Testimonials

Are you interested in the experiences of our Captains of Industry and Young Alumni that studied at Erasmus School of Economics, then click on the links below to read their stories.

Captains of Industry

Kwik Kian Gie

Kwik Kian Gie - Graduated 1963, Former Minister of Economic Affairs of Indonesia

If I had to start over, I would once again enrol as a student at Nederlandse Economische Hogeschool (NEH), the precursor of Erasmus School of Economics.
If I had to start over, I would once again enrol as a student at Nederlandse Economische Hogeschool (NEH), the precursor of Erasmus School of Economics.

If I had to start over, I would once again enrol as a student at Nederlandse Economische Hogeschool (NEH), the precursor of Erasmus School of Economics.

Since the birth of the Republic of Indonesia, our Cabinet has always included an alumnus of Erasmus School of Economics. Starting with Mohammad Hatta, who even as a student already played a very active role in our struggle for independence – indeed, he was our nation’s first Vice-President. Together with Ir. Sukarno, Hatta was later recognised as one of the founders and proclamators of the independent Republic of Indonesia. Hatta graduated from the Nederlandsche Handels-Hoogeschool – as Erasmus School of Economics was then called – on 5 July 1932. On 24 May 2014, Professor Dr Wim Lammerts van Bueren visited Hatta’s two daughters and son-in-law in the house where Hatta had always lived, to present a framed photograph of the Campus’s new student housing building for international students, the Hatta Building. They were moved by the occasion.

After Hatta, the Cabinet included the following Rotterdam-educated economists: Jusuf Muda Dalam served as Governor of the Indonesian central bank, followed by Professor Sumitro Djojohadikusumo as Minister of Trade and Minister of Finance. Radius Prawiro’s first ministerial-level appointment was President of the Court of Audit. He went on to serve as Governor of the Bank Indonesia (the central bank), Minister of Trade, Minister of Finance and Coordinating Minister of Economic Affairs, Finance and Industry. Radius called back Arifin Siregar from New York to serve in the Cabinet as Governor of the Central Bank, Minister of Trade and Ambassador in Washington DC. I started my career in politics as one of the Chairmen of the Indonesian Democratic Party (PDI). I became a member of parliament in 1999, while simultaneously serving as the Vice-President of the People’s Congress. After this, President Abdurrachman Wahid appointed me as Coordinating Minister of Economic Affairs, Finance and Industry. President Megawati Sukarnoputri subsequently installed me as the Minister of National Development Planning.

For a long time, the leaders of Indonesia’s central banks were predominantly Erasmus School of Economics alumni, while economic policy during the 32-year Suharto administration was mainly determined by graduates of the University of California in Berkeley. Off the record, you would hear: “The Berkeley Mafia has the government, while the Rotterdam Mafia has the money.” At which point, Arifin would immediately correct the term ‘Rotterdam Mafia’ to ‘Rotterdam Angels’.

It goes without saying that over the course of my career, the knowledge and wisdom I acquired in Erasmus School of Economics has proven of indispensable value. Every time I am confronted with a problem that needs to be resolved, my mind goes back to the Erasmus School of Economics professor relevant to the issue at hand.

My membership of the Rotterdamsch Studenten Corps (RSC) introduced me to Western culture and value systems. As someone who didn’t speak a word of Dutch when he arrived in Rotterdam, joining the RSC proved an excellent decision.

Professor Wisselink was a fount of practical wisdom, starting his first lecture with the words: “Ladies and Gentlemen, there is nothing new under the sun. The things you will be learning in the years ahead are simple truths, wrapped in complicated phrases and formulas in order to come across as science.” In addition, he noted that “a gentleman’s agreement is an agreement to the detriment of the gentleman in question.”

Last but least, I am grateful for the privilege of participating in the establishment and management of the Witteveen-Dekker Indonesian Scholarship Foundation. This foundation has issued a number of scholarships to promising Indonesian students, enabling them to embark on a very impressive career.

Laura van Geest

Laura van Geest | Graduated 1989 - Chair of The Dutch Authority for the Financial Markets (AFM)

'I continue to benefit from the knowledge I acquired as a student at Erasmus University every day'
Laura van Geest portrait picture
'I continue to benefit from the knowledge I acquired as a student at Erasmus University every day'

When I was in secondary school, the political debate was dominated by the power struggle between Den Uyl and Wiegel. I thought it was quite exciting. 

I decided to study Economics, since money often plays an important role in politics. Of course, I did opt for general Economics, while your average Rotterdam student enrolled in Business Economics. Later on, I also studied Business Administration in addition to Economics. This combination laid an excellent foundation for my future career at the Ministry of Finance – you’re not only expected to outline the various policy options; but also how they can be realised.

Rotterdam no-nonsense approach

I continue to benefit from the knowledge I acquired as a student at Erasmus University every day – from employment market economics to exchange rates; from macroeconomics to budgetary policy. In addition, the Rotterdam no-nonsense approach has always appealed to me. I still live in Rotterdam, and in my day-to-day work, a straightforward, fact-based approach proves to be most effective.

Laura van Geest portrait picture

Alumna Masja Zandbergen-Albers

Masja Zandbergen-Albers - Head of Sustainability Integration at Robeco and former Master student in Econometrics at Erasmus School of Economics

I am very happy with the solid foundation that was built during my Econometrics study
I am very happy with the solid foundation that was built during my Econometrics study

Since the start of her career in fund management Masja Zandbergen-Albers has been advocating sustainability. However, in the nineties neither clients nor colleagues were particularly interested. Now she is Head of Sustainability Integration at Robeco in Rotterdam, which she has seen transforming into a leader in sustainable investing. She works with a team of fifty people that has been developing a wide range of green investment strategies that is matched by very few other asset managers.

Originally, I was considering an Economics study, but since math came easily to me, I opted for Econometrics. My father told me that the best place to study this subject was Erasmus School of Economics and with hindsight I think he was absolutely right. The fact that I have continued to live in Rotterdam ever since is no coincidence. The city’s hands-on-mentality really appeals to me. In addition, it is a very international place with people from all walks of life.

How did it feel to be one of very few women during your study? 

It was not an issue. During many of the seminars I would be the only female student, but I was there to study so it did not matter. Being a member of SSR, offered me plenty of opportunities for a nice social life. At work, I have often been in predominantly male environments as well and actually I view it as something positive. Men are a bit more direct, which suits me fine. Sustainable investing is traditionally an area where you will find more women. If I had to venture a guess, I would say that it is because we put our money where our mouth is. For a long time we have had different priorities than men and it is great that these have now become more mainstream in the investment world.

Can you describe your career?

I joined Robeco in 1997 as a trainee. I have always been convinced of the necessity for shareholder engagement and attention to sustainability. However, there was not any real demand for that yet from our clients so it was difficult to generate interest within Robeco. When we started Robeco’s engagement team in 2005 our activities were mostly limited to voting and engaging with companies. In 2008, I felt it would be good for my personal development to gain some experience with management. At the time, that opportunity was not available within Robeco so I left to become an interim manager. Back then the group of people involved in sustainable investment was still very small and I was able to find interesting assignments. One of my clients was Syntrus Achmea, now Achmea Investment Management, where I was initially asked for a maternity cover of the Head of Sustainable Investment. Later I joined them as Head of Equities and (temporarily) credits, which gave me the opportunity to learn about the whole investment chain including back office and IT. I had a great time and stayed for 4 years, but when they moved to Zeist my commute from Rotterdam became so time-consuming that I decided to leave. It was great to come back to Robeco as Head of Research for the Global Equity team, but I did indicate that I would like to be involved in sustainable investing. When the post of Head of Sustainability Integration became vacant, I was able to realise this goal. 

'I have always been convinced of the necessity for shareholder engagement and attention to sustainability.'

What is it like to work for Robeco?

Founded in Rotterdam, the company is now owned by Orix of Japan. We have offices in 16 countries, but the investment department in Rotterdam is also very international with colleagues from all over the world. My team enjoys doing things together; recently, we went ice-skating. Even the ones who have not grown up with skates put on a brave face. The sustainable investment center of expertise now has 50 people and they embody a wealth of experience. In turn, this knowledge attracts young talent that is eager to learn and committed to add value to what is already there. 

What distinguishes Robeco’s approach in sustainable investing?

We have now been active in this area for so long that we have already been through a very thorough thought process to get to where we are. People who are new to this type of investing are still debating what it actually means. I am convinced that we can help our clients better because we have charted the way to different types of sustainable investing and the consequences for the selection of investable stocks (the universe). Yes, such choices may have an impact on potential returns, but we can guide newcomers to informed decisions, based on our experience. There are few asset managers that offer such a broad choice in sustainability strategies, ranging from equities to bonds and everything in between. Analysis of financially material ESG issues is part of the investment process for 96% Robeco’s assets under management, we apply exclusion criteria for all our funds and for 22% we are going even further by looking at the carbon footprint of investments or the contribution to the realisation of the United Nations Sustainable Development Goals. In terms of assets under management in funds that adhere to the strictest regulation on sustainability we find ourselves in the top 10 in Europe, according to Morningstar Fund Research.

When we participate in groups of institutional investors that are trying to make a difference, we only do so if we can play an active role. We are a founding member of the Net Zero Asset Managers Alliance and play a role in various initiatives regarding biodiversity. Another example is our membership of the Climate Action 100+. Together we have been able to nominate a board member at Italian energy company Enel, which resulted in a more active dialogue on sustainability between the company and the investment community. These activities take a lot of time and effort, but supporting such initiatives in name only is just not enough.

Robeco

What is the relationship with Erasmus School of Economics?

Many of my colleagues are alumni from Erasmus School of Economics or other faculties. Some of them still work part time at EUR: Guido Baltussen is Head of Factor Investing and Co-Head of Fixed Income at Robeco. He is also a Professor of Finance at Erasmus School of Economics. Joop Huij is responsible for Robeco’s sustainable index solutions and is an Associate Professor of Finance at Rotterdam School of Management where he teaches asset management. Conducting academic research is facilitated very well within Robeco. Several of my colleagues have (co)authored papers in scientific journals, which has helped us to develop our investment philosophy further.

How do you define sustainability?

Sustainable investing can take many different forms. It is very important that there is sufficient transparency to allow the client to understand what funds are really doing in this area. However, labels can also complicate things, especially if they vary from country to country. Sometimes it becomes almost impossible to market the same fund in different countries while complying with all local regulations. It is good that the EU has come up with the SFDR (Sustainable Finance Disclosure Regulation), but it is still work in progress and should not lead to an emphasis on box ticking instead of intrinsically motivated decision-making. What I like about SFDR is its emphasis on double materiality. On the one hand integrating ESG criteria and mitigating ESG risks in the investment process will lead to better investment decisions. On the other hand ‘Money, money, money’ is not enough. To paraphrase Abba, we should also be encouraged to ask ourselves ‘Does your mother know?’. You want to be able to explain how the companies you select play their part in creating a sustainable future. 

Can you give some examples of engagement activities and their impact?

We have screened our portfolios for CO2 emissions and selected the 200 biggest emitters. For these companies we studied all the information regarding their 2050 targets. Some had no information at all and others just did not have credible plans. It has led to increased engagement with companies where we see room for improvement. In those cases where we considered the transparency subpar, we have decided to demand more openness through voting at AGMs, even if there were no proposals on this topic on the agenda yet. We voted against other items on the agenda and explained our stance to the company in writing. For the companies with the lowest scores in our climate framework and where the follow up is insufficient, this may lead to exclusion. When we started excluding tobacco one of the major companies in the sector wrote to us, stating that they would be smoke-free by 2050. We replied that we would gladly reconsider an investment if they could let us know by the time they had achieved this goal.

What is the benefit of your Econometrics study in your work?

I am no longer actively programming or developing models, but I have been trained to analyse data and other information very quickly. This mindset is something I use every day and I am very happy with the solid foundation that was built during my Econometrics study.

Ruud Lubbers

Ruud Lubbers - Prime Minister of the Netherlands 1982-1994

I have very fond memories of my years at Nederlandse Economische Hoogeschool (from 1 September 1957 to 1 April 1962).
Premier Lubbers terug uit VS (op Schiphol); Lubbers (koppen)
I have very fond memories of my years at Nederlandse Economische Hoogeschool (from 1 September 1957 to 1 April 1962).

Mostly thanks to the succession of outstanding professors who taught there. This more than anything made it such a worthwhile experience.

Imagine sitting in a lecture hall, listening to Professor Tinbergen or Professor Witteveen, to name just two luminaries. Actually, my time studying there finished too soon – although thanks to Tinbergen, when I graduated under Witteveen’s supervision, it was still with honours.

My study has continued to have an impact on my life. Consequently, for me, my years in Rotterdam amount to far more than just a Business Economics degree – they have proven valuable throughout my life.

‘Non scholae sed vitae discimus’

It has had a lasting influence on my life as an entrepreneur (ten years) and in politics (7,777 days in The Hague) and finally as a Professor of Globalisation and one of the founding fathers of Earth Charter.”

Premier Lubbers terug uit VS (op Schiphol); Lubbers (koppen)

Harald Swinkels - Alumnus

Harald Swinkels - Graduated in 2004

Erasmus School of Economics will provide you with the foundation you need to start with confidence.
Harald Swinkels
Erasmus School of Economics will provide you with the foundation you need to start with confidence.

I moved to Rotterdam from a small town in North Limburg in 1993. I started out as an Econometrics student. Later on, I switched to the Business Economics programme at Erasmus School of Economics. As can be gathered from my year of graduation, it took me a respectable 11 years to obtain my degree.

Fortunately, this was not – or rather, not only – due to my enjoying student life to the full. Rather, my activities in this period have had an impact on my life to this very day: I actually launched my career as an entrepreneur while I was still a student.

I thank my time in the Econometrics programme (of which I only rounded off the first year) for my special interest in data analysis. It has allowed me to set up the specific, data-driven operational management structure that – in my humble opinion – is vital for an organisation that serves such a large number of customers as NLE.

Nevertheless, I remember feeling somewhat frustrated by econometrists’ attempts to capture psychological processes in an abstract formula – with disruptive effect. Because that was my key ‘take-away’ from the degree programme that I did round off eventually: that human behaviour – which generally speaking cannot be considered rational – plays a crucial role in day-to-day economics.

I became a member of the student association Rotterdamsch Studenten Corps (RSC) in the very first year of my studies. It marked the start of a terrific period in my life. I cherish the memory of the countless hours I spent flat out on the couch in my student house – which has long since been declared unfit for habitation. It prepared me for the period that followed, in which there would be no more opportunity to slack off.

After graduating, I have always stayed in touch with Professor Willem Verbeke, who was my thesis supervisor. When he invited me to lecture in his Sales Leadership programme at the EUR-affiliated Institute for Sales and Account Management a few years ago, I didn’t think twice. It’s wonderful to be able to share my own experiences in a setting so familiar to me.

And finally, for those existing and prospective students reading these testimonials who are considering going into business during or after their studies: don’t hesitate. I can sincerely recommend it. Erasmus School of Economics will provide you with the foundation you need to start with confidence – just like I did. And, stay ‘Rotterdam’ about it: don’t take yourself too seriously…

"Erasmus School of Economics will provide you with the foundation you need to start with confidence"

Harald Swinkels

Graduated in 2004

Harald Swinkels

Young Alumni

Econometrics, an excellent preparation for becoming CEO

Christina van Spaendonck

‘The fact that I have a bachelor’s and a master’s degree in econometrics helps me to get in on the conversations’
‘The fact that I have a bachelor’s and a master’s degree in econometrics helps me to get in on the conversations’

Alumna Christina van Spaendonck became CEO of VANLIER in 2023 at the age of 26. It was not her intention to take the helm of the 200-year-old premium shoe company, but now that she is in post she enjoys finding solutions to business challenges others were unable to solve. At the same time, she acknowledges that she is still learning. In her view, denying this would rob her of a chance to grow even further.

Christina has always been intrigued by numbers. ‘I chose to study econometrics because I figured it was a combination of mathematical puzzling and insights into the way the world is structured with a special focus on companies. I chose Erasmus School of Economics because its international approach appealed to me, as did the multinational character of the city.’

Chris Gorzeman

Surrounded by math wizards

‘At first, I had to get used to the fact that there were so many people who were also good at math. It was very motivating to be among such a talented group, but I really had to up my game. The bachelor programme was a bit more theoretical than I had expected, which I did not always enjoy at the time. However, it provided me with a very solid base and gave me an analytical mindset to approach numbers in a structured way. This made the rest of the study easier. In hindsight, I must say that the study is very well designed, but you do not realise this when you are in the middle of it.
I really appreciated the active approach toward first-year students. The responsibility for doing the work lay with us of course, but there were regular sessions in small groups with teaching assistants. In addition, there was a mentorship programme that offered support during the first year of living on your own. It also helped me to understand that everyone was in the same boat; we were all used to being ‘the one who is good at math’ and now facing daunting assignments in a class with very able peers. Soon our cohort started to bond and we became a group that supported each other and worked together very well.’

Extracurricular activities

In her second year, Christina joined Erasmus Social Network, which organises activities for students from all faculties. She also became a student ambassador. ‘It was a conscious decision to focus on my studies during the first year. However, econometrics is a field in which soft skills receive less attention, so I was keen to learn to present and explain the educational programme to others. I also worked for a financial start-up called Aulin. My job was to help write programmes to extract news about particular companies from the media. This was a great way of gaining experience in applying the knowledge I acquired in my study.

I had applied to participate in the exchange programme to go to Japan or Singapore. At the time, I did not realise that your grade point average is very important for the selection process, so I lost out to stiff competition despite the fact that my grades were pretty good. Instead, I went on a trip to Japan with FAECTOR, the econometric study association. It involved a two-month internship in the Netherlands to raise money for the journey. Together with other students, I built a model for T-Mobile and it was great to see that it was able to add value in decision-making on pricing and promotions. During my master’s studies, I became a teaching assistant for the master study Data Science & Business Analytics, which was for students without previous econometric experience. It helped me to gain an even deeper understanding of modelling.’ 

Changing plans

Christina combined writing her thesis with an internship at Philips for four days a week. However, the pandemic put a stop to that and she had to change her plans. ‘After graduation, I could not work for Philips in Japan as I had planned because foreigners were no longer receiving visas. It looked like I was going to be freewheeling for a while, but I thought it would be good fun to spend some time at my father’s company VANLIER. Necessity is the mother of invention, so the fact that all shops had been closed because of COVID actually helped to give a push to increase our online presence and introduce data analysis.’


An unintentional way of becoming CEO

The previous CEO recognised Christina’s ability for analytical thinking and taking people along in the new approach. It had convinced him that it would be a good idea if she were to succeed him a year later when he planned to retire. She thought about it for three days and decided to embrace the chance to learn more about business.
‘To build an econometric model, you have to go back to the basics and look at all variables and the effects of various actions. This has given me the ability to understand complex issues and understand the implications of all options. In my experience, the role of CEO is mainly solving problems that have been escalated because others in the company were unable to come to a solution. That is right up my street since I enjoy puzzles. My affinity with numbers also means that I feel comfortable with financial statements and other business data.’

Chris Gorzeman

The role of data at VANLIER

VANLIER is a well-known provider of men’s shoes with a proud history dating back to 1815. However, when Christina arrived, she found that this venerable age also showed in things such as ICT, the sales organisation, and the web shop. ‘Everything was based on the notion that the brand is the supplier of the wholesale channel, which sells to retailers in the high street. Twice a year a new collection would arrive so it could be presented to the wholesalers and after that, the commercial team would go into quiet mode for five months. In the new approach, you have to supply customers every day and you are much closer to the end-user. 

Data for the sake of data is not interesting. The transition I started, focused on deploying the information we obtained online to service the customer optimally. For this, you need to make sure you have enough stock based on the know-how derived from the behaviour of web visitors. This approach helped us to make an informed selection for the next collection of shoes. It also had a positive impact on logistics. On top of that, our data-driven approach makes us significantly more sustainable. Our waste has fallen to about 5%, meaning we sell about 95% of our stock, while most competitors are left with 30% waste.

The change is going slower than I would have liked. As a student, I was used to acting swiftly based on analysis of the data. I have learned that in a company it is important to take everybody along. That means implementation of new plans requires time. In our case, we also have to take into account our 200-year legacy. Today’s steps must guarantee that we will still be there 200 years from now.’

Being CEO in your twenties

Christina is conscious of the fact that she is still learning and does not know everything. ‘Nobody can expect me to. I definitely have the ambition to acquire all that knowledge and I enjoy gaining new insights in conversations with my colleagues. What I do know is where I can add value now and where this will be the case at a later stage.

The role of CEO is so broad that I can choose my own approach. I lead in choosing the direction we take. What is really important to me is to show respect toward other professionals who have knowledge that I do not possess yet, but I also expect them to respect me for what I bring to the organisation.’

Networking

Although it is changing rapidly in many sectors, networking in retail still means encountering mostly grey-haired men. ‘The fact that I have a bachelor’s and master’s degree in econometrics helps me to get in on the conversations. It prevents people from brushing me aside as dumb or too young. Those conversations may not be as deep as they would have with others who have been working in this sector for decades, but there will be an exchange of analyses and ideas. Sometimes, I can make these old hands look from a different perspective. For example, looking at customers’ expectations and the retail experience. These things are not reflected in numbers and therefore often overlooked.  I also try to get to know more women in business for example through the Erasmus Trust Fund. This is an initiative here at the university, which connects and supports entrepreneurial women.

Shares in VANLIER

VANLIER was recently listed on nx’change. ‘My father is now 63 and wanted to make the company more accessible. Therefore, he has made available part of his shares and put the money back into a share premium account on our balance sheet. I agree that the listing is a good way to make loyal customers literally feel more invested in VANLIER. There are various perks, depending on how many shares people own, which has proven to be very popular. We do not need the money right now, but it is good to know we have the financial room to execute our growth plans when the time comes.’

The future

‘I have to say that so far it looks like my study has prepared me very well for this role because of the analytical approach I have been taught. There is still a lot I would like to do at VANLIER, and I also intend to continue learning as much as possible. I can see myself going back to programming and number crunching at some point, still solving puzzles but in a different way.’

More information

In 1815 Govert van Lier started manufacturing shoes in Loon op Zand. Christina’s father, Geert Van Spaendonck, bought the company in 1991 from the Van Lier brothers. The company is best known for its premium brown leather men’s shoes, but nowadays about 40% of revenues come from sneakers. Production of the latter takes place in Portugal, while the leather shoes are made in India since they need many manual operations that require skills that are no longer available in Portugal.

This item is part of Backbone Magazine 2024. The magazine can be found in E-building or Theil-building for free. Additionally, a digital copy is available here. Backbone is the corporate magazine of Erasmus School of Economics. Since 2014, it is published once a year. The magazine highlights successful and interesting alumni, covers the latest economic trends and research, and reports on news, events, student and alumni accomplishments.

Irma van der Schalie-Tempelaar

Irma van der Schalie-Tempelaar - Integral Capacity Manager at Albert Schweitzer ziekenhuis

Studying is like cooking. With cooking you want to enjoy the process, but eventually it is all about the final dish.
Studying is like cooking. With cooking you want to enjoy the process, but eventually it is all about the final dish.

Studying is like cooking. With cooking you want to enjoy the process, but eventually it is all about the final dish. The same holds for studying! You want to enjoy your study and everything that comes with it, but eventually it is to get that great job that you want.

My first ingredient in cooking my great job was the study Econometrics. To get the best ingredient I chose to get this in Rotterdam, which is the most renowned university for Econometrics. To this I added a year of board membership at the Econometric Study Association (ED), which for me made the difference. You get thoroughly aware of each other’s passion and capabilities, so when two of the board members got a presentation from Capgemini they called me and screamed that I should be working there.

My dish is still in progress and currently I am adding a job as an Analytics consultant at Capgemini to it. My latest project is helping the Dutch Ladies Rugby Sevens team to win a medal at the Olympics in Rio (2016). We will do this using everything we have learned during the Econometrics study in turning data into, in this case, tactical advice and training schedules.

My secret ingredient to your success: Train yourself as much as possible in the skill of explaining the complex things you learn and do at Econometrics in a simple way. Tell your family, friends, the neighbour... It is a really valuable ingredient to your dish!

Dennes van der Vlist

Dennes van der Vlist - Former Investment Manager in Private Equity | CEO of DIT Holding

In my opinion, my studies in Rotterdam certainly helped me build a solid fundament to start a career in business.
In my opinion, my studies in Rotterdam certainly helped me build a solid fundament to start a career in business.

After finishing my studies in Rotterdam in 2011, I started working for a Private Equity firm based in Amsterdam.  As a Private Equity firm, we invested capital committed from large institutional investors (i.e.: pension funds, etc.) by acquiring mid-sized companies. We normally acquired a majority stake, which gave us ‘control’ for important company decisions. After having acquired a company, we support management actively to work on the company’s further improvement. Since 2019, I work as a CEO at DIT Holding

The reason I wanted to start working in the investment industry after my studies was the entrepreneurial character of the work, as well as the broad scope. As an investor, you are involved in virtually all aspects of a company: financially, strategically, operationally, fiscally, legally, etc. I work on both the deal side as well as on the operational improvements side. On the deal side, I support the evaluation of new investment opportunities – giving me the opportunity to look at many different companies – as well as supporting the hectic process of closing the deal. On the operations side, I work on operational improvement programmes at our portfolio companies. This allows me to gain an in-depth understanding of the workings of businesses. I find this truly fantastic exposure to get so early on in a career!

In my opinion, my studies in Rotterdam certainly helped me build a solid fundament to start a career in business. Especially in a fast-paced working environment, as the investment industry generally is, you need to ‘hit the ground running’ when you start working after your studies. I think having developed a good basic sense of business during my studies has greatly enhanced the start of my career.

Therefore, anyone who wants to work as an investor, as an entrepreneur, or who wants to work in business otherwise, I can truly recommend studying business economics in Rotterdam!

Johannes Weis

Johannes Weis - Chief of Staff to the co-CEO at Celonis

I gained an ability to understand complex problems quickly by breaking them down into smaller components
I gained an ability to understand complex problems quickly by breaking them down into smaller components

After reading the book ‘Misbehaving’ by Richard Thaler, I was immediately fascinated by Behavioural Economics. The Erasmus School of Economics offered a programme which combined theory and applied sciences, which was exactly what I was looking for.

During my studies, I deepened my understanding of economics and had the opportunity to work directly with numerous professors, which helped me gain additional experience in academia and research. Furthermore, obtaining the degree from the Erasmus School of Economics helped me to find an amazing job as a strategy consultant right after graduation. 

A couple of months in my new job I was contacted by the young software company Celonis. I received an offer and had two days to think about changing careers. The next day, I told my parents on the phone that I was moving from Hamburg to Munich. 

At Celonis I am constantly thrown in at the deep end, which is the best method to learn as quickly as possible. In a constantly changing environment, I am applying the analytics skills which I acquired in studying Behavioral Economics. Principally, I gained an ability to understand complex problems quickly by breaking them down into smaller components. Moreover, being in an environment where strategy and execution is constantly linked helps me today when I am working closely with the co-founder of Celonis.

All in all, I am very glad that the skills required for a master degree in Behavioral Economics also prepare you for working in the rapidly growing tech industry, or in any other rapidly developing industry. For prospective students, I can highly recommend studying at Erasmus School of Economics. 

Eline van der Gaast

Eline van der Gaast - Venture Advisor at Power of N

'If you can dream it, you can do it'
'If you can dream it, you can do it'

In the summer of 2001 while still in high school, I visited New York City and instantly fell in love. I loved the city, the energy and the people and decided that someday I would live there.

With this dream in the back of my mind I enrolled at the Erasmus University and started my bachelor a few years later. I enjoyed the international settings and the broad skill set I gained.

Upon completing my bachelor degree I wanted to diversify my skills and I therefore continued my education, working towards both a master in HR and Econometrics. During my time as a student I combined academia with extracurricular activities. I became the president of the Econometric Study association (ED) as well as part of the University Council. Both experiences were great and allowed me to build skills in leading teams.

Shortly after obtaining my masters in Quantitative Marketing in 2010 my dream came true. I joined SKIM, a boutique market research agency, and transferred to their NYC office. Here I apply techniques and models I learned during my studies on real life problems faced by large multinational companies. I continue to leverage the analytical thinking and problem-solving skills I got from Econometrics on a daily basis.

Since then new dreams have come along and in the summer of 2012 I helped SKIM open their 5th office in San Francisco. The hands-on and entrepreneurial mentality from the EUR and the city Rotterdam is really something that has helped me forward in my career and to achieve my goals.

So, as a tip for future students I would like to use a quote from Walt Disney – 'If you can dream it, you can do it'.

Laura van der Cammen

Laura van der Cammen - Economics and business economics teacher at Melanchton Schiebroek & former project manager

Economics is everywhere!
Economics is everywhere!

I would not describe myself as a typical economics student. At high school I wasn’t blown away by supply and demand curves. Nor did I admire to become a succesful investment banker. However, the study economics and business economics at the ESE was very interesting and useful for me and  I recommend studying it because it offers many possibilities, including the following.

After high school I looked for a study that would provide me with a broad set of valuable and useful skills. My ideal study should also contain both a mathematical side as well as a behavioral / society side. In economics I found just that.

During my bachelor I directly enjoyed the mathematical side of economics and, through elective courses and self-selected minors, I gradually discovered that I also enjoyed the behavioral side. During the masters financial economics and marketing I gained a deeper understanding in both these aspects of economics. Studying at the ESE was fun and well organized. The teachers were professionals and self-study was alternated by group work.

This study provided me with great analytical skills that were very useful in my first job as a project manager/consultant at Boer & Croon. In different organizations and projects I quickly acquired knowledge and systematically worked towards the set goals. The marketing and behavioral economics side of the study prepared me for working in different ways and settings with people.

After working as a project manager I am now a high school economics teacher. Teaching others the basics of economics has made me appreciate this field even more. Economics is everywhere! The value and applicability of this study presents itself every day. 

Achieving success through hard work and a realistic approach

Pavle Beslic - Pavle Beslic (1985) studied Economics at Erasmus School of Economics. He obtained a Master’s Degree in Accounting, Auditing & Control.

Read, learn, think in scale and take your time
Read, learn, think in scale and take your time

In the central hall of the office of Staffyou one object stands out: a gong. ‘We ring it every time we land a client’, founder and CEO Pavle Beslic clarifies. Does the gong ring often enough? ‘Never enough!’, he says, with a generous smile. The location of the office is impressive: it is situated in the Maastoren on the 33rd floor, a couple of floors above Beslic’s former employer Deloitte, with spectacular views on the Erasmus Bridge and beyond. 

Staffyou is a digital temporary agency platform that matches temps and employers through smart algorithms. The location matches the success of the company: in a couple of years Staffyou became a million-dollar business that is active in both the Netherlands and the United Kingdom.

How did you come up with the idea of Staffyou? 

Around 2008 I was working as a student for a temp agency myself. I noticed that a lot of colleagues turned up late or were high. I had started a small business before and thought: I can do this too. I addressed the client on the spot, who replied: ‘Well, this is going so bad… If you turn up next Saturday with eight employees, you will be my new supplier.’ I succeeded and started my new business. It was typical for me: seeing opportunities everywhere, without being limited by any expertise. That also meant that I made all the mistakes you can make. I failed to arrange essential things, like taking care of the right acquisition and credit control. My client started paying later and later, and then the financial crisis happened. I could not get a loan and my client went bankrupt. It made me take a different approach. I finished my studies and started working as an accountant, aiming to move up on the corporate ladder that way. After a couple of years, I saw the opportunity to work for myself and eventually to also start my own business again. From the mistakes I made when I was younger, I learned to really take the time to develop a proper idea first. That idea turned out to be the digitalisation of the temp agency. When I was a student, the workflow of these agencies was very cumbersome: there were no smartphones yet, you always had to call people and email directions. I realised that the sector had not changed that much ever since. Why not digitalise your workflow, since we already do everything else online as well? At first, employers were hesitant when I pitched this idea to them. They preferred to call their temps and were not very keen on working with reviews of employees. But I was still convinced of all the advantages of digitalisation and was determined.

Rick Keus fotografie

Determination is key if you are an entrepreneur. When you fully believe in your idea, people tend to give you the benefit of the doubt. Timing is essential as well. There were some people thinking of the same concept a couple of years before, but that was too soon. Think of online shopping – nobody would consider that a couple of years ago, nowadays it is completely normal.

What makes Staffyou unique?

Our product is innovative. I call it the ‘TikTokifiation of work’. If you scroll through TikTok a couple of times, the app ‘learns’ what you like. We also use algorithms to predict who will work where successfully. A straightforward example is a warning when someone accepts ten jobs at a time at 03:00 AM. In that case it might be a good idea to call that person the next day to check in. Another example is a successful match between a temp and a client that may predict a successful match with a comparable client. You see a similar process at Netflix or in retail: ‘since you watched/bought this, you might be interested in watching/buying this as well’.

The way this company was built, stands out as well. I invested a lot of my own money in the first years. After three years an investor joined me, for a reasonable price. We spend ten times less than most other digitally innovative companies, which makes us financially healthy and less vulnerable to trends like rising interests. Of course it was a risk to invest so much, and I had to put things like buying a house or going on holidays on hold. But now I am a majority stakeholder and Staffyou still really is my company.

Rick Keus fotografie

Is there a certain road map to a successful enterprise?

It really depends. If you have a brilliant idea and you are the first one to think of this, you should get started immediately. That is an exception though. There will always be ideas. The question is whether you will be the one to successfully carry it out. According to several studies, one of the traits that very successful entrepreneurs have in common is that they are in their thirties or forties. They gained experience first and learned from others. Of course, you can take Facebook founder Zuckerberg as an example. But then ask yourself: are you attending Harvard? Are your parents wealthy? What are the odds that someone invests 10 million in your idea? And that you will find the most talented developers to work for you? Chances are already small that your business will be successful, so you better be prepared. Through working as an accountant for Deloitte, I learned a lot about how the industry works: how to dress, how to approach clients, how to measure things, how to take the lead.

Besides knowledge, perseverance, and timing there is one more quintessential aspect: make sure that your idea is scalable. You cannot add scale afterwards. When I ran my temp business as a student, I was always present as a team manager on the spot. That made it different from other agencies and contributed to the initial success, but was in no way suitable to scale up. So always think ahead: what makes your business stand out and how will you expand it? Or decide beforehand that you want to go for a small business. If you have the potential of a small business but aim for a big one, that is where things go wrong.

Did you learn things during your studies that are still helpful now? 

In retrospect, definitely. When you are a student, a topic like financial accounting is quite abstract. But when I started to expand my business, I recognised the theory behind what was happening and knew what sources to consult to refresh my knowledge.

Are there also topics that you wished you learned more about when you were a student? 

Yes. Communication would be on top of the list. Of course you study languages and you write a thesis. But I am talking basic communication: how to communicate, how to read people and how to interact with different types of people. It will be a huge part of everything you will do after graduation. Another theme would be certain financial knowledge: what taxes entail, how capital works and how to raise money. I would recommend students to read books from successful entrepreneurs who share their experiences. For example, I learned a lot from Zero to One by Peter Thiel and Blake Masters, the biography of Elon Musk and Amp it up by Frank Slootman – an alumnus from Erasmus. But besides that and focusing on your studies, I think it is also important to do something else that you are passionate about. That can be sports or something creative, as long as it is something that you can completely dive into and that helps you take your mind off other things.

When you were young, your family experienced hardships because of the war. Does that play a role in how driven and motivated you are? 

After being born in Rotterdam, my parents and I moved to then Yugoslavia. After four or five years we left because the war was coming. The economy was turning bad slowly and you could predict it was going bad. My parents sold everything to start a new life in their motherland. When that life fell apart, they lost everything. I realised that things did not work out as we hoped. Being back here, I had the feeling that I stood behind and that I had to make up for something. It felt like I had something to prove. That was definitely a drive to achieve things.

I have always stayed in Rotterdam since. It is the place I know best, where I know everyone. I have an emotional connection with the city. When we were in the middle of upscaling, I bought a small boat. When I was under a lot of pressure, I went speedboating across the Maas to wind down. It also created head space for new ideas. 

I would have liked to live abroad for a year, but that never happened. That is something I regret: I should have had a little bit more fun before I fully took on my entrepreneurship. I underestimated how intensive and time consuming it is. I just started and once you have, you cannot step out that easily. So I would advise future entrepreneurs to think it through beforehand and make a conscious choice. Also: know that everything is possible. I also started in a paid employment situation without a lot of connections. But, and I cannot stress this enough, be realistic at the same time. Not everything can be an instant hit. Do not listen to influencer coaches who promise you golden mountains with minimal effort. If your attempts keep ending up in failure, you will risk giving up your dream. Read, learn, think in scale and take your time. When you will eventually come up with the winning idea, you have made it.

More information

Pavle Beslic (1985) studied Economics at Erasmus School of Economics. He obtained a Master’s Degree in Accounting, Auditing & Control. After his studies he first worked as an auditor at Deloitte, and later as an accountant on a freelance basis. In 2016 he made his first turnover with his company Staffyou.

This item is part of Backbone Magazine 2023. Backbone magazine is the corporate magazine of Erasmus School of Economics. A digital copy can be found here.

Michaëla van Velthuizen

Michaëla van Velthuizen - MSc Accounting, Auditing and Control (Audit track)

Curiosity, discipline and a good work ethic, combining these will make you a good fit for just any programme at Erasmus School of Economics.
Erasmus School of Economics alumna smiling at the camera
Curiosity, discipline and a good work ethic, combining these will make you a good fit for just any programme at Erasmus School of Economics.

 

During my bachelor I’d followed several types of courses. Of all these courses the accounting, analytical and finance courses interested me the most. Based on these topics I narrowed down the wide range of MSc programmes available and have visited the accounting, auditing and control, financial economics and Strategy Economics master programmes during an Open Day. Based on the presentations and interactions during these days, and additional information obtained I felt like this MSc programme would fit me best. The Audit track would therein provide me both knowledge on the academics around accounting, financial accounting as well as auditing. 

Why did you (at the time) choose for Erasmus School of Economics?

I initially choose Erasmus School of Economics at the moment of my decision for a BSc programme. The main factor for me at this moment was “where do I feel home”. I visited Erasmus University Rotterdam since it was highly ranked, and at the time of my visit immediately liked the city of Rotterdam. I already knew I was going to follow a BSc at the Economic faculty, so with my choice for the city of Rotterdam, and thus the highly ranked Erasmus University, Erasmus School of Economics was the result. 

What is your current job and what does it entail?

I work as a Junior Manager in the Audit Department at Deloitte. My client portfolio consists of International, listed and American listed companies. Auditing them means that we perform procedures to test managements assertions on their financial information, such as a financial statements or an quarterly earnings release. Furthermore I investigate the business processes within the organisation to get an understanding of how transactions flow through the organisation. Based on investigating their internal control we can assess whether there might be any flaws in their processes or controls, and whether these could lead to additional risks. Auditing is teamwork, hence for each client I work for there is a separate team. Next to teamwork being fun and educational, it also gives room to grow and take on more complex topics over the years and to grow to a project leader. Therewith you also work on your communication and people skills. These are also highly trained through interactions that you have with your clients.

"The basic theory from the courses taught during my Masters, I still use on a daily basis."

In what way do you use the skills and knowledge obtained during your bachelor and/or master in your professional life? 

The BSc programme has provided me with basic knowledge of economics and business economics, analytics and problem solving. The most direct link I can find between my day to day work and the BSc programme would be theory from the Financial Accounting courses. In the MSc programme I got more theoretical background on what auditing entails, on IFRS rules and on process management and internal control. The basic theory from the courses as taught during my Masters, I still use on a daily basis.

 

 

Erasmus School of Economics alumna smiling at the camera

Alumna Irene Odile de Vries

Irene Odile de Vries - Former student Master International Economics

Now that I am teaching, I do understand better why it is difficult to offer such a comprehensive approach
Now that I am teaching, I do understand better why it is difficult to offer such a comprehensive approach

Irene Odile de Vries had lived on four continents before coming to Erasmus School of Economics. She enrolled in a premaster course and the master’s in international economics because she wanted to understand the countries she had lived in. Gradually she came to realise that connections between economics and other disciplines are often overlooked. It motivated her to surmount several challenges to get to where she is now: an economics teacher with a wide following because of the innovative ideas she presents.

 

You arrived at Erasmus School of Economics in a roundabout way. Can you tell us how?

I obtained the International Baccalaureate in Malaysia and Australia where my family lived as expats. After graduating High School in Kuala Lumpur, I did not fancy going back to the Netherlands by myself, so I studied Psychology and Business Administration on the Malaysian campus of Monash, an Australian university. After six months, I continued on their Melbourne campus where I completed my studies in Business Administration. Looking for work experience, I moved to the Netherlands and subsequently New York to do jobs in event management. There is always a lot going on in New York City so after two years I left because I was tired and wanted to enjoy some travelling. When I started working in the Netherlands again, I went back to event management, but it soon felt like more of the same. Recently, I was diagnosed with ADHD, which helps me to understand why I dislike repetitiveness, and enjoy moving and changing jobs every couple of years. Knowing I have ADHD does not make it go away, but it does make my life a bit easier. The diagnosis helped me to see what my biggest challenges are, how to tackle them and forgive myself when I get stuck.

'The most surprising outcome of the premaster is probably that I now actually enjoy maths!'

In search of the next step in my career, I was reading a lot of books such as Doughnut Economics by Kate Raworth and a Dutch book that shows how market forces have come to determine everything from housing and labour to democracy and even love. When I attended a presentation by its author, Koen Haegens, I met people from a group called Rethinking Economics. This organisation, which is also very active in Rotterdam, is part of an international network of students and recent graduates that aims to build better economics education with the support of academic allies. These conversations, in combination with the books and my travels, inspired me to study economics. With an Australian Bachelor in Business Administration you cannot simply enter a Master’s programme in Economics so I enrolled in the premaster at Erasmus School of Economics. I chose this university because Rotterdam seemed like a nice city (which turned out to be very true). The premaster was certainly necessary for me because I lacked a foundation in mathematics, microeconomics and macroeconomics. The maths was particularly challenging initially, but thanks to other students I mastered concepts such as integrating and differentiating quickly. The most surprising outcome of the premaster is probably that I now actually enjoy maths!

Erasmus School of Economics

Why did you choose the Master in International Economics?

I had lived an international life and considered doing so in the future as well. The idea was that this degree would help me compare the places where I had lived so far. Why are some countries more developed than others? Why is the inequality in the US so much higher than in the other countries where I have lived? My study in international economics showed me where I have to look to answer these questions, while providing me with tools to analyse such information. What I missed, in my time at Erasmus School of Economics, was a comprehensive approach that takes into account how different disciplines are interwoven and how various economists approached the large issues of their time. Economic theories are the product of human thinking and, to a large extent, they are shaped by the assumptions and hypotheses used to formulate them. I believe it needs to be made very clear that economic theory is thus influenced by politics and idealism, and the broader historical context. Prospective students might be glad to hear that Erasmus School of Economics has recently expanded teaching on the ethics of methodologies and more perspectives are now included in the subject History of Economic Thought. I was happy with the structure of the course, which meant that the study was compartmentalised in several blocks, but writing a thesis was very hard for me. I now know that I need to engage in something new regularly. In-depth research, writing and rereading is very difficult for someone with my form of ADHD. I eventually managed to complete the process with the help of my friends.

'The debate behind every economic policy is a fascinating power struggle'

How has your view on economics influenced your career?

Upon graduating, I had various jobs in event management and journalism until I had a burnout. Looking back, I think this was partly due to a lack of boundaries between work and my private life. When I came back to work, I had a few talks with a career coach. During these sessions it became clear that editing opinion pieces for a newspaper, in which you have to work on long essays and stay on top of the news constantly, was not the right job for me. As a child I wanted to become a music teacher and during my master’s degree I enjoyed the classes so much that I could actually see myself teaching economics at some point in the future. This all came back to me when I was considering a career switch. A friend alerted me to an opening at a school in my neighbourhood and within no time I was standing in front of a class of exam students. I am studying part-time for a qualification as teacher at the highest level. In the Netherlands, you can use the knowledge gained at university to start teaching at this level immediately on the understanding that you will obtain the necessary diploma within three years. Part of my course is professional didactics, which I engage with enthusiastically. As a new teacher you bring your own external ideas and experiences to the field. I am actually surprised that there is no mandatory continuing education for high school teachers, something you see in many other professions.

What would you like to change in secondary education?

One of the reasons economics is interesting is that it can be applied in so many fields. The debate behind every economic policy is a fascinating power struggle. This is a subject that lends itself to examinations in the form of papers or discussions, not maths and multiple-choice questions. Now that I am teaching, I do understand better why it is difficult to offer such a comprehensive approach. Moreover, connecting with colleagues that teach a different subject and offer lessons that show how everything is linked, is proving difficult, even at a school where we are all in the same building.

I am critical of the emphasis on concepts such as GDP and sums in which there is no room for what is lacking in its calculation. There are opportunities to teach students about the boundaries to growth for example, but these remain fairly limited. The teaching methods tend to focus on giving the students enough practice with the mathematical side of the subject.

I would prefer an approach that shows students how economic concepts help us understand the way our world works. The required content of the curriculum is determined every four years, which makes it very difficult to include phenomena that are taking place in today’s society. I try to deal with this by inviting a guest speaker occasionally and following the news with my classes. When I read a newspaper article, I can see clearly the economic concepts that relate to each story and how to use it as an example in lessons. In my enthusiasm, it can be difficult to balance these real-world examples with explaining the theory and solutions to tricky questions. It was very reassuring to hear a student in the exam year say that the class discussion of news items helped them to understand the topic and see the practical use of economics lessons.

When I am not teaching or studying, I am also part of a team called Our New Economy. We advocate for better economics education at all levels and produce teaching materials that pay more attention to such things as sustainability and the balance of power on the labour market. I also publish ideas for economics teaching on LinkedIn and in a professional magazine for teachers, TEO. For example when Silicon Valley Bank collapsed, I created and shared teaching materials, and wrote about the opportunity to use this as an illustration of game theory or the prisoners’ dilemma. Perhaps it is even more important that future generations understand the consequences of their actions during an unfolding bank run than whether or not they are capable of doing their sums correctly.

Catalina Trohin

Catalina Trohin - International Bachelor in Economics and Business Economics

I got to make great friendships with people from everywhere around the world
Catalina Trohin looking at the camera
I got to make great friendships with people from everywhere around the world

I enjoyed mathematics as a subject in school and was curious to learn more about topics like economics, finance and accounting. I wanted to study in English among international students and this BSc programme seemed a great fit.

Why did you (at the time) choose for Erasmus School of Economics?

Besides the worldwide academic reputation Erasmus School of Economics has, I found all programmes offered by Erasmus School of Economics to be very well structured, with fundamental courses in the first two years and plenty of flexibility in the last year where you could choose between various majors as well as internships and exchanges. Rotterdam seemed like a great option because of the city vibes and all the cultural, social and recreational facilities the city offers.


 

Students walking on campus with a bike

What did you like most about the bachelor programme?

The thing I liked the most about the bachelor were the fellow students I met. IBEB being such an international program, I got to make great friendships with people from everywhere around the world.
 

What is your current job (and what have you been doing before) and what does it entail?

I currently work as a Data Analytics Engineer for a fintech based in London. My job is to provide clean and reliable data sets to end users and empower them to answer their own questions. That means ensuring the data is ingested, transformed, scheduled, and ready for analytics. The finance and accounting courses during my studies proved to be useful while working in a payments company. Also, the multiple group projects during my bachelor improved my teamwork and communication skills. 

What advice would you give to potential students?

You may feel lost, not have a clue of what’s going on or even suffer from the imposter syndrome at the beginning. You are certainly not alone in feeling that, and as you advance in your studies you will get to enjoy it more and will feel at ease.  

Catalina Trohin looking at the camera

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