The Financial Times Global MBA Ranking 2016 is out! A very exciting time in the MBA world both for candidates and business school administrations. As we all know, rankings continue to play a crucial role in any candidate’s decision making process. There are various organizations who publish their own rankings; however it is quite well-known that one of the most reputable ranking is the Financial Times (FT) Global MBA rankings.
Why is this ranking well respected?
What makes the FT rankings solid is the strict entry protocol. For schools to be evaluated, they need to meet the entry criteria and they have to be internationally accredited. For instance; for a school to be ranked, at least 20% of its alumni must respond to the FT survey with at least 20 fully completed answers. If you’re curious about the methodology, please check the Financial Times website for further details.
What business schools climbed up the rankings?
For the first time ever, a European school Insead has overtaken top US b-schools and is ranked number 1 in the world (Great news for our students who are now studying at Insead!!!)
It’s an amazing accomplishment for a one-year, non-US MBA program to climb up the rankings, leave the very well-known traditional two-year MBA programs behind, and own the very first spot! When we look at the top five, the top three American business schools – Harvard, Wharton and Stanford, and two from Europe – London Business School and Insead – consistently rank well.
This is a clear indicator that the MBA education has become a truly global experience; the MBA was invented in the US but the competition has become global. The rest of the ranking is also quite interesting. We see business schools from all over the world: from China to Singapore, from Italy to Spain. Insead with its two campuses in France and Singapore promotes diversity better than no one else in the game. The school takes pride in having an international student body and its unique campuses. Surely, it is not as old as Harvard but with its 58 years of history, the school is a strong contributor to the world of graduate business education.
What about Canada?
The US has always been the go-to destination for many international candidates. There are great schools and the list of employers hiring from the top business schools is quite impressive. Canada has also been a popular destination for a lot of international candidates due to its proximity to the US and its friendly immigration policies. For candidates who are looking for good education and work/life balance, Canada is definitely a good choice. For years, everyone has been talking about the bad economy in Europe and how business school graduates struggle to find employment.
What’s unique about European Schools?
However, European business schools have been offering something very unique and convenient: the one-year MBA programs. For many candidates who already have well-paying jobs, the opportunity cost of pursuing an MBA is high. To address the needs of these candidates, European business schools came up with a one-year MBA program format that offered candidates the flexibility to take a year off, get their MBAs and go back to the workforce immediately after.
Naturally, one wouldn’t go to another country to pursue an MBA to simply lock themselves up in a campus library! MBA degree is an intensive “work hard, play hard” experience. What better place to do the MBA than Europe with its endless travelling opportunities and the diversity in the classrooms – a great way to gain a truly global exposure.
What does this mean to me?
It’s too early to judge whether European schools will take over all top spots from their American counterparts, however it’s fair to say that they will remain a strong competition. With European schools climbing up the rankings higher and higher every year, admission into these schools gets more and more competitive. However, it’s all worth it – what better way to make an investment than to pick something that’s growing in value!
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