|International Institute for Management Development||Switzerland|
|University of Cambridge||United Kingdom|
|SDA Bocconi School of Management||Italy|
|IE Business School||Spain|
|Cranfield University||United Kingdom|
|University of Oxford||United Kingdom|
|University of Warwick||England|
|Lancaster University Management School||United Kingdom|
|SP Jain Institute of Management & Research||India|
Can you imagine earning an MBA in just one year and enjoying a median 5-year gain of $100K or more? What if this accelerated MBA was also a lot less expensive than a two-year MBA or even a one-year MBA in the U.S.? Well, you can stop dreaming and head to Europe. One-year MBAs have been popular in Europe for decades and according to Fortune, costs for the program have plummeted thanks to a strong U.S. dollar.
Besides low tuition costs and higher gains, “many top European business schools accept higher percentages of applicants with lower GMAT scores than top ranked U.S. schools.” This means, European MBA programs take a shorter time to complete, they are less expensive and more accessible, and they offer a remarkable return on investment (ROI). In fact, according to Cristina Settimi of Forbes, “class of 2010 graduates from the best international one-year business schools had a median 5-year gain of $125,500 versus graduates of the best international two-year business schools, who had a median gain of $64,000, and graduates of U.S. two-year schools, who had a median gain of only $42,500.”
Further, she says, giving up only one year of salary means “less time paying back the cost of an MBA. It took only 2.4 years for the 2010 MBA class to pay off an international one-year program. Two-year international programs took 3.4 years to pay off; their U.S. counterparts took 4 years to pay off.” Of course, earning an MBA overseas isn’t for everyone. But if you consider the rather small time investment coupled with big savings, most would agree that it might be well worth the journey.
Let’s take a look at the 5-year gains of some of the top international 1-year MBA programs.
1. INSEAD, Fontainebleau, France & Singapore
5-Year MBA Gain: $171,200
Pre-MBA Salary (Class of 2010): $84,000
2014 Salary (Class of 2010): $209,000
INSEAD created the one-year MBA format more than 50 years ago. The school says it offers “the most diverse MBA” with more than 90 nationalities every year across campuses in Europe, Asia, and the Middle East and optional exchanges with top schools in the U.S. and China. INSEAD is AACSB-accredited.
2. International Institute for Management Development (IMD), Lausanne, Switzerland
5-Year MBA Gain: $163,600
Pre-MBA Salary: $90,000
2014 Salary: $226,000
To be accepted into IMD’s MBA program, applicants must speak one language besides English. The school’s class of 2015 consisted of 90 students representing 45 different nationalities that, on average, spoke four different languages. IMD is AACSB-accredited.
3. University of Cambridge, Judge Business School, Cambridge, UK
5-Year MBA Gain: $158,700
Pre-MBA Salary: $72,000
2014 Salary: $169,000
The MBA program at Judge is taught entirely in English, so applicants’ native language must be English or fluency in English is required. The school says it seeks applicants who are highly motivated and ambitious, thrive under pressure, and have already exhibited clear progression within their career. Judge Business School is AMBA- and EQUIS-accredited
4. SDA Bocconi School of Management, Milan, Italy
5-Year MBA Gain: $143,700
Pre-MBA Salary: $66,000
2014 Salary: $160,000
While the program is taught entirely in English, students must take one month of Italian as soon as they arrive. The program has around 100 students and the curriculum is described as “practical and innovative, catering to the realities of the marketplace by encouraging students to go beyond conventional business models through creative thinking and responsible problem-solving.” SDA Bocconi School of Management is AACSB-accredited.
5. IE Business School, Madrid, Spain
5-Year MBA Gain: $127,200
Pre-MBA Salary: $70,000
2014 Salary: $175,000
Ninety-two percent of MBA graduates of the class of 2014 had jobs within three months after graduation. The school says it’s MBA “works like a hothouse: an environment tailored to the needs of individuals to accelerate their personal growth.” IE Business School is AACSB-accredited.
6. Cranfield University, Cranfield School of Management, Cranfield, UK
5-Year MBA Gain: $125,500
Pre-MBA Salary: $60,000
2014 Salary: $135,000
The Cranfield MBA is a “general management program with a focus on practical real-world learning and leadership development.” Students are assigned an executive coach and they must complete an international business assignment that may take them to developing countries such as Cambodia and Uganda. The program takes 13 months to complete, full-time, and it is designed for professionals with at least three years’ work experience. Cranfield University and Cranfield School of Management are AACSB-accredited.
7. University of Oxford, Said Business School, Oxford, UK
5-Year MBA Gain: $95,000
Pre-MBA Salary: $64,000
2014 Salary: $150,000
The one-year MBA program at Oxford “comprises an intensive series of stimulating lectures, energetic seminars, intensive small group work, and team project work. A key aim of the program is to develop your ability to think logically, laterally and independently,” something that can “take you anywhere in the world.” The student body represents 54 countries and both the Oxford MBA and Said Business School are accredited by the Association of MBAs (AMBA) and EQUIS.
8. University of Warwick, Warwick Business School (WBS), Coventry and London, England
5-Year MBA Gain: $91,700
Pre-MBA Salary: $51,000
2014 Salary: $121,000
Warwick Business School is home to around 2,000 students from more than 100 countries. The program offers at least three opportunities to work on client-based projects and with companies such as Virgin, IBM and Jaguar Land Rover. The school says that companies such as PepsiCo, Goldman Sachs, and Citibank visit the school to recruit graduates directly. Warwick Business School is AACSB-accredited.
9. Lancaster University Management School, Lancaster, London UK
5-Year MBA Gain: $76,700
Pre-MBA Salary: $38,000
2014 Salary: $95,000
The Lancaster University Management School MBA is designed for managers and professionals interested in a significant career Change. The program accepts no more than 50 students and it takes 12 months to complete. The school says it’s “highly diverse cohort” typically represents more than 15 different ethnicities, “with backgrounds as diverse as the fine arts and nuclear engineering.” Lancaster University Management School is AACSB-accredited
10. SP Jain Institute of Management & Research (SPJIMR), Mumbai, India
5-Year MBA Gain: $51,800
Pre-MBA Salary: $12,000
2014 Salary: $57,000
The SP Jain Institute of Management & Research (SPJIMR) MBA offers a “constantly updated” three-week International Immersion module with a tailored curriculum that provides the opportunity to pursue advanced courses in a chosen area of super specialization such as Information Management, Marketing, Operations or Finance. With an acceptance rate of just 8.7%, SPJIMR has locations in Sydney, Dubai and Singapore. The MBA program is approved by the All India Council of Technical Education (AICTE) and it is accredited by the Association of MBAs (AMBA), UK and the National Board of Accreditation (NBA).
Please note that all program information was obtained from each schools official website. All information was accurate at the time this article was published.
"AACSB International." AACSB Accredited Schools Listing. AACSB International, n.d. Web. 05 Aug. 2016.
Baron, Ethan. "The Cost of an MBA in Europe Has Plummeted, Thanks to a Strong Dollar." Fortune. Fortune Inc., 26 May 2015. Web. 05 Aug. 2016.
Settimi, Christina. "Insead Ranks As The Top International One-Year MBA Program." Forbes. Forbes Magazine, 09 Sept. 2015. Web. 05 Aug. 2016.
"The Best International 1-year MBA Programs." Forbes. Forbes Magazine, 2016. Web. 05 Aug. 2016.