If you’re interested in a career in business, the best option is to enroll in one of Europe’s top business schools. Colloquially, they are often called “b-schools” or “biz schools.” They offer education in fields related to business, such as economics, finance, and management. Business schools are an excellent choice for anyone who wants to work abroad and gain experience in an international environment. Studying at such a business school will open many doors for you, and during your studies you will acquire practical skills that will make you highly competitive in the highest-paid segments of the job market.
1. Key Features of the Best Business Schools
1.1. International Environment
As you may already know, the best business schools are those with international academic accreditations. Many of these schools have campuses in multiple countries. For example, ESCP Business School has campuses in France, Germany, Italy, Poland, Spain, and the United Kingdom, while ESSEC Business School has campuses in France, Singapore, and Morocco. Thanks to their global presence, they are recognized and highly valued internationally, attracting students from all over the world. At an average business school of this type, students come from over 100 different countries, and 98% of them speak two or more languages. At such schools, you will have opportunities for exchanges and visits to other campuses as part of your studies, as well as at least one semester at a partner university.
1.2. Public and Private Business Schools
Public business schools are funded by national governments, and tuition fees depend on students’ nationality (students from EU/EEA countries typically pay lower tuition fees if the school is located within the EU/EEA). Private business schools are funded through tuition fees and various foundations, so their tuition is generally higher, and there is usually no difference between fees for EU/EEA students and international students. Since these are top business schools, competition for admission is high in both public and private institutions.
1.3. Programs in English
These business schools are highly accessible to students worldwide because, regardless of whether they are located in France, Spain, Poland, Singapore, Morocco, or Germany, all teaching and group work are conducted in English.
1.4. Organization of Study Programs
In private business schools, students work in smaller groups, which allows them to absorb and apply knowledge more quickly and effectively, while also fostering a sense of connection with peers. They often complete assignments in small teams with familiar colleagues and can easily ask questions and receive quick responses from professors or administrative staff.
On the other hand, public business schools may have up to 200 students in a lecture hall, making it more difficult to organize smaller groups where professors can engage more personally with each student. Regardless of whether a school is public or private, universities strive to create heterogeneous study groups composed of students from diverse backgrounds.
Most business schools are quite flexible and offer online study options—whether students attend on-site or follow lectures remotely. Each format has its pros and cons, so it’s important to consider which suits your priorities best.
1.5. Experiential Learning
Top schools are recognized for offering excellent opportunities for students to apply their knowledge and skills, receive expert mentorship, and get timely, high-quality feedback.
Learning through case studies and a pragmatic approach has proven to be highly effective. The best business schools allocate their resources well and provide a wide range of tools, programs, projects, and workshops that support skill development.
1.6. Networking
High-quality business schools create numerous opportunities for students to connect with industries, companies, and teams through internships, career fairs, and similar events. This significantly increases students’ chances of employment. Between 50% and 93% of students secure jobs through programs offered by the school itself.
1.7. Building Your Professional Profile
Business schools of this caliber are dedicated to helping students grow and develop into the best version of themselves for the job market. This process is strongly supported by opportunities such as student exchanges, internships, and professional development with top companies in the field.
1.8. Faculty Excellence
Faculty members are top experts in their fields, whether academics, entrepreneurs, consultants, or business leaders involved in delivering study programs. It is important to maintain a balance between academic professors and industry professionals so that students gain both strong theoretical knowledge and practical skills.
1.9. Rankings and the Value of a Degree
The best business schools in Europe and globally have undergone rigorous evaluation and are ranked based on the quality they provide. You can check the Financial Times business school rankings for 2023 for more information.
Beyond the prestige of their name—which itself opens doors—a degree from these schools represents broad knowledge and an excellent stepping stone for a future career. Additionally, each of these institutions boasts a strong alumni network that actively supports members throughout their careers.
2. Application process
Since many students want to enroll in these top business schools and competition is fierce, whether for undergraduate or graduate studies, we have outlined several steps to help make the application process easier. Although most schools do not have a strict quota (numerus clausus), we cannot stress enough how important it is to take the rigor of the selection process seriously. Some steps in the application process are the same regardless of the level of study, but for clarity, we have separated the two processes.
2.1. Undergraduate admissions (BA, BSc)
2.1.1. Carefully review application deadlines and admission requirements for each specific program
When it comes to deadlines, it is strongly recommended to apply as early as possible because at many schools 90–95% of places are filled by the end of the second round, leaving only 5–10% for the final round.
Many schools have multiple application rounds and multi-stage selection processes, so it is important to research the requirements for each program thoroughly and on time. Carefully review program websites, download brochures, explore social media for insights into partnerships and student life, and contact administrative staff if something is unclear or if you are unsure how requirements apply to you as a student coming from Croatia.
Typical first-round requirements include:
- completing the application form
- submitting transcripts from the second and third year of high school and the GPA from those years
- submitting a CV, recommendations, and a motivation letter
- submitting a recognized English language certificate (IELTS, TOEFL, etc.)
- submitting results from the school’s entrance exam (e.g. Bocconi, ESADE Barcelona, and IE have their own tests) or SAT/ACT results
If you pass this stage, you will be invited to a selection interview (one-on-one video interviews and personality assessment interviews).
Keep in mind that some schools, such as ESCP Europe, initially shortlist candidates based on only a few criteria and allow only selected candidates to take the entrance exam.
2.1.2. Research scholarships, financial support, accommodation, and other specifics
Each program and school competes by offering different services and extracurricular opportunities. Even if a business school has multiple campuses, consider geographical, cultural, and climate differences—it is not the same to study in Italy and Poland, let alone Singapore or Morocco. Make sure to carefully review all related information.
2.1.3. Start gathering application documents early
Test results must be submitted by the application deadline, meaning SAT/ACT/LNAT or entrance exams must be completed before the chosen round. Learn about each test and choose the one that best suits your strengths. Once submitted, your application cannot be changed or updated with new test results.
The motivation letter is the only part of the application that is not numerical, so it is crucial to write it well and present yourself in the best possible light. The CV should also be carefully prepared. Most importantly, start early and prepare thoroughly for the required tests.
Selection is not based solely on academic performance, so think about how to strengthen your application and clearly explain why you are a strong candidate.
2.1.4. Prepare thoroughly for the interview
If you pass the first round, you will be invited to an interview with the admissions committee (sometimes called the Jury). There are different types of interviews, so it is important to understand the format and prepare accordingly.
Study the program pages, attend webinars, ask Student Ambassadors what questions to expect, and review all materials provided by the school. Some schools will send preparation guides and technical instructions—read them carefully.
Prepare in advance how you will present yourself and articulate your goals. Interviews can be stressful and short, so it is essential to practice both content and delivery. Seek mentor support if needed.
2.2. Graduate admissions (MA, MSc, MBA)
2.2.1. Review deadlines and requirements for each program
Again, apply early as most places are filled by the second round. Many schools have multiple rounds and multi-stage processes, so thorough and timely research is essential.
Typical requirements include:
- completing the application form
- submitting a bachelor’s degree or transcript
- submitting a CV, recommendations, and a motivation letter
- submitting GMAT/GRE or school entrance exam results
- submitting an English certificate (IELTS, TOEFL, etc.; additional languages can be an advantage)
- for MBA programs, having at least 3 years of full-time work experience and proof of professional background
2.2.2. Research scholarships, financial support, and other specifics
Programs differ widely in what they offer. Consider campus location and differences between studying in various countries. Review all relevant information carefully.
2.2.3. Prepare documents early
GRE/GMAT or entrance exams must be completed before deadlines. Choose the best option based on your strengths. Results cannot be changed after submission.
The motivation letter is critical for presenting both your academic and professional experience. The CV must also be carefully prepared. Early preparation and strong test results are essential.
Graduate programs expect students who can think critically and contribute proactively. Practical experience and theoretical knowledge are both important.
MBA programs often include candidates with 3 to 15 years of experience from diverse backgrounds (banking, consulting, medicine, military, sports), as diversity enhances learning.
2.2.4. Prepare for the interview
The process is similar to undergraduate interviews. Study materials, attend webinars, and prepare thoroughly. Practice your presentation and seek support if needed.
Top European business schools
1. HEC Paris
Founded in 1881 in Paris, it promotes academic excellence, strong community, and diversity. It is ranked as one of the best business schools globally and offers undergraduate, master’s, doctoral, MBA, summer, and online programs. 50% of students secure jobs before graduation. Admission is highly competitive.
2. IE Business School
Founded in 1970 in Madrid, it offers undergraduate, graduate, MBA, and dual programs. Known for its hybrid learning approach combining cognitive and emotional learning, it prepares adaptable professionals for the job market.
3. Bocconi University
Based in Milan, it is one of the top-ranked universities globally. It offers undergraduate and graduate programs, as well as specialized master’s, doctoral programs, and summer schools. It attracts many international students and is more affordable than top UK and US universities.
4. EU Business School
Founded in 1973, with campuses in Barcelona, Geneva, Montreux, and Munich. It offers undergraduate, master’s, and online programs, with strong international exchange opportunities. 93% of students receive job offers within six months.
5. ESCP Business School
Founded in 1819, one of the oldest business schools. It has campuses across Europe and offers a wide range of programs.
6. ESADE Barcelona
Founded in 1954, known for developing ethical entrepreneurs. It is part of the ESADE Creapolis innovation hub.
7. Frankfurt School of Finance & Management
Founded in 1957, known for strong research focus and international career opportunities.
8. KEDGE Business School
Founded in 2013 through a merger of two schools, with campuses worldwide. It has triple accreditation and strong industry partnerships.
Sources:
1. Euronews; accessed on 17 March 2024.
2. https://rankings.ft.com/rankings/2954/european-business-school-rankings-2023; accessed on 13 March 2024.
3. https://yourdreamschool.fr/en/how-to-get-in-to-the-best-european-business-schools-for-your-bachelors-degree-ie-esade-bocconi-escp-europe/; accessed on 10 March 2024.
