The combination of new knowledge, skills, experiences, and connections means that an MBA can lead to exciting new job opportunities, often with a higher salary and increased mobility.
While the US is the birthplace of the degree, MBA programs in Europe are known for offering students multicultural exposure and providing highly diverse classrooms. With many of the continent's most enticing locations housing top-ranking MBA degrees—Paris, London, Berlin to name a few—Europe is a top study destination.
So what are the best MBA programs in Europe? Each year the Financial Times publishes a comprehensive ranking of the best MBA programs in the world. The list contains entries from the US, Europe, and Asia.
Within the recently published 2024 ranking, five European business schools featured among the top 15 spots in the list. So, here are the five best MBA programs in Europe that can help propel your career.
5 Best MBA Programs In Europe
5. HEC Paris
Estimated cost of attendance: $127,411
A highly prestigious business school based in France—as the name suggests—HEC Paris is a mainstay among business school rankings. The school consistently features among the best in the world for several of its degree programs.
HEC Paris offers a 16-month MBA program with a range of specializations in areas ranging from finance to luxury. It prepares students to lead and manage businesses all over the world.
Students from the program are highly sought after by companies like Amazon, Deloitte, Bain and Company, and many others. They command average salaries of around $175,673.
That said, successful applicants to the program often have slightly higher work experience compared to other schools in this list, with candidates from the latest cohort having around six years before joining.
The application process is also slightly different with HEC Paris. A pre-selection jury will go through all the applications and if shortlisted, candidates will attend two interviews with alumni from the program.
After the interviews, another jury will make a decision on admission.
4. London Business School
Estimated cost of attendance: $206,126
London Business School has a strong reputation as one of the top management programs in the world, attracting diverse talent who benefit from the opportunity to live and study in one of the world's major commercial hubs.
Despite offering a highly reputed degree, LBS also recently took the decision to launch a new accelerated MBA program that's available to Master in Management graduates.
For the current LBS MBA, the program offers courses in finance, marketing, accounting, strategy, and general management.
The latest cohort comprises 487 students from 63 countries with backgrounds in consulting, finance, accounting, and IT. On average, students have more than five years of work experience.
After graduation, students go on to work in companies like Amazon, Google, Goldman Sachs, and others commanding an average salary of $192,231.
To apply, candidates must have a GMAT or GRE test score and TOEFL or IELTS scores to prove their English language skills. Applications should include grades and transcripts from all the universities they have attended and references from a current employer or someone who knows their professional capabilities.
Candidates are selected for an interview based on their application, after which a final decision is made on their application.
3. IESE Business School
Estimated cost of attendance: $158,358
The top business school in Spain, based in the Catalan cultural epicenter of Barcelona, IESE Business School is among the most prestigious business schools in Europe.
It has consistently placed among the top of the FT MBA Ranking, competing with the often dominant US-based M7 business schools.
The IESE MBA program offers courses in accounting, planning, finance, operations management, strategy, among others. It empowers students to build careers with world-renowned companies such as Amazon, Accenture, and Bain.
On average, students from the IESE MBA command salaries of around $186,339 after graduating.
Chosen from a large pool of candidates based on their academics, personal drive, confidence, work experience, and other factors, IESE invites the best and the brightest to accelerate their careers.
To join the program, eligible candidates must fill out an application along with video essays, official transcripts, GMAT/GRE and TOEFL/IELTS scores, and a letter of recommendation.
Besides the video essays, students are also required to write an essay on a given topic.
2. SDA Bocconi School of Management
Estimated cost of attendance: $98,621
The SDA Bocconi School of Management in Italy is known for its courses that prepare students to be leaders in luxury product markets, as well as dynamic innovators and entrepreneurs.
As such, the MBA program is highly attractive, bringing in students from around the world. The latest cohort of Bocconi MBAs comprises 113 students from 38 different countries.
Like HEC Paris, students on the SDA Bocconi MBA are slightly more experienced than other schools, with an average work experience of six years. After graduation, students make an average of $202,534 at companies like Accenture, McKinsey, and Bain.
To successfully apply, candidates need to have TOEFL/IELTS/PTE scores to prove their English fluency and a GMAT/GRE score to show their academic abilities.
Along with their application, candidates must attach their degree certificate, resume, and references and must complete a video pre-interview. Successful candidates will be selected based on this for interview, following which they may receive an offer letter.
1. INSEAD
Estimated cost of attendance: $137,593
INSEAD describes itself as 'the business school for the world', and as a result it is renowned throughout the globe. Formerly the number one ranked MBA program in the world by the FT, in 2024 the publication placed the INSEAD MBA second overall.
INSEAD's truly global reputation means it is a popular MBA program that attracts students from all over the world: the latest cohort comprises candidates from 110 countries.
A program within which innovation and sustainability are paramount, INSEAD provides an accelerated course that can be completed in just 10 months. Within that time, students must complete 14 core modules and can choose from more than 75 electives. The curriculum includes courses in finance, accounting, organizational behavior, strategy, and other fields of management.
The INSEAD MBA sets up students for top positions in a variety of companies. It is particularly strong when it comes to consulting, as the number one target school when it comes to placing students within the industry. As such, key recruiters of INSEAD MBAs are the Big Three: Boston Consulting Group, Bain, and McKinsey.
Graduates from INSEAD command average salaries of around $198,904.
To apply for the program, candidates need a university degree and valid GMAT/GRE and IELTS/TOEFL/PTE scores. The ability of students to adapt and be flexible in multicultural environments as well as their work experience and quality of achievements play a huge role in the selection process. Along with the application, candidates must also submit an essay, their academic transcripts, letters of recommendation, and a resume.
Shortlisted candidates may have to go through two rounds of interviews before they receive an offer of admission.
All estimated attendance costs are sourced from the 2023 BusinessBecause Cost of MBA Report
