Attending an MBA Program in Europe
Last year, US News reported that European MBA program may cost less to attend elite US b-schools. For students who seek a shorter path to the MBA or simply want to experience life outside the US, a European MBA seems like a great option.
Benefits of European MBA
What can Americans gain from a European MBA? Well, for one, cost is a big factor. According to US News, an MBA in Europe can range from $73,000 to $95,000 for one-year programs to just over $100,000 for two-year programs (not including room and board). In the US, a top 20 MBA program ranges from $120,000-$160,000.
In contrast, tuition and fees for a number of top-20 U.S. MBA programs in 2017 ranged from roughly $120,000 to $160,000.
At Harvard Business School, where the average starting salary for 2016 grads was more than $150,000, the return on investment takes a bit of time. Harvard tuition for the 2016-2017 school year was $63,675. And that’s only for one year. According to US News, average debt for a 2016 grad from HBS was $86,375.
Aside from cost, experts say that a European MBA may offer additional benefits, such as international experience – something recruiters seek.
“The top U.S. companies are international themselves and need people who have the ability to work across borders,” Caroline Diarte Edwards, an MBA admissions consultant, tells US News.
Karen Marks, president and founder of North Star Admissions Consulting, says European MBAs offer a diverse student body, which may benefit the international experience.
“While both domestic and European programs draw students from all over the world, the top European programs have an eclectic, diversified student body (At Tuck, for instance, around 33% of the class is international, while at London Business School the average is 89%),” she writes in a P&Q article. “Students in European programs benefit from learning and building relationships in a global community. Schools like London Business School, INSEAD, HEC and IESE also have global brand recognition, which can help graduates find employment both domestically and abroad after graduation.”
So, which European b-schools are a good fit for American students?
Arlene Weintraub, a contributor at US News, recently shared a few European MBA programs that offer unique experiences for Americans.
The University of Oxford Saïd Business School offers a 1 + 1 MBA, a two-year program that also gives students a master’s degree from one of 14 other departments, including medicine, history and music, according to US News.
Ian Rogan is the MBA program director at Saïd. Rogan tells US News that entrepreneurship is one of three broad themes that make up the Saïd MBA curriculum.
“We teach students to think broadly about entrepreneurship and how they can apply what they learn broadly across all organizations,” Rogan says.
At INSEAD, 8% of the 1,000 students who enter the program one during its two intakes come from the US, according to US News, come from the US.
INSEAD’s international campuses also allow students to work directly with big name American companies trying to establish themselves abroad.
Google, according to US News, requested INSEAD students in Abu Dhabi to create an open online platform for news organizations in Africa.
In addition, INSEAD students have the opportunity to customize their experience and even intern at places like the World Bank in Washington DC.
LBS is the number one school to admit more American students than any other country in Europe. According to US News, in 2017, Americans made up 16% of the total student body of 431 at LBS.
Every student at LBS partakes in the “Global Business Experience” – an immersive one-week exchange program in countries including South Africa, Israel, China, Peru and Myanmar.
LBS also has over 75 campus clubs that specialize in niche markets including finance, retail and luxury goods, and technology and media.
For students who seek global experiences, cheaper tuition, and shorter time invested in an MBA, a European b-school may be the perfect choice.
“I definitely encourage my clients to consider applying to European MBA programs,” Marks says. “Depending upon your profile, goals and priorities a European program may be the perfect fit.”