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Before starting the discussion on the Top Business Schools in the world, one must know what are business schools and what is their purpose? Business schools are the schools which usually teach and specialize in courses related to Business, their purpose is to provide students with the knowledge and skills required for the administration of Business. The various courses which are offered to the students, by the Business schools are Masters in Business Administration, Postgraduate diploma and certified courses related to business and Business Administration. Deciding on Pursuing an MBA is always a tough decision for personnel and selecting the aptest college for you according to your requirements and skillset is even tougher.
An MBA from a prestigious college is the key to success for almost every candidate. Doing a Business or Management course from an elite college is advantageous for the graduates.
Graduates with an MBA degree or PGDM in business-related courses from a globally recognised university have the potential to pursue a High-paying Job/career.
World-class business schools produce corporate leaders and entrepreneurs who are responsible for the driving economy, thus, business schools also contribute to the running of the economy.
The top business schools in the world accept scores scored by the candidates in the GMAT exam.
Full-form of the GMAT is General Management Aptitude Test, which is accepted by more than 500 business schools in the world.
The passing rate of the GMAT every year is also very impressive, every year more than 20% of candidates who are appearing for the exam, clear the exam.
There are various colleges around the globe which give students admission without considering the marks scored by the students in the GMAT exam.
Given below table shows the institutions offering MBA courses around the globe without accepting the GMAT marks.
|Kellogg School of Management, Northwestern University|
|Loyola University Chicago|
|Michigan State University|
|Ross School of Business, University of Michigan|
|Rutgers Business School, Rutgers University|
|Texas A & M University|
|University of Delaware|
Graduates from Business school are specially taught to handle
problems and solve problems in the business with a positive approach which helps them to run big businesses successfully.
Till now you must have gotten an insight into the importance of the top world business schools, In the further sections of the blog, we will be discussing about the world’s top business schools in detail.
Given below is the list of the top world-class business schools with world-class facilities according to their past results and achievements.
- Stanford University
- Harvard University
- University of Pennsylvania — Wharton
- London Business School
- MIT — Sloan
- HEC Paris
- University of Chicago — Booth (tie)
- IE Business School
- Columbia University
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Top Business Schools in the World
Stanford University was founded in 1885 by a California senator named Leland Stanford and his wife, Jane, for public welfare.
When railroad magnate and former governor of California Leland Stanford and his wife, Jane, lost their only child, Leland Jr., to typhoid in 1884, they decided to build a university in the memory of their child.
The Business school of Stanford University is named Stanford Graduate School of Business.
The Mission of Stanford Graduate School of Business is to create ideas that deepen and advance and advance the understanding of management and with those ideas develop innovative, principled and insightful leaders who change the world.
Stanford Graduate School of Business is one of the top universities in the domain of business and management field.
These are the main highlights of the Stanford Graduate School of Business:
- More than 80% of the students are given financial aid by the university who wish to pursue an undergraduate degree.
- Have an excellent faculty and student-faculty ratio i.e., 4:1.
- This university was ranked second by the QS world university ranking 2018.
Harvard University is a research and nonprofit institution, which is focused on creating educational opportunities for people from various places.
Harvard is one of the oldest institutions in the world, Harvard was established in the year 1636, currently, 35,276 students are studying at Harvard.
Harvard has 12 degree-granting schools and the Harvard Radcliffe Institute.
Harvard University started offering MBA courses back in 1908.
Harvard Business School provides students with various programs MBA, Executive education, online certified courses and doctoral programs.
Given below are the highlight of Harvard business schools
- Harvard is ranked 1 for the “best value” among National Universities.
- Excellent Faculty and a student-faculty ratio of 7:1.
- More than 50% of the students studying at Harvard receive scholarship aid.
University of Pennsylvania — Wharton
Wharton is the World’s First Business school, it was inaugurated 135 years ago in the year, 1881. American entrepreneur and industrialist Joseph Wharton established the world’s first collegiate school of business at the University of Pennsylvania.
Wharton is one of the world’s most powerful research and teaching institutions, with world-class faculty of 4000 active members and a research budget of around $1 billion.
More than 95% of the graduates receive jobs within the next quarter of completion of graduation.
The average salary package after completion of the MBA degree is US$ 125,000. Prominent industry leaders which provide jobs to the University of Pennsylvania — Wharton pass out are Deloitte, Goldman Sachs, McKinsey, etc.
London Business School
London Business school is the second-ranked business school among the other European business schools.
London Business school is the only Non-US business school which has been ranked 1 for the full-time MBA programme in the world.
96% of the students get jobs after a quarter of passing out of the MBA course from the London Business School.
London Business School Highlights:
- Its MBA program is awarded 2nd rank by Bloomberg business week.
- London Business School is ranked number 4 among the other 200 top business schools in the world by 2018 times higher education’s business and economics ranking.
MIT — Sloan
MIT- Sloan was established in the year 1861, MIT Sloan is a different kind of Management school. It is a part of the world’s leading research institutions, they are bringing together today’s brightest individuals to tackle global challenges, for real.
The curriculum of MIT Sloan is focused on action learning, which focuses that students must apply concepts learned in the classroom to real-world business settings. Academic rigour has a strong Influence.
The biggest plus point of MIT Sloan is the world-class faculty of MIT-Sloan which is constant support for the students.
For students, MIT means different kinds of opportunities, hands-on learning, and global experience.
The mission of the university is to develop principled, innovative leaders who improve the world and generate ideas that advance management practice.
Insead is the first education institution in Europe to offer an MBA program to students. It is also the first institution in Europe to offer an MBA program for one year, which broke the tradition of offering the standard course of the 2-year program.
- INSEAD have triple accreditation from AACSB(Association to Advance Collegiate School of Business), EQUIS(European Quality Improvement System) and AMBA(the Association of MBAs)
- INSEAD Has campuses in France, Singapore and Abu Dhabi
University of Chicago — Booth
The ranking for the full-time MBA program by the University of Chicago — Booth in the world under the global MBA rankings in the year 2018 by QS is 12.
In addition to the fact stated above, the University of Chicago — Booth is ranked in the top 10 Business schools globally for the financial aid it provides to its International students
University of Chicago — Booth Highlights
- University of Chicago — Booth, was awarded the third rank in the country by the US news and world report 2018
- It was ranked 9th in the world according to the QS world university rankings 2018
- It is positioned at the 9th spot in the world by the world university rankings in 2018.
Apart from the above-mentioned Universities HEC Paris, Columbia University, etc., are also some of the top colleges around the Globe.
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Ques. What are the top business schools in the world?
Answer: Some of the best MBA colleges in the world are:
- Stanford Graduate School of Business
- Harvard Business School
- The Wharton School
- HEC Paris
- MIT Sloan School of Management
Ques. What are some factors considered while ranking the top B-schools in the world?
Answer: Some factors which are considered while ranking the best B-schools across the globe are:
- Employability rate
- Return on investment
- Entrepreneurship and alumni outcomes
- Thought leadership
Ques. What are the highest paying specializations in MBA?
Answer: Some top paying specializations in MBA are:
- Financial services
- Consumer packaged goods
Ques. What is the average MBA tuition fees for various countries?
Answer: The average MBA tuition fees for various countries are:
- US-35,000 EUR/ year
- UK-20,000 EUR/ year
- Australia- 17,000 EUR/ year
- Canada- 25,000 EUR/ year
- Singapore- 35,000 EUR/ year
- Spain- 20,000 EUR/ year
Ques. Why should I study MBA abroad?
Answer: Some benefits of studying MBA abroad are:
- Establish a global business
- Build a world network
- Discover top-notch academic facilities.
- Obtain a high ROI.
- Learn about the entire global market
- Get high-paying jobs all throughout the world.
Ques. How much does a master’s cost in Canada?
Answer: The average cost of a master’s degree in Canada during the 2021–22 academic year was CAD $7,472 (USD $5,880). The cost of a specified number of instalments (the fees paid for each semester of study) plus any additional expenses will typically be used by your university to determine this total (such as administrative charges).
Ques. Is a master’s degree worth it in Canada?
Answer: When compared to other English-speaking nations like the UK and the USA, Canada has the lowest tuition costs. More international students are choosing Canada as their study abroad location for a business management degree every year. The four explanations for choosing Canada for your business degree are listed below.
Ques. What are the reasons to study business management in Canada?
Answer: Top reasons to study business management in Canada for international students.
- Top-ranking universities
- Great selection of courses
- Thriving business economy
- High return on investment