Going to a B-school can be pretty beneficial for your professional career. Doing an MBA opens up a door for better job opportunities, helps in gaining expertise in various fields, and enhances managerial skills. Therefore going for MBA can be quite a good investment as it undoubtedly provides high ROI. In addition to this, if you are doing MBA from one of the best business schools in the world, it brings other advantages with it that can include Global credibility, networking opportunities, and most importantly boosting confidence. These can prove to be important factors in getting a better pay package and of course, a brighter future.
This Blog Includes:
- Top 10 Business Schools in the World
- Popular Business Courses With Duration and Fees
- How to Get into the Best Business Schools in the World?
Top 10 Business Schools in the World
QS Global MBA Rankings are done based on five key indicators to gauge the quality of the programs – employability, entrepreneurship and alumni outcomes, return on investment, thought leadership, and class & faculty diversity. Following is the table that represents the top 10 B-schools in the world along with their overall score allocated by QS rankings.
|1||Stanford Graduate School Of Business||94.2|
|2||Harvard Business School||92.2|
|6||London Business School||90.9|
|7||IE Business School||90.8|
|9||Columbia Business School||90.4|
|10||IESE Business School||89.5|
Must Read: The Elite M7 Business Schools
Stanford Graduate School Of Business
In a nutshell, the first year at Stanford typically involves learning foundational stuff which includes Finance, Marketing, Stats, Strategy, etc while the second year looks a lot like a kid in a candy store as the curriculum is fully open – some of the most common areas include healthcare, investing and non-profits and most importantly entrepreneurship. Fun fact- Forbes magazine has on record stated that “It is almost impossible to name a leading-edge company in Silicon Valley that isn’t closely associated with Stanford”. Also taking courses “across the street” is very popular amongst MBA students at Stanford -which includes courses at the D-school and Computer Science course. What makes this unique is the fact that not many B-schools encourage or allow you to take cross-disciplinary courses.
Harvard Business School
Being a part of an Ivy League school, at Harvard, you will get a lot of international exposure. This not only helps you to evolve on a personal level but also allows you to build a strong professional network from every part of the world. Coming to the curriculum structure, as compared to Stanford, Harvard mainly focuses on teaching through the case study method while Stanford is more into following the lecture learning method.
University of Pennsylvania – Wharton is considered to be a great option if you are looking for going into finance. Being Ranked 3rd in the best business schools in the world list, Wharton surely matches up to that standard with its rigorous curriculum that focuses on inculcating deep knowledge and leadership skills. This helps students to adapt to the ever-changing business world by focusing on data and technology- which are transforming old industries like retail and finance.
HEC Paris is one of the best business schools in Europe. Having studied at HEC Paris is surely going to make your CV shine brightly and help you land a great job in a renowned company. Coming to the curriculum, the HEC MBA program has a duration of 16 months, which is equally divided into two phases called the Fundamental and Customized phases. The First 8 months are given to the fundamental phase which is all about teaching core management abilities through rigorous classes. After this phase students move to the next phase called the Customized phase where they get to refine their skills in a specific field of their choice which will help in their CVs. Students spend these 8 months getting better at their skills through electives, foreign exchange programs, and real-world work experience.
MIT Sloan has for a long time maintained its position in the list of best business schools in the world. Its experiential learning model helps students in developing extraordinary leadership qualities. MIT’s average class size is about 140 students in the MBA program who come from diverse backgrounds. When it comes to diversity it not just includes different ethnicities, races, and nationalities but also different intellectual perspectives. Its student community is considered to be very collaborative and supportive which is rightly captured in the slogan “Sloanies helping Sloanies”. The 2 year MBA program is divided into 4 semesters wherein 1st semester is dedicated to core subjects while the rest of the 3 semesters is all about student creating a program for themselves that suits their interest areas.
Popular Business Courses With Duration and Fees
One of the two important factors that students consider while choosing a university is its program duration and fees. Therefore, the following table contains information relating to the top 10 business schools in the world and their duration and fees.
|University Name and Location||Duration||Tuition Fees (Annual)||Fees (INR)|
|Stanford University-Graduate School of Business, US||2 Years||USD 74,706||Rs. 61,76,867|
|Harvard University-Harvard Business School, US||2 Years||USD 73,440||Rs. 60,72,191|
|University Of Pennsylvania-The Wharton School, US||20 months+3.5 months of internship||USD 83,230||Rs. 68,81,651|
|HEC Paris School Of Management, France||16 months||EUR76,000||Rs 66,60,575|
|MIT-Sloan School Of Management, US||2 Years||USD 78,954||Rs 65,28,102|
|London School Of Business, UK||15-21 Months||GBP 92,735||Rs 93,11,469|
|IE Business School, Spain||11 Months||EUR 72,762||Rs 63,76,800|
|INSEAD, France and Singapore Campus||10 Months||EUR 91,225||Rs 79,89,667|
|Columbia Business School, US||20 Months||USD 77,376||Rs 64,01,587|
|IESE Business School, Spain||15 or 19 Months||EUR 93,500||Rs 81,88,917|
How to Get into the Best Business Schools in the World?
Getting into top business schools in the world surely requires a lot of hard work and patience as it is a long journey that the student has to go through in between preparing an application to acceptance. There is no one fixed way which will assure a student of getting accepted but there are some important key areas that the student needs to focus on for getting accepted by the university.
Eligibility for the Best Business Schools in the World
While the main eligibility criteria to apply for B-schools globally are graduation, GMAT, and English proficiency tests like IELTS or TOEFL but there are a lot of parameters based on which your application will be gauged.
1) Intellectual Aptitude – Since MBA requires you to work hard a lot with academics the university is going to gauge you on this by looking at your previous records academically and also by your GMAT scores.
2) Interpersonal Skills – Working in teams is a really big part of a student’s life in a B-school. Therefore being cooperative and comfortable working with a group of people is a must-have in a student. So make sure you are good at these skills and state them clearly in your essay to make your application stand out.
3) Leadership Qualities – B-schools are about having students at their university who are leaders and will carry the legacy of their institution in the most effective way. This would be judged by the role you took in your graduation and your previous jobs where you were in the leading position and managed the team effectively by resolving their issues.
4) Personality – Getting into one of the best business schools in the world requires you to have clear career goals apart from being a great achiever. The university is going to judge you on this by your essay in which you have to mention your interest areas, what motivates you and in which areas you are most passionate.
1. You must sit for GMAT and aim for a score of 750+. This surely carries a good weight when the university will consider your application.
2. Keep visiting the websites of the universities that you are aiming for to be up to date with what’s happening.
3. Connect with the admission office a few months before you submit your application, for their guidance.
4. Try to connect with the alumni base of the university so you can gain important information from their experience which can help you build a strong application.
5. Write your essay and weave it into a compelling story so that the reviewer pays special attention to your application. Also once you complete your essay don’t forget to get it reviewed by your mentors and seniors for their valuable feedback.
6. Try to gain work experience before applying, as it adds extra weight to your application.
7. B-schools pay a lot of attention to the extracurricular activities that the student is into. So it would surely work out in your favour if you are part of some sports club or participate a lot in quiz competitions or some other activities.
Once you have decided on the universities and courses to go to after that you have to start collecting your documents. Some of the document requirements may vary from university to university but there are some general documents that mostly every university asks for.
- Test scores on exams like GMAT and GRE and scoring 750+ marks are generally required to get into top B-schools.
- Your college mark sheet shows the courses that you have taken and how well you have performed.
- Professional recommendations can include recommendations from your professors, colleagues, or your employer.
- An essay (SOP) should include your professional, personal, and extracurricular information.
- Concise one-page resume.
- Some schools also require video essays.
Scholarships are a great way to realize your study abroad dream which can help you to get past the hurdle of finance that many students face, unfortunately. Therefore, we have curated a list of some of the best MBA scholarships for Indian students.
|Name of the Scholarship||Fund|
|INSEAD Deepak and Sunita Gupta Endowed Scholarship by INSEAD Business School||EUR 25,000 ( around INR 19,60,000)|
|Harvard University-Boustany Foundation MBA Scholarship||USD 95,000 which includes USD 47,500 (INR 34,26,300 approx) along with accommodation and travel expenses at Boustany Foundation|
|UWE Bristol MBA Scholarship by the University of the West of England, Bristol||50% of the tuition fee for 1 year|
|Oxford Pershing Square Scholarship by Pershing Square Foundation||INR 13,50,000|
|Weidenfeld-Hoffman Scholarship and Leadership Program by Weidenfeld-Hoffmann Trust in partnership with The Said Business School, University of Oxford||INR 13,70,000|
|The University of Chicago Booth School of Business||Upto full annual tuition|
|AICPA John L. Carey Scholarship Award||USD 5,000 (INR 3 Lakhs)|
|International Council of Shopping Centers Foundation — Edward J. DeBartolo, Sr. Graduate Scholarships||USD 10,000 (INR 7,46,149)|
Ans- Following are the reasons that make the MBA program in top business schools worth everything-
Diverse Cultural exposure
Global networking opportunities
Get hands-on world-class academic facilities
High-paying job opportunity
Boost in confidence
2. Fee structure
3. Alumni network
4. Return on Investment
5. Employability rate
6. Faculty and teaching style
1. US-35,000 EUR/ year
2. UK-20,000 EUR/ year
3. Australia- 17,000 EUR/ year
4. Canada- 25,000 EUR/ year
5. Singapore- 35,000 EUR/ year
6. Spain- 20,000 EUR/ year
Suppose you’re excited to catalyze your dream of pursuing an MBA from abroad at one of the best business schools in the world. In that case, the experts at Leverage Edu can help you find a suitable specialization to advance your career in Business and Management.