London Business School
There are several excellent MBA programs outside North America. European Business schools such as London Business School in the UK, IMD in Switzerland, INSEAD in France, ESADE in Spain, and RSM Erasmus in the Netherlands immediately come to mind as some of the top ranked MBA programs in the world. Although the US remains by far the primary center for MBA study (about 83% of all the GMAT score reports worldwide are sent to US-based business schools based on the GMAC’s 07 data), Europeans are increasingly choosing to study in Europe outside of their home country while Americans also start to take a serious look at schools across the Atlantic. This tendency, however, has been balanced by Asians who overwhelmingly choose to study in the US.
Why then are more students now choosing to pursue their management education abroad in a different country in Europe? Many factors contribute to this trend, such as an interest in working internationally, an interest in a particular country, the desire to learn another language or to experience a different academic atmosphere. We also listed out some crucial benefits below.
Yet, studying abroad does entail certain challenges, and some candidates are more prepared to succeed in a different cultural context as a result of their personality and professional or academic background.
Factors to Consider – Pros
· Shorter Program: European programs move at a faster pace. They are generally 1-year long, so you need to be prepared to jump right into academic work. IMD, generally ranked as the #1 program in Europe, is a rigorous 11-month program in which students do not have the opportunity to pursue an internship. So you need to be a bit more focused in terms of post-MBA goals and career pursuits.
· More Experienced Classmates: Another important consideration in terms of matching your background with European programs is that the average student age and years of professional experience is higher at European schools than in US schools. Older candidates tend to find this attractive, while younger ones may feel slightly out of place or experience increased difficulty gaining admission.
In our research about full-tuition scholarship at business schools outside of the US, we found that quite a number of business schools offer partial tuition scholarships that also significantly cut the costs of a management education. We couldn’t keep this information to ourselves!
London Business School – London, England
Number of partial scholarships available: Over 30 different scholarships
Average class size for full-time MBA program: about 205
How to apply: Some are awarded solely on consideration of the original MBA application. Others require submission of additional material. Many scholarships are based on the candidate’s country of origin. A number of scholarships are available solely to female candidates.
Lancaster University Management School – Lancaster, England
Number of partial scholarships available: 3 different types
Average class size for full-time MBA program: about 40-50
How to apply: Only awarded to candidates who have been awarded a place in the program with the submission of general application and evidence of exceptional leadership qualities. One particular scholarship is designed for German-speaking students and sponsored exclusively for members of the German website e-fellows.net.
IESE Business School, University of Navarra – Campuses in Barcelona and Madrid, Spain
Number of partial scholarships available: about 15 different types of scholarships, 1 of them is awarded to 20-30 students per year
Average class size for full-time MBA program: about 215
How to apply: No separate scholarship application is required although some scholarships are awarded to strictly to female candidates, candidates from developing countries, or candidates from Asian countries.
INSEAD - Fontainebleau, France
Number of partial scholarships available: about 45 different types of scholarships
Average class size for full-time MBA program: 830
How to apply: For most of the scholarships, no separate scholarship application is required. Some are based on merit and some based on financial need.
Copenhagen Business School – Copenhagen, Denmark
Number of partial scholarships available: 18 scholarships for students from outside the EU/EEA
Average class size for full-time MBA program: about 40
How to apply: No separate application or additional materials necessary to be eligible. Students receiving a scholarship may not receive a scholarship from their home country or be entitled to a state education grant or any other public support in Denmark.
International Institute of Management and Development (IMD) – Lausanne, Switzerland
Number of partial scholarships available: 7
Average class size for full-time MBA program: 90
How to apply: Accepted candidates for the program are considered for most of the scholarships.
Like many business schools, London Business School (LBS) is receiving an increasing number of applications for the 2008-2009 school year. Applicants to LBS recognize the advantages of studying in London, a center of world finance and business, and many are interested in not only learning from a highly knowledgeable faculty, but also surrounding themselves with students who have significant professional experience. The LBS program lasts between 15 and 21 months, during which time the school offers a broad range of academic and professional opportunities.
For applicants to LBS, it is important to consider that LBS places a great deal of weight on work experience. Getting in to LBS without any significant work experience, e.g. straight from college, is quite unlikely. It seems from a recent chat on Business Week with David Simpson of the Admissions team at LBS that 2 years is almost a minimum for admitted students. One reason for this is that LBS is interested in business people who have not only worked for companies, but also led teams or managed projects. These students then have their own valuable experiences to share in the classroom so that they can learn from each other’s past successes and stumbles. Since gaining such insights takes time, LBS generally admits students with around five years of work experience. When they evaluate applicants, their number one interest is to develop an understanding of what the applicant has done professionally beyond academics and extracurricular activities. Therefore, those applying to LBS should have a solid base of professional experiences to drawn on and to delineate in their application.
However, work alone is not the only key to LBS admission. The school also seeks high GMAT scores, a median of 690, and strives for diverse international representation in each class.
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