One of the most crucial steps to start your journey in the field of an MBA, is choosing the right business school. While the tuition component of some of the best MBA colleges in the world can be hefty, the return on investment is definitely at par, and sometimes, even higher! Top MBA colleges in the world will offer you umpteen number of benefits including a high ROI, variety of specializations to choose from, a global community, and also keep you updated on the international business standards.
So let's get started and take you through the best management colleges in the world, along with all the relevant details!
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Factors Considered while Ranking B-Schools
This year, 280 business schools were ranked, in 45 recognised study abroad destinations, on the basis of some competitive indicators like employability rates, average salary of graduates, class profile, etc. So what is it that makes some management schools stand out from others? Let us make you aware about the benefits of pursuing MBA abroad:
- Employability: Employability is measured through the QS Global Employer Survey, wherein some of the best recruiters fill a survey to choose their favourite B-schools, to choose students from. Some employers who take part in this survey are Facebook, Uber, Google, Bank of America, etc.
- Entrepreneurship and Alumni Outcomes: Alumni Outcomes Index is used to analyze B-schools with more than 50,000 CEOs, at some of the greatest companies in the world including Apple, PepsiCo, JPMorgan Chase, etc. the entrepreneurship criteria, on the other hand, is reported by B-schools themselves, and definitely considered of an utmost importance.
- Return on Investment: An extensive research on ROI is done, in order to come up with schools offering the best return on investment. Salaries before pursuing MBA are compared with the post MBA salaries. Also, the ROI considered is one of 10- years.
- Thought leadership: This parameter is used to measure the reputation of the best B-schools across the world. Business school nominations, research impacts, and faculty with PhD degrees are some aspects considered while ranking according to this particular factor.
- Class and Faculty Diversity: Percentage of women, percentage of nationalities, percentage of international faculty, and percentage women in business school faculty, are some parameters that are considered to be of the utmost importance while ranking some of the top MBA colleges in the world.
Top 20 B-Schools in the World
Let us now make you acquainted with the top 20 business schools in the world:
|
S.No. |
University/ B-School |
QS Global MBA Rankings 2022 |
Average Tuition Fee for International Students |
|
1. |
Stanford Graduate School of Business, Stanford |
1 |
119,964 USD/ year |
|
2. |
2 |
73,440 USD/ year |
|
|
3. |
2 |
83,230 USD/ year |
|
|
4. |
4 |
78,000 EUR/ year |
|
|
5. |
5 |
82,250 USD/ year |
|
|
6. |
London Business School, London |
6 |
97,500 EUR/ year |
|
7. |
IE Business School, Spain |
7 |
72,200 EUR/ year |
|
8. |
7 |
91,000 EUR/ year |
|
|
9. |
9 |
77,376 USD/ year |
|
|
10. |
IESE Business School |
10 |
93,500 EUR/ year |
|
11. |
UC Berkeley (Haas), Berkeley |
11 |
71,817 USD/ year |
|
12. |
Chicago Booth, Chicago |
12 |
74,919 USD/ year |
|
13. |
Esade Business School, Barcelona |
13 |
73,800 EUR/ year |
|
14. |
13 |
65,520 GBP/ year |
|
|
15. |
15 |
70,368 USD/ year |
|
|
16. |
16 |
76,368 USD/ year |
|
|
17. |
Cambridge (Judge), Cambridge |
17 |
61,000 EUR/ year |
|
18. |
Yale School of Management, New Haven |
18 |
100,000 USD/ year |
|
19. |
NYU (Stern), New York |
19 |
54,765 USD/ year |
|
20. |
Michigan (Ross), Ann Arbor |
20 |
72,114 USD/ year |
Cheapest countries to pursue MBA abroad!
As an international student, you should be aware that pursuing an MBA abroad will cost you somewhere around 50,000 USD t0 100,000 USD per annum, depending on the program and university you choose. Also, admissions at the best MBA colleges in world for Indian students can be a tad bit difficult and competitive, but you can definitely get selected provided you are aware of exams and eligibility to study MBA abroad, demonstrate the required skills, and have a good amount of prior work experience!
Frequently Asked Questions about Top MBA Colleges in the World
Ques. What are the top business schools in the world?
Ans. Some of the best MBA colleges in the world are:
- Stanford Graduate School of Business
- Harvard Business School
- The Wharton School
- HEC Paris
- MIT Sloan School of Management
Ques. What are some factors considered while ranking the top B-schools in the world?
Ans. Some factors which are considered while ranking the best B-schools across the globe are:
- Employability rate
- Return on investment
- Entrepreneurship and alumni outcomes
- Thought leadership
- Diversity
Ques. What are the highest paying specializations in MBA?
Ans. Some top paying specializations in MBA are:
- Financial services
- Consulting
- Healthcare
- Technology
- Consumer packaged goods
Ques. What is the average MBA tuition fees for various countries?
Ans. The average MBA tuition fees for various countries are:
- US-35,000 EUR/ year
- UK-20,000 EUR/ year
- Australia- 17,000 EUR/ year
- Canada- 25,000 EUR/ year
- Singapore- 35,000 EUR/ year
- Spain- 20,000 EUR/ year
Ques. Why should I study MBA abroad?
Ans. Some benefits of studying MBA abroad are:
- Set up an international business
- Make a global network
- Experience world-class academic facilities
- Get hold of a high ROI
- Experience the global market on a whole
- Get top paying jobs across the globe