Booming Demand For European Business Masters Programs

Applications to European business masters programs are booming. We speak to admissions staff at Imperial, LBS, Bocconi and more top European business schools to find out why

Brexit

The combined impact of COVID and Brexit on applications to business schools is what Leon Laulusa, dean for academic affairs and international relations at ESCP Business School (pictured above), calls the “Brovid” situation.

Since Brexit increased uncertainty around job opportunities in the UK for internationals, candidates from India and China, who may have traditionally considered programs in the UK, have been drawn to master’s degrees in mainland Europe instead.

BI saw increases in applications from China, India, Mexico, Germany, and the US. The Norwegian government opened its borders to full-time international students in July allowing them to join in-person classes starting in August.

Hannah Page, from WHU, says she’s seen more candidates choose Frankfurt over London because companies and banks have moved their offices there. WHU is based an hour’s drive from Frankfurt.

“A lot of people who would usually come to Europe and go the UK, look at what else is out there and see Germany,” she says.

Brand power

UK schools with strong brand reputations continue to attract applications regardless. Imperial College Business School saw significant growth in applications to its masters programs in 2020, particularly its business analytics and fintech programs.

Amy Duckworth, director of admissions at Imperial, says the school’s strong reputation in technology, innovation, and the STEM fields, as well as its position in the rankings, contributed to its success.

Anne-Flore Maman Larraufie, academic director for advanced masters in strategy and management at ESSEC, puts the school’s huge growth in applications partly down to its reputation for innovation.

“We’re advanced in terms of the experience we can provide for our students and innovation is in our DNA. When the pandemic started, the school got prepared to switch online, so when it came to March, all our professors knew what to do; it was really a natural process.”

ESSEC also allowed candidates who couldn’t take the GMAT due to test center closures to take an alternative admission exam designed by the school.

While 2020 has been a disruptive year for business school candidates, European business masters programs continue to offer students transformative experiences, access to the top employers, and rigorous training for future management roles.

INSEAD welcomed its first Master in Management cohort in fall 2020 and expects to increase its class size next year.

“By all means, 2020 was unlike any other previous year,” says Virginie Fougea, INSEAD's global director of admissions (pictured above). “But, despite the uncertainty, applicants are still considering investing in their education.”