25 best European business schools ranked by The Economist

The Economist has released its 2021 Full-Time MBA ranking of business schools from around the world. So, which European business schools come out on top?

Top European MBA programs

IESE Business School in Spain is ranked the best business school in Europe for its full-time MBA. The school also comes out on top overall, ranked the best full-time MBA in the world this year. 

However, this comes in a year where many schools snubbed MBA rankings due to the COVID-19 pandemic. 62 of the world's best business schools, including Harvard, Wharton, and Stanford didn't participate in this year's Economist MBA Ranking. 49 of the best business schools in the world were either ineligible or declined to participate, and a further 13 decided against surveying their students and alumni. So the ranking should be read with caution.  

The absence of certain schools is good news for Europe, with HEC Paris sitting in second place in Europe, and second overall. The overall top 10 is split 50-50 between the US and Europe. 

The European top 10 boasts three schools from France, one from the UK, two from Spain, and others from Italy, Switzerland, Germany, and Monaco. 8 out of the top 25 European schools are from the UK, highlighting the continued popularity of the UK as a study destination. 

The UK is the most represented country among the top 25 best business schools in Europe. France and Spain are tied in second place, with four schools from each country represented. 

The five best-ranked business schools in the UK are Warwick (sixth in Europe), Durham (11th), Nottingham (16th), Edinburgh (17th), and Cranfield (18th). 

The best-ranked schools in France after HEC Paris in second are EDHEC Business School (fourth), EMLYON Business School (eighth), and ESSEC Business School (14th). Spain's highest ranked schools after IESE are ESADE in seventh, IE in 12th, and EADA Business School in 20th. 

Notable absentees include France's INSEAD, and the UK's London Business School and Oxford. 

The Economist Rankings Methodology

The Economist ranks schools based on a variety of metrics which are given different weightings based on the importance students themselves place on them. 

These include: the ability of schools to open new career opportunities for students (at 35%), personal development and educational experience (35%), graduate salary increase (20%), and potential for networking (10%).

The ranking is based on a survey of business schools which collects data on things like graduate salaries, placement rates, and GMAT scores, and accounts for 80% of the ranking. A satisfaction survey of MBA students and alums accounts for 20%.

Stand-out performers

The overall Economist MBA ranking is usually dominated by US business schools. With big hitters sitting out this year's ranking though, the overall top 10 is split 50-50 between Europe and the US. There are 35 US business schools among the total 90. Eight of the top European business schools feature in the overall top 25. 

European schools stand out as well for individual rankings metrics. HEC Paris reported a salary increase of 118% for MBA graduates—the biggest salary increase for any European school in the overall ranking. HEC Paris MBAs can expect to earn an average of over $168,000 three years after graduation. Top employers include Amazon, Johnson & Johnson, and Bain & Company.

With renowned schools sitting out the ranking this year, there are some huge leaps seen by European schools. IESE jumped nine places to hit top spot, for example. But the biggest climbs of all were seen by ESSEC Business School (45 places), the International University of Monaco (38 places), and St Gallen (39 places).  

Europe is also well represented in the top 10 for opening new career opportunities. EDHEC Business School in France is ranked third overall, and is followed by IESE in sixth and SDA Bocconi in eighth. Europe also dominates the potential to network rating. HEC Paris tops the overall ranking, and is followed by IMD in second, Warwick in fifth, IESE in sixth, ESSEC in seventh, and EDHEC in 10th. 

Here’s the 25 best European business schools as ranked by the Economist:

This article was updated on May 24th 2021, to reflect the new full-time MBA ranking by The Economist.