Poets&Quants Top 50 MBA Programs Outside the U.S.

London Business School came in first among 50 of the best B-schools outside the U.S. in the new 2010 ranking by Poets&Quants. France’s INSEAD was second, followed by IMD in Switzerland, and then IESE and IE Business Schools in Spain.

This new P&Q list is a composite of four major MBA rankings published by Bloomberg BusinessWeek, The Economist, The Financial Times, and Forbes. The ranking takes into account a massive wealth of quantitative and qualitative data captured in the five major lists, from surveys of corporate recruiters, MBA graduates, deans and faculty publication records to median GPA and GMAT scores of entering students as well as the latest salary and employment statistics of the latest graduating class.

By blending these rankings using a system that takes into account each of their strengths as well as their flaws, we’ve come up with what is arguably the most authoritative ranking of MBA programs ever published. The list, which includes the recently released 2010 rankings by BusinessWeek and The Economist, tends to eliminate anomalies and other statistical distortions that often occur in one ranking or another. In any case, the ranking measures the overall quality and reputation of the flagship full-time MBA programs at the schools, rather than the schools themselves.

After the U.S., Europe remains the best place to get a business education. Of the top 20 non-U.S. B-schools, seven are based in Britain, including the relatively new MBA programs at No. 9 Cambridge and No. 11 Oxford universities, along with three each in Spain and in France. Only one Asian school, China Europe International Business School (CEIBS) in Shanghai, cracked the top 20 list at 17th.

The ranking underscores the fact that Europe’s business schools have been gaining significant ground in recent years. For the year ending June 30, 2010, for example, European schools received more than 85,000 GMAT scores, an increase of 90 percent, or about 40,000 score reports from five years prior. The total number of GMAT scores sent worldwide increased by only 30 percent over the same five-year period.

Britain, France, the Netherlands, and Spain remain the top European destinations, receiving about 80 percent of the GMAT scores sent. But schools in five other countries—Germany, Switzerland, Sweden, Italy, and Greece—each received more than 1,000 score reports from prospective students. A majority (64 percent) of the GMAT scores sent to European business schools came from non-European examinees, especially from Indian and Chinese citizens. In fact, Indian citizens outnumbered local talent in some countries and were the leading source of talent in 2010 for schools in Britain, France, Spain, and Switzerland. Just 37 percent of scores from European test takers were sent to business schools in the U.S., the first year the proportion fell below 40 percent. A decade ago, more than 60 percent of scores from European test takers went to U.S. schools.

P&Q Rank & SchoolIndexBWForbes*FTEcon
1. London Business School London, U.K.100.051119
2. INSEAD Fontainebeau, France98.911523
3. IMD Lausanne, Switzerland98.772156
4. IESE Business School Barcelona & Madrid, Spain98.1123115
5. IE Business School Madrid, Spain97.933622
6. HEC Paris Paris, France93.6147189
7. ESADE Business School Barcelona, Spain93.4481920
8. Cranfield University Cranfield, U.K.89.91392615
9. Cambridge (Judge) Cambridge, U.K.89.71042130
10.York University (Schulich) Ontario, Canada85.4965410
11. Oxford University (Said) Oxford, U.K.77.71651671
12. University of Manchester Manchester, U.K.75.11724061
13. SDA Bocconi Milan, Italy72.31883865
14. City University (Cass) London, U.K.53.6NR64153
15. McGill University (Desauteis) West Montreal, Canada49.1111195NR
16. Lancaster University Lancaster, U.K.48.3NR72489
17. CEIBS Shanghai, China46.9NR422100
18. HEC Montreal Montreal, Canada46.41510NRNR
19. EM Lyon Lyon, France41.6NR119738
20. Australian School of Business Sydney, Australia41.1NR936NR
21. Toronto (Rotman) Toronto, Canada39.38NR45NR
22. Western Ontario (Ivey) Ontario, Canada38.66NR49NR
23. Hong Kong UST Kowloon, Hong Kong37.1NRNR952
24. British Columbia (Sauder) Vancouver, Canada34.7NR108279
25. Warwick Business School Coventry, U.K.33.4NRNR4234
26. Erasmus (Rotterdam) Rotterdam, The Netherlands31.8NRNR2557
27. Nanyang Business School Singapore28.1NRNR2769
28. Chinese University of H.K. Hong Kong27.6NRNR2870
28. IPADE Business School Mexico City, Mexico27.6NR593NR
30. Queen’s School of Business Kingston, Ontario, Canada26.32NRNRNR
31. University of Strathclyde Glasgow, UK26.0NRNR5175
32. University of Melbourne Melbourne, Australia25.2NRNR6341
33. Indian School of Business Hyderabad, India23.6NRNR12NR
34. Bath School of Management Bath, U.K.22.7NRNR8729
35. Henley Business School Reading, U.K.22.0NRNRNR17
36. Hult International Business London, Shanghai, Dubai21.8NRNR9427
37. Manheim Business School Manheim, Germany19.9NRNRNR26
38. UCD Dublin Business School (Smurfit) Dublin, Ireland19.6NRNR9831
39. Durham Business School Durham, U.K.19.4NRNR7455
40. Imperial College West London, U.K.18.3NRNR32NR
41. Vierick Leuven Gent Leuven & Ghent, Belgium17.9NRNR8747
42. Birmingham Business School Birmingham, U.K.15.5NRNR7568
43. Aston Business School Birmingham, U.K.14.6NRNR7374
44. University of Hong Kong Hong Kong14.0NRNRNR48
45. EDHEC Business School Lille, Nice, Paris, France13.8NRNRNR49
46. University of Monaco Monaco13.3NRNRNR51
47. Monash University Melbourne, Australia11.4NRNRNR58
48. Grenoble Graduate School Grenoble, France10.3NRNRNR62
49. Macquarie Graduate School Sydney, Australia10.2NRNR9964
50. University of Edinburgh Business School Edinburgh, U.K.9.8NRNR8975

Methodology: Schools on each of four major rankings–BusinessWeek, Forbes, The Financial Times, and The Economist– were scored from a high of 100 to a low of 1, the numerical rank of the 100th school on any one list. Then, those sums were brought together.