02/12/2008 > Mentorship Program
Inspiring the Global Generation
The students at IUM were given yet another fantastic networking opportunity on the 27th November when they were invited to the Mentorship Cocktail at the exclusive Marriott Hotel. Graduate students were able to meet potential new mentors who include the top executives and CEOs of some of the world’s top companies, as well as IUM alumni who are also acting as co-mentors. It was a great way for students to make new contacts in their chosen industry.
The mentorship program at IUM has been a huge success. Being a mentor gives benefits on both sides of the relationship, as Michel Sabot, CEO of Hospitality for Societe des Bains de Mer, Monaco explains, “I believe that to be successful you should get involved in training, we have to help the next cohort of students.” He started mentoring six years ago, when the program first started. “I have made sure that at least two or three of the people I work with will also be involved in the program, so we can give something back to the young generation.”
The mentorship program attracts some big names, including executives from Adidas (Germany), Giorgio Armani (US), Vivienne Westwood (UK), Gucci Group (Italy), HSBA Private Banking (Monaco), Haywood Securities (UK), Merrill Lynch (US), Société Générale (Singapore), UBS Private Bank (Monaco) and Credit Suisse. Every year there are between 70 to 85 mentors available to the students.
British student Matt Benjamin was also at the evening with his new mentor, John Solomon who is a broker at Fraser Yachts in Monaco. Matt found his mentor himself, as he worked with John during the summer before starting his Masters degree in Luxury Goods at IUM. He plans to take advantage of having someone already working in his chosen industry as his mentor, and promised he would organise very regular meetings with John. It’s up to the individual mentor and student how many meetings they want to have, and it was obvious from the cocktail that some mentor relationships would involve a lot more contact and advice than the four recommended meetings a year.
Benjamin Zerbib is the Head of Fund Strategy at HSBC Private Bank Monaco. He explained how he felt mentoring was a very useful way of giving a student a great and rare opportunity, as well as providing interest for the mentor. His HR department were also organising a mentorship scheme to allow people to have connections within their company. “It’s a great opportunity to let students benefit from having contacts, it’s easier to get into the industry when your contact is someone you’ve already had a working mentor relationship with”.
Oskar Nilner graduated from the BSBA program in 2001, and is now a private banker for Credit Suisse. He felt he wouldn’t have got where he is today without help from others, and is happy to give something back with the mentorship program. He’s going to work with one of the students on the MFIN program, and says the first thing he will do is “to sit down with him and find out exactly what he expects of me. I will be able to help him network in the finance industry.” He agrees that without the power of networking and knowing the people on the inside, finding a job, particularly in finance, can be an arduous task.
Michel Sabot explains how students should make the most of their mentorship experience: “They must be prepared to keep pumping us for information always to be asking us “why?” All the students I have had have been very pleasant and most importantly were ready and open to ask questions.” And what advice does he have for mentors who are embarking on their mentorship program? “Make the student think. Make them react.” And any advice for the student? “Get yourself ready to push your mentor as far as you can. I always say “use and abuse us!” It’s what we’re here for.”
But what can someone such as Michel Sabot get from being a mentor, what benefits can there from spending his valuable time dealing with someone who is just beginning? “I feel I am kept away from the young people in my job, away from the young generation. This is a great opportunity for me to get back in contact with people who are just starting. It’s so rewarding.”
