MBA in Europe Graduates are Better Equipped to Handle the Global Recession

Maria Kounturi, Head of Admissions at Global Business School Barcelona, on the advantages of MBA in Europe and hidden gems within European business schools. 

Although it is not surprising that the number of applications to MBA programs has increased worldwide over the five past years, answering the question of why applicants choose MBA in Europe is somewhat more complicated. The increased number of MBA applications is attributed to the economic climate of recent years. Many people who were forced to look for a job are considering getting an MBA instead hoping that they will emerge more employable and in a more favourable market in one to two years. Yet, the explanation of why the U.S. business schools receive less applications needs a more thorough understanding of the kind of people who apply for MBA nowadays and the type of business education they are looking for.

The first factor explaining the attractiveness of MBA in Europe is again the negative economic climate. The availability of jobs and contacts is the question number one for future MBA students. European business schools are better prepared to face this particular economic crisis because they have a wider net of contacts with employers, having established relationships with recruiters from a variety of industries. In contrast, the majority of MBA programs in the U.S. have traditionally focused primarily on investment banking and consulting, with over 40 percent of MBA graduates finding their jobs after the MBA within these two industries, and therefore experienced a tremendous drop-off in recruiting over the past few years. Compare it to MBA in Europe graduates, three quarters of whom, according to The Times, got a job within a few months of graduating.

Then there is the simple fact that MBA in Europe tends to be shorter in length. Length-wise, a European program lasts usually one academic year, as opposed to two for an MBA in the U.S. Of course, since the curriculum in both is actually very similar, MBA students in Europe have to work significantly harder in a one-year program. However, this is compensated by the fact that being away from the workplace for a shorter period of time is highly valued by the employers, which is again so important in the sickly economic climate.

Last but not least, there is the question of how to pick an MBA in Europe. For many students rankings seem a good place to start. Big attention to rankings can also be partly explained by the consequences of the global economic downturn which provoked a growing conservatism among many prospective MBA students. Concerned about getting the best return on their educational investment, many MBA candidates have taken what they see as the safe option and opted for one of the big-name brands in business education.

But, precisely because many MBA applicants focus on the big names, a lot of high-quality, excellent and innovative programs go unnoticed. These MBA programs are in a way hidden gems which stand out because they specialize in one way or another. If some of you have a very specific idea of what you want out of your MBA, you may want to consider one of these programs. Business schools offering this kind of MBA in Europe thrive because they have set themselves apart from the competition. They therefore benefit from providing you with specific preparation even if their “name” will not be as easily recognized.

As an example – Global Business School Barcelona – that boosts flexible MBA program in which students can start their studies in October, January or April. The program features environmental, social and governance issues and has been the first MBA in Europe listed within the sustainability schools.

To summarize, the trend in favour of MBA in Europe is far from unwarranted. There are several good reasons to go for a business school in Europe. Any given MBA in Europe will offer a very different experience than an American counterpart.