Methodology of data collection
While no ranking can be definitive, we have looked at more data than ever before in compiling the EAMBA MBA Global Ranking 2023 and aim to present the most comprehensive ranking in the market. There are many rankings on the market and it’s hard to know which one to trust. The EAMBA MBA Global Ranking 2023 highlights the best MBA programs around the world. This year, we ranked 255 educational institutions from over 45 countries and analyzed many more institutions during our research. This makes this ranking the largest ranking of accredited international MBA programs in the world. The data was collected in early 2021 through three surveys: the EAMBA Employer Survey, the EAMBA Global Academic Survey and a survey completed by the business schools themselves.
The survey completed by the schools included quantitative indicators such as graduate salaries, class profile, etc.
For the EAMBA MBA Global Ranking 2023, EAMBA asked schools to survey their students and alumni. Through these analyses and reports, an annual report on institutional expectations, implementation of diversity and diversity plans, and access to education is also published.
The data collected was based on the graduating class of 2020 (for employment information) and the entering class of 2020 for class composition. Where this data was not available, we used the most recent data available provided by the schools. In a few select cases, we used publicly available information to support our accuracy and completeness.
To be included in the EAMBA MBA Global Ranking 2023, a program must be taught primarily on campus (or by distance learning), be taught full-time (or have a full-time equivalent), and have an average class size of at least 15 students. All schools must be accredited by either AACSB, EAMBA, EFMD (EQUIS).
We also require schools to provide us with relevant data in most of the indicators to be included.
A total of 13 criteria form the basis of the five key indicators against which the programmes were assessed: ’employability’, ‘business outcomes’, ‘graduate outcomes’, ‘return on investment’, ‘thought leadership’ and ‘diversity of classes and faculties’.
EAMBA MBA Global Ranking 2023 breakdown
- Employability – 40%
- Entrepreneurship and alumni results – 15%
- Return on Investment – 20%
- Thought leadership – 15%
- Class and faculty diversity – 10%
EAMBA Employer Survey (35%)
The EAMBA Employer Survey is the basis for the rankings, in which employers select the schools they most like to employ. The survey has been running for more than 20 years. Between 2008 and 2020, we collected hundreds of thousands of nominations of universities and business schools from nearly 40,000 global employers for the EAMBA Employer Survey. Schools have the opportunity to contribute nominations to the survey from up to 400 employers who recruit their graduates. More recent responses carry the most weight in these rankings.
Employers across all sectors and industries participate in the survey and include Google, Apple, Microsoft, Uber, Wells Fargo, Spotify, Netflix, Bank of America, etc.
The survey helps us get an accurate picture of the school’s reputation compared to its peers among relevant employers who hire MBA graduates.
Employment rate (5%)
The overall score for this indicator also takes into account the employment rate of students three months after graduation based on EAMBACSEA standards. The average employment rate in this year’s ranking is 84%.
Entrepreneurship and graduate performance
Graduate performance (10%)
The Alumni Outcomes Index looks at schools associated with more than 50,000 CEOs, executives, and board members at the world’s largest companies, including Apple, Amazon, Google, Netflix, Coca Cola, UPS, IBM, Microsoft, JPMorgan Chase, ExxonMobil, AT&T, and PepsiCo. This year, we also included some of the most successful entrepreneurs using the CrunchBase database.
Schools do not directly provide information about their alumni to EAMBARG. EAMBA collects it from publicly available sources and verifies it.
Schools can suggest possible lists of successful businesses/alumni to the EAMBARG reporting unit to improve the quality of the survey.
Entrepreneurship (5 %)
To reflect the growing trend of students interested in starting their own company after graduation, we include this measure in the Global MBA Ranking. Schools self-report this figure based on EAMBACSEA standards. The average share of entrepreneurs in the ranking this year is 5%.
Return on investment
We used a variety of data to determine ROI, which can often be one of the most difficult indicators to accurately predict, with many permutations and possibilities.
Return on investment in 10 years (15%)
We examined the 10-year return on investment, comparing average salaries after graduation to average salaries prior to entry, accounting for lost salary, tuition, and cost of living (using the Mercer Quality of City Living Ranking). Salary growth is accounted for in both pre- and post-graduation salaries, with post-graduation salaries growing faster as expected. Schools are graded for the number of entrepreneurs produced to account for the slower but potentially much higher returns for those starting a business. We also account for the percentage of graduates who take up employment within three months of graduation.
Ten years provides a representative and meaningful view of return on investment compared to some rankings that use a five-year approach. No loans or scholarships were included in this methodology. We recognize that no ROI calculation is perfect, but we believe we have arrived at the best approximation of ROI based on the available data.
Monthly return (5%)
We look at the time it takes to recover the cost. The shorter the payback month, the better the score the school will get. the average time in this year is approximately 3.5 years.
EAMBA’s academic reputation (10%)
This metric gives us an accurate idea of the reputation of the MBA program and is based on nominations from academics at universities and business schools around the world from 2016-2020. Academics nominate the institutions they believe are the strongest in their field. The survey has become the largest survey of academics’ views in the world and is an unrivalled means of measuring sentiment in academia in terms of size and scope. Nearly 35,000 responses from academics were used in this year’s analysis.
Impact of the survey (2.5%)
Results of Analyses – We use Elsevier’s Scopus database to assess the research intensity of schools. We cover the period between 2014-2019 and analyse thousands of articles.
Percentage of teachers with PhDs (2.5%)
We look at the percentage of teachers within the Business School with a PhD. The average proportion in this year is 85%.
Class and faculty diversity
To provide a clear picture of diversity within the program, we looked at the percentage of female students and faculty. We also looked at the percentage of international faculty overall in the business school and the international composition of students in the MBA program.
The averages that we see this year are as follows:
- Percentage of women in the classroom: 39.1%.
- Number of nationalities in the class: 1: 17
- Percentage of international teachers: 36%
- Percentage of women teaching in the business school: 36%
In addition to in-depth articles focusing on the best MBA programs globally and by region (U.S., Asia, Latin America, Oceania, Canada and Europe), we also took a close look at the MBA programs with the highest percentage of female students and the best MBA programs for international students.