INSEAD's graduation ceremony held at Château de Fontainebleau in France, adjacent to one of INSEAD's three campuses.
If your shortlist of business schools doesn't include one of Europe's top MBA programs, you should. There are several distinct advantages to earning an international MBA: Top programs offer excellent ROI and unparalleled global leadership experience that will make your resume stand out. More and more MBA aspirants are eyeing the opportunity to earn an MBA in Europe and targeting these schools in search of an unforgettable international experience.
With highly diverse classes from all over the world, European schools have a strong appeal to a growing number of candidates looking to enhance both their personal and professional growth – and they may also offer a more affordable learning experience.
As an INSEAD alumnus and former Director of Admissions, I am keen to encourage candidates to explore the unique benefits of international programs. Below are reasons why I and my colleagues at Fortuna Admissions believe now is the ideal time to consider an MBA in Europe.
3 Reasons to Consider an MBA in Europe
1. A stepping stone to global leadership and an international career.
The international reach of INSEAD, London Business School (LBS), IESE, HEC Paris and other top European schools is more important than ever. Business increasingly crosses borders, but at the same time, international divisions, societal fragmentation and trade disputes make it more complex. Top business schools INSEAD (with campuses in Fontainebleau, Singapore and Abu Dhabi, as well as a presence in San Francisco), IE, IESE, LBS and Bocconi School of Management are consistently ranked among the top programs by the Financial Times.
These schools offer an unparalleled international experience thanks to their truly diverse student communities: INSEAD has students from at least 70 different nationalities in each of its MBA classes, while its most recent LBS class includes students from 63 countries. IMD and IESE have deeply engaged and extensive alumni networks and connections to top recruiters around the world, and they place a premium on training business leaders who excel at working cross-culturally.
As two of the world's most prestigious programs, INSEAD and LBS have some differences, including course length. INSEAD pioneered the one-year MBA, offering a highly efficient and cost-effective format for those who can handle the pace and focus. The MBA at LBS can be completed in 15-21 months, depending on your preference.
Additionally, HEC Paris has a 16-month program that allows you to take part in a variety of in-depth learning projects and internships without having to leave your workplace for an extended period of time.
2. Return on investment for the program over one year.
Speaking of course length, many European business schools are favouring shorter one-year course lengths over traditional two-year programmes, as they promise significant cost savings. The latest FT rankings show that one-year MBAs offer salary increases and earning power comparable to the best two-year programmes. With fewer costs to cut (and only one year's salary to give up), schools such as Cambridge Judge, which boasts a 96% salary increase rate, are attracting more candidates.
A few years ago, Forbes magazine affirmed this accelerated payback: While the payback period for the 12 European schools listed in its ranking of one-year MBA programs ranged from 2.4 to 3.8 years, graduates of Harvard Business School, Wharton School, and Stanford GSB took just over four years to pay back their investment, on average. Chicago Booth topped the U.S. ranking with a five-year return of $94,400, but six European business schools achieved higher payback rates over the same period.
If you want a one-year option, consider INSEAD, HEC Paris, IMD, Cambridge Judge, Oxford Saïd, or January entry (see below).
3. Timing: Later application deadline, fourth round, admission in January.
Most US schools have second-round deadlines for fall admission to the top US school clusters around the beginning of the calendar year, and most European schools continue to accept applications after February (see Fortuna's handy roundup of application deadlines for each round).
If you are looking for a two-year MBA program in Europe, LBS and IESE are your first choices. These schools have the earliest admission deadlines, with the third round closing in mid to late March. IESE's fourth round deadline is also in early May. INSEAD's fourth round deadline is in early March, but if you apply in a later round, it is also wise to be an early applicant for January entry.
For schools with January entry, deadlines are usually later in the spring or later. HEC Paris has January entry deadlines in May, June, August through November, but encourages non-EU nationals to apply earlier due to visa and housing requirements.
Other top schools with January admissions include IE Business School, IMD, RSM, ESMT Berlin, and HEC Paris. IE Business School in Madrid, Spain, is accepting applications on an ongoing basis (meaning you could potentially be admitted this fall).
If you're considering earning an MBA in Europe, know that with its unique benefits come unique considerations. You'll also need to take into account language requirements and timing-related factors, from visa considerations to financing your program to planning for intercontinental travel. Language classes for programs such as IE begin a month or more before the program begins.
Ultimately, the key to a successful application to any international program is due diligence and thoughtful research. Most will be looking for evidence of your international experience and intercultural competence. Although the application period to top U.S. schools for fall admission has closed, if you're thinking about applying to business school, now is the perfect time to submit a great application.
If you want to know more about what the top European programs are looking for and how to position your application, check out my article “Insider Tips on Europe's Top MBA Programs: London Business School, INSEAD, IE.”
Caroline Diarte Edwards is Director of Fortuna Admissions and former MBA Admissions and Scholarships Director at INSEAD. For more free advice from Fortuna Admissions in partnership with Poets&Quants, check out these videos and articles: For an honest assessment of your chances of success in gaining admission to a top MBA program, sign up for a free consultation.
