Europe now hosts an array of top MBA programs and is challenging the hegemony of US business schools with a different teaching style and, generally, one-year programs. Europe’s oldest business school, INSEAD, opened its doors to the first intake of students in 1957 and was followed by the establishment of London Business School and Manchester Business School in 1964. After a relatively slow adoption of MBA studies in Europe for the first 40 years post-Second World War, the last 20 years have seen an explosion in the number of schools and the continent now hosts MBA programs in practically all of its countries.

The key, according to the continent’s professional recruitment companies, seems to be the production of graduates who have solid pre-school experience and who can hit the ground running with their new employer. “As markets in Europe get tougher, organizations are looking for immediate results,” says Graeme Read, Group Managing Director at global recruiter, Antal International. “That requires candidates who have a track record of achievement in their field. An MBA is highly valued, but not if it’s all an individual has to offer.”

In 2008 INSEAD and London Business School remain the first choice business schools amongst international employers and receive as much or more interest than their leading US counterparts. Spanish schools also feature very prominently with ESADE, IESE and IE Business School all appearing within the cluster of 11 European schools achieving more than 40 employer votes in 2008. They are joined by Oxford, IMD, HEC Paris, SDA Bocconi, RSM and Cranfield.

The next cluster of European schools all exceeding 20 employer votes includes: Cambridge, Warwick, Manchester, ESSEC, ESCP-EAP, Athens University of Economics and Business (a big riser in 2008), Imperial, Cass, and MIP Politecnico di Milano. These schools have all established a strong franchise with European-based recruiters, though have achieved less recognition in Asia or North America, compared to the schools above them.

The next cluster of European schools achieve between 11 and 20 employer votes and includes: Alba (another big riser in 2008), EM Lyon, HEC Lausanne, St Gallen, Sciences Po, Edinburgh Business School, Copenhagen, Ashridge, Stockholm School of Economics (dropping down the table since it ceased offering an international full-time MBA), Vlerick Leuven Gent, Edhec, Amsterdam Business School, Lancaster, Mannheim, Warsaw, Henley, WHU, CEU and ESMT.

British business schools always feature prominently amongst employer choices and 2008 was no exception. Within the top-200 schools are featured no less than 21 UK schools: LBS, Oxford, Cranfield, Warwick, Cambridge, Manchester, Imperial, Cass, Edinburgh Business School, Henley, Ashridge, LSBF, Lancaster, Bradford, Bath, Aston, Strathclyde, Durham, Nottingham, Glasgow and University of Edinburgh.

French schools are well represented amongst the top European schools with INSEAD, HEC Paris, ESCP-EAP, ESSEC doing particularly well, followed by EM Lyon, Edhec, Grenoble, Audencia, Aerospace Toulouse also featuring within the Top 200. Of these, ESCP-EAP has shown the largest position improvement, up from 39th in Europe two years ago to 15th this year.

German and Swiss business schools are also increasingly popular with employers. In Switzerland, IMD always features amongst the top 10 European schools, while University of St Gallen has been rising steadily and is joined by HEC Lausanne in scoring over 10 employer votes, whilst business school Lausanne and Geneva also make the Top 200. German business schools have developed a growing following of employers, although these schools are relatively young and still proving their credentials to many employers. The German schools which featured in the Top 200 this year include ESMT, EBS, Mannheim, WHU, Leipzig and GISMA.

Employers’ 10 preferred business schools in Europe are: INSEAD, London Business School, IESE, Oxford, IMD, ESADE, SDA Bocconi, IE Business School, HEC, RSM.

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