A recent article in the New York Times put light on the advantages of getting a Masters in Business Administration from Europe – a topic worth talking about in our blog.
Although the concept of MBA is considered to be typically American, statistics show that Europe is slowly but steadily becoming the destination of choice for many non-European students. The reasons are manifold.
One of the first things a student considers when applying to a Business School, apart from its reputation (we’ll come to the reputation part later), is the cost involved. In this section, Europe scores big. Most of the prestigious schools in Europe offer cheaper options than their counterparts across the Atlantic. Take for instance IE Business School in Madrid, Spain. Tuitions for the International MBA here is € 59,900 ($ 78,000), a considerable sum no doubt but much lesser than that practiced in most US Business Schools. One of the reasons for the lower fees is the short duration of the European MBAs – one year compared to two in the United States. The shorter duration reduces living costs as well. And with Europe revamping its international student recruitment strategies, things can only get better.
As for the reputation of the European B-Schools, we don’t need to go far to look for references. The big names like INSEAD (France), Rotterdam School of Management (the Netherlands) or IE Business School (Spain) appear proudly in the top 50 of the Financial Times’ 2013 Global MBA Ranking list.
Another reason for choosing Europe to do your MBA is the obvious international perspective of the programs. More than 80% of the student composition in most European Business Schools is made up of international students who come from widely different cultures and backgrounds. Most schools offer intensive local language classes to offer you the opportunity to become bi-lingual at the end of your tenure.
So, if you are thinking of delving into the MBA world this year, Europe can be a wise choice… to get the coveted degree while soaking in the famous European ambiance.