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The quest for quality education has never been more crucial, particularly for those who want to advance their careers in the business world. The QS World University Subject Rankings 2023 has recently released a list of the best business schools in the world, with 6 universities in USA securing positions within the top 15 business schools in the world. These institutions include Harvard Business School, Stanford Graduate School of Business, and the Wharton School at the University of Pennsylvania.
Looking to pursue MBA abroad? Check out the ultimate study guide for MBA in USA, here:
Aside from the prestigious American universities, the QS ranking also features other notable institutions such as the London Business School, Said Business School at the University of Oxford, and HEC Paris School of Management. These top business schools in the world offer a wide range of undergraduate and postgraduate programs, including BBA, BS, MiM, and MSc. Among these programs, the Master of Business Administration (MBA) stands out as the most popular and high-paying.
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Top Business Schools in the World
The following are the top 15 business schools in the world as per the QS Subject rankings 2023:-
| B-School | QS Business Ranking | Top Programs |
|---|---|---|
| Harvard University, Harvard Business School | #1 | MBA | MS and MBA | Ph.D. Business Economics |
| INSEAD | #2 | Global Executive MBA | Master in Management | Ph.D. in Management |
| London Business School | #3 | MBA | Global Masters in Management | Masters in Finance |
| Stanford University | #4 | MBA | MSc in Entrepreneurship| Ph.D. Economic Analysis and Policy |
| Massachusetts Institute of Technology (MIT) Sloan, School of Management | #5 | Master of Finance | BBA: Finance | Master of Business Analytics |
| University of Pennsylvania | #6 | BS in Economics | JD/MBA | Ph.D. in Applied Economics |
| Bocconi University | #7 | World Bachelor in Business | MS: Management | MS in Finance |
| University of Cambridge | #8 | M.Phil. in Management | Executive MBA | M.Phil. in Strategy, Marketing, and Operations |
| University of Oxford, Said Business School | #9 | Executive MBA | MSc Financial Economics | 1+1 MBA |
| HEC Paris | #10 | Master in International Finance | Master in Economics and Finance | MBA |
| The London School of Economics and Political Science (LSE) | #11 | Global’s Masters in Management | MSc Marketing |
| University of California, Berkely | #12 | MBA | Executive MBA | Master of Financial Engineering (MFE)| |
| National University of Singapore | #13 | BBA in Accountancy | MSc in Financial Engineering | MSc in Finance |
| Northwestern University | #14 | Executive MBA | MS in Management Studies |
| Copenhagen Business School | #15 | BSc in Business, Administration, and Sociology | MSc in Economics and Business Administration |
Best Business Schools in the World: Admission Requirements
The following are the admission details for the undergraduate programs offered by these top business schools of the world:-
| B School | Academic Requirement | English Proficiency Requirement |
|---|---|---|
| Bocconi University | A valid secondary school diploma from a recognized board | IELTS: 6.5 overall (with at least 6.0 in each band) | TOEFL: 88 |
| Said Business School | Completion of higher secondary from a recognized board with at least a Grade A and Mathematics as a compulsory subject | IELTS: 7.0 overall (with at least 6.5 in each band) | TOEFL: 100 (with at least 22 in each band) |
| The London School of Economics and Political Science (LSE) | Completion of higher secondary from a recognized board with at least 80% aggregate (for Indian candidates) and Mathematics as a compulsory subject | IELTS: 7.0 overall (with at least 6.5 in each band) | TOEFL: 87 (with at least 21 in Reading and Writing; 19 in Speaking and Listening and band) |
| Haas School of Business | Completion of higher secondary from a recognized board with at least a Grade C | IELTS: 7.0 overall (with at least 6.0 in each band) | TOEFL: 90 |
| NUS Business School | Completion of higher secondary from a recognized board with Mathematics as a compulsory subject | IELTS: 8.0 overall (with at least 8.0 in each band) | TOEFL: 114 |
| Copenhagen Business School | Completion of higher secondary from a recognized board | IELTS: 7.0 overall (with at least 6.0 in each band) | TOEFL: 94 (with at least 20 in each band) |
The admission requirements for graduate programs such as MBA, MiM, etc. at the top business schools in the world are tabulated as follows:-
| B School | Academic Requirement | English Proficiency Requirement | Additional Requirement |
|---|---|---|---|
| Said Business School | 2:1 Bachelor’s degree in a relevant stream with at least 5 years’ managerial experience | IELTS: 7.5 overall (with at least 7.0 in each band) | TOEFL: 110 | GMAT: 650+ |
| Haas School of Business | 4-year Bachelor’s degree in a relevant stream with an average GPA of 3.6 | IELTS: 6.5 overall (with at least 6.0 in each band) | TOEFL: 80 | GMAT: 729 | GRE Quant: 155 GRE Verbal: 153+ |
| Harvard Business School | 4-year Bachelor’s degree in a relevant stream with an average GPA of 3.7 | IELTS: 7.5 overall (with at least 7.0 in each band) | TOEFL: 109 | GMAT: 540+ | GRE Quant: 150 GRE Verbal: 147+ |
| INSEAD | 4-year Bachelor’s degree in a relevant stream | IELTS: 7.5 overall (with at least 7.0 in each band) | TOEFL: 105 | GMAT: 730 (average) |
| Stanford Graduate School of Business | 4-year Bachelor’s degree in a relevant stream | IELTS: 7.0 overall (with at least 6.5 in each band) | TOEFL: 100 | – |
| The Wharton School | 4-year Bachelor’s degree in a relevant stream with an average GPA of 3.6 | IELTS: 7.5 overall (with at least 7.0 in each band) | TOEFL: 109 | GMAT: 530+ | GRE Quant: 146 GRE Verbal: 143+ |
| Cambridge Judge Business School | 2:1 Bachelor’s degree in a relevant stream with at least 2 years of prior experience | IELTS: 7.5 overall (with at least 7.0 in each band) | TOEFL: 110 | Average GMAT: 687 |
| HEC Paris | 4-year Bachelor’s degree in a relevant stream | IELTS: 6.5 overall (with at least 6.0 in each band) | TOEFL: 90 | GMAT: 700 (average) |
| The London School of Economics and Political Science (LSE) | 4-year Bachelor’s degree in a relevant stream with an average GPA of 3.6 | IELTS: 7.5 overall (with at least 7.0 in each band) | TOEFL: 109 | GMAT: 530+ | GRE Quant: 146 GRE Verbal: 143+ |
| NUS Business School | Bachelor’s degree in a relevant stream with at least 2 years of prior experience | IELTS: 7.0 overall (with at least 6.5 in each band) | TOEFL: 100 | – |
Best Business Schools in the World: Tuition Fee
The average cost of pursuing an undergraduate program at top business schools in the world ranges from INR 10.9 Lakhs to 45.2 Lakhs. On the other hand, for graduate programs it lies between INR 25.1 Lakhs to 98.8 Lakhs, per year.
| B School | Annual UG Tuition Fee (INR) | Annual PG Tuition Fee (INR) |
|---|---|---|
| INSEAD | – | 87.4 Lakhs to 88.7 Lakhs |
| London Business School | – | 98.8 Lakhs |
| Stanford University | – | 62.9 Lakhs |
| University of Cambridge | – | 65.3 Lakhs |
| University of Oxford | 29.5 Lakhs to 45.2 Lakhs | – |
| HEC Paris School of Management | – | 25.1 Lakhs to 30.2 Lakhs |
| The London School of Economics and Political Science (LSE) | 25.2 Lakhs to 27.2 Lakhs | 26.5 Lakhs to 39.6 Lakhs |
| National University of Singapore | 10.9 Lakhs to 12.8 Lakhs | 51.4 Lakhs to 55.7 Lakhs |
| Northwestern University | – | 64 Lakhs to 88.3 Lakhs |
Best Business Schools in the World: Scholarships
The top business schools in the world offer financial aid to students having an excellent academic record but face economic hardship. The following are some of the available scholarship options:-
| International Scholarship | Eligibility | Award Details |
|---|---|---|
| Lady Meherbai D. Tata | Indian women graduates studying at an Indian recognized university with a strong academic record | Varies |
| Laidlaw Women’s Leadership Fund | Female candidates studying MBA, MiM, EMBA, etc. at London Business School with academic excellence | Varies |
| Eiffel Excellence Scholarship | International candidates applying to round-1 or CHine pre-select round | Monthly allowance of EUR 1,181 |
| The Wider Cambridge MBA Scholarship for Regional Diversity | Individuals enrolled in an MBA program at Cambridge University with a good academic record | Up to GBP 32,000 |
| Stanford GSB Need-based Fellowships | Candidates pursuing MBA at Stanford University having financial needs | USD 42,000 per year |
Best Business Schools in the World: Placements
Naturally, the best business schools in the world lead to topmost salaries in the industry to worthy candidates. The following are the average annual graduate salaries bagged from the best business schools in the world:-
| School | Average Annual Salary of Graduates | Equivalent Salary for Indians (INR) |
|---|---|---|
| Harvard University | USD 153,000 | 1.25 Crores |
| Stanford University | USD 114,000 | 93.2 Lakhs |
| Massachusetts Institute of Technology (MIT) Sloan School of Management | USD 158,000 | 1.29 Crores |
| University of Pennsylvania | USD 91,000 | 74.4 Lakhs |
| University of Cambridge | GBP 35,000 | 35.8 Lakhs |
| University of Oxford | GBP 35,000 | 35.8 Lakhs |
| HEC Paris School of Management | EUR 73,000 | 65.8 Lakhs |
| The London School of Economics and Political Science (LSE) | EUR 41,000 | 36.9 Lakhs |
| University of California, Berkely | USD 95,000 | 77.7 Lakhs |
Best business schools in the world offer top-notch education, innovative programs, and exceptional opportunities for personal and professional growth. These schools are renowned for producing successful graduates who go on to make significant contributions in the business world. With a global reputation for excellence, these institutions attract students from all over the world, providing them with access to world-class faculty, cutting-edge research, and extensive networking opportunities.
FAQs
Ques1. How much can I earn after graduating from the best business schools in the world?
Ans. After graduating from the best business schools in the world, a worthy candidate can earn anywhere between INR 35.8 Lakhs to INR 1.29 Crores.
Ques2. Which country has the best business schools in the world?
Ans. The USA serves as a home to the best business schools in the world including institutions like Harvard Business School, MIT Sloan, School of Management, etc.
Ques3. What are the requirements to get into the best business schools in the world?
Ans. Undergraduate students who have completed higher secondary from a recognized board with at least 80% aggregate are eligible to enter the best business schools in the world. Graduate students must possess a 4-year Bachelor’s degree in a relevant stream with an average GPA of 3 or more. Moreover, an IELTS score of above 7.0 is recommended.
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