Earning a business master’s can be a significant investment in your future career, but a high-quality education doesn’t have to cost a fortune
As the birthplace of the Master in Management (MiM) degree, Europe remains the main hub for these programs, with 85% of MiM degrees found across the continent. European business schools are consistently ranked among the top MiM and Master in Finance programs in the world by the Financial Times, offering a high-quality education at a competitive price.
In a survey by the Graduate Management Admission Council (GMAC), factors such as affordability and the high reputation of schools are attracting a growing number of Chinese and Indian candidates to business schools in Western Europe, with Chinese candidates favoring Europe over the US.
These are not the only factors that attract students to European business schools. Here are four ways you can increase your return on investment (ROI) by studying a master’s in Europe:
1. Affordability of European business schools
A business master’s degree tends to have lower costs than an MBA, but European business schools offer a significant advantage in terms of tuition fees.
While tuition can vary across the continent, master’s programs in Europe generally offer significantly more affordable price points than their US counterparts, often with a lower cost of living in surrounding areas.
For example, a Master in Management at a top US school such as MIT Sloan can cost upwards of $82,000. A similar program at a top European school like ESCP Business School in France costs €25,800 per year for non-EU students—the total fees for the two-year program remain substantially lower than the one-year program at MIT Sloan.
2. Scholarship opportunities in Europe
Scholarship opportunities can make a huge difference in your academic experience.
Scholarships alleviate the financial burden of business school, allowing you to dedicate more time to in-depth learning, enriching extracurricular activities, and internship opportunities. This can boost your academic performance and enhance your career prospects, improving your ROI.
For Aashna Menda, Mumbai-native and MiM student at ESSCA School of Management in Paris, the ESSCA Excellence Scholarship helped her focus on her studies and actively explore career opportunities—all without the financial strain of a costly city like Paris.
“I’m really grateful that they took away one [worry], so that I can focus on my studies,” Aashna says.
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3. Strong career prospects in Europe
Europe is a thriving international business landscape. Wherever you choose to study, you’ll be near major financial and tech hubs such as London, Paris, and Berlin.
Business master’s graduates often work in finance, consulting and tech, so studying in Europe allows you to network with industry leaders directly, potentially leading to internships and postgraduate opportunities at big-name companies such as KPMG, EY, and Goldman Sachs.
“I’ve got a stronger brand attached to my name due to my school, which really puts me forward. I’ve noticed that people are a lot more responsive when I reach out,” says Matthew O’Donnell, Master in Management student at University College Dublin.
Landing a position at a top company can be highly competitive. Studying at a European institution can equip you with strong industry connections and give you access to career services to improve your chances of success.
4. Build a global network
European business schools are renowned for their diverse learning environments, with faculty members and students coming from all over the world.
Many MiM programs cater to international students by teaching the course in English. A diverse student body is useful preparation for the global business landscape, honing your ability to communicate effectively across cultures.
“The international aspect of the program is a highlight for me. For example, career forums such as the one in Barcelona feature corporate partners from 40 different companies and events such as the Model UN program are really exciting opportunities,” says Matthew.
Establishing a global network can have long-term career benefits. As found in a LinkedIn study, 70% of professionals found their job by knowing someone who worked at the company they were applying to.
This isn’t achieved through networking events alone. At London Business School for example, the 2024 Master in Management class is comprised of 294 students, with 55 different nationalities represented. Similar figures can be found across many business schools in Western Europe.
European business schools consistently dominate master’s rankings, offering a high-quality business education. Combined with affordable tuition fees, an international network, and strong career prospects, a European master’s experience can lay the groundwork for a successful career with great return on investment.