Embarking on your MBA journey begins with selecting the right business school, a pivotal decision that can shape your future. While the cost of tuition at top MBA colleges may seem steep, the return on investment is undeniably substantial, often surpassing expectations. These prestigious institutions not only offer a high ROI but also provide a plethora of specializations, fostering a diverse and global community. Staying abreast of international business standards is paramount, and the top MBA colleges excel in this aspect.
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Factors Considered while Ranking Business Schools
What is it that makes some management schools stand out from others? Let us make you aware of the benefits of pursuing an MBA abroad:
- Employability: Employability is measured through the QS Global Employer Survey, wherein some of the best recruiters fill out a survey to choose their favorite B-schools, to choose students from. Some employers that took part in this survey are Facebook, Uber, Google, Bank of America, etc.
- Entrepreneurship and Alumni Outcomes: The 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, are reported by B-schools themselves and are considered of the utmost importance.
- Return on Investment: Extensive research on ROI is done to come up with schools offering the best return on investment. Salaries before pursuing an MBA are compared with 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 of 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.
List of Best MBA Colleges in the World: Rankings 2024
Let us now make you acquainted with the top 20 business schools in the world:
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QS Global MBA Rankings |
University/ B-School |
Average Tuition Fee for International Students |
|---|---|---|
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1 |
USD 119,960 (INR 99,63,020) |
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2 |
USD 83,230 (INR 69,12,490) |
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3 |
USD 73,440 (INR 60,99,400) |
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|
4 |
EUR 97,500 (INR 86,64,530) |
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|
5 |
EUR 78,000 (INR 69,31,620) |
|
|
6 |
USD 82,250 (INR 68,31,100) |
|
|
7 |
USD 77,370 (INR 64,25,800) |
|
|
8 |
EUR 72,200 (INR 64,16,190) |
|
|
9 |
EUR 72,200 (INR 64,16,190) |
|
|
9 |
EUR 93,500 (INR 83,09,060) |
|
|
11 |
EUR 91,000 (INR 80,86,890) |
|
|
12 |
USD 77,370 (INR 64,25,800) |
|
|
13 |
USD 71,820 (INR 59,64,850) |
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|
14 |
USD 77,370 (INR 64,25,800) |
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|
15 |
USD 71,820 (INR 59,64,850) |
|
|
16 |
USD 82,250 (INR 68,31,100) |
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|
17 |
USD 54,760 (INR 45,47,970) |
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|
18 |
EUR 63,000 (INR 55,99,100) |
|
|
19 |
EUR 73,800 (INR 65,58,380) |
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|
20 |
USD 71,820 (INR 59,64,850) |
Suggested: Cheapest countries to pursue MBA abroad!
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let's learn more about the top 10 MBA Colleges in the world
1. Stanford Graduate School of Business, Stanford
Stanford Graduate School of Business (GSB) stands as a renowned institution in the field of business and management education globally. Recognized as the top-ranked MBA program in the world by QS Global MBA Rankings 2024, Stanford GSB offers two additional degree programs: the Stanford MSX and PhD. Known for its rigorous standards, the business school maintains a highly selective admission process, with an acceptance rate of 6.96% in 2023, underscoring its competitive nature.
Stanford GSB Admissions
The criteria for admission to different programs at the institute vary depending on the chosen program. Prospective applicants can refer to the Stanford GSB MBA class profile to understand the necessary standardized test scores, which typically include a GPA of 3.78 (92-93%) and English proficiency scores.
Stanford GSB Application Fees: USD 275 (INR 22,830)
Stanford GSB Admission Requirements
- Academic Requirements: Four years bachelor's degree or its U.S. equivalent | Academic transcripts
- GPA: 3.77 (93%)
- Standardized Test Score: GMAT- 738 | GRE- 165 in both verbal and quantitative
- SOP/LOR: Statement of purpose | 2 letters of recommendation | Personal essay
- English Proficiency Test Score: TOEFL iBT- 100 | IELTS- 7.0 | PTE- 68 (Average TOEFL: 113)
- Additional Requirements: Resume or CV | List of extracurricular activities and awards
- Professional Experience: Work experience, and other personal information
2. Penn (Wharton), Philadelphia
Established in 1881, The Wharton School at the University of Pennsylvania stands as the pioneering collegiate business school in the United States. It has been instrumental in reshaping the study of business, elevating it from a mere trade to a highly esteemed profession. With a diverse range of programs spanning 20 disciplines, including undergraduate, graduate, and doctoral programs, Wharton offers students a plethora of options. Prospective students can select from a variety of concentrations, MBA majors, and doctoral programs, totaling over 47 options. Boasting a rich history, Wharton has issued more than 200,000 certificates through its online platform, Wharton Online. Currently, the school hosts a vibrant community of approximately 5,000 students representing diverse backgrounds from around the globe, with an impressive international student population exceeding 30% in its MBA program.
The Wharton School Admission
The Wharton School presently enrolls a total of 2,500 students in its undergraduate programs, with 22% of them being international students. Meanwhile, the MBA class of 2023 comprises 897 students, with 36% of them being international. Representing a diverse array of backgrounds, the school boasts students from 83 different countries worldwide.
To apply to The Wharton School for the 2023 academic year, candidates must follow the outlined requirements:
The Wharton School Application Process:
Access the admissions page on the official website of the University of The Wharton School, USA, and complete either the common application or coalition application form.
The Wharton School Application Fees: USD 275 (INR 22,830)
The Wharton School MBA Admission Requirements:
- Submit official academic transcripts
- Maintain an average GPA of 3.7/4 (92%)
- Achieve a GMAT score of 733 or higher
- Provide English proficiency scores (TOEFL iBT: 80, IELTS: 6.5)
- Submit letters of recommendation
- Provide a health certificate
- Include a statement of purpose
- Submit a resume (for candidates with job experience)
- Include three essays
- Provide details of work experience
- Attend an interview (additional requirement)
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3. Harvard Business School, Boston
Established in 1908, Harvard Business School (HBS) stands as the renowned b-school of Harvard University. Nestled within its campus are 11,588 students, representing a diverse array of backgrounds. HBS boasts an international student body hailing from 146 countries. Aspiring students have access to a two-year MBA program, 99 executive programs, and a range of doctoral programs offered at HBS.
Harvard Business School Admissions
Harvard Business School currently accommodates a student body of 11,588 individuals, comprising both domestic and international students. Representing a diverse spectrum, HBS students hail from 146 different countries worldwide. For prospective international students interested in seeking admission to Harvard Business School, the following details are provided for reference.
Harvard Business School Application Fees: USD 250 (INR 20,760)
Harvard Business School MBA Admission Requirements
- Academic Requirement: Bachelor’s degree (approved and accredited institution)
- GPA: 3.6 out of 4.0 (91%)
- English Proficiency Requirements: TOEFL iBT: 109 | IELTS: 7.5
- Standardized Test Score: GMAT Range: 540-790 | GRE Range: 147-170 [Verbal] | 150-170 [Quantitative]
- Essay/LOR: 2 Essays (400 words) | 2 LORs
- Work Experience: Work experience of 5 years
- Additional Requirements: Updated CV/Resume | Interviews
Harvard Business School Acceptance Rate
The MBA program at HBS maintains a competitive acceptance rate of 13%, reflecting the rigorous selection process. Conversely, the PhD program at the school boasts an exceptionally low acceptance rate of 3%, highlighting its highly selective nature.
4. London Business School, London
Founded in 1964, London Business School stands as one of London's premier business schools, renowned for its top-tier master's, executive, and PhD programs across various management disciplines. In addition to the MBA program, London Business School offers Executive MBA, Masters in Finance, PhD, and various short executive courses. Nestled in Sussex Palace in Marylebone, the school's campus hosts a vibrant and diverse student community. With over 100 nationalities represented, an impressive 94% of Graduate Master's students at London Business School originate from international backgrounds.
London Business School Admission
London Business School facilitates the submission of online applications through its official portal. While the application process remains consistent across all Master's programs, prospective applicants should be mindful of the varying application deadlines for each program and verify them before submission.
London Business School Application Fees: GBP 100-150 (INR 10,420-15,630)
London Business School Admission Requirements
- Admission Requirements: Bachelor's degree
- GPA: 3.3 GPA on a 4.0 scale (87%)
- English Proficiency Requirements: TOEFL iBT: 100 | IELTS: 7.5
- Standardized Test Score: GMAT: 600+
- LOR/ Essay: LORs | Essays in 300-400 words
- SOP: Detailed SOP
- Additional Requirements: Resume or CV | Interview
5. HEC Paris, Jouy En Josas
HEC Paris, a distinguished business school in France, provides education to approximately 13,000 students. Renowned for its focus on research within management programs, it maintains a consistent position among the world's leading business schools.
HEC Paris Admission Process
Prospective students can submit their applications online through the official website portal of the institute.
HEC Paris Application Fees: EUR 250 (INR 22,210)
HEC Paris Admission Requirements
- Completed Application Form.
- Completed Essays.
- 2 LOR.
- Current Professional Resume in English.
- Passport-style Photograph.
- Transcripts from all post-secondary institutions.
- Copy of Passport copies of both if you have dual nationality or birth certificate.
- GMAT or GRE scores.
- Language proficiency scores.
6. MIT (Sloan School of Management), Cambridge
Established in 1914, the Sloan School of Management serves as the business school of the Massachusetts Institute of Technology (MIT). Situated along the Charles River in Cambridge, Massachusetts, USA, the MIT Sloan campus attracts a total enrollment of 1,300 students. Presently, 43% of the student body consists of international students.
Application Fees: USD 75-250 (INR 6230-20,760)
Sloan Admission Requirements:
- GMAT/ GRE scores
- A resume
- Take an essay question.
- Submit video questions.
- Previous transcripts and study records.
- 3 letters of recommendation.
- English Language Proficiency Score
- TOEFL iBT - 90
- IELTS - 7.0 Band
- PTE - 65
7. Columbia Business School, New York
Columbia Business School, affiliated with Columbia University, stands as a prominent institution in the field of business education worldwide. Recognized among the top 10 business schools globally by U.S. News and World Report, it offers a diverse range of master's programs, with the MBA being particularly renowned and sought-after among students.
Columbia Business School Admissions
Annually, Columbia Business School welcomes applicants from various cultural, personal, and professional backgrounds. During the candidate selection process, the institution prioritizes attributes such as academic prowess, robust leadership skills, and adeptness in collaborative settings.
Columbia Business School Application Fees: USD 100 (INR 8300)
Columbia Business School Admission Requirements
- Admission Requirements: Bachelor's degree certificate and academic transcripts
- GPA: 3.7 on a 4.0 scale (90-92%)
- English Proficiency Requirements: TOEFL IBT - 109 | IELTS - 7.0
- Test Scores: GMAT: 744 | GRE: 169 (Quant) | 163 (Verbal)
- Additional Requirements: Letter of recommendation | Statement of Purpose or Personal Statement | Resume or CV | Passport | Interviews
8. IE Business School, Spain
IE Business School, situated in Madrid, Spain, is a private institution offering both undergraduate and graduate programs in business studies. Renowned for its high standards, IE holds triple accreditation from esteemed agencies including the EFMD Quality Improvement System, the Association to Advance Collegiate Schools of Business, and the Association of MBAs. Spread across 17 buildings in Madrid's financial hub, Barrio de Salamanca, the campus provides a conducive environment for learning. Embracing a technology-driven approach to education, IE Business School nurtures future leaders equipped with innovative thinking, a global perspective, an entrepreneurial spirit, and a strong emphasis on humanities. With a faculty comprising over 500 professors and a vast network of 60,000 alumni worldwide, the institution remains dedicated to excellence in teaching methodologies and the seamless integration of technology in education.
IE Business School Admissions
To be eligible for admission to master's programs, applicants are required to possess a bachelor's degree from an accredited institution, in addition to achieving a competitive GMAT score.
IE Business School Application Fees: EUR 150 (INR 13,330)
IE Business School Admission Requirements
- English language proficiency test score
- GMAT/GRE score report
- Letters of Recommendation (LORs)
- Essay or Personal Statement
- Resume
- Portfolios, other supplementary documents, etc.
- A copy of the passport
- Financial documents
9. Cambridge (Judge), Cambridge
Formerly known as the Judge Institute of Management Studies, Cambridge Judge Business School enjoys global recognition as a premier institution. Drawing students from more than 100 countries, it is renowned for its excellence in business education. Ranked #1 in One-year Programs in the UK for 2021 by the Financial Times and affiliated with the esteemed Cambridge University, CJBS offers outstanding programs across various disciplines. The school excels in business, financial, and entrepreneurial education, providing a wide array of undergraduate, graduate, post-graduate, doctoral, and professional degrees.
Cambridge Application Fees: Variable
Cambridge Admission Requirements
- Applicants must have a 2:1 honors undergraduate degree (~60-70%)
- At least 3 years of work experience in the relevant field.
- GMAT/ GRE score (Average GMAT score: 640-730)
- References
- Ability to finance the program
- UK student visa
- Essay questions that are a part of the application form
- English language proficiency test scores are as follows:
- TOEFL: 110 or higher
- IELTS: 7.5 or higher
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10. IESE Business School
IESE School of Management stands as one of France's esteemed Business Schools, extending 5-year Grande Ecole programs to international students. The institution admits international applicants for both fall and spring semesters. Recognized as #6 in France and #32 overall in the Master of Management rankings by the Financial Times, IESEG holds a distinguished position among Europe's top business schools.
IESE Business School Application Fees: USD 166 (INR 13,780)
IESE Business SchoolAdmission Requirements
- Online application.
- Transcripts
- LOR (academic as well as extracurricular activities)
- Copy of passport
- Motivation video on Visio Talent website
- For the Grand Ecole, students must also submit undergraduate degree transcripts, recent CVs,
- For students who wish to pursue an MSc in any of the programs offered by the IESEG, GRE/ GMAT scores are not mandatory.
From the Desk of Yocket
Selecting the right business school is a crucial step in shaping one's career in the field of business and management. The top MBA colleges worldwide offer a diverse range of benefits, including high ROI, specialized programs, and a global community. With rigorous admission processes and competitive acceptance rates, these institutions prioritize academic excellence and leadership qualities. By considering factors such as employability, alumni outcomes, return on investment, thought leadership, and diversity, prospective students can make informed decisions about their MBA journey. Explore the options, assess your goals, and embark on a path that aligns with your aspirations and ambitions.
Gain exclusive insights into the world's top MBA colleges and make informed decisions for your future with Yocket Premium. Elevate your application strategy and unlock access to comprehensive resources tailored to your study-abroad needs. Join our vibrant community today and embark on your journey towards academic excellence!
