A Master of Business Administration degree is a guarantee of a great career in the fields of Finance, Marketing or Human Resources. No wonder that students every year are curious to find out the top ten Universities of the World with a great MBA program. The stalwarts of the business schools vie with each other for the rankings. The top ten keep shifting places up and down the list but otherwise the following ten business schools are the accepted leaders of the world in the field of business education.
1. London Business School
The MBA at London Business School has been elbowing out the Wharton School of University of Pennsylvania for the number one spot for the last two years and looks like it is going to hold on to this place for the year 2011. Successful candidate to this business school have a score above 700 in the GMAT. LBS as it is called is a member college of the University of London and is situated centrally in London beside Regent’s Park. A thousand students from at least a hundred and thirty countries of the world graduate from this business school every year.
2. Wharton School of the University of Pennsylvania
The number two spot goes to Wharton School which is the business school of the University of Pennsylvania. It is the first business school in the United States of America and was established in 1881. It is a very selective school in its student enrolment and depends on a high GPA and GMAT scores for its selection besides other criteria. Since 2009 it accepts the GRE along with GMAT for its admissions. The first collegiate MBA in the world was established by Joseph Wharton a Philadelphia industrialist. The Wharton School offers nineteen majors which are admirably taught by 250 members of the faculty. The concentration of subjects includes, finance, marketing, human resources, business ethics and legal studies.
3. Harvard Business School
The number three ranking goes to Harvard Business School which was established in the year 1908. Harvard is a private business school with an endowment of more than two billion dollars. It has more than eighteen hundred students in its MBA programs. It is located at Boston but is on the other side of the Charles River from the rest of the University. A very quaint feature of all the buildings at Harvard is that they are connected by underground tunnels. The attributes expected from successful Harvard MBA programs include leadership, intellectual curiosity and a concern and desire to serve the world community. Harvard is famous for its case study method of teaching in the business school.
4. Stanford University GSB
Stanford Graduate School of Business ranks fourth in the MBA list. It was established in 1925 and is located at Stanford, California. It has one of the largest endowments at more than a billion dollars. A star cast of Nobel Laureates, members of the American Academy of Arts and Sciences and National Academy of Sciences, makes up the faculty of this prestigious college. It is very selective in its system of admission for its students and has the lowest rate of acceptance in the world, that is, it only selects 6.8% of all the students who apply for its MBA. It has less than four hundred students per year, a near one fifth of the students at Harvard. Its former students include Ben Bernanke, Phil Knight founder of Nike and President John F. Kennedy.
The number five spot in MBAs goes to INSEAD (Institut Europeen d’Administration des Affaires) or European Institute of Business Administration. It is located on three campuses in the world. In Europe it is at Fontainebleau, near Paris in France. In Asia it is situated in Singapore and in the Middle East at Abu Dhabi. It is generally recognized as the top business school for the one year program in the world. The MBA offers all the core subjects like Finance, Marketing and Accounting. The program includes case studies, lectures, tutorials and simulations. The business school was established in 1957 and has nearly nine hundred MBA students every year. It is fast coming up as a threat to the top three.
6. Columbia Business School
The sixth spot goes to the Columbia Business School. It was established in 1916 in Manhattan, New York. It has close links with Wall Street. Like Stanford it has many Nobel Laureates on its faculty. Indeed it is somehow linked to thirteen winners of the Nobel Prize for Economics. A Barton Hepburn a President of the famous Chase Manhattan Bank founded the college and the MBA was authorized only in 1945 by Columbia Business School. Majors are offered in Accounting, Marketing, Finance and Economics, Human Resource Management and Social Enterprise. There is a special program in Entrepreneurship. Warren Buffet is a famous ex student of Columbia Business School.
7. IESE Business School
Instituto de Estudios Superiores de la Empresa (Institute of Higher Business Studies) is the business school of the University of Navarra in Spain. It is ranked number seven in the list of MBAs and the campuses are located in Barcelona and Madrid with centers also in New York and Munich. The business school has the blessings of the Catholic Church and Opus Dei. Its endowment is almost 33 million dollars. It was established in 1958 and is governed by an international board which consists of chairmen of the Deutsche Bank, Banque de France, Siemens and Infosys Technologies.
8. MIT Sloan School of Management
MIT Sloan School of Management is one of the five colleges of the Massachusetts Institute of Technology, based in Cambridge, Massachusetts. It is number eight in the list of world MBA colleges. It was established in 1914 and has an endowment of more than 650 million dollars. Like other US business school MIT Sloan also has had numerous Nobel Prize winners on its faculty and the school is very famous for economic research and has been the nursery for famous finance and management theories like Theory x and Theory y or The Random Walk Hypothesis. More than nine hundred MBAs pass out from this great school every year. Its former students include Kofi Anan, Carly Fiorina and Benjamin Netanyahu.
9. University of Chicago: Booth
University of Chicago Booth School of Business has the third largest endowment amongst US business schools and amounts to 800 million dollars. It was earlier known as the University of Chicago Graduate School of Business but after a donation of 300 million dollars by a former student David G Booth it was renamed in 2008. The concentrations or majors offered are in Accounting, Analytical Finance, Economics, Human Resource Management and Finance. The school is one of the oldest having been established in 1898.
10. Schulich School of Business
The Schulich School of Business at Toronto, Canada is the number ten in the list of the top global MBA colleges. It is part of York University and was established in 1966. It was originally known as Faculty of Administrative Studies but was renamed after it got a donation of15 million dollars from Seymour Schulich. The number ten position has been rightfully claimed on the college’s ability to place students in new career opportunities and for its global value.