MBA in Europe
The European continent is the home of some of the world’s best universities. One of the degree programs that is offered at a high-quality level in Europe is the MBA. EU MBA programs attract students and professionals with their academic quality, rigorous training, and many opportunities to establish a diverse network and build international relationships. Career opportunities are only some of the advantages of pursuing an MBA in Europe.
Is an MBA Worth It in Europe?
Yes, doing an MBA in Europe is definitely worth it. You will find internationally accredited universities, a high employment rate after graduation, and excellent training. If you are looking for specific reasons that make Europe an excellent choice for MBA studies, consider the following:
- World-Renowned Business Schools. Global rankings have EU business schools listed at the top, offering international qualifications and preparing students as best as possible for the job market after graduation. There are European business schools that top prominent U.S. schools for the quality of their MBA programs.
- Career Opportunities. You will find some of the world’s most renowned business schools in Europe and receive outstanding academic and professional preparation in your field. That is why, if you choose your business school wisely, your degree can lead to numerous career opportunities as well as a lucrative career.
- Affordable Cost of Tuition. You can study for an MBA at a surprisingly low cost of tuition in Europe. The affordability of MBA programs in Europe has led many international students worldwide to choose an EU business school for MBA studies. Some of the best business schools in Europe offer not only an affordable cost of tuition but various scholarship opportunities for those who cannot cover their study expenses.
- Diverse Student Body. Many international students choose Europe as the best destination for MBA studies because of its diverse student body. In Europe, you can meet and study with students from all over the world. As acceptance in business schools in Europe is rigorous, you will also have the opportunity to study with the brightest peers.
Top Business Schools for MBA in Europe
The most renowned universities or business schools for MBA programs in Europe are the following:
Which Country Is Best for MBA in Europe?
Regarding the best MBA program and employment opportunities, HEC Paris currently ranks first in global rankings. However, other universities, such as ESADE, IE Business School, and London Business School, and not only, have a good employment rate for their graduates.
International students aiming for a qualitative and affordable MBA can consider Germany a good study destination. Germany, in addition to affordable tuition costs, offers an affordable cost of living for international students. You can expect to spend around €867 per month on living costs in Germany.
Europe is distinguished by many excellent universities. However, individuals have different perceptions of what makes a country the best for MBA studies. While some mainly focus on the quality of an MBA program and career opportunities after graduation, others might focus on the affordability of the programs and the cost of living in that specific country.
Which Country in Europe Is Best for 1 Year MBA?
European business schools offer plenty of options if your aim is a one-year MBA. Therefore, you can choose between excellent MBA programs in European universities.
Some of the best universities for one-year MBA programs are:
- HEC Paris
- Mannheim Business School
- SDA Bocconi
- Copenhagen Business School
- ESMT Berlin
- University of St.Gallen
How Much Do MBAs Cost in Europe?
Europe has numerous universities that offer MBA programs; thus, the cost of an MBA varies greatly between countries and universities. Some of the best universities in Europe for MBA studies charge the following fees for their MBA programs:
Tuition Fees for an MBA
|HEC Paris||France||Executive MBA||€92,000 to €97,000|
|IE Business School||Spain||International MBA||
€78,300 (January 2023 intake)
€82,300 (September 2023 intake)
|London Business School||UK||Full-time MBA||
|SDA Bocconi||Italy||Full-time MBA||€65,000|
|Rotterdam School of Management||Netherlands||Executive MBA||€57,500|
|Mannheim Business School||Germany||Executive MBA||€53,000|
|Copenhagen Business School||Denmark||Executive MBA||DKK 105,000 (~€14,117)|
|IMD Business School||Switzerland||Full-time MBA||CHF 97,500 (~€99,266)|
|University of Cambridge||UK||Global Executive MBA||
|Munich Business School||Germany||Full-time MBA||€32,000|
|Dublin Business School||Ireland||Full-time MBA||€12,750|
|Technical University of Munich||Germany||Executive MBA in Innovation and Business Creation||€39,000|
Which European Country Is Cheapest for MBA?
Many European countries provide MBA programs at quite an affordable cost. The Netherlands is one of the cheapest countries to do an MBA in Europe. If you pursue an MBA in the country, you will have access to affordable and qualitative MBA programs. Germany is also not an exception to the countries with the cheapest MBA fees in Europe. Germany has top-notch MBA programs that are surprising with their costs. Other countries offering affordable MBA programs are Spain, Sweden, France, and Greece.
● In Greece, an MBA costs around €9,700 per year.
● In Spain, the cost of an MBA starts at €1,800 per year.
● In the Netherlands, the cost of an MBA ranges from €12,000 to €54,000 per year.
● In France, the cost of an MBA ranges from €14,930 to €89,000 per year.
● In Sweden, an MBA costs around SEK 330,000 per year or €30,077.
Scholarships for MBA in Europe: Can I Do an MBA for Free in Europe?
Tuition fees for MBA programs in Europe differ from one country to another, as well as from one university to another. Although many European universities offer affordable MBA programs, many others have a more expensive cost. As a result, international students tend to look for resources to help them cover the cost of tuition. Scholarships and grants are some of the most famous options for international students looking for financial aid.
Usually, in Europe, like in other parts of the world, the government and universities offer scholarship opportunities to students with outstanding academic records. You can also participate in numerous exchange programs in Europe and benefit from the international experience.
Additionally, some of the best scholarship programs for MBA students in Europe are:
- Erasmus Mundus Scholarship
- GoEuro European Study Abroad Scholarship
- Amsterdam Merit Scholarships for Excellent International Students
- Holland Scholarship
- Austrian Government Scholarships
- CIUF-CUD Scholarships in Belgium for Developing Countries
- Greek Government Scholarships for Foreign Students
- The Stipendium Hungaricum
- GSE Scholarships in Economics for Developing Country Students
- Swiss Government Excellence Scholarships for Foreign Scholars and Artists
- ETH Zurich Excellence Masters Scholarship Program
Is an MBA Better in the USA or Europe?
The USA and Europe are home to outstanding universities that offer high-quality MBA programs. As a result, students often face difficulties choosing the right location for their MBA studies. It is known that the U.S. was the first country to start offering MBA programs, which are now widely spread across European countries.
If you are wondering why pursue a Europe MBA over a US MBA, consider the following factors:
|Duration||1–1.5 years||2 years|
|Tuition||Avg. €35,000 ($35,997) / year||Avg. $50,000 / year|
|Cost of Living||Lower (€600 to €1,700 / month)||Higher ($1,000 to $3,000 / month)|
|Age Restriction||No age limit||May administer age limit|
Is It Cheaper to Get an MBA in Europe?
Europe is known for the affordability of its MBA programs, with many countries offering higher education programs free of charge to both their students and international ones. Compared to the two-year MBA programs in the U.S., MBA programs in Europe usually take one year to complete, thus, leading to shorter programs with lower costs and opportunities for faster career advancement. The 1-year duration of an MBA program in Europe also leads to a more immediate return on investment than in the U.S.
Although U.S. MBA programs tend to be more expensive than those in Europe, there are some exceptions. Business schools in Europe, such as INSEAD, London Business School, IESE, and HEC Paris, charge higher tuition fees than some quite prominent business schools in the U.S. Nonetheless, you can find plenty of cheap but qualitative MBA programs in Europe, some of which include the following:
|Central European University||MBA in Global Executive Management||€28,200|
|Universidad Carlos III de Madrid||MBA||
€13,500 (for EU nationals)
|Cyprus Institute of Marketing||MBA||€4,000 per year|
|Poznan University of Economics and Business||Executive MBA||PLN 57,000 (€12,128)|
|Turiba University||MBA||€3,000 per year|
Which Exam Is Required for MBA in Europe?
An MBA program in Europe typically requires GRE (Graduate Record Examination) or GMAT (Graduate Management Admission Test) scores. MBA programs in Europe also require English language proficiency tests like the IELTS.
The minimum GMAT or GRE scores in European business schools or universities differ from one university to another. When applying for an MBA program in Europe, your GMAT score must not be under 550. Generally, GMAT scores for an MBA program in Europe range from 550 to 730. Top European business schools require a minimum of 600 GMAT score apart from other requirements.
Many European business schools consider GRE an equivalent test to GMAT. Therefore, in many admission requirements, you will see GRE as an alternative to GMAT. To qualify for an MBA program in Europe by submitting GRE scores, you must score between 320 to 325. Generally, students applying to competitive business schools in Europe often score above the recommended minimum GRE or GMAT scores.
Do I Need IELTS to Study in Europe?
Yes, you may need IELTS to study in Europe. Students who pursue an MBA in English but whose native language is not English must provide proof of English proficiency.
As a native language, English is mainly spoken in the United Kingdom and Ireland in Europe. However, it is widely spoken and understood across all European countries. Considering that Europe is a hub for international students from all over the world, most business schools in the continent offer English-taught MBA programs.
To prove your proficiency in English for MBA studies in Europe, you must take a language proficiency test, which often includes the IELTS. The minimum that you must score when taking the IELTS is 6.5.
Other language proficiency tests include TOEFL, where the minimum that you must score is 88. PTE is another English language proficiency test that you can take to prove your English proficiency; the minimum score accepted in Europe is 72.
Can I Do an MBA in Europe in English?
Yes, you can do an MBA in Europe in English. Most EU MBA programs are in English, but you must provide proof of language proficiency to qualify for an English-taught MBA program in Europe. Note that if English is your native language, you do not have to provide proof of language proficiency.
Some of the best universities that offer English-taught MBA programs are:
- IE Business School
- INSEAD Business School
- Bocconi University
- ESADE Business School
- Warwick Business School
- ESMT Berlin
- Erasmus University of Rotterdam
Does Europe Require GMAT?
European business schools require GMAT scores as part of their admission requirements. However, some universities make an exception regarding GMAT scores and accept students who have not taken the exam. Usually, universities or business schools that do not prioritize GMAT scores in their admission requirements focus on other elements, such as work experience and academic qualifications.
Some of the European business schools that do not require GMAT scores as part of their admission requirements are the following:
- Geneva Business School
- Technical University of Munich
- University of Stuttgart
- Witten/Herdecke University
- Durham University Business School
- Birmingham City Business School
- Anglia Ruskin University
- Charles III University of Madrid, etc.
Can I Do MBA in Europe Without Work Experience?
Yes, you can complete an MBA in Europe even if you do not have any work experience. Some of the best business schools in Europe offer a spot to international students with no prior work experience. However, to be eligible for admission, you must meet other requirements and make up for the lack of work experience.
Some of the countries in Europe you can pursue an MBA program with no work experience are the following:
- The United Kingdom
- The Netherlands
EU MBA programs that accept students with no work experience are the following:
- IE Business School
- Rotterdam School of Management
- Technical University of Munich
- HEC Paris
- University of Tubingen
- University of West London
- University of Amsterdam
Which European Country Is Good for MBA Jobs?
Choosing the best country in Europe to pursue an MBA requires extensive research, not only in the career opportunities aspect but also in the quality of MBA programs, tuition, and living costs. The following countries are some of the best countries in Europe to pursue an MBA for those aiming for a successful international career.
- France. The world-class faculties, the top-notch business education, and French as an important business language make France an ideal choice for MBA studies. Universities that offer MBA programs in France have their graduates employed within three months of graduating.
- Spain. Spain’s business school rank among the top business schools worldwide. Therefore, graduates of these universities will have plenty of career prospects after graduating. MBA studies in Spain do not only prepare students for a career in the country but also for working in different international settings.
- Germany. Germany makes an excellent choice for MBA studies due to its strong economy, high demand for MBA professionals, affordability of its MBA programs, and long-term career opportunities. After graduation, you can remain in the country as long as you find a job within a year of graduating, which is not a difficult task for excellent MBA students.
- United Kingdom. The United Kingdom is characterized by its competitive financial centers and the lucrative salaries MBA graduates earn. The quality of MBA programs in the UK is so good that students secure a job even before graduating. The academic and professional training an MBA student in the UK gets is hard to beat and hugely favored by recruiters worldwide.
- Switzerland. Switzerland might be one of the best countries to work in after your MBA. It is widely recognized that Switzerland is home to some of the top corporations in the world, and salaries of MBA graduates in the country can reach the amount of CHF 126,000 or €128,281 per year.
- Netherlands. Universities in the Netherlands have established long-lasting cooperation with different universities, companies, organizations, and relevant institutions where MBA students can gain hands-on experience in their respective fields. As a result, all those completing their internships in prominent institutions can take the opportunity and impress their potential future employer.
What Is the Salary of an MBA Graduate in Europe?
The salary of MBA graduates across different countries in Europe is as follows:
|Bulgaria||BGN 189,328 (~ €96,800)|
|Croatia||HRK 241,200 (~ €31,985)|
|Czech Republic||CZK 837,610 (~€ 34,388)|
|Denmark||DKK 581,000 (€78,107)|
|Hungary||HUF 8,400,000 (~€20,490)|
|Latvia||LTV 21,120 (~€30,051)|
|Poland||PLN 122,400 (~€26,034)|
|Romania||RON 146,400 (~€29,626)|
|Sweden||SEK 949,674 (~ €86,426)|
Which MBA Is Most in Demand in Europe?
As business is becoming increasingly global, recruiters are looking for candidates with international experience. In Europe, the most in-demand MBAs are those specializing in finance, operations, marketing, entrepreneurship, and human resources.
The MBA with the highest job opportunities in Europe includes an MBA in Finance, Business Analytics, and Entrepreneurship. Graduates of these fields in Europe earn up to €90,000 per year, on average.
Graduating with an MBA in Europe provides you with the following career opportunities:
- Investment Analyst
- Information Security Analyst
- Global Controller
- Agriculture Economist
- Investment Associate
- Sales Manager
- Risk Manager
- IT Manager
- Financial Advisor
- HR Manager
How Long is MBA in Europe?
One of the advantages of pursuing an MBA in Europe is the duration of the degree. Generally, in Europe, you can complete a full-time MBA in 1 year. However, EU MBA programs vary. You can pursue an Executive, Part-time, Joint, Global, and Online MBA.
The duration of the different MBA programs in Europe is as follows:
Programs in Europe
|Full-time MBA||12 to 24 Months|
|Global/International MBA||18 Months|
|Executive MBA||12 to 24 Months|
|Part-time MBA||12 to 24 Months|
|Online MBA||24 Months|
|Specialized MBA||10 to 24 Months|
|Joint MBA||15 to 19 Months|