Outside the world’s top-ranked business schools, the traditional two-year MBA program is in a state of decline.
According to the Graduate Management Admission Council (GMAC), over half of US business schools experienced a downturn in application numbers this year.
While two-year MBA programs in the US suffer, cheaper, one-year European MBA programs are on the rise. In Europe, MBA classes are generally smaller and more international than their US counterparts.
And while the big European business schools can still be expensive, there are plenty of more affordable alternatives to choose from.
Here’s 12 European MBA programs you need to know about:
1. Nyenrode Business Universiteit, the Netherlands, $42,000
Nyenrode is located on a 13th-century estate 30 minutes drive south of Amsterdam. Its full-time MBA is focused on Europe, with immersion visits to five European capitals - Brussels, Copenhagen, Dublin, Paris and Milan – integrated into the program. The Nyenrode MBA has a 45-person class size. It’s 100% international. And 50% of Nyenrode MBA students are women.
2. Bath School of Management, UK, $42,000
Bath has just revamped its one-year MBA program to make it more customizable, experiential, and student-centric. The ancient Roman city of Bath is a UNESCO World Heritage Site. And Bath MBA students enjoy a small class size in a unique location.
The Bath MBA attracts the more experienced student. This year’s MBA class have an average of 15 years work experience between them. The class is 90% international and 43% female. 98% of Bath MBAs land jobs within six months of graduation.
3. ESCP Europe, $34,000
Founded in 1819, ESCP Europe is the world’s first business school. It has six campuses in Berlin, London, Madrid, Paris, Turin and Warsaw. Students on ESCP Europe’s brand new, one-year MBA in International Management (formerly Master in European Business) will experience one European campus as well as a study exchange at a partner school in China or India.
4. International University of Monaco (IUM), $34,000
Located in the Principality of Monaco on the French Riviera, IUM offers an intensive, 10-month full-time MBA program with specializations in finance, luxury management and entrepreneurship and innovation.
The intimate, 20-to-25-student MBA class makes for a highly personalized experience. 80% of MBA students land new jobs within three months of graduation. 25% go on to start their own businesses.
5. University of Edinburgh Business School, UK, $34,000
Edinburgh offers a 12-month full-time MBA, with the option of an international exchange.
In last year’s class, 38% of MBA students were from North America, 29% from Asia, and 24% from Europe. 88% accepted a job within three months of graduation. 24% of Edinburgh MBA alumni are managing directors.
6. Copenhagen Business School, Denmark, $45,000
The Copenhagen MBA has responsible management at its core. The MBA class is 90% international. In 2014, 80% of the MBA class stayed and found roles in Denmark after graduation; drawn by Scandinavia’s focus on sustainable business practices, flat hierarchies and work-life balance.
7. Lancaster University Management School, UK, $36,000
The Lancaster MBA is designed for students in search of a significant career change. The maximum 50-student MBA class is 98% international. Over 20 nationalities are represented each year.
94% of MBA students are employed within six months of graduation, with an average salary increase of 88%. The Lancaster MBA is ranked first in the world for corporate strategy by the Financial Times.
8. MIP Politecnico di Milano, Italy, $34,000
As one of the leading engineering universities in Italy, MIP is a popular destination for tech-savvy MBAs. The school has strong corporate links with top firms like Amazon, Microsoft and the Boston Consulting Group.
97% of MBA students find new jobs within six months of graduation. Those looking to take the leap into entrepreneurship have access to PoliHub, the school’s in-house startup incubator.
9. EU Business School, $16,000
Headquartered in Switzerland, EU Business School has campuses in Geneva, Montreux, Barcelona and Munich. The school offers a variety of one-year MBAs in specialist subjects like marketing, finance, e-business, sports management, leisure and tourism and HR.
Tuition fees range from as low as $13,000 to $16,000, depending on the campus. 39% of EU MBA grads land jobs in large multinationals. 21% start their own business.
10. Maastricht School of Management (MSM), the Netherlands, $32,000
MSM is has strong links to emerging markets. 100% of its MBA students are international. Its diverse faculty represent 40 nationalities.
The one-year, full-time MBA offers specializations in finance, sustainable business, entrepreneurship in emerging markets, public sector development. From September 2017, the ‘managing the digital economy’ specialization will include courses in cyber security, big data analytics and the Internet of Things (IoT).
11. Cranfield School of Management, UK, $45,000
Cranfield is a unique business school located on a former RAF base in eastern England. It boasts a global network of over 28,000 alumni in more than 130 countries. And its full-time MBA program is ranked among the top 60 MBA programs in the world by the Financial Times. Cranfield also offers an MBA Defense, an executive program specific for military officers and defense industry professionals.
12. Hult International Business School, London, $63,000
Hult is a global business school with a big British footprint. The school’s two central London campuses are located in the academic hub of Bloomsbury and at the heart of London’s tech startup scene.
And London-based MBAs can rotate internationally across Hult campuses in Boston, San Francisco, New York, Dubai and Shanghai.
In 2015, Hult MBA grads landed jobs at 800 companies in 60 countries, with a 130% average salary increase. 99% changed either country, industry, or location.