Not sure if you’re aware, but there are b-schools outside of the US, friends. And good ones, at that! Programs that are absolutely worth lookin’ into. In fact, for many of you, European MBA programs might even be better than the typical 2-year MBA programs we have here in the states (especially this late in the application game).
Why? I’ll give you 5 great reasons:
1) Admissions Can Be Less Competitive (in Some Ways)
Look at the stats, my friends. Average GMAT scores tend to be…LOWER. Average TOEFL scores tend to be… LOWER. Even with GPAs, there is more flexibility here. Why is that? Well, lots of reasons. Most relevant is the fact that most folks are often not native US speakers. So as a result, you can afford juuust a bit more leeway on your scores. That should be a relief for lots of folks in the GMAT of 660-710 range…
2) They Tend to Have Older Applicants
If you are a tad older than the typical 3-4-5 years out of college range of applicants, then you should take a GOOD look at these programs. Why? Because European programs tend to have older students. This is a GREAT chance for older candidates to get a TOP-NOTCH education, and not be discriminated against by the current trend in the US of students getting younger and younger…
3) They are 1-Year Programs
Why do older applicants like International programs? Well, here’s one great reason: the programs are shorter! For the young husbands and fathers among us, we can’t necessarily afford to take two WHOLE years off. In those two years, we lose a ton of income and TIME. European MBA programs tend to be just one year long, so older applicants LOVE the ability to get in, and get right out.
4) They have an International Focus
Is your goal NOT necessarily to live and work in the US? Then…why bother going to the US to get your MBA? The programs in Europe tend to be MUCH more internationally oriented, with the overwhelming majority of students from OUTSIDE the school’s country. This lends itself to a very different kind of discussion, as you can imagine, than that which happens in the US programs. European (and Asian) MBA programs are MUCH more international in nature. If you are passionate about international business, then give these programs a GOOD look!
5) Many Have STELLAR Job Placement
That’s right, folks. Take a good look at the statistics; starting salaries are often HIGHER at European Programs than at US programs. Don’t believe me? Here’s an example: the average starting salary at LBS was $146,000, at INSEAD it was $148,000, and at IE it was $149,000. All these salaries are higher than the starting salaries at NYU Stern ($139,000), Duke ($137,000) and Ross ($137,000). So, as always my friends, investigate the facts before you assume that US programs will get you to a better place upon graduation…
Considering a 1-year jaunt in Europe? Check our our b-school cheat sheets for more information on European MBA programs!