European Business Schools to Throw off Shackles of Doubt: MBA News

European business schools made a spirited recovery from the economic concerns of the last five years in 2013 and are poised to enjoy a prosperous year ahead.

That’s the verdict of a new feature in the Financial Times, which points to a surging interest in executive education among both prospective students and employers looking to hire MBA graduates. It’s a view largely shared by the 2013/14 QS TopMBA.com Jobs & Salary Trends Report, released in October of this year which surveys employers around the world to ascertain demand for MBA graduates.

While the article states that the last few years have seen a higher growth in students taking on pre-experience master’s degrees in subjects such as finance, accountancy, marketing and general management, it clarifies that the MBA remains the flagship qualification for leading European business schools.

London Business School, among others, aided by large-scale donations

Another strong sign that European business schools, and those in the UK in particular, have turned an important corner with regards to their future health are notable spikes in the receipt of funds from philanthropic donors. For example, London Business School’s US$40m gift from 1980s MBA graduate, Idan Ofer.

Indeed, the gift of over US$30m bestowed upon Imperial College Business School by Brevan Howard, the world's third largest hedge fund, has allowed the school to attract top talent from the US to lead the newly created Brevan Howard Centre for Financial Analysis.

Sourcing professors from the likes of the Wharton School and New York University, as Imperial has done for the center’s executive and research directors, is a clear indication of the kind of future it can look forward too.

Shifting career choices made by MBA graduates

Although the health of European business schools has changed for the better in 2013, less likely to be halted are the shifting pursuits of MBA graduates.

No doubt aided in their inspiration by turbulent times experienced in the recession period, European business school graduates have increasingly taken to entrepreneurial careers with startups. The FT cites HEC Paris reporting that after three years it expects 15-20% of its MBA graduates to be working as entrepreneurs.

Another significant statistic comes from European MBA graduates’ destination choices, with more opting to spread their wings further afield in search of the right opportunities. 10 years ago, almost all London Business school grads remained in the UK, but in 2012 it reported that less than half stayed put – and 35% sought careers outside of Europe altogether.

But, European business schools seem only too happy to encourage their graduates to explore the growing possibilities presented by emerging markets – even if it means joining forces with traditional competitors. In November, for instance, five leading European schools came together to put on an Asia careers fair at London Business School and there are reports that jointly-run admissions events won’t be too far behind.

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