Top 10 MBA Programs in Latin America 2020 |

Top 10 MBA Programs in Latin America 2020

By Niamh O

Updated April 13, 2021 Updated April 13, 2021

The QS Global MBA Rankings 2020 have been released today, ranking business schools from around the world. The rankings are also split up into regions: Asia, Europe, Canada, Oceania, Latin America, and the US.

MBA programs were ranked based on the indicators of employability, entrepreneurship and alumni outcomes, return on investment, thought leadership, and diversity. You can find out more about the methodology used to produce the rankings here.

The top 10 business schools in the Latin American MBA Rankings 2020 are:

                                                                                                                                                                                              QS Global MBA Rankings 2020: Top MBA Programs in Latin America

Latin American Rank

Global Rank

Business School




EGADE Business School




INCAE Business School

Costa Rica



ESAN University








Universidad de Palermo (UP)




Universidad de Chile




IAE Business School, Universidad Austral




CENTRUM Catolica Business School




Universidad EAFIT




FIA Business School



10) FIA Business School

  • Tuition: US$25,000
  • Students in class: 50
  • Percentage of female students: 32
  • Percentage of international students: 26

FIA Business School’s MBA program is 18 months in duration, with 14 specialized MBA programs available in Retail, Hotels, Fairs and Events; Human Resources; Corporate Management, and more.

The business school has partnerships with institutions in Europe, Asia and the US, allowing students to attend international modules around the globe. Classes are taught in English and are supplemented with lectures and company visits.

9) Universidad EAFIT

Universidad EAFIT by LiNaMon's via Flickr

  • Tuition: US$20,108
  • Students in class: 104
  • Percentage of female students: 38
  • Percentage of international students: 4

The 18-month program at Universidad EAFIT has been taught since 1973, proving to be a pioneer in Colombian higher education.

Over three semesters, students will undertake face-to-face classes every two weeks. There is high emphasis on experiential learning, as well as continuous support across the program’s virtual activities.  

The course promotes an international approach, with international speakers, English courses, and an international internship. Students can also undertake a dual degree with further international courses available.

8) CENTRUM Catolica Business School

CENTRUM Católica by Axxgreazz via Wikimedia Commons

  • Tuition: US$13,582
  • Students in class: 37
  • Percentage of female students: 22
  • Percentage of international students: 3

CENTRUM’s 13-month MBA program curriculum is taught in Spanish.

The CENTRUM MBA wants to develop students’ strategic and global vision within business, ensuring their leadership style retains an ethical and social commitment perspective.

CENTRUM’s MBA program methodology highlights the importance of the case method. Students will take a two-week trip to Barcelona to take intensive classes for eight days at the EADA Leadership Development Center in Collbató.

7) IAE Business School

IAE Business School by Universidad Austral via Wikimedia Commons

  • Tuition: US$28,000
  • Students in class: 34
  • Percentage of female students: 45
  • Percentage of international students: 32

The first modules on the 10.5-month IAE MBA gives you the basic tools for management through three sets of fundamentals. Students also have a choice of 19 electives to specialize their MBA program.

IAE MBA students can also enrich their experience through the exchange program with business schools in Europe, the US and Latin America.

You could study at: emlyon Business School; IESE Business School; University of Virginia Darden School of Business; McDonough School of Business, and more.

6) Universidad de Chile

  • Tuition: US$25,000
  • Students in class: 15
  • Percentage of female students: 33
  • Percentage of international students: 80

The 12-month UChile MBA covers six management areas: Economics and Quantitative Methods; Finance and Accounting; Marketing; Operations and Technology; People and Managerial Skills; Strategy

Courses are held Monday through Friday in afternoons and evenings, similarly, Management Skills Workshops are held across 10 Saturdays.

International exchange options are also available in France (ESCP Europe Business School); Germany; Mexico; Canada (Sauder School of Business).

5) Universidad de Palermo

  • Tuition: US$14,400
  • Students in class: 101
  • Percentage of female students: 55
  • Percentage of international students: 66

Palermo’s 18-month MBA program includes 16 courses under the umbrellas of Core General Management; Orientations; Capstone: Closing Courses. Similarly, students will undergo 40 hours of workshops and undertake a thesis.

To complete the program in 18 months, students will attend class two/three times a week.

Students have the option to undertake an intensive exchange with NYU Stern School of Business for five to six weeks; or, complete the Entrepreneurship program exchange at Babson College, F.W. Olin Graduate School of Business in the second year.

4) Instituto Panamericano de Alta Dirección de Empresa (IPADE)

  • Tuition: US$48,054
  • Students in class: 134
  • Percentage of female students: 36
  • Percentage of international students: 29

During the 22-month MBA program at IPADE, you will undertake a business simulation, and go on study trips to learn about global business culture.

Students can also take part in the International Week, learning alongside MBA students from top business schools during a weeklong intensive on how to do business in Mexico.

The Global Case Competition gives students the opportunity to work with a multicultural team to solve a business case, judged by representative from Deloitte and Novartis.

3)  ESAN

  • Tuition: US$20,000
  • Students in class: 24
  • Percentage of female students: 38
  • Percentage of international students: 19

ESAN’s 14-month MBA program consists of the general courses, electives (a total of four, of which at least two must be completed in English), a thesis seminar to develop an Applied Research Thesis or Business Plan, and finally a specialization.

Students can choose from a specialization in Entrepreneurship and Innovation; Digital Marketing; Advanced Project Management to name a few.

Graduates will be a part of a network of more than 4,500 professionals in Peru and Latin America.

2) INCAE Business School

INCAE Business School by randreu via Wikimedia Commons

  • Tuition: US$57,973
  • Students in class: 39
  • Percentage of female students: 46
  • Percentage of international students: 51

INCAE’s 15-month MBA Latin American Leadership program is mainly taught in Spanish with some electives in English.  

The Management Consulting Project (MCP) is a fundamental program requirement, dealing with strategic issues faced by management in organizations. Considered one of the most enriching experiences on the program, it is a valuable networking opportunity between students and potential employers.

Student organizations include the MBA Oath Club; Leadership and Diversity Club; Strategy and Consulting Club; INCAE Investment Club.

1) EGADE Business School

EGADE Business School by Alex Ruiz via Flickr/Wikimedia Commons

  • Tuition: US$50,000
  • Students in class: 22
  • Percentage of female students: 41
  • Percentage of international students: 30

Retaining its number one spot for the Latin American region is EGADE’s 12-month MBA program.

Here, you can take advantage of exclusive agreements with more than 50 international programs at global partner institutions.

Each summer there is the intensive EGADE MBA National Meeting where MBAs past and present meet for an academic and professional experience. With this in mind, it’s no wonder EGADE earned the highest score for our employability and entrepreneurship & alumni outcomes for the region.

This article was originally published in September 2019 . It was last updated in April 2021

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Written by

Niamh is Deputy Head of Content at QS (;, creating and editing content for an international student audience. Having gained her journalism qualification at the Press Association, London and since written for different international publications, she's now enjoying telling the stories of students, alumni, faculty, entrepreneurs and organizations from across the globe.  

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