A Guide to the MBA in Europe

Considered the ultimate business qualification, there is much to consider when applying for a Masters in Business Administration (MBA). You may decide to stay in your home country and do your MBA part-time or by distance-learning, or you may opt for an overseas experience. For example, American or Indian students may wish to choose a European location so they can get valuable insight which will set them apart from others back home.

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In Europe, the Masters in Management still attracts the most students, but one and two year MBAs are quickly catching up. Globally, MBAs usually target professionals, recent graduates and international students. European schools go further by actively recruiting women, entrepreneurs and those keen to launch new ventures.

Many European MBAs also offer the chance to learn another language and explore specialist areas such as fashion, luxury goods or wine trading. After all, balance sheets are easier to face with a glass of Bordeaux in hand.

European MBA rankings

The UK, France and Spain still lead Europe’s MBA rankings, with a few schools in Italy, Denmark and Germany sneaking into the top 50. Rankings are useful but best taken with a pinch of salt, especially if you want a particular type of MBA or a quirky specialisation. The USA remains the biggest draw and Asia is catching up, yet European schools hold their ground. Many students pay their own way, and a third of schools report rising international demand. Europe’s mix of cultural openness, global outlook and flexible visa rules only adds to the appeal.

An important factor in choosing a business school is the accreditation of its MBA. The most prestigious accreditation bodies are:

• AACSB - The Association to Advance Collegiate Schools of Business (based in Tampa, Florida, with an Asia office in Singapore).
• AMBA - The Association of MBAs (based in London).
• EQUIS - European Quality Improvement System (based in Brussels).

Each of these will provide a mark of quality to programmes. Less than 1% of Business Schools worldwide have been recognised with a triple crown accreditation so you can be sure that these are top-quality, although others with fewer accreditations or none, that feature high in the rankings are not to be ignored. The European triple accredited business schools, are in:

• Austria (one school): Vienna University of Economics and Business
• Belgium (one school): Vlerick Business School.
• Denmark (two schools).
• Finland (two schools).
• France (17 schools).
• Germany (four schools).
• Ireland (three schools).
• Italy (two schools): ESCP Europe in Turin and SDA Bocconi School of Management in Milan.
• The Netherlands (three schools): Maastricht University School of Management and Erasmus Rotterdam University and Amsterdam Business School.
• Norway (two schools).
• Poland (two schools): Kozminski University Business School and University of Warsaw.
• Portugal (four schools): Catolica-Lisbon, School of Business & Economics, Nova School of Business and Economics, Católica Porto Business School and Porto Business School.
• Spain (three schools).
• Sweden (two schools).
• Switzerland (two schools)
• UK (25 schools).

Being a professional qualification, MBA programmes provide a high employability rate for their graduates and work opportunities are available in the numerous global and local companies, throughout Europe and beyond, especially in emerging economies keen to engage with partners in European countries.

When choosing at which institution to study, there will be other considerations for the success of your post-MBA career:

• Local employment market, including recent trends in new (international) business settlement: this is important if you want to stay in the country or are looking long-term for a career in a global company;
• Guest lectures from private sector experts;
• On-campus recruitment from private sector firms;
• Graduate employability rates and destinations (national and international);
• Size of alumni network (networking is, after all, an important factor in the business world); and
• Career services available.

A 'European' MBA need not be taken only in one European country, or solely in Europe. Options are available to:

• Get a joint-MBA between two or more European institutions which have partnered up such as the University of Bradford and the University of Perugia or EuroMBA.
• Study a so-called European MBA which is delivered by a US institution in conjunction with a European partner, for example at the Tippie Business School in Iowa.
• Study at a European institution which has a branch campus(es) abroad such as INSEAD (France/Singapore) or ESCP Europe (France/UK/Germany/Spain/Italy)

The traditional MBA can be 12-24 months full-time, although there are part-time and distance learning options as well as an executive option. Most programmes will start in September but business schools may have several entry points or alternative start dates depending on the type of MBA and the institution.

Each MBA will have a specific curriculum but as a general rule, the structure will include core courses, which provide students with an integrated body of basic practical skills. In addition, about a third of the credits will be gained from elective courses which students can choose from.

Business schools may also offer out-of-classroom activities so if you are after practical experience as part of your MBA, check what is on offer in your course. For example:

• Competitions, a group activity sometimes involving local business (and a cash prize!);
• Research papers/dissertations;
• Consultancy, undertaking projects on request from business and non-for-profit community;
• Internships;
• Compulsory or optional periods of time abroad (including in partner overseas institutions as described above).

Academic

You’ll be expected to have a minimum GPA of 3.0/4.0 (or its international equivalent such a UK upper second class bachelor) for your undergraduate degree. A GMAT score is often required and generally a minimum score of 500-600 will be required but there is huge variation in the requirements.

Language

Excellent verbal and written skills are required and if English is not your first language, you’ll have to provide evidence of proficiency through an English language test such as TOEFL or IELTS. Similar requirements will apply in other languages, if you are opting for a bilingual programme or for a programme delivered mainly in the local language.

Other requirements

• Minimum 2-3 years relevant professional experience (some institutions will accept one year).
• References.
• Personal statement.
• CV.
• Successful interview for shortlisted candidates.

In brief, admissions officers will be looking for candidates who:

• Can demonstrate motivation, maturity and leadership.
• Have relevant work experience, including successful projects which can illustrate their attributes.
• Have a strong academic background.

MBA tuition fees vary considerably depending on which institution you choose. In Europe, these range from €11,000 to €40,000 (executive or international MBAs may carry higher fees). So it can be a considerably cheaper option than an MBA in North America, for example.

Application fees

Most MBA programmes will carry an application fee up to €100, depending on the institution. Others will apply an administrative fee for non-EU students. Once accepted onto a programme, it is likely you will have to pay a non-refundable deposit to secure a place, although this is then redeemed against your tuition fees once you have started the programme.

Other fees and costs

Institutions will sometimes have additional fees for student services, either optional or compulsory. International students are also required to have adequate health insurance and will have to subscribe to a policy through their institution. For living expenses and accommodation costs, consult our student guides to living in European countries.

If sponsorship from your employer is not an option, you may wish to explore scholarships to support your MBA studies. Business schools may offer MBA entrance scholarships, based in on merit or scholarships created from donations and legacies, recipients being selected on merit but on a wide variety of criteria. External organisations, such as banks and financial institutions may also have scholarships on offer.