Meet our Alumni

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!

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!

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. 

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'.

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. 

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.

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.

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.

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.

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.

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.

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.