Why American MBAs are choosing to Study in Europe

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Although America remains the world’s top MBA study destination of choice, according to the QS TopMBA.com Applicant Survey 2015, it appears that Americans are increasingly choosing to study in Europe due to the benefits that international experience can offer.

According to this year’s GMAC research, the share of US citizens who indicated they would prefer to earn an MBA in Europe rose to 3.2% last year from 2.1% in 2010. Whereas European programs reported seeing a greater proportion of applications from US students last year; 5.1%, compared to 4.3% in 2012.

There are a number of reasons behind this shift in popularity, including international experience, tuition being lower and program time being shorter for an MBA abroad, which we have broken down for you below.

Cost of tuition

The strength of the dollar compared to the euro in recent months is likely playing in a part in many students’ decisions to cross the pond in order to earn their degree. But that’s not the only way in which an MBA in Europe is more economical for US students; tuition fees also play a paramount role in Europe’s popularity among American students.

Tuition fees are traditionally lower for MBAs outside the US. Top business schools in America, such as Stanford Business School and NYU Stern charge US$185,054 and US$103,982 respectively. Comparatively, top business schools in Britain such as Oxford Saïd and Cambridge Judge offer MBAs for $72,823 and $68,317 respectively.

For those wishing to study in Europe, but do not speak another language; fear not! In general, the MBA in Europe is almost exclusively taught in English, which is obviously a draw, and many of the top business schools in Europe can boast the same high-level of prestige as top business schools in the US.

The MBA in Europe is made cheaper still as a consequence of the shorter course duration. Full-time MBAs in the US are usually two years long, whereas in Europe they last for one year.

By condensing the course into one year, students leave the workforce for a much shorter period – reducing the opportunity cost significantly. For students who are eager to learn MBA skills as fast as possible so that they can go out and start earning again, an MBA abroad is an attractive option.

International experience

Increasingly, top MBA employers look for international experience. Even if this isn’t an essential requirement for a job it could certainly put you ahead of your competition.

If you’re American but chose to study in Europe, you are showing that you have an international business perspective and are adaptable to change. According to the QS TopMBA.com Applicant Survey 2015, Americans and Canadians are the most reluctant to pursue an MBA abroad.

Therefore, by showing your willingness and aptitude at studying an MBA abroad, you are already proving to prospective employers that you are a versatile and flexible candidate. Choosing to study in Europe also equips you with other international experience, such as: the ability to speak a foreign language (well, unless you go to UK), increased knowledge of a region’s economy and knowledge of the business practices that prevail there.