Markus Kaschnigg

IESE Business School

“I am an energetic leader who loves to bring out the best in myself and others.”

Hometown: Vienna, Austria

Fun fact about yourself: I always wanted to become a professional ice hockey player (but only briefly succeeded); a business career was only my plan B.

Undergraduate School and Degree: London School of Economics and Political Science – MSc in Accounting. Vienna University of Economics – BSc in Business Administration

Where was the last place you worked before enrolling in business school? Boston Consulting Group – Consultant in the Private Equity Practice

Where did you intern during the summer of 2023? Private Equity Intern; Bencis Capital; Düsseldorf, Germany

Where will you be working after graduation? Private Equity Investment Manager; Bencis Capital; Düsseldorf, Germany

Community Work and Leadership Roles in Business School:  

• First year honors for academic excellence during the first year of the MBA program
• DACH Business Club – VP Mentoring – Setting up the mentoring program for incoming students of the DACH region and mentoring several myself
• Private Equity & Venture Capital Club – VP Treks – Organized two full-day career events consisting of sessions with up to 10 leading Private Equity funds
• Mentor of several students in the Private Equity Club
• Winner of the International Private Equity Competition
• Winning team of the IESE Capstone project

Which academic or extracurricular achievement are you most proud of during business school? It might sound unspectacular but due to a challenge in my personal life I am most proud of how I made it through the exam week of my first term. It was after my very first exam that I turned on my phone to see dozens of calls and messages. Exactly one minute after my exam had started,1 my 1-year-old had gone into the emergency room after what was supposed to be a routine check. It turned out she had a severe lung infection with one lung almost completely out of action and she was at acute risk of suffering a shortage of oxygen. The next nights and days, I either spent with the baby connected to a multitude of infusions and monitors sleeping on me, or with me on the hospital couch. At first, I wanted to completely abandon the exams but after doctors confirmed the baby was stable and starting to recover well, I ultimately took them. Over the next few days, I rushed straight to exams and back to hospital with my wife taking care in the meantime. As I was constantly running on <4 hours of sleep and with my mind clearly not focused on the exams, I was sure the results would be a disaster. To my own surprise that was not the case – I ended the term with straight A’s and achieving the highest scores of all students. I was rarely in my life stretched to my mental limits like this and therefore this outcome truly makes me proud.

What achievement are you most proud of in your professional career? As a consultant I have always been proud when I managed to wrap my head around challenging questions in industries that I had very little knowledge about. In one project, I was tasked with analyzing the markets for dozens of drugs for rare diseases in various countries. I was the only person on the team without a medical background and in the beginning was not even able to pronounce the product names or the diseases they treated. However, I had to run my module independently under time pressure. I was intimidated, especially as this was such a serious topic, and I was impressed by how these drugs could change the lives of people. Yet, I accepted the challenge and gave everything I could to support the client. I ultimately did not only succeed, but also managed to fully convince the most senior experts on the client side. The customer was so impressed that I was the only person they specifically requested to be on the next phases of the project, and even threatened to cancel the project if I wasn’t on it. I am proud of this achievement, as it showed me that I can adapt and succeed even in the most unfamiliar and challenging settings.

Why did you choose this business school? As I wanted to pursue my career in Europe, it was clear I would go for a European school. After receiving offers from all top three schools, it was a tough choice, but it came down to three factors. Firstly, the strong focus on the case method of IESE was very appealing to me and preferable to lecture-based learning. Secondly, some of my mentors and friends had already attended IESE. Their insights into the unique spirit and family-friendliness of the school were priceless. Lastly, the location in Barcelona absolutely won over my family as it offered a tremendous quality of life.

Who was your favorite MBA professor? My favorite professor during the program was Marc Badia. Besides leading the program, he taught us Accounting in one of the initial courses of the MBA. While I do have a passion for accounting and did my MSc in the subject, even I must admit it can at times be quite dry. This is not the case with Marc. From the first class on, he managed to get students passionate about accounting with a mix of unique cases (e.g., accounting for a football club), always having a joke on his lips to lighten up the mood on a Monday morning and his ability to explain any complex IFRS standard for dummies. On top of all that, Marc is not only a rock star in teaching terms, but also on a personal level. I have met very few academics that care so deeply about their students and always have an open ear for them.

What was your favorite course as an MBA? My favorite course was “Venture Capital and Private Equity” during my second year. Having spent my whole professional career in the Private Equity space, I was looking forward to this course from day 1 of my MBA. To my delight, the course surpassed my expectations. It had a tremendously practical approach. While covering various key aspects of the industry in theory and through looking at cases, the protagonists of the examples were always sitting in class as guest speakers. These could be the founder of a thought leading impact fund, various partners of leading VCs or even a former vice-chairman of Blackstone. On top of that, students got the chance to have intimate dinners in a small group with the guest speaker on the evenings before class. Those were truly unique experiences that I will remember for a long time.

What was your favorite MBA event or tradition at your business school? The most memorable & biggest event at IESE is Multi-Culti with ~1,000 people attending. This all-evening (and night) event is hosted at the unique Poble Espanyol, an open-air museum replicating a village with different styles of Spanish architecture and a large town square. Here each country has its own stall offering typical food & drinks with people wearing traditional outfits and showcasing local traditions. Imagine dozens of stands offering everything from Indian Pani Puri, Lebanese Baklava, Chilean Pisco, Spanish Tapas, German beer, Peruvian Ceviche and much more. Later in the evening, each country also gets on stage to showcase a typical dance or other performance. This event exemplifies the beauty of studying in the international environment with more than 50 nationalities at IESE. To me personally it also symbolizes the importance of being curious about other cultures and willing to try new things – something IESE strongly encourages, and which every MBA should have.

Looking back over your MBA experience, what is the one thing you’d do differently and why? Initially I was quite eager to learn Spanish during my time in Barcelona. Hence, I took an intensive course at the start of the MBA and made quick progress. While I took some classes afterwards, the endless opportunities during the MBA (professional events, social events, coursework, etc.) as well as my very limited language learning talent got the better of me. Apart from my ongoing mediocre efforts to learn on Duolingo, I ended my attempt. This unfortunately meant that I could never fully immerse in the local culture and missed out on many potentially interesting encounters in which the person could not speak English.

What is the biggest myth about your school? Given its strong heritage and leading position in Spanish speaking countries some people think IESE is only focused on these regions. However, it couldn’t be farther from the truth. There are more than 50 nationalities in the program with Spain only accounting for 15% of students (far less than Asia or North America) – it’s a truly global experience.

What surprised you the most about business school? The slogan of the IESE MBA is “the journey of a lifetime”. I always believed that the MBA would be a fantastic time. At the same time, I thought the slogan was some sort of exaggerated marketing. However, I was completely wrong. The MBA has been one of the most formative experiences of my life. During the program, I had the chance to meet truly impressive personalities among my classmates that left a deep impression on me. Their experiences and views allowed me to question my own views, realize how much I did not know and broaden my horizon. Especially with the case method used at IESE, learning is achieved by studying alongside fellow students. Through this approach, my learning curve was steeper than anything I expected. While we discussed hundreds of cases during our time together, there was always somebody who had been in the situation of the case or knew the industry from inside and could share his invaluable experiences. However, the MBA was far more than just about the academic environment. It also allowed me to make lifelong friendships around the globe that mean a lot to me. Strangers became close friends whose weddings I will attend soon and who babysit my kids. Overall, the MBA changed me much more thoroughly and in so many more ways than I could have ever imagined, allowing me to grow into a better person. I can therefore only confirm that it was truly the journey of a lifetime.

Which MBA classmate do you most admire? The person I admire the most in our program is Omar Murad. Omar comes from a non-business background and had been working for almost 10 years before the MBA. While this meant he had an impressive career, he certainly had to adapt to studying again and catching up with people that already had a business degree. From the beginning, I was impressed how, when faced with the challenge of a completely unfamiliar subject, Omar overcame each successive hurdle with a smile always on his face and enjoying life.

Yet the biggest hurdle was still to come. It was in the beginning of our last term of the first year when Omar broke the shocking news to our team: he had been diagnosed with cancer and had to undergo major surgery soon. But there was no way Omar would be stopped by this. He successfully underwent surgery and despite missing many classes managed to complete the term. On top of that, he crowned his comeback by being part of our team that won the IESE capstone project – in large part because of a genius idea by him.

But just as everything seemed to be going well again, things took another turn. Over the summer, tests showed the cancer was still present and Omar would need several rounds of chemo. To this day, I have no idea where he got the strength from, but Omar did not only make it through chemo and won the fight against cancer – he was also determined to finish his MBA. I was certain he would take a year off or end his MBA journey after this life-changing experience. Instead, Omar went back to school right after the chemo and is currently working hard to obtain his degree. While everything about Omar’s story is impressive, what impressed me most is that during these tough times, I never saw Omar without a smile and a positive mindset.

To me, the MBA journey is not about who gets more As or who is the president of a fancy student club – it is about personal growth and overcoming real challenges. Therefore, I can only admire Omar and am happy to call him a friend.

What are the top two items on your professional bucket list? I genuinely enjoy supporting others and I hope one day someone I mentor goes on and achieves something huge like becoming CEO or president. And, at some point, I want to take over my family’s business and bring it to the next level expanding into new business areas & regions to build a legacy for the next generation.

What made Markus such an invaluable addition to the Class of 2024?

“Markus’s academic journey has been nothing short of stellar. He completed the first year of the MBA with one of the top academic records. His professional preparation and active participation in class significantly contributed to improve the learning experience for the rest of his classmates, as I personally witnessed in my Financial Accounting course. Markus had the ability to articulate persuasive arguments in class that enriched our case discussions. He shined both in subjects where he had an in-depth previous knowledge and in subjects that were completely unfamiliar to him, showing a great intellectual versatility. Markus’s leadership acumen and teamwork skills are noteworthy, drawing from his background as a former professional athlete and a member of the Austrian Armed Forces. Beyond academics, Markus seamlessly manages the intricate balance between family responsibilities and the rigorous demands of the MBA program. This is a testament of his strong character, resilience, and time management skills. His unwavering support for fellow students, always extending a helping hand and mentoring in both academic and career-related endeavors, speaks to his spirit of service and exemplifies what IESE stands for.

Markus’s journey is not only one of academic excellence but of exceptional positive, deep and lasting impact on our MBA community. The support of Poets & Quants will undoubtedly amplify the recognition of Markus’s outstanding achievements.”

Prof. Marc Badia
Professor of Accounting and Control
Deputy Dean
IESE Business School

“Since his arrival at IESE, Markus has always stood out from an already very smart group of students, especially for his genuine academic talent as well as his discreet and humble attitude. By the end of the first year of the program, it was no surprise he was awarded with the First Year’s Honors, in recognition for his academic excellence.

Personally, it was a privilege to witness Markus be the first MBA intern ever with a full-time offer from the investment fund company he interned at – a great achievement which highlights once again Markus’ effort, competence, and dedication towards the goals he sets himself.

Lastly, it should also be mentioned that, besides being both an exemplary student and professional, Markus is an example of a caring father of two children, who has successfully managed to balance the rigorous academic calendar of IESE MBA Program and his dedication to his family with responsibility and teamwork. We are very proud of having Markus as part of the IESE community.”

Esther Curpián
Associate Director
MBA Program

DON’T MISS: THE 100 BEST & BRIGHTEST MBAs: CLASS OF 2024