If you are interested in a career in business, it is best to enroll in a quality business school in Europe. Colloquially, they are called ‘b-schools’ or ‘biz schools’. They offer education in fields related to business, such as economics, finance, and management. Business schools are excellent for those who want to work abroad and gain experience in an international environment. Studying at such a business school will open many doors for you, and during your studies, you will acquire concrete skills that will make you highly competitive in the highest-paid segment of the job market.

1. Characteristics of the Best Business Schools

1.1. International environment

As you may already know, the best business schools are those that have international academic accreditations. Many of these schools have campuses in multiple countries. For example, ESCP Business School has campuses in France, Germany, Italy, Poland, Spain, and the United Kingdom, while Essec Business School has campuses in France, Singapore, and Morocco. Thanks to their global presence, they are recognized and highly valued internationally, attracting students from various parts of the world. At an average business school of this profile, students come from 100 different countries, and 98% of them speak two or more languages. At such a business school, you will have the opportunity for exchanges and visits to other campuses within the chosen program, as well as at least one semester of study at one of the partner universities.

1.2. Public and private business schools

Public business schools are funded by national governments, and the tuition fees depend on the nationality of the students (students from EU/EEA countries pay lower tuition fees than international students if the school is located within the EU/EEA area). Private business schools are funded through student tuition fees and some other foundations, so the tuition fees are higher than those in public business schools, and there is usually no difference in tuition fees between students from EU/EEA countries and international students. Since these are the best business schools, there is high competition for admission to both public and private business schools.

1.3. Programs in English language

These business schools are highly accessible to students from all over the world because, regardless of whether they are geographically located in France, Spain, Poland, Singapore, Morocco, or Germany, all classes and group assignments are conducted in English.

1.4. Organization of study programs

In private business schools, students work in smaller study groups, allowing them to learn and apply the material more quickly and effectively in a smaller group where they feel connected to their peers. They often receive assignments in small teams with familiar colleagues and can easily ask questions to professors or administrative staff and get quick answers. On the other hand, public business schools often have up to 200 students in a lecture hall, making it more challenging to organize students into smaller groups where professors know something about each student. Regardless of whether the school is private or public, universities strive to organize study groups to be as heterogeneous as possible and include students from diverse backgrounds.

Most business schools are quite flexible and offer the option of online study: whether the student is on campus (on-site) or attending classes from another location (remote classes). Each of these modalities has its positive and negative sides, so it is important to consider what would suit you better depending on your priorities.

1.5. Experiential Learning

The best schools are recognized for providing the best opportunities for students to apply their knowledge and skills, receive professional, high-quality, and timely mentorship, and get feedback.

Learning through the case study method and pragmatic approach has proven to be the most successful. The best business schools efficiently allocate their resources to ensure a variety of tools, programs, projects, and workshops that support the process of acquiring new skills.

1.6. Networking

Quality business schools create numerous opportunities for students to connect with the sector, companies, and teams looking for new interns or employees through internships, business fairs, and similar events. This increases the students’ chances of employment. Between 50-93% of students find jobs through the programs offered by the school.

1.7. Building Your Business Profile

Business schools of this caliber are dedicated to empowering students and helping them develop into the best version they can offer the job market during their studies. This process is greatly aided by student exchanges, internships, and professional development with the most prestigious companies in the sector.

1.8. Faculty Excellence

The faculty members are top experts in their fields, whether they are academics, entrepreneurs, consultants, or business leaders involved in implementing study programs. It is important to have a balance among professors, academics, and sector experts so that students gain high-quality theoretical insights as well as practical skills.

1.9. Ranking and the Advantage of a Degree from Top Business Schools

The best business schools in Europe, as well as worldwide, have been evaluated and ranked according to the quality they provide. You can check the Financial Times ranking of business schools for 2023 here.

In addition to the name of each of these business schools being a brand in itself that opens doors, a degree from these business schools means extensive knowledge and an excellent springboard for further career development. Furthermore, each of these schools boasts a network of alumni who significantly help each other throughout their careers.

2. Application Process

Given that many students wish to enroll in these top business schools and competition is fierce, whether for undergraduate or graduate programs, we have outlined a few steps to ease your application process. Although most schools do not have a fixed number of students they admit (numerus clausus), we cannot stress enough how important it is to understand the rigorous candidate selection process. Some steps in the application process are the same regardless of the level of study you are applying for, but for easier understanding and navigation, we have separated these two processes here.

2.1. UNDERGRADUATE STUDIES (BA, BSc)

2.1.1. Carefully study Application Deadlines and Admission Requirements for each specific program at the Business School you are interested in

Regarding application deadlines, it is highly recommended to apply as early as possible since, in many schools, 90-95% of places are typically filled by the end of the second round, leaving only 5-10% of the total available spots for the third application deadline.

Many schools have multiple application deadlines and a selection process that consists of several stages, so it is important to gather detailed and timely information about the admission requirements for each program that interests you. Therefore, thoroughly read the websites of the study programs, download their promotional brochures, inquire through social media about partnerships and the study atmosphere, and email the administrative staff if any information is unclear or you do not understand what it means for you who completed high school in Croatia.

The requirements for the first round of selection at most schools are usually similar:

  • Fill out the application form
  • Submit transcripts from the second and third year of high school and the grade point average of those two years
  • Submit a resume, recommendations, and a motivation letter
  • Provide a recognized English language certificate (IELTS, TOEFL, etc.)
  • Submit the results of the business school’s entrance exam (e.g., Bocconi, ESADE Barcelona, and IE have their own entrance exams) or SAT/ACT scores

If you pass this round, the business school will invite you to participate in a selection interview (one-on-one video interviews and personality assessment interviews).

Keep in mind that some schools, such as ESCP Europe, first select candidates based on the first two or three criteria and only allow some candidates to take the entrance exam.

2.1.2. Explore Scholarship/Financial Aid Opportunities, Student Housing, and other specific features of each Business School

Each program and school competes with one another and offers different types of services and extracurricular activities at the university. Although a business school may have multiple campuses, keep in mind the geographical, cultural, and climatic specifics, as studying at a campus in Italy is not the same as in Poland, let alone in Singapore or Morocco. Therefore, carefully read the websites related to these aspects of the study.

2.1.3. Start collecting Application Documents early

You need to submit the test results by the application deadline, which means you must take the SAT/ACT/LNAT or entrance exam before the chosen application round’s deadline. Make sure to research the specifics of each of these exams and choose the option that is best for you based on your individual strengths. Once you submit your application, you cannot change the selected exam or submit results later.

The motivation letter is the only part of the application that is not a result or number, and it is extremely important to write it well and present yourself in the best possible light. Naturally, it is also necessary to create your resume with great care. However, the most important thing is to inform yourself in time and prepare well for the SAT/ACT or entrance exam.

It is also important to know that candidate selection is not solely based on academic criteria, so think carefully about how you can strengthen your application and effectively argue why you are a good candidate for the business school you are applying to.

2.1.4. Prepare thoroughly and on time for the interview

If you pass the first round of selection, you will be invited to an interview with the committee (in some business schools, the Jury). There are several types of interviews (one-on-one video interviews and personality assessment interviews), so it is important to inform yourself in advance about the format of your interview and how to best prepare for it.

Thoroughly study the pages of the study program you are applying to, watch all the webinars offered, and ask Student Ambassadors about the questions you can expect (in addition to the usual interview questions). Some business schools will send you a list of articles, links, and tips on how to best prepare, as well as a list of technical instructions for the interview, so it is very important to carefully read all the materials they send you.

Start thinking early and make notes on how you will present yourself in the best light and articulate your expectations when given the opportunity. Since interviews can be very stressful and the committee does not have much time for each candidate, it is crucial to practice the content and manner of your presentation in advance and seek help from a mentor if you feel you need support.

2.2. GRADUATE STUDIES (MA, MSc, MBA Programs)

2.2.1. Carefully Study Application Deadlines and Admission Requirements for each specific Graduate Program at the Business School you are interested in

Regarding application deadlines, it is highly recommended to apply as early as possible since, in many schools, the majority of places are typically filled by the end of the second round, leaving only a small percentage of the total available spots for the third application deadline.

Many schools have multiple application deadlines and a selection process consisting of several stages, so it is important to gather detailed and timely information about the admission requirements for each program that interests you.

The requirements for the first round of selection at most schools are usually similar:

  • Fill out the application form
  • Submit your undergraduate diploma or transcripts
  • Provide a resume, recommendations, and a motivation letter
  • Submit the results of the business school’s entrance exam or GMAT/GRE scores
  • Provide a recognized English language certificate (IELTS, TOEFL, etc.; knowledge of an additional foreign language can be an advantage)
  • For MBA programs, you need at least 3 years of full-time work experience and proof of professional experience or study abroad

2.2.2. Explore Scholarship/Financial Aid Opportunities, Student Housing, and other specific features of each Business School

Each program and school competes with one another and offers different types of services and extracurricular activities at the university. Although a business school may have multiple campuses, keep in mind the geographical, cultural, and climatic specifics, as studying at a campus in Italy is not the same as in Poland, let alone in Singapore or Morocco. Therefore, carefully read the websites related to these aspects of the study.

2.2.3. Start Collecting Application Documents early

You need to submit the test results by the application deadline, which means you must take the GRE/GMAT or entrance exam before the chosen application round’s deadline. Make sure to research the specifics of each of these exams and choose the option that is best for you based on your individual strengths. Once you submit your application, you cannot change the selected exam or submit results later.

The motivation letter is the only part of the application that is not a result or number, and it is extremely important to write it well and present yourself and your work experience in the best possible light. Naturally, it is also necessary to create your resume with great care. However, the most important thing is to inform yourself in time and prepare well for the GRE/GMAT or entrance exam.

It is also important to know that candidate selection is not solely based on academic criteria, so think carefully about how you can strengthen your application and effectively argue why you are a good candidate for the business school you are applying to.

MBA programs often accept candidates with 3 to 15 years of work experience, including bankers, consultants, doctors, military officers, and professional athletes, and organize them into the same study groups. They believe that having candidates with diverse backgrounds is important for the learning process and skill acquisition, as they will view and question theories from different perspectives. Keep in mind that graduate programs expect students who are willing to think critically and proactively contribute to the learning process. This requires a certain level of theoretical knowledge as well as concrete business experience.

2.2.4. Prepare thoroughly and on time for the interview

If you pass the first round of selection, you will be invited to an interview with the committee (in some business schools, the Jury). There are several types of interviews (one-on-one video interviews and personality assessment interviews), so it is important to inform yourself in advance about the format of your interview and how to best prepare for it.

Thoroughly study the pages of the study program you are applying to, watch all the webinars offered, and ask Student Ambassadors about the questions you can expect (in addition to the usual interview questions). Some business schools will send you a list of articles, links, and tips on how to best prepare, as well as a list of technical instructions for the interview, so it is very important to carefully read all the materials they send you.

Start thinking early and make notes on how you will present yourself in the best light and articulate your expectations when given the opportunity. Since interviews can be very stressful and the committee does not have much time for each candidate, it is crucial to practice the content and manner of your presentation in advance and seek help from a mentor if you feel you need support.

TOP EUROPEAN BUSINESS SCHOOLS

1. HEC Paris

Founded in 1881 in Paris, HEC Paris promotes three key values: academic excellence, a strong academic community, and the benefits of diversity. It ranks as the world’s top business school, offering programs from undergraduate to doctoral levels, including MBA studies, summer schools, and online programs. Employment rates are high, with 50% of students securing jobs before graduation. Competition is fierce, so it’s important to be well-informed and prepared if you intend to apply.

2. IE Business School

Established in 1970 in Madrid, Spain, IE Business School offers a wide range of undergraduate and graduate programs, including MBA studies and dual-degree programs. Highly ranked on global scales, it’s known for its hybrid learning approach that combines cognitive and emotional learning with active and reflective methods. It focuses on technological innovation and international mobility, attracting students from around the world.

3. Bocconi University

Located in Milan, Università Luigi Bocconi ranks high on global charts, last year ranked as the sixth-best university in the world. Established over a century ago, it attracts around 2000 international students annually. Bocconi offers eight undergraduate and 13 graduate programs, along with specialized master’s degrees, doctoral programs, and summer schools. Instruction is provided in Italian and English, with about 50% of undergraduate students being international.

4. EU Business School

Founded in 1973, EU Business School has campuses in Barcelona (Spain), Geneva and Montreux (Switzerland), and Munich (Germany). It offers various undergraduate and graduate programs, as well as online studies. The school is highly ranked globally, with 93% of students receiving job offers within six months of graduation. Exchange programs with partner universities worldwide are available.

5. ESCP Business School

One of the oldest business schools globally, founded in 1819 by two of Napoleon’s soldiers, ESCP Business School offers a range of undergraduate, master’s, MBA, and doctoral programs. It has campuses in France, Germany, Italy, Poland, Spain, and the United Kingdom. Together with HEC Paris and ESSEC Business School, it forms the “triumvirate” of the most renowned French business schools.

6. Esade Barcelona

Established in 1954, Esade Barcelona is part of Ramon Llull University (UNIJES network of Jesuit universities). The school is known for producing entrepreneurs with a strong ethical foundation, aware of their values and committed to creating a better world. Esade Creapolis, the university’s innovation center, allows students to apply and explore their entrepreneurial, innovative, and creative skills.

7. Frankfurt School of Finance & Management

Founded in 1957 as a banking academy, today it offers a wide range of undergraduate, master’s, MBA, and doctoral programs, as well as continuing professional development (CPD) programs. The university is known for its strong emphasis on research and international employment opportunities, offering at least one semester of study at partner universities.

8. KEDGE Business School

Established in 2013 through the merger of Bordeaux Ecole de Management (ESC Bordeaux) and EUROMED Management in Marseille (ESC Marseille), KEDGE Business School has campuses in France, Senegal, Ivory Coast, and China. The business school holds triple accreditation (Equis, AMBA, and AACSB) and is highly ranked globally. Known for its close collaboration with partners from various industries, it offers a range of dual-degree programs and has modern campuses equipped with cutting-edge technology.

These business schools provide top-notch education and excellent opportunities for professional development, making them attractive choices for students worldwide.

Sources:

  1. EuroNews – Europe’s Best Business Schools Accessed on March 17, 2024.
  2. Financial Times – European Business School Rankings 2023 Accessed on March 13, 2024.
  3. College Life – European Business Education Guide Accessed on March 16, 2024.
  4. Top Universities Accessed on March 12, 2024.
  5. Your Dream School – How to Get into the Best European Business Schools Accessed on March 10, 2024.
  6. Top MBA – How to Get Admitted to Top European MBA Programs Accessed on March 12, 2024.

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