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2014 / 2015

GLOBAL

200

QS Global 200
Business Schools Report
Unlocking the worlds top 200 business schools

Louis Lavelle, MA New York University, BA Montclair State University


Daniel Kahn, BSc, BA (Hons) Salford University

www.TopMBA.com

Contents
Introduction

1.0 Fast Facts

2.0 Regional MBA Rankings

3.0 Employer Survey Sample

10

4.0 Academic Survey Sample

14

5.0 Top business schools by region: North America

17

6.0 Top business schools by region: Europe

21

7.0 Top business schools by region: Asia-Pacific

25

8.0 Top business schools by region: Latin America

28

9.0 Top business schools by region: Middle East & Africa

30

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2014/15 QS Global 200 Business Schools Report

About the Contributors


Editor: Nunzio Quacquarelli is founder and managing director
of QS Quacquarelli Symonds Ltd, publishers of TopMBA.com
and organizers of QS World MBA Tour. He has an MA from the
University of Cambridge and an MBA from the Wharton School.
He lives and works in London.
Editor: Louis Lavelle is the editor-in-chief of TopMBA.com. His
35-year career in journalism includes eight years as the business
schools editor at Bloomberg Businessweek, where he co-led the
team that won two National Magazine Awards. He is also the
author of The Best B-Schools (McGraw-Hill Professional, 2008).
Lavelle has an MA from New York University and a BA from
Montclair State University. He lives and works in New York City.
Analyst: Daniel Kahn is a researcher with QS Quacquarelli
Symonds Ltd, and heads up the data collection team for the
QS Global 200 Business Schools Report. He has travelled
extensively to attend QS admissions events giving him broad
knowledge of the MBA world. Before joining QS he worked for
the telecommunications company, Alcatel. He lives and works in
Paris.

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Introduction
The QS Global 200 Business Schools Report originated in the early 1990s
as an alternative to business school rankings. At the heart of the report
was a definitive list of 200 business schools from which employers
prefer to recruit MBAs. The research was intended to be of use to MBA
employers, prospective MBA students and institutions worldwide that
are interested in international business education and recruitment
trends.
All that is still true. But for the first time this year QS is introducing a number
of changes that will transform the Global 200 Business Schools Report. The
report is compiled from an annual survey of human resources managers
at companies around the world that actively recruit MBA graduates. With
the 2014/15 report, the research now includes a second measure: academic
reputation. Based on a global survey of top faculty with expertise in business
and management, the new measure identifies those business schools with the
best worldwide reputation for cutting-edge research, an expertise that informs
teaching, curricula, and many other aspects of those programs.
At the same time, were changing the way we present the data. In the past, we
published separate regional rankings for four categories of business schools:
elite global, emerging global, elite regional, and emerging regional. Our new
report eliminates the four categories in favor of a single ranking for each region
covered: North America (the US & Canada), Europe, Asia-Pacific, Latin America,
and the Middle East & Africa.
Rankings in 10 MBA specializations, from strategy to corporate social
responsibility will be published at a later date. We have also eliminated schoolby-school placement, salary, and bonus data, which is not part of our ranking
methodology. That data will be presented in a new report on the MBAs return
on investment, to be published separately.
The changes are based on the growing realization that the value proposition
of the MBA is changing. It is no longer viewed as merely a passport to highpaying job. For many students, it is also a way to create value in other ways
whether that means working with a nonprofit or starting a business. Those
goals require academic skills far beyond the ones that prepared generations
of MBAs for careers in finance and consulting, and they demand a new kind of
ranking. This report is just such a ranking.

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Report 2014/15

1.0

Fast Facts

www.TopMBA.com

Worldwide: Six schools received the maximum score for employer recognition, identifying
them as the leading schools in their region, including two new US additions to this club: the
University of Pennsylvanias Wharton School and Northwestern Universitys Kellogg School
of Management. Four schools received the maximum score for academic reputation: Harvard
Business School, Stanford Graduate School of Business, the Wharton School and MITs Sloan
School of Management. Three schools Harvard, Stanford, and Wharton received the maximum
score for both.
North America: The triumvirate that dominates the top tier of US business schools once again
occupies the top of the North American list this year, with Harvard, Stanford and Wharton in an
unprecedented three-way tie for the No. 1 spot. The change in the ranking methodology resulted
in big shifts among well-known schools. In the top 10, New York Universitys Stern School
of Business moved up 11 spots to No. 10. Elsewhere, the McCombs School of Business at the
University of Texas, Austin, gained 10 spots, the Marshall School of Business at the University of
Southern California advanced 18 spots and the Paul Merage School of Business at the University
of California, Irvine rose by 19.
Europe: After more than a decade at the top, INSEAD surrenders the No. 1 spot in Europe to
London Business School in what amounts to a rankings dead heat, with LBS nudging out its
rival by the narrowest of margins. Sad Business School at Oxford University joins the top three,
HEC Paris and SDA Bocconi join the top five, and the University of Strathclyde Business School,
Cass Business School, Business School Lausanne, and Grenoble Graduate School of Business all
gained 20 spots or more.
Asia-Pacific: INSEADs Singapore program retains its grip on the Asia-Pacific title thanks to a
reputation among international MBA employers that exceeds that of all other business schools
in the region several times over and an academic reputation among the very best in the world.
Singapore retains its hold on the top of the list, while two Hong Kong schools have come out of
nowhere to establish a formidable foothold in the top five. India has lost three of its four top 10
spots, including those held by prestigious IIMs in Bangalore and Calcutta as well as the Indian
School of Business.
Latin America: EGADE-Tecnolgico de Monterrey, Campus Monterrey, Latin Americas top
school for both employer recognition and academic reputation, once again retains the No. 1
spot, followed by Pontificia Universidad Catlica de Chile, which held on to No. 2. Two schools,
unranked last year, joined the group: Universidad Adolfo Ibez at No. 5 and Universidad
Diego Portales at No. 9. Universidad de Chile was the big gainer, advancing three spots to
No. 3, followed by INCAE Business School, which moved up two spots to No. 6, and Instituto
Tecnolgico Autnomo de Mxico (ITAM), which moved up one spot to No. 4.
Middle East & Africa: A new entry to the Global 200, the College of Industrial Management at
King Fahd University, took the No. 1 spot from the Graduate School of Business at the University
of Cape Town, which fell to No. 3. The American University in Cairo rose two spots to No. 2, while
the Suliman S. Olayan School of Business at the American University of Beirut rose one spot to
No. 4.

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Report 2014/15

2.0

Regional MBA
Rankings

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Management education is globalizing. The past decade has seen an increase of accredited business
schools open in emerging markets such as in the BRICs (Brazil, Russia, India, and China). While
business schools in the US and Europe remain the most popular study destinations among MBA
students, schools elsewhere in the world such as those in Asia are growing in popularity. The
proliferation of accredited programs around the globe has led to a wider choice for MBA applicants
over the past few years. Recent trends indicate that there is greater onus on choosing the right
country as well as the right business school. According to the QS TopMBA.com Applicant Survey
2014, over 50% of MBA students are choosing schools based on the country in which they wish to
work.
Furthermore, international MBA recruiting is no longer the domain of a few prestigious US and
European companies. A growing number of HR managers in the Asia-Pacific region, Latin America,
and the Middle East are informed about MBA education, widening the sample available for the QS
Global Employer Survey.
As a consequence of these shifts, regional MBA trends are of increasing importance. In order to
provide data to help students and recruiters best choose which schools to apply to and recruit
from, QS has categorized its business school ratings by region.

Methodology
Since the beginning, the objective of the QS Global 200 Business Schools Report has been to provide
an indication of the employability of an MBA upon graduation. Unlike traditional business school
rankings, which measure programs on multiple criteria, QS for many years published a rating that
provides a reliable measure of one thing only: the employability of MBA graduates.
For the 2014/15 report, QS has adopted a new methodology. The employability measure, based on
our global survey of MBA employers, will now count for 85% of the final ranking. A second measure
academic reputation based on a global faculty survey, will contribute 15% to the final ranking.

Employer Survey
The QS Global 200 Business Schools Report survey (hereafter referred to as the survey) captures
the preferred set of business schools each responding employer wishes to recruit from; either now,
in the recent past or in the near future.
QS asks international employers to select the schools from which they consider hiring MBA
graduates. Employers that focus on domestic hiring are not included in the survey. However, QS
recognizes that many excellent schools that cater predominantly to the local recruitment market
may not appear in the tables.
We include only business schools offering full-time MBA programs and as such well-known
business schools like ESCP Europe and HEC Lausanne (which only offer executive MBA, part-time
MBA and/or masters programs) are excluded.

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2014/15 QS Global 200 Business Schools Report

In order to produce the QS Global 200 Business Schools Report, QS focuses on experienced HR and
line managers at organizations that actively recruit MBAs. Respondents from each company are
asked a series of questions about MBA recruiting in the previous and the forthcoming year.
Employer responses to these questions provide information on the following:
MBA recruitment trends
MBA salaries and compensation trends
Global business school ratings by region
Global business school ratings by specialization
Each employer is asked to list, unprompted, the international schools from which they have
recently attempted to recruit MBAs. Each time a school is selected by an employer, it receives one
vote and the total number of votes for each school is referred to as the total unprompted votes.
From a list of 500 business schools that have been categorized by region, employers are then asked
to identify the schools they regard as attractive for the purpose of hiring MBA graduates. In order
to be included on the list, a school must have been recommended by an employer in the previous
year of the research. Each time a school is selected, it is given one vote, and the total for each
school is referred to as the total prompted votes.
The prompted and unprompted votes are added together to create the total employer votes. In
order to ensure balanced results that are not subject to influence from the economic cycle, an
average of the total employer votes is taken from the current years research and the two previous
surveys.
The best performing school(s) are given an index score of 100 and the average total employer votes
for the remaining schools are indexed against the best performing school(s). This score is known as
the schools index of employer votes.

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Academic Reputation
Separate from the employer survey, the QS Intelligence Unit surveys academics from all over the
world each year, a survey that forms the centerpiece of the QS World University Rankings. In 2014,
63,676 faculty and other academics responded to the survey.
Respondents are first asked to identify their areas of expertise countries, regions, and up to five
faculty areas with which they are most familiar. For each of the five faculty areas, they are then
asked to list up to 10 domestic and 30 international institutions that they consider excellent for
research in that area. They are not permitted to choose their own institutions. For the QS Global
200 Business Schools Report, only responses related to business and management were used.
To increase the size of the sample, responses from one year are combined with those from two
previous years, and duplicate responses from the same individuals over the three-year period are
removed. In 2014, QS received 3,128 usable responses. Combining the 2014 responses with those
from two previous years gave us a total of 7,187 responses.
As with the employer survey, the best performing school(s) in the academic survey are given an
index score of 100 and the remaining schools are indexed against the best performing school(s).

Final Ranking
To assemble the final ranking, we assign a weight of 85% to the employer survey results and of 15%
to the academic reputation results. This combined score determines the relative position of each
school on each table.
This research does not intend to infer an overall global ranking of schools. Instead, the schools
in five global regions are ranked separately. Breakdowns for elite global, emerging global, elite
regional, and emerging regional business schools that appeared in previous reports are no longer
provided.
The combined or overall scores listed in the ranking tables are rounded to one decimal point.
Schools with the same overall score might have a different rank because of this rounding.

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3.0

Employer Survey
Sample

11

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Employer Survey Sample


The survey was conducted over six months and represents one of the largest exercises QS has
undertaken in terms of geographic scope and level of detail.
The total of 28,759 employers responded to the QS Global Employer Survey between 2012 and 2014,
including 5,669 who were actively recruiting MBAs. All employers who responded to the survey are
guaranteed confidentiality for the components of their individual responses, except for any openended feedback they have chosen to provide on the value of an MBA or concerns with MBA hires.
The following table gives a snapshot of some of the organizations that took part in the survey
across the world.

Consulting

Finance

Industry

Technology

Asia

Europe

US & Canada

Latin America

Beijing Consulting Group

AT Kearney

Booz Allen Hamilton

Accenture

Grant Thornton LLP

Bain & Company

Deloitte

Deloitte

Ernst & Young

BCG

Ernst & Young

KPMG

IBM

PwC

Towers Watson

PwC

Commonwealth Bank

AXA

American Express

Banco Santander

Citibank

Bloomberg

BlackRock

Bancolombia

Nomura

BNP Paribas

Citibank

BBVA Continental

OCBC Bank

Deutsche Bank

ING

HSBC

Air Liquide

Abbott

3M

Colgate Palmolive

Alstom

Alstom

Best Buy

Daimler

Baxter

Bayer

ConAgra Foods

Exxon

Bombardier

Boehringer

DHL

Merk

Hitachi

Alcatel-Lucent

Brightstar Corporation

Hewlett-Packard

Microsoft

Google

Apple

Atos

LG Electronics

Avaya

Oracle

BlackBerry

Tata

Microsoft

Microsoft

MercadoLibre

Source: QS Global 200 Business Schools Report 2014/2015 (TopMBA.com)

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2014/15 QS Global 200 Business Schools Report

Industry Distribution of Employers


The chart below shows the spread of employers across 20 industries. This reflects the global
spread of industries that hire MBAs. The consulting and financial services sectors are the largest
respondents in 2014, reflecting traditional MBA hiring patterns. HR/recruitment services,
manufacturing, IT, consumer goods and energy are also well represented in the sample.
Responses by industry
0

200

400

600

800

1000

Aerospace / Defence
Construction / Property
"Consulting / Professional Services
Electronics / High Technology
Energy
Consumer Goods
Financial Services / Banking
IT / Computer Services

Law
Manufacturing / Engineering
Media / Entertainment & Arts
Metals / Mining
&Pharmaceuticals / Biotech & Healthcare
"Public Sector / Govt. / Non-profit
Recruitment / HR services
Retail
Telecoms
Transportation / Distribution
Travel / Leisure / Hospitality
Utilities
Other
Education

Source: QS Global 200 Business Schools Report 2014/2015 (TopMBA.com)

Source: QS Global 200 Business Schools Report 2014/2015 (TopMBA.com)

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13

Geographical distribution of employers


Responses were received from employers across the globe, with 19% of employer respondents
based in Western Europe, 14% in North America, 30% in Asia-Pacific, 6% in Eastern Europe, 13% in
Middle East and Africa, 18% (of which the majority were hiring locally) in Latin America. Among
respondents in Asia-Pacific, 12% were employers in Australia and New Zealand. This breadth of
response provides detailed insights into MBA recruiting patterns across the globe.

13%

Africa & Middle East

19%
Asia Pacic

30%

14%

Eastern Europe
La?n America
US & Canada

18%
6%

Western Europe

Source: QS Global 200 Business Schools Report 2014/2015 (TopMBA.com)

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Report 2014/15

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Academic Survey
Sample

15

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Academic Survey Sample


The following tables and charts provide a description of the individuals who took part in our
academic survey. In 2014, nearly two-thirds were faculty professors, associate or assistant
professors, senior lecturers and lecturers while nearly a third were administrators. Nearly threequarters have more than 10 years of academic experience. The respondents come from all over the
world, with Europe, Latin America and North America accounting for more than 70% of the sample.
Academic Survey Respondents by Job Title 2014
Total
1600
1400
1200
1000
800
600
400
200
0
an

ice

re

sid

Te

en

ac

t /

hi

ng

ep

ut

ss

y V

ist

ur
ct
or
ni

Se

A
or
ni
Se

Le

ist
dm

in

Sp
ch
ar
se
Re

er

r
ra

ia
ec

ist
ss
A
ch
se

Re

to

lis

an

ia
oc
ss
A

-P
ce

Pr

Vi

of

Pr

es

es

so

id

r /

en

ar

te

-C

ha

ro

nc

fe

el

ss

lo

or

r
Ot
ice
V
t /

/ L
n
ria
ra
Lib

Ad

he

an
ist
ss
A
ry
ra

ib

o
ad
He


er
ur
ct

f D

nt
ta
sis
As

Le

en
tm
ep

ar

ro
P

ns
io
iss
m
Ad


or
fe

6o
nc
Fu
r /
to
ra
ist
m

in

ss

ce

na

Total

Source: QS Global 200 Business Schools Report 2014/2015 (TopMBA.com)

Regional Breakdown of Academic Survey Respondents 2014


Total
800
700
600
500
400

Total

300
200
100
0

Africa Australasia Caribbean Central


Asia

East Asia

Eastern
Europe

La=n
America

Middle
East

North Northern South Asia Southeast Southern Western


America Europe
Asia
Europe Europe

NA

Source: QS Global 200 Business Schools Report 2014/2015 (TopMBA.com)

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2014/15 QS Global 200 Business Schools Report

Academic Survey Respondents by Years in Academia 2014


Total
1200
1000
800
600

Total

400
200
0

0-10

11-20

21-30

31-40

41-50

51+

Source: QS Global 200 Business Schools Report 2014/2015 (TopMBA.com)

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5.0

Top business schools


by region:

North America

18

2014/15 QS Global 200 Business Schools Report

2014
Rank
1=

2013
Rank
1

Institution

Country
United States

Employer
Score
100.0

Academic
Score
100.0

Overall
Score
100.0

Harvard Business School

1=

Graduate School of Business, Stanford University

1=

United States

100.0

100.0

100.0

732

35

The Wharton School, University of Pennsylvania

United States

100.0

100.0

100.0

725

36

The University of Chicago Booth School of Business

United States

99.9

99.6

99.9

723

40

Columbia Business School, Columbia University

United States

99.8

99.2

99.7

716

41

The Kellogg School of Management, Northwestern University

United States

100.0

97.8

99.7

715

36

Sloan School of Management, Massachusetts Institute of Technology (MIT) United States

99.4

100.0

99.5

713

30

12

Ross School of Business, University of Michigan

United States

97.1

95.9

96.9

701

32

UCLA Anderson School of Management

United States

96.6

97.9

96.8

707

39

10

21

Stern School of Business, New York University (NYU)

United States

93.8

97.3

94.3

721

32

11

17

Yale School of Management, Yale University

United States

92.6

95.9

93.1

714

37

12

11

Haas School of Business, UC Berkeley

United States

90.5

99.8

91.9

714

41

13

10

The Fuqua School of Business, Duke University

United States

91.2

88.7

90.8

634

49

14

Joseph L. Rotman School of Management, University of Toronto

Canada

90.5

86.3

89.9

674

26

15

14

Richard Ivey School of Business, The University of Western Ontario

Canada

81.5

56.4

77.7

662

58

16

19

Sauder School of Business, University of British Columbia

Canada

68.7

85.1

71.2

658

55

17

15

Desautels Faculty of Management at McGill University

Canada

69.1

80.4

70.8

690

19

18

20

Thunderbird School of Global Management

United States

75.8

21.2

67.6

601

58

19

29

McCombs School of Business, University of Texas at Austin

United States

60.9

88.8

65.1

690

39

20

24

Boston University School of Management

United States

60.0

47.9

58.2

620

36

21

25

Kelley School of Business, Indiana University

United States

58.1

51.8

57.2

664

66

22

16

HEC Montreal

Canada

55.7

58.3

56.1

625

26

23

42

Marshall School of Business, University of Southern California

United States

53.2

51.1

52.9

690

31

24

27

Tuck School of Business at Dartmouth

United States

51.7

52.1

51.8

718

28

25

31

S.C. Johnson Graduate School of Management, Cornell University

United States

43.9

78.9

49.2

700

44

26

34

Illinois MBA Program, University of Illinois Urbana-Champaign

United States

43.4

69.4

47.3

661

51

27

23

Kenan-Flagler Business School, University of North Carolina

United States

44.4

60.5

46.8

690

32

28

13

Schulich School of Business, York University

Canada

51.2

20.7

46.6

663

28

29

26

Tepper School of Business, Carnegie Mellon University

United States

40.1

79.0

45.9

691

34

30

33

McDonough School of Business, Georgetown University

United States

45.0

40.4

44.3

688

45

31

18

Queens School of Business

Canada

44.4

41.8

44.0

665

60

32

22

Alberta MBA Programs, University of Alberta

Canada

42.8

46.3

43.3

648

40

33

51

The Paul Merage School of Business, University of California, Irvine

United States

46.5

18.2

42.3

660

30

34

38

The Carroll School of Management, Boston College

United States

40.1

35.1

39.4

593

26

35

30

Full-Time MBA Program, Mays Business School, Texas A&M University

United States

38.0

45.5

39.1

648

39

36

54

Graduate School of Management, University of California, Davis

United States

42.3

21.1

39.1

690

37

37

28

University of Virginia Darden School of Business

United States

37.4

40.8

37.9

706

35

38

71

The Eli Broad Graduate School of Management, Michigan State University United States

27.4

58.7

32.1

660

37

39

36

Goizueta Business School, Emory University

United States

34.7

14.9

31.7

675

36

40

61

Rady School of Management, University of California, San Diego

United States

29.7

32.9

30.2

613

28

41

48

University of Massachusetts Boston MBA Program

United States

32.4

9.8

29.0

580

29

42

60

Max M. Fisher College of Business, The Ohio State University

United States

23.5

59.0

28.8

666

47

43

35

Georgia Tech College of Management

United States

21.9

64.7

28.3

678

39

44

53

Darla Moore School of Business, University of South Carolina

United States

30.2

13.0

27.6

664

38

45

83

Naveen Jindal School of Management, The University of Texas at Dallas

United States

25.2

33.1

26.4

672

61

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Avg GMAT Avg Years


Score
Work
730
4

% Internl
41

www.TopMBA.com

2014
Rank
46

2013
Rank
39

Institution

Country

Babson College

47

83

Olin Business School, Washington University in St. Louis

48

63

49

United States

Employer
Score
22.4

Academic
Score
47.1

Overall
Score
26.1

United States

25.2

25.2

25.2

696

25

Telfer School of Management, University of Ottawa

Canada

25.8

12.1

23.8

627

70

87

Carlson School of Management, University of Minnesota

United States

17.4

57.2

23.4

690

26

50

81

DeGroote School of Business, McMaster University

Canada

23.0

21.0

22.7

630

30

51

56

The Fox School of Business, Temple University

United States

24.6

8.9

22.3

640

14

52

58

Madison Wisconsin School of Business, University of Wisconsin

United States

17.4

45.4

21.6

676

30

53

59

Jesse H. Jones Graduate School of Business, Rice University

United States

21.3

18.5

20.9

682

50

54

85

Krannert School of Management, Purdue University

United States

14.7

53.5

20.5

627

36

55

65

W. P. Carey School of Business, Arizona State University

United States

13.6

47.8

18.7

637

34

56

77

Smeal College of Business, Penn State University

United States

11.4

59.5

18.6

645

31

57

69

Robert H. Smith School of Business, University of Maryland

United States

10.4

62.9

18.3

656

49

58

41

Graduate School of Business, Florida International University

United States

18.5

15.2

18.0

567

42

59

43

Weatherhead School of Management, Case Western Reserve University

United States

16.9

22.7

17.8

631

26

60

45

Edwards MBA, University of Saskatchewan

Canada

19.6

6.7

17.7

576

40

61

46

Haskayne School of Business, University of Calgary

Canada

16.9

19.2

17.3

620

37

62

80

Michael G. Foster School of Business, University of Washington

United States

12.0

46.9

17.2

670

55

63

57

Segal Graduate School of Business, Simon Fraser University

Canada

18.0

12.8

17.2

607

18

64

52

The Johns Hopkins Carey Business School

United States

14.7

29.2

16.9

650

45

65

62

School of Business, George Washington University

United States

14.7

27.4

16.6

620

47

Eller School of Management, University of Arizona

United States

10.4

47.8

16.0

639

22

66

Avg GMAT Avg Years


Score
Work
610
5

19

% Internl
38

67

49

Gustavson School of Business, University of Victoria

Canada

14.7

19.2

15.4

560

78

68

72

Cox School of Business, Southern Methodist University

United States

16.9

5.7

15.2

641

57

University of California, Riverside

United States

13.6

16.0

14.0

593

20

69
70

50

J. Mack Robinson College of Business, Georgia State University

United States

12.0

23.3

13.7

600

17

71

47

Leeds School of Business, University of Colorado at Boulder

United States

13.1

16.7

13.6

625

50

72

90

LeBow College of Business, Drexel University

United States

14.2

9.5

13.5

600

24

73

Henry B. Tippie School of Management, University of Iowa

United States

11.4

22.2

13.0

635

32

74

Universite Laval

Canada

12.0

15.8

12.6

643

30

75

70

Daniels College of Business, University of Denver

United States

13.1

9.2

12.5

602

67

76

68

Peter F. Drucker, Claremont Graduate University

United States

12.5

12.1

12.4

625

26

77

32

School of Business Administration, University of Miami

United States

13.6

5.2

12.3

704

62

78

64

Graduate School of Management, University of San Francisco

United States

14.2

1.0

12.2

570

25

79

44

John Molson School of Business, Concordia University

Canada

12.5

10.3

12.2

623

33

80

Odette School of Business, University of Windsor

Canada

13.6

3.3

12.1

615

30

81

Loyola University Chicago

United States

11.4

11.5

11.4

575

70

Rutgers Business School - Newark and New Brunswick

United States

12.0

7.4

11.3

582

21

83

Graduate School of Business, University of Florida

United States

1.5

54.0

9.4

672

30

84

School of Business, University of Northern British Columbia

Canada

8.2

14.1

9.1

575

50

85

Graduate School of Business Administration, San Diego State University

United States

9.3

6.7

8.9

602

20

82

67

86

37

Owen Graduate School of Management, Vanderbilt University

United States

9.3

5.7

8.8

688

36

87

76

Katz Graduate School of Business, University of Pittsburgh

United States

8.2

7.0

8.0

622

18

Terry College of Business, University of Georgia

United States

7.2

11.7

7.9

643

32

88
89

55

American University Kogod School of Business

United States

7.7

8.2

7.8

590

44

90

82

School of Management, University at Buffalo - SUNY

United States

7.7

3.0

7.0

600

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20

2014/15 QS Global 200 Business Schools Report

The triumvirate that dominates the top tier of US business schools once again occupies the top
of the North American list this year, with Harvard Business School, Stanford Graduate School of
Business and the University of Pennsylvanias Wharton School in an unprecedented three-way
tie for the No. 1 spot. Last year, Harvard, Stanford and Wharton took the No. 1, 2 and 3 spots,
respectively.
The three schools, along with Northwestern Universitys Kellogg School of Management scored
the highest on employer reputation. They account for four of the six perfect employer scores
worldwide. Harvard, Stanford, and Wharton, along with MITs Sloan School of Management also
achieved the highest score for academic reputation. Those four US schools are the only ones to
achieve perfect academic scores worldwide.
New York Universitys Stern School of Business is the biggest climber in the top 10, moving up 11
spots to No. 10. Also new to the top 10 this year: the Ross School of Business at the University of
Michigan, which advanced four spots to No. 8. Falling out of the top 10 were the Fuqua School of
Business at Duke University, which fell three spots to No. 13, and the Joseph L. Rotman School of
Management at the University of Toronto, which fell six spots to No. 14.
Other big climbers include the McCombs School of Business at the University of Texas, Austin, up
10 spots to No. 19, the Marshall School of Business at the University of Southern California, up 18
spots to No. 23, and the Paul Merage School of Business at the University of California, Irvine, up
18 spots to No. 33.
Since employer scores count for 85% of the final ranking, those scores more or less track the overall
ranking. But academic scores fluctuate broadly. In fact, the bottom half of the list includes 10
schools with academic scores that exceed the regional average (42.5), including the Carlson School
of Management at the University of Minnesota (57.2), Penn States Smeal College of Business (59.5),
and the University of Marylands Robert H. Smith School of Business (62.9).
Among all 90 North American schools on the list, the average GMAT score is 651. Harvard, Stanford,
and Wharton all boast the highest GMAT scores of the group at or above 725 and there appears
to be a fairly close correlation between those scores and the overall ranking.
Every school in the top 10, boasts a 700+ GMAT score, a benchmark reached or surpassed by fewer
than one out of five programs in North America. Among top 15 schools attracting these highcaliber students are the highly-ranked MIT Sloan School, the Stern School at NYU, and the Yale
School of Management; but also the No. 24 Tuck School of Business at Dartmouth (718), No. 25 S.C.
Johnson Graduate School of Management at Cornell (700), No. 37 Darden School of Business at the
University of Virginia (706), and even No. 77 University of Miami School of Business Administration
(704).
A total of 10 schools that were not ranked in 2013 were ranked in 2014, including seven from the US
and three in Canada. The Eller School of Management at the University of Arizona, entering at 66th,
and Universit Laval, at 74th, are the highest-ranked of these programs from the US and Canada,
respectively.

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QS Global 200 Business Schools


Report 2014/15

6.0

Top business schools


by region:

Europe

22

2014/15 QS Global 200 Business Schools Report

2014
Rank
1

2013
Rank
2

Academic
Score
99.9

Overall
Score
100.0

London Business School

INSEAD

France

100.0

99.6

99.9

702

Said Business School, Oxford University

70

United Kingdom

96.6

99.7

97.1

600

10

85

HEC Paris MBA Program

France

95.8

88.4

94.7

683

90

SDA Bocconi School of Management

Italy

86.5

89.0

86.9

600

95

IE Business School

Spain

94.3

43.7

86.7

680

70

ESADE Business School

Spain

85.3

74.9

83.7

670

92

IMD

Switzerland

88.0

51.9

82.6

676

80

IESE Business School, University of Navarra

Spain

83.5

54.9

79.2

670

97

10

13

Judge Business School, University of Cambridge

United Kingdom

75.1

99.9

78.8

660

65

11

14

Imperial College Business School, Imperial College London

United Kingdom

69.5

88.4

72.3

645

91

12

Copenhagen Business School

Denmark

52.2

89.0

57.7

550

80

13

20

Warwick Business School, University of Warwick

United Kingdom

47.1

89.5

53.5

600

84

14

27

Manchester Business School, The University of Manchester

United Kingdom

44.4

92.3

51.6

628

95

15

11

The St.Gallen MBA, University of St Gallen

Switzerland

45.0

64.9

48.0

656

90

16

29

ESSEC Business School

France

35.2

43.5

36.5

600

68

17

17

Cranfield School of Management

United Kingdom

33.6

49.5

36.0

660

80

18

15

Mannheim Business School

Germany

24.6

62.4

30.3

675

83

19

21

European Business School (EBS)

Germany

32.4

15.1

29.8

600

94

20

19

Rotterdam School of Management, Erasmus University

Netherlands

17.4

94.5

29.0

600

70

21

12

Trinity MBA,University of Dublin, Trinity College

Ireland

25.8

40.2

28.0

625

47

22

44

Cass Business School

United Kingdom

21.9

51.5

26.3

634

70

23

23

ESIC Business & Marketing School

Spain

21.9

30.6

23.2

550

84

24

30

University of Edinburgh Business School

United Kingdom

14.7

66.3

22.4

600

94

25

45

Grenoble Graduate School of Business, Grenoble Ecole de Management

France

19.6

28.2

20.9

550

69

26

24

MIP - School of Management, Politecnico di Milano

Italy

18.5

29.3

20.1

580

94

27

35

EDHEC Business School

France

19.1

24.9

20.0

646

60

28

49

Business School Lausanne

Switzerland

18.5

21.8

19.0

550

80

29

37

Sorbonne Graduate Business School - IAE de Paris

France

14.2

42.8

18.5

580

60

30

33

Henley Business School

United Kingdom

15.2

35.0

18.2

640

97

31

42

Nottingham University Business School

United Kingdom

12.0

51.8

18.0

640

88

Birmingham Business School

United Kingdom

12.0

44.7

16.9

500

68

WHU Otto Beisheim School of Management

Germany

13.1

35.7

16.5

640

72

32
33

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25

Institution

Employer
Score
United Kingdom 100.0
Country

Avg GMAT Avg Years


Score
Work
638
6

% Internl
97

www.TopMBA.com

2014
Rank
34

2013
Rank

Academic
Score
12.6

Overall
Score
16.3

35

60

University of Strathclyde Business School

United Kingdom

7.7

55.1

14.8

600

10

36

36

Ashridge Business School

75

United Kingdom

15.2

6.4

13.9

600

13

87

Lancaster University Management School

United Kingdom

1.5

75.1

12.5

601

91

Institution
Aberdeen Business School, The Robert Gordon University

37

Employer
Score
United Kingdom 16.9
Country

Avg GMAT Avg Years


Score
Work
500
5

23

% Internl
96

38

51

Aston Business School, Aston University

United Kingdom

4.6

52.9

11.9

600

65

39

31

Smurfit School of Business, University College Dublin

Ireland

7.2

35.5

11.5

630

90

40

52

Durham Business School, Durham University

United Kingdom

8.2

29.7

11.4

650

84

41

50

EMLYON Business School

France

5.6

43.4

11.3

600

90

42

47

Amsterdam Business School, Universiteit van Amsterdam

Netherlands

2.5

57.8

10.8

630

48

43

Kingston Business School, Kingston University

United Kingdom

6.7

33.1

10.7

550

62

44

Aalto University School of Business

Finland

1.5

59.0

10.1

580

76

45

Audencia Nantes School of Management

France

7.2

20.9

9.3

580

15

IAE Aix Graduate School of Management, Universit Paul Cezanne (Aix-Marseille III)

France

7.2

17.3

8.7

550

53

Aarhus School of Business, Aarhus University

Denmark

1.5

49.4

8.7

500

40

46

54

47
48

46

University of Exeter Business School

United Kingdom

7.2

16.2

8.6

600

40

49

43

Faculdade de Economia, Universidade Nova de Lisboa

Portugal

8.8

6.9

8.5

550

95

50

Universidad Carlos III de Madrid

Spain

4.1

31.1

8.2

500

13

51

Athens University of Economics and Business (AUEB)

Greece

6.1

16.0

7.6

616

50

ALBA Graduate Business School

Greece

8.2

3.6

7.5

600

80

International Organisations MBA, University of Geneva (HEC)

Switzerland

6.1

12.5

7.1

500

100

52

56

53
54

Bradford University School of Management

United Kingdom

2.5

30.9

6.8

600

100

55

Maastricht School of Management

Netherlands

1.5

35.0

6.5

600

70

56

Nyenrode Business Universiteit

Netherlands

6.7

5.2

6.5

575

80

57

Hull University Business School

United Kingdom

3.0

25.3

6.4

500

88

HHL - Leipzig Graduate School of Management

Germany

4.6

16.0

6.3

630

96

59

School of Management, Royal Holloway

United Kingdom

5.6

9.7

6.2

575

84

60

Ko University

Turkey

4.6

13.6

6.0

590

87

61

Brunel Business School, Brunel University

United Kingdom

2.5

25.3

5.9

80

62

Middlesex University Business School

United Kingdom

3.0

21.9

5.8

22

63

Management School, The University of Sheffield

United Kingdom

2.0

26.7

5.7

600

90

58

53

37

64

26

Vlerick Leuven Gent Management School

Belgium

1.5

29.4

5.7

600

40

65

47

LUISS Business School

Italy

6.1

3.1

5.7

97

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24

2014/15 QS Global 200 Business Schools Report

A close battle for first place in Europe ended with London Business School dethroning Frances
INSEAD from the No. 1 spot, a position it has held for more than a decade. With perfect scores
among international MBA employers and near-perfect academic scores, the two have a profile that
far exceeds that of any other school in the region, and places them alongside Harvard Business
School at the top of the global hierarchy. But in the end, it was academic reputation that allowed
LBS to topple INSEAD by the narrowest of margins.
Beyond the top two there has been a shift in the hierarchy this year, with Sad Business School at
Oxford University climbing one spot to third place and HEC Paris leapfrogging numerous rivals
from 10th place to the No. 4 spot. SDA Bocconi School of Management rounds out the top five.
Among the top 10 schools, there was one newcomer: Judge Business School at the University of
Cambridge, which rose three spots to No. 10. Copenhagen Business School, falling three spots to
No. 12, was the only school to drop out of the top 10.
Of the 65 schools on the list, the United Kingdom dominates by far, with 26 schools represented,
followed by France (9), Spain (5), Switzerland (4), Germany (4), the Netherlands (4), Italy (3), Denmark
(2), Ireland (2), Greece (2), Finland (1), Portugal (1), Turkey (1), and Belgium (1).
The methodology change resulted in big swings for many schools, with nine schools gaining more
than 10 spots in some cases far more than that. The University of Strathclyde Business School,
Cass Business School, Business School Lausanne, and Grenoble Graduate School of Business all
gained 20 spots or more.
Unlike North American programs, the GMAT scores at European schools vary widely. Even among
the top 10, they vary from a high of 702 for INSEAD to a low of 600 for Sad Business School and
SDA Bocconi a range of 102 points, compared to a 31-point spread in North America.
In this aspect of the battle for MBA talent, Germany appears to be winning in Europe. German
schools report average GMAT scores of 636, followed by Spain (614), France (610), Netherlands (601),
the UK (600), and Switzerland (595).
But in terms of winners and losers, the UK clearly comes out ahead. Among countries with four or
more ranked schools, Spain and Switzerland have as many schools with gains as losses, Germany
has more losers than winners, while the Netherlands and France have more winners. Neither one
topped the UK though, with 22 schools advancing in the ranking (including nine that were not
ranked last year), and only two retreating.

Follow us

QS Global 200 Business Schools


Report 2014/15

7.0

Top business schools


by region:

Asia-Pacific

26

2014/15 QS Global 200 Business Schools Report

2014
Rank
1

2013
Rank
1

Institution

Country
Singapore

Employer
Score
76.9

Academic
Score
99.6

Overall
Score
80.3

INSEAD - Singapore

NUS Business School, National University of Singapore

12

Singapore

34.1

99.9

44.0

672

97

The HKUST Business School

Hong Kong

18.0

98.0

30.0

669

95

19

Faculty of Business and Economics, The University of Hong Kong

Hong Kong

18.0

94.8

29.5

664

86

10

Nanyang Business School, Nanyang Technological University

Singapore

18.0

89.2

28.7

650

38

Beijing International MBA Programs-BiMBA, Peking University

China

17.4

84.9

27.5

550

70

Melbourne Business School, The University of Melbourne

Australia

12.5

97.6

25.3

600

14

Indian Institute of Management, Ahmedabad

India

20.2

48.8

24.5

711

10

67

AGSM MBA Programs, University of New South Wales

Australia

12.0

93.6

24.2

630

25

10

20

Graduate School of Business, Seoul National University

Korea, South

10.4

85.3

21.6

510

70

11

14

College of Business and Economics, The Australian National University ANU

Australia

8.8

93.8

21.6

500

80

12

18

The Chinese University of Hong Kong

Hong Kong

9.3

90.1

21.4

650

10

13

Indian Institute of Management, Bangalore

India

12.0

43.6

16.7

69

14

23

La Trobe Business School, La Trobe University

Australia

13.6

30.2

16.1

640

19

15+

17

Faculty of Business and Economics, Monash University

Australia

3.0

84.9

15.3

600

90

15+

26

Guanghua School of Management, Peking University

China

3.0

84.9

15.3

640

61

17

Indian Institute of Management Calcutta

India

11.4

34.6

14.9

35

18

16

School of Management, Fudan University

China

4.1

70.7

14.1

650

UQ Business School, University of Queensland

Australia

1.5

85.2

14.1

10

45

19

Avg GMAT Avg Years


Score
Work
702
6

% Internl
70

20

21

School of Economics and Management, Tsinghua University

China

1.5

79.5

13.2

72

21

31

Lee Kong Chian School of Business, Singapore Management University

Singapore

4.6

61.8

13.2

652

75

22

15

Sydney Business School, University of Wollongong

Australia

11.4

18.1

12.4

39

23

11

China Europe International Business School (CEIBS)

China

9.3

27.5

12.0

692

90

24

13

Macquarie Graduate School of Management, Macquarie University

Australia

4.1

54.3

11.6

680

10

70

25

34

Graduate School of Business and Law, RMIT University

Australia

5.6

43.5

11.3

600

73

26

25

Waseda Business School

Japan

3.5

46.0

9.9

550

60

UWA Business School, The University of Western Australia

Australia

1.5

54.4

9.4

610

50

27
28

22

The University of Adelaide Business School

Australia

3.5

42.4

9.3

550

13

29

Indian School of Business

India

8.2

13.7

9.0

711

70

30

29

QUT Brisbane Graduate School of Business

Australia

2.5

42.4

8.5

550

15

Follow us

www.TopMBA.com

27

Its no surprise that INSEADs Singapore program retained its grip on the Asia-Pacific title this year.
Its reputation among international MBA employers exceeds that of all other business schools in the
region several times over and its academic reputation is among the very best in the world, giving it
an overall profile not unlike that of some of the top schools in Europe and the United States.
But below the coveted No. 1 spot, this regional ranking underwent dramatic change, with
Singapore solidifying its hold on the top of the list, two Hong Kong schools coming out of nowhere
to establish a formidable foothold in the top five, and India losing three of its four top 10 spots
including those held by IIMs in Bangalore and Calcutta as well as the prestigious Indian School of
Business.
New to the top 10 this year are the No. 3 HKUST Business School, up nine spots from last year,
the No. 4 Faculty of Business and Economics at the University of Hong Kong, up 15 spots, and the
Graduate School of Business at Seoul National University, which jumped 10 spots on the strength
of a powerful academic reputation to take the No. 10 spot.
While Singapore is now firmly ensconced at the top of the list, its Australia that dominates the
list itself, with a total of 12 programs making the cut, including two top 10 programs, Melbourne
Business School and the AGSM MBA program at the University of New South Wales. China is next,
with five programs on the list, followed by Singapore (4), India (4), Hong Kong (3), South Korea (1),
and Japan (1).
GMAT scores in the region average 625, a full 26 points higher than those in Europe, but 26 points
shy of those in North America.
The academic reputation of the Asia-Pacific schools, however, is far better than either 66.4 to
North Americas 42.5 and Europes 44.2 with fewer schools having academic scores below 40 (17%
compared to half of all schools in Europe and North America). Consistent high academic quality
among virtually all schools is one of the defining attributes of the Asia-Pacific market. The highest
academic scores are enjoyed by schools in Hong Kong (94.3), followed by Singapore (87.6), China
(69.5), Australia (61.7), and India (35.2).

Follow us

QS Global 200 Business Schools


Report 2014/15

8.0

Top business schools


by region:

Latin America

www.TopMBA.com

2014
Rank
1

2013
Rank
1

Institution

Country

EGADE-Tecnolgico de Monterrey, Campus Monterrey

Pontificia Universidad Catlica de Chile

Avg GMAT Avg Years


Score
Work
628
8

29

Mexico

Employer
Score
14.2

Academic
Score
76.2

Overall
Score
23.5

Chile

12.5

66.8

20.7

500

15

Universidad de Chile

Chile

8.2

55.9

15.4

500

15

15

Instituto Tecnolgico Autnomo de Mxico (ITAM)

Mexico

7.2

58.2

14.9

580

85

Universidad Adolfo Ibez

Chile

5.6

36.5

10.2

610

70

% Internl
10

INCAE Business School

Costa Rica

7.2

25.9

10.0

550

60

Fundacao Getulio Vargas

Brazil

1.0

53.3

8.9

550

60

IAE Business School, Universidad Austral

Argentina

4.1

28.2

7.7

651

Universidad Diego Portales

Chile

6.1

9.9

6.7

550

IPADE Business School, Universidad Panamericana

Mexico

4.1

15.5

5.8

608

9
10

10

A total of 10 Latin American schools earned a place on the Global 200 list this year. Chile dominates the list
with four schools, followed by Mexico with three and Costa Rica, Brazil, and Argentina with one school each.
Mexicos EGADE-Tecnolgico de Monterrey, Campus Monterrey, Latin Americas top school for both employer
recognition and academic reputation, retains the No. 1 spot, followed by Pontificia Universidad Catlica de
Chile, which also occupies the same position as last year.
The top school for GMAT scores was once again Argentinas IAE Business School, Universidad Austral, with
an average score of 651. Four of the 10 schools this year reported average GMAT scores that topped 600
unchanged from last year an impressive achievement in a region where the average score is 573.
Two schools fell out of the ranking this year: Brazils BSPBusiness School Sao Paolo, which ranked third
last year, and Perus ESAN, Escuela de Administracion de Negocios para Graduados, which ranked ninth
while two Chilean schools, unranked last year, joined the group: Universidad Adolfo Ibez at No. 5 and
Universidad Diego Portales at No. 9.
Universidad de Chile was the big gainer, advancing three spots to No. 3, followed by Costa Ricas INCAE
Business School, which moved up two spots to No. 6, and Instituto Tecnolgico Autnomo de Mxico (ITAM),
which moved up one spot to No. 4.

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QS Global 200 Business Schools


Report 2014/15

9.0

Top business schools


by region:

Middle East &


Africa

www.TopMBA.com

2014
Rank
1

2013
Rank

Saudi Arabia

Employer
Score
1.5

Academic
Score
29.0

Overall
Score
5.6

Egypt

2.5

15.3

4.4

583

Graduate School of Business, University of Cape Town

South Africa

1.5

20.3

4.3

580

The Suliman S. Olayan School of Business, The American University of Beirut

Lebanon

2.5

4.4

2.8

610

19

University of Witwatersrand

South Africa

1.0

9.2

2.2

500

19

Institution

Country

College of Industrial Management (CIM), King Fahd University


American University in Cairo

4
5

Avg GMAT Avg Years


Score
Work
5

31

% Internl
10
23

The battle for dominance in the Middle East & Africa this year was won, and lost, on academic reputation.
Unranked last year, the College of Industrial Management at King Fahd University, with the highest academic
score in the region, took the No. 1 spot from the Graduate School of Business at the University of Cape Town,
which fell to No. 3. The American University of Sharjah in the United Arab Emirates fell out of the ranking
this year.
The American University in Cairo rose two spots to No. 2, while the Suliman S. Olayan School of Business at
the American University of Beirut rose one spot to No. 4.
As a group, the schools in Middle East & Africa are the least international in the world, with the number
of international students ranging from a high of 23% at American University in Cairo to a low of 6% at the
Graduate School of Business at the University of Cape Town. They also lack significant recognition from
international MBA employers.
But on academic reputation some schools in the region, such as King Fahd and Cape Town, enjoy the kind of
profile enjoyed by some lower-ranked schools in the US and Europe.

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2014/15 QS Global 200 Business Schools Report

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Business Schools Report 2014/15 and other independent QS research.

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