Interviews
Interviews
Podcast
11.4.2023
Markus Rudolf has to squint, the sun is blinding him in the WHU office on one of the first beautiful February days of the year. Behind him hangs a green board with many different figures, including the number of students and the amount of fees at his private university. But one figure is particularly important - whether it's on the board or not: WHU's position in the world's most important business school rankings, carried out by the Financial Times. This year, WHU is in 13th place, the best position in the history of the private university - a milestone.
A beautiful bike, a Mikamaro Urban Bike. Although it looks very traditional, it has a V-belt drive and all the technology is highly modern. I also have a basket for it and am happy every morning when I ride the eight kilometers from Koblenz to the WHU campus in Vallendar.
It can be very stressful at times and certainly more stressful than I imagined it would be as a professor. I used to read papers, give lectures and do research. I still do all that today, but I also have to manage a medium-sized company. WHU has 2100 students, 300 employees and a budget in the millions. The responsibility is just as great as that of a medium-sized company and that can be stressful from time to time.
The university is in fact only 70 percent self-supporting, the other 30 percent comes from the Beisheim Foundation. We receive most of the money from tuition fees and a smaller proportion comes from donations, including from alumni.
That varies greatly depending on the program. But let's take a look at the Bachelor's program, which is 47,400 euros spread over six semesters. That means you pay 7,900 euros per semester, which includes the costs for the six-month stay abroad, which is compulsory at WHU. For this money, however, you also receive an education that you would never get at a state university and study with fellow students who have all achieved above-average results at school.
We are aware of this, which is why we have worked hard in recent years to ensure that talent and performance are decoupled from financial constraints. Today, only around 40 percent pay the full amount, the majority receive either relief or other assistance. Many receive a scholarship, there is a student loan from the savings bank and we have an income share program model from Brain Capital. This means that students today pay little or nothing and in return give up a fixed percentage of their salary in the first ten years of their career, but only up to a certain income limit. This means that anyone who does not want to or is unable to do so during their studies can easily defer financing.
Financially speaking, certainly. However, if you look at the breakdown between domestic and foreign students, you can see that more than 80 percent of students on the Bachelor's program still come from Germany. In the other programs, such as the Executive MBA, the figure is less than 30 percent. We would like to see an even greater mix in the younger cohorts, which is one of the reasons why we offer large parts of the program in English only.
We do not have a classic numerus clausus, and previous school performance is not the only decisive factor for acceptance. Applicants must also demonstrate a good command of English and initial practical experience, but above all there are selection interviews. Nevertheless, the grade point average is usually excellent, much better than my own.
I graduated from high school with a 2.6, but I only discovered the serious side of life afterwards when I studied business administration and mathematics in Trier. My grades were much better there because I discovered my great passion for science. I then did my doctorate and habilitation in St. Gallen and then accepted one of three appointments as a professor at WHU, which was before the turn of the millennium. I then took on more and more responsibility, enjoyed it and was finally elected Rector in 2015.
I certainly had that. But you have to remember: an entrepreneur couldn't run a business school because, on the one hand, it would be primarily profit-oriented, but here you have to work first and foremost with a focus on quality. On the other hand, an entrepreneur has clear structures like a pyramid with a boss at the top. You don't have that at a university. You have many professors in various faculties, all of whom are very smart. The job of the rector is therefore often a moderating one. And you also have to see that: If you only look at academic performance, you won't be able to run a business school because you will lose sight of the finances. I think that's where my talent lies: I was able to explain to the faculty that it's worth organizing courses in such a way that they attract the best students and also bring money into the coffers, which can then be reinvested in research.
I personally haven't been to a trade fair or similar for a while, but we often attend national and international marketing events, always with colleagues. We talk to interested people there and, of course, with Bachelor students, we also talk to their parents about funding. But we also have many other programs where the applicants are 30 or 40 years old, and of course I also try to convince them of the advantages of WHU.
That has a lot to do with history. In the USA, private universities have a long tradition, which was broken in Germany one day. Before the war, during the Weimar Republic, a business school in Cologne or Vienna could easily compete with Harvard. After that, however, there was a strong shift towards state universities, and then, unfortunately, with the opening up to the masses from the 1970s onwards, a certain aversion and skepticism towards private universities developed.
You can certainly also study at a state university and do very well. I also studied in Trier and I became something. But you simply have completely different conditions at private universities like Harvard, Stanford or WHU. The professors are more prominent, the research is much stronger and the network is of course also very good. In the USA, there is often a campus with a swimming pool, sports hall and restaurants. It's a completely different experience that you can take away much more from as a student.
It is not an integrated campus, but we have bought many inner-city buildings in Vallendar over the past few years and the students live directly around them, which creates a campus feeling. In addition, there are many initiatives by students who are attracted by the WHU spirit. Of course, this is also very strongly oriented towards US universities, because this feeling is simply special.
Our students independently organize many conferences, for example on sustainability or finance, and are thus leaders throughout Europe. We also organize Euromasters, the largest sporting event at European business schools. We host 2,000 people from the best business schools in Europe. It's a huge spectacle with a six-figure budget, but it's organized by students and financed by sponsors. There is a lot of initiative on the part of the students.
We are very proud of this, as we can compete with major rivals such as Harvard in terms of start-up activities. At Zalando and Hello Fresh, founders come from WHU, just like at Home24. In 2021, 15 of them came from our university alone.
It has actually developed independently. The people who come to us think much more entrepreneurially than at other universities in Europe. They weigh up risks and opportunities intensively. That was the case in the past, it is the case today, and that is how we have become a start-up university. In addition, we have many programs that are aimed precisely at this, and the two are now somewhat interdependent.
Personal details: Markus Rudolf, 56, has been Rector of the renowned WHU - Otto Beisheim School of Management since 2015. As such, he has shaped the business school into one of the best in the world. He originally studied mathematics and business administration in Trier and later completed his doctorate and habilitation in St. Gallen before joining WHU as a professor.
Interviews
11.4.2023
Nils Wischmeyer
Markus Rudolf has been Rector of the renowned WHU - Otto Beisheim School of Management since 2015. In this interview, he talks about his sales talent, prejudices against private schools in Germany - and explains why so many successful founders once studied at WHU.
Markus Rudolf has to squint, the sun is blinding him in the WHU office on one of the first beautiful February days of the year. Behind him hangs a green board with many different figures, including the number of students and the amount of fees at his private university. But one figure is particularly important - whether it's on the board or not: WHU's position in the world's most important business school rankings, carried out by the Financial Times. This year, WHU is in 13th place, the best position in the history of the private university - a milestone.
A beautiful bike, a Mikamaro Urban Bike. Although it looks very traditional, it has a V-belt drive and all the technology is highly modern. I also have a basket for it and am happy every morning when I ride the eight kilometers from Koblenz to the WHU campus in Vallendar.
It can be very stressful at times and certainly more stressful than I imagined it would be as a professor. I used to read papers, give lectures and do research. I still do all that today, but I also have to manage a medium-sized company. WHU has 2100 students, 300 employees and a budget in the millions. The responsibility is just as great as that of a medium-sized company and that can be stressful from time to time.
The university is in fact only 70 percent self-supporting, the other 30 percent comes from the Beisheim Foundation. We receive most of the money from tuition fees and a smaller proportion comes from donations, including from alumni.
That varies greatly depending on the program. But let's take a look at the Bachelor's program, which is 47,400 euros spread over six semesters. That means you pay 7,900 euros per semester, which includes the costs for the six-month stay abroad, which is compulsory at WHU. For this money, however, you also receive an education that you would never get at a state university and study with fellow students who have all achieved above-average results at school.
We are aware of this, which is why we have worked hard in recent years to ensure that talent and performance are decoupled from financial constraints. Today, only around 40 percent pay the full amount, the majority receive either relief or other assistance. Many receive a scholarship, there is a student loan from the savings bank and we have an income share program model from Brain Capital. This means that students today pay little or nothing and in return give up a fixed percentage of their salary in the first ten years of their career, but only up to a certain income limit. This means that anyone who does not want to or is unable to do so during their studies can easily defer financing.
Financially speaking, certainly. However, if you look at the breakdown between domestic and foreign students, you can see that more than 80 percent of students on the Bachelor's program still come from Germany. In the other programs, such as the Executive MBA, the figure is less than 30 percent. We would like to see an even greater mix in the younger cohorts, which is one of the reasons why we offer large parts of the program in English only.
We do not have a classic numerus clausus, and previous school performance is not the only decisive factor for acceptance. Applicants must also demonstrate a good command of English and initial practical experience, but above all there are selection interviews. Nevertheless, the grade point average is usually excellent, much better than my own.
I graduated from high school with a 2.6, but I only discovered the serious side of life afterwards when I studied business administration and mathematics in Trier. My grades were much better there because I discovered my great passion for science. I then did my doctorate and habilitation in St. Gallen and then accepted one of three appointments as a professor at WHU, which was before the turn of the millennium. I then took on more and more responsibility, enjoyed it and was finally elected Rector in 2015.
I certainly had that. But you have to remember: an entrepreneur couldn't run a business school because, on the one hand, it would be primarily profit-oriented, but here you have to work first and foremost with a focus on quality. On the other hand, an entrepreneur has clear structures like a pyramid with a boss at the top. You don't have that at a university. You have many professors in various faculties, all of whom are very smart. The job of the rector is therefore often a moderating one. And you also have to see that: If you only look at academic performance, you won't be able to run a business school because you will lose sight of the finances. I think that's where my talent lies: I was able to explain to the faculty that it's worth organizing courses in such a way that they attract the best students and also bring money into the coffers, which can then be reinvested in research.
I personally haven't been to a trade fair or similar for a while, but we often attend national and international marketing events, always with colleagues. We talk to interested people there and, of course, with Bachelor students, we also talk to their parents about funding. But we also have many other programs where the applicants are 30 or 40 years old, and of course I also try to convince them of the advantages of WHU.
That has a lot to do with history. In the USA, private universities have a long tradition, which was broken in Germany one day. Before the war, during the Weimar Republic, a business school in Cologne or Vienna could easily compete with Harvard. After that, however, there was a strong shift towards state universities, and then, unfortunately, with the opening up to the masses from the 1970s onwards, a certain aversion and skepticism towards private universities developed.
You can certainly also study at a state university and do very well. I also studied in Trier and I became something. But you simply have completely different conditions at private universities like Harvard, Stanford or WHU. The professors are more prominent, the research is much stronger and the network is of course also very good. In the USA, there is often a campus with a swimming pool, sports hall and restaurants. It's a completely different experience that you can take away much more from as a student.
It is not an integrated campus, but we have bought many inner-city buildings in Vallendar over the past few years and the students live directly around them, which creates a campus feeling. In addition, there are many initiatives by students who are attracted by the WHU spirit. Of course, this is also very strongly oriented towards US universities, because this feeling is simply special.
Our students independently organize many conferences, for example on sustainability or finance, and are thus leaders throughout Europe. We also organize Euromasters, the largest sporting event at European business schools. We host 2,000 people from the best business schools in Europe. It's a huge spectacle with a six-figure budget, but it's organized by students and financed by sponsors. There is a lot of initiative on the part of the students.
We are very proud of this, as we can compete with major rivals such as Harvard in terms of start-up activities. At Zalando and Hello Fresh, founders come from WHU, just like at Home24. In 2021, 15 of them came from our university alone.
It has actually developed independently. The people who come to us think much more entrepreneurially than at other universities in Europe. They weigh up risks and opportunities intensively. That was the case in the past, it is the case today, and that is how we have become a start-up university. In addition, we have many programs that are aimed precisely at this, and the two are now somewhat interdependent.
Personal details: Markus Rudolf, 56, has been Rector of the renowned WHU - Otto Beisheim School of Management since 2015. As such, he has shaped the business school into one of the best in the world. He originally studied mathematics and business administration in Trier and later completed his doctorate and habilitation in St. Gallen before joining WHU as a professor.
About the author
Nils Wischmeyer
Nils Wischmeyer writes about financial markets, investments, banks, banking regulation and white-collar crime.
