13 Jul 2022 | Top Universities to Pursue a Course in MBA
Best Universities Around the World For an MBA Course
The best MBA programs in the world are characterized by immaculate academic styles which are designed by some of the best faculties in the world. When it comes to pursuing an MBA, selecting the right university can be a game-changer. Here, we present a curated list of some of the most renowned institutions that offer exceptional MBA programs.
One of the most sought-after courses in the world is Masters in Business Administration. An MBA degree from a prestigious university is your ticket to a successful career in a variety of industries. If you are aspiring to do an MBA, then there is no place for the second-best business school. Selecting the right business school is crucial in shaping your career and future. Though the tuition fee and cost of living in some of the top universities in the world can be quite hefty, the ROI (return on investment) is much higher.
An MBA from a premier institute gives you a world of opportunities in terms of specializations to choose from, global exposure, and job opportunities; and keeps you up-to-date with all the latest international business standards. We all know that the US, UK, Canada, Australia, and Germany are some of the best countries in the world to pursue MBA, but all these countries are full of MBA programs from various universities. So how do you select the one which gives you maximum benefit?
We will ease the process of selecting the best MBA college in this article. You can select a university, based on your area of interest, your budget, and your career goals. But before we dive into the best universities, let us look at how the B-Schools are ranked.
How the Business Schools are Ranked
In the education industry, the most critical business school rankings are as follows:
- QS Global MBA Rankings from TopUniversities
- Global MBA Rankings from the Financial Times
- World University Rankings by subject: Business and Management from Times Higher Education
- Full-time MBA Ranking from The Economist
- Best Global Universities for Economics and Business by US News & World Report
- Best B-Schools Ranking from Bloomberg Businessweek
- Global Ranking of Academic Subjects - Business Administration from Shanghai University
Some of the indicators for ranking these universities are employability rates, class profile, the average salary of graduates, etc. The top MBA college is ranked as per the factors illustrated below:
Employability: QS Global Employer Survey measures this factor where the best recruiters in the industry fill a survey of their favorite B-Schools for hiring students. Some of the top employers who take part in this survey are FB, Google, Uber, Bank of America, etc.
Alumni outcomes: The best business schools are identified through an alumni outcome index by looking at the number of CEOs (more than 50,000) from the school in the biggest companies in the world, such as Apple, JPMorgan Chase, PepsiCo, etc.
ROI: This is determined through extensive research of salaries before MBA and after MBA of students.
Thought leadership: Here, the reputation of the business schools is considered around the world. Factors such as research impacts, business school nominations, and faculties with a Ph.D. degree are taken into account when ranking on this factor.
Diversity in class and faculty: Percentage of nationalities, percentage of women as students, percentage of women in faculty, percentage of international faculty, etc., are some of the parameters to consider while selecting the best MBA schools across the globe.
Stanford Graduate School of Business, Stanford (the USA)
Stanford GSB empowers its students with the vision, knowledge, and skills needed for growth and innovation. Some of the highly ranked specializations of this school are Entrepreneurship, Marketing, Nonprofit, Management, Production / Operations, Accounting, and Supply Chain / Logistics. The gender distribution of females to males is 45.8%: 54.2%. The cost of a full-time MBA is 74,706 USD per annum. The average GMAT score of applicants who are accepted in Stanford GSB is 733, and in 2020 the acceptance rate was 8.9%. The school is currently enrolling 840 students and has three application rounds. A fresh graduate from Stanford GSB earns 156,000 USD on average.
Harvard Business School (the USA): Harvard University teaching is based on case methods where students get an opportunity of experiential learning and apply classroom theory in real-life scenarios. The school is ranked highly in departments such as international, management, Nonprofit, Entrepreneurship, marketing, finance, and production/operations. There is a high representation of women students at 45.1% (male 54.9%.) A full-time MBA here costs 73,440 USD per year. Students accepted at Harvard have a GMAT score of 727 on average. In 2020 HBS had an acceptance rate of 11.5%, and it enrolled 1,593 students in full-time MBA. The average base salary of graduates of HBS is 150,000 USD.
University of Pennsylvania (Wharton): The university was established in 1881 as the world's first collegiate school of business. It is recognized across the globe for ongoing innovations across all crucial disciples of business education and intellectual leadership. The faculty of the University of Pennsylvania is one of the most published in the world and creates social and economic value worldwide. Some of the highly-rated majors of this university are finance, marketing, real estate, accounting, executive MBA, business analytics, entrepreneurship, international, management, and information systems. Women are represented almost equally at 46.6% (male 53.4%) here and it enrolls 1,874 students every year. The full-time MBA costs 76,000 USD per year. On average, the GMAT score of students who get admission here is 722. The average base salary of a graduate from this university is 150,000 USD.
HEC, Paris: HEC ranked perfect on the return on investment factor while determining the best B schools in the world. It has a 15-month program that teaches leadership skills by holding leadership seminars, multisport tournaments, and the HEC Global Leaders Series. It offers MBA in three different types of courses, full-time MBA, executive MBA, and Trium Global Executive MBA. The full-time MBA has around 93%, international students. The college has 34% female students and 66% male students. Some of the top specializations offered here are strategic marketing, digital innovation, entrepreneurship, finance, and sustainable and disruptive innovation. The tuition fee is 80,000 EUR. You need an average GMAT score of 690 to get admission to HEC. On average, a fresh graduate from HEC, Paris, earns 119,000 USD.
London Business School: The school offers prestigious MBA, MSc, and EMBA programs that cover topics like economics, finance, accounting, marketing, management science and operation, entrepreneurship, organizational behavior, and strategy. The average GMAT score needed to get admission at the London School of Business is 708. Among Early Career Students at LBS, 94% are international students. The male to female ratio is 72%: 28% while the percentage of female to male staff is at 70% female to 30% male. An MBA from LBS earns between 128,000 to 155,000 USD per annum.
In order to get admission into any of these top institutes, you must work hard to secure a GMAT of 700 or above. An MBA graduate from any of these premier universities can earn more than 1,30,000 USD per annum. Apart from hefty salaries, the graduates also enjoy immense personal development with global exposure and the diverse culture present in the schools.
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