Studying business-related subjects is popular because it’s not only prestigious but also has economic benefits. To study business and entrepreneur-oriented subjects, enrolling in a business college is ideal. This article will examine five of the best business colleges in the world based on the latest QS World Ranking published on their website in 2022.
Why Study Business at a Business College?
It’s natural to ask why you want to study business at a business college. In short, it grooms students to be efficient in management, decision-making, and leadership while enabling them to improve in human resource management, marketing, and financial operations. Based on these factors, potential employers prioritise business college graduates when hiring someone. Hult.edu outlines six reasons to study business in this article:
- Studying business helps you to develop much-needed communication skills required for business.
- It gives you insight into your prospective audience. Hult notes, “taking classes in marketing can teach you to understand your audience and how you can creatively appeal to them.”
- Studying business prepares you to run your balance sheet in perfect order. It helps you to be confident in accounting.
- It unlocks your potential as an entrepreneur.
- It helps you become a good investor. As Hult points out, “a business degree will give you a good understanding of basic economic principles, how markets are affected by world events, and how to assess a firm’s financial health.” These components help you be a better-informed investor.
- Lastly, it strengthens your project management skills.
To develop these qualities, it is essential to choose a business degree in a top-class business college.
What Are the Top Business Colleges in the World?
Now that you understand why you should study business in a business college, let’s talk options.
The ranking of the best colleges in this article is based on QS World University Rankings by Subject 2022: Business & Management Studies. If you wonder how their ranking works, they have an article on their ranking method. The best business colleges, according to QS, are:
Founded in 1636, Harvard University is well known globally. Students all over the world flock to study at Harvard University every year. The university has produced numerous well-known Nobel laureates, scholars, billionaires, and politicians, including 8 US presidents.
Harvard University has three primary campuses, along with other affiliated campuses all over the world. Its Business School offers undergraduate degrees, MBAs, postdoctoral courses, and other executive degrees.
People say only the strongest succeed here. Due to a low acceptance rate, the competition to study at Harvard University is tough. However, their admission process is meritocratic; therefore, the brightest individuals have more potential to study here. QS gives them a 96.5 overall rating, making them the number one university in business-related colleges.
Institut Européen d’Administration des Affaires, commonly known as Insead, is a popular business college with more than 64 thousand alumni who studied business-related courses. They have four campuses around the globe: Fontainebleau in France, San Francisco in the US, Abu Dhabi, and Singapore.
Insead claims, “(they) develop thoughtful business leaders who use their knowledge, creativity, and skills to promote global peace and prosperity.” For over 60 years, Insead has pushed the global standard for business college from the front. Insead also ranks second in terms of MBA graduates who’re currently chief executives of an FT500 company.
Their master programmes include Masters in Management, MBA, Executive MBA, Executive Master in Finance, and Executive Master in Change. With an overall score of 94.5, QS ranks Insead as the 2nd best business college in the world.
London Business School
According to QS rankings, with a score of 93.4, London Business School (LBS) ranks as the third-best business college in the world. LBS is a constituent college of the federal University of London. Their address is Regent’s Park, London NW1 4SA, United Kingdom.
Investopedia praises LBS’s MBA programme for emphasising cultural diversity and international perspectives. This business college consistently ranks among the top five MBA programs in the world. They claim their “accreditation denotes the highest possible standard of achievement in postgraduate business education. Criteria are stringent and extend to every aspect of (LBS) operations.”
Their Masters in Finance post-experience programme ranked 1st in 2020 according to Financial Times. LBS’s teaching and learning emphasise research, diversity, innovations, and learning in practice. Investopedia, based on its research, shares that LBS MBA graduates saw an average starting salary of just over €100,000 in 2019, of which over 90% accepted their offers within three months of graduation.
In recent years, these graduates have found employment principally in the financial services, technology, and management consulting sectors. Goldman Sachs (GS), Amazon (AMZN), and McKinsey & Company are among their largest individual employers.
Located in Stanford, California, this famous private university was opened in 1891. Their business college is named Stanford Graduate School of Business. Stanford boasts around 2,288 faculties, of which more than 16,000 students are currently enroled.
They claim, “Our mission is to create ideas that deepen and advance our understanding of management and with those ideas to develop innovative, principled, and insightful leaders who change the world.” With a score of 92.3, Stanford is ranked after Harvard University, Insead, and London Business School.
Although they rank as the fourth in business-related universities, their MBA programme is ranked first in the world, according to QS, beating Harvard Business School in this regard. Along with the MBA programme, their business school has courses such as Msx, PhD, and other non-certificate courses, including Executive Educations, and an online program.
Massachusetts Institute of Technology (MIT)
According to QS, they rank as the best university globally, with their business faculty ranked fifth worldwide. With an overall score of 91.8, the Massachusetts Institute of Technology ranks right after Stanford University. MIT is proud of its American heritage and providing the advancement of modern science and technology since the industrial revolution.
As of 2021, 98 Nobel laureates, 26 Turing Award winners, and 8 Fields Medallists have been affiliated with MIT as alumni, faculty members, or researchers. MIT claims, “The MIT community is driven by a shared purpose: to make a better world through education, research, and innovation. We are fun and quirky, elite but not elitist, inventive and artistic, obsessed with numbers, and welcoming to talented people regardless of where they come from”.
MIT’s business college is known as the MIT Sloan School of Management. MIT’s School of Management is specialised in executives. With a group of students all over the world, they are immensely popular among prospective students.
You certainly don’t have to study at one of the top business schools to have amazing job prospects, but it definitely doesn’t hurt if you do. What is important is that if you know you want to study business, consider a university with a business school or a set business college to get you started. Not only will the opportunities and training provided there catapult you in the right direction, but it will also make you stand out from other applicants when looking for jobs. Or, if you’re looking to become an entrepreneur, a degree in business will set you up for success.
If you want to know about some of the best German Universities for MBA degrees, here is an article by Ewor which can help.