Top 10 MBA Programs in Latin America 2019 |

Top 10 MBA Programs in Latin America 2019

By Julia G

Updated December 9, 2020 Updated December 9, 2020

The QS Global MBA Rankings 2019 have been released today, ranking over 250 of the best MBA programs across the world. MBA programs worldwide 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.

Latin America is the least well-represented region in the rankings, with only 10 schools out of 252 hailing from this part of the world. However, as a region, its business school offerings are ever-increasing, and are a good option for world-class MBA teaching on a budget, as the average tuition fees of US$25,000 are well below the global average of US$55,438.

Read on as we count down the 10 top universities in Latin America for an MBA in 2019 or click here to view the full interactive table.

10) Universidad EAFIT

Universidad EAFIT

In tenth place in the Latin America rankings is Universidad EAFIT, located in Medellin, Colombia. The 24-month program has tuition fees of US$19,232. In terms of class profile, the class of 148 students has around 37 percent female students with an average age of 28. EAFIT students have an average 4 years work experience prior to starting the course.

EAFIT’s mission is to contribute to Colombia’s progress, reflected in the emphasis on research and entrepreneurship initiatives in their MBA program.

9) CENTRUM Catolica Business School

CENTRUM Catolica Business School

Ninth in the Latin America rankings is CENTRUM Catolica Business School. Located in Lima, Peru, the 12-month program has tuition fees of US$23,132. Class sizes are small, with around 29 students, of whom 41 percent are female and 10 percent are international students. The students at CENTRUM are younger than the Latin American average of 29, aged around 26 with 3 years’ work experience.

The MBA program has a strong international standing, reflected in its ‘triple crown’ accreditation by the Association to Advance Collegiate Schools of Business (AACSB), the European Foundation for Management Development (EQUIS) and the Association of MBAs (AMBA).

8) FIA Business School

The São Paulo, Brazil, based FIA Business School is eighth in the Latin America rankings. The program is 18 months in duration and has tuition fees of US$25,000. Around 36 percent of students on the program are female, and 25 percent are international.

Class sizes are small, with a maximum of 30 students permitted in a cohort, and the program is taught entirely in English, leading to an international edge. However, foreign students can take optional Portuguese language classes at no extra cost.

7) Palermo

In seventh place in Latin America is the MBA program at the Universidad de Palermo, located in Buenos Aires, Argentina. The program is 18 months long and has a very reasonable tuition fee of US$14,400. The class of around 98 students has an average age of 29, with seven years prior work experience.

Palermo’s MBA course scores highest in the region for diversity, with 55 percent of its students identifying as female, and 60 percent of the students are international (from across 17 nationalities). In addition to this student diversity, 20 percent of the MBA teaching faculty are international.


Sixth place in the Latin America rankings is taken by ESAN Graduate School of Business in Lima, Peru. The 14-month program has tuition fees of $20,000. It scores second highest in the region for return on investment, with students receiving an average salary increase of 50 percent post-graduation.

Class sizes are small, with an average of 31 students per class, of whom 46 percent are international and 38 percent are female. The average age of an ESAN MBA candidate is 31, slightly higher than the regional average of 29, and they have around 7 years of work experience. ESAN was the first Peruvian MBA program to be granted accreditation by the Association of MBAs (AMBA), in 2002.

5) Universidad de Chile

Universidad de Chile

The fifth place in the Latin American rankings is taken by the MBA program at the Universidad de Chile, based in Santiago de Chile. Tuition fees for the 12-month program are US$25,000, and it scores highest in the Latin American rankings for thought leadership.

The small class size of 24 students is diverse, with 96 percent international students and 25 female students. The international element does not just end with the class size, however, as students at the Universidad de Chile have study abroad options in a wide variety of locations, including France, Germany, Mexico, Canada, and China.

4) IAE Business School

IAE Business School

Fourth position in the Latin America table is taken by IAE Business School in Buenos Aires, Argentina. The MBA program at IAE scores highest in the Latin America rankings for return on investment and is 11 months in duration with tuition fees of US$38,000. The average age of the class is 30, with seven years work experience, and 32 percent of the class are international students, with 39 percent of the class identifying as female.

IAE have a focus on sustainability, weaving Corporate Social Responsibility (CSR) into many of their core courses. Students also put these concepts into action in consulting projects with Non-Government Organizations (NGOs).

3) IPADE Business School

Mexico’s IPADE Business School, with campuses in Mexico City and Monterrey, is third in the Latin American rankings, achieving the second highest score in employability. Their MBA program is 22 months in duration and has tuition fees of US$44,644. Of a class of 134 students, 25 percent are female, and 24 percent are international, with an average age of 28, and 5 years work experience.

Students undertake a summer internship between their first and second year, with the program including other elements such as a business simulation and a global case competition, working with a multicultural team solving a business case judged by representatives from Deloitte and Novartis.

2) INCAE Business School

INCAE Business School

Second in the Latin American rankings is INCAE Business School, located in Costa Rica (with campuses in Alajuela and Managua). The school achieved the second highest scores in the region for entrepreneurship & alumni outcomes and thought leadership. It breaks into the top 100 globally, ranked 98th in the world. The program is 15 months in duration, with tuition fees of US$57,000. Of the 84 students in the class, 78 percent are international, and 34 percent are female, with an average age of 28, and with 5 years work experience.

An impressive 20 percent of the Top 50 Latin American companies are led by INCAE alumni, which can be credited in part to the school’s commitment to helping students solve business problems in their communities in the region.

1) EGADE Business School 

EGADE Business School          

Taking the top spot in the Latin America rankings is EGADE Business School, based in Monterrey, Mexico. The MBA program at EGADE achieved the highest scores in the region for both employability and entrepreneurship & alumni outcomes. It is ranked =78th in the world, jumping six places from the 2018 rankings.

The program is 12 months in duration, with tuition fees of US$49,000. The class profile almost achieves gender parity, with 46 percent female students. Around 27 percent of the class are international students, and have an average age of 29, with nine years work experience.

There is a wide range of international study opportunities on offer, as EGADE is part of the Global Network for Advanced Management, which counts other prestigious business schools like HEC Paris, IE Business School, and the University of Oxford’s Saïd Business School as members.

This article was originally published in September 2018 . It was last updated in December 2020

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Written by

Julia is a writer for, publishing articles for business students and graduates across the world. A native Londoner, she holds an MSc in Marketing Strategy & Innovation from Cass Business School and a BA in Classical Studies & English from Newcastle University.


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