exclusively for ChaseDream by Matt Symonds
Anyone who has tracked the full-time MBA rankings of the Financial Times and The Economist in recent years will be aware of the growing dominance of European Business Schools amongst the world's top MBA programs. The latest results of both rankings identify 12 European schools among the top 25, with schools from the UK and Spain in the top slot.
For a Chinese professional looking for an international experience and solid post-MBA job prospects, the European MBA has rarely looked more attractive. The typically shorter 12 to 18 month MBA programs in Europe offer an attractive ROI for candidates who would have otherwise have opted for top US business schools. And the earnings power and diverse career options reported by schools in Belgium, France, Germany, Italy and Spain suggest that many more Chinese applicants will be heading to Europe for their MBA in the coming years.
So who are the challengers to the European throne? Beyond the familiar trio of IMD, INSEAD and the London Business School, there is a new elite of European business schools that all outperform in different ways. Though many of their graduates still make their way into the top investment banks and consultancy firms, these schools each have unique areas of expertise and innovation for which they enjoy a global reputation.
In stylish Milan, Italy’s financial and fashion capital, SDA Bocconi combines cultural heritage and creativity with a forward-looking global approach to business. Consistently among the top 10 schools in continental Europe, Bocconi delivers the best of Italian business - the mix of tradition, know-how and marketing vision that supports luxury brands such as Armani, Gucci, Prada, matched with innovation, technical excellence and flair that keeps Ferrari, Pirelli and Italian designers ahead of the rest. The school also boasts one of the largest alumni networks in Europe.
HEC Paris shines among the top schools in France – in fact the alumni reads like a Who’s Who of European business. Ranked #1 business school in Europe by the FT for the last 4 years, the school is recognized by Princeton Review as the strongest business school outside the US for marketing. Although proud of its traditions HEC Paris is firmly rooted in the 21st century and has pioneered the use of smart technology in the classroom through its work with Apple.
The new elite of Cambridge-Judge and Oxford-Saïd in the UK are relative newcomers to business education (their MBAs began in the mid-Nineties), but the earnings power and employability of their graduates continues to propel them. And amidst the dreaming spires of the 800 year-old universities the business schools are developing reputations for international management and entrepreneurship.
Spain is now host to several world-class business schools. Esade Business School was #1 in the last Wall Street Journal international ranking, and is recognized by the Aspen Institute as the second most innovative MBA program in Europe, incorporating corporate social responsibility into the curricula. And if you are going to spend 12 to 18 months getting your MBA (ESADE offers a flexible structure so candidates can choose), Barcelona is surely one of Europe’s great cities in which to study. The city is also home to IESE, created with the assistance of the Harvard Business School. Graduates rate the school as amongst the best for new career opportunities. In neighboring Madrid, the IE Business School draws nearly six applications for every available place in the class, and the Centre for Eco-Intelligent Management is an example of the school's forward thinking.
And in the heart of Europe, graduates of Belgium’s Vlerick Leuven Gent seem to be doing better than many on the job market, benefiting from the multinationals and IT / biotech cluster around Brussels. Ranked #10 in the world by The Economist, the school is now taking its blend of innovation and entrepreneurship to St Petersburg and Beijing.
As Chinese candidates question the ROI of an international MBA, and look for ways to distinguish themselves in an immensely competitive job market, these elite European business schools could provide the answer.
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Matt Symonds is founder of business school consultancy, SymondsGSB, and author of "Getting the MBA Admissions Edge", the b-school bestseller sponsored by Goldman Sachs and McKinsey. His regular columns for The Economist, Forbes and BusinessWeek are available at http://symondsgsb.wordpress.com
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