Top 10 GMAT Accepting Business Schools in Europe

While the US is where the MBA originated, Europe is now home to some of the top programs for the prestigious qualification.

According to the Financial Times ranking, INSEAD with its campuses in France as well as Singapore, currently boasts the world’s second-best MBA program, while three of the other top ten programs are held by European schools.

Plus, there are plenty of advantages to studying in Europe. First, tuition fees for an MBA in Europe are typically lower than in the US. INSEAD's MBA fees come in at around $107k for entry in 2024, compared to nearly $175k fees at FT's top-ranked MBA, Wharton. Europe is also home to a wealth of history, culture, and industry—ensuring that you get even more from your academic experience.

So, how do you go about getting into one of these prestigious European business schools?

A great start is to take the GMAT, which tests students' management abilities across three sections. These categories are Quantitative, Verbal, and Data Insights, and the test measures key skills such as communication, verbal reasoning, critical reasoning, and data analysis.

Many top schools in Europe require an admission test score, such as the GMAT, for acceptance but even for ones that don’t, having a good result can help to compensate for otherwise weaker aspects of your application.

So, without further ado, here are the top 10 business schools in Europe that accept the GMAT:

10. Cambridge Judge

Not only does it boast one of the UK's top business schools, Cambridge is also home to a myriad of tranquil parks and centuries-old architecture, making it an idyllic location to study.

The Cambridge Judge one-year MBA program costs around $87k and places a large emphasis on entrepreneurship, with students able to avail of the nearby startup hub: Silicon Fen.

In order to be accepted, applicants must present an excellent academic record, two plus years of work experience, and your admission test score, such as the GMAT.

9. Saïd Business School

There are few places that provide a more magical learning experience than the filming location for the Harry Potter franchise. Considered one of the most prestigious universities in the world, Oxford is also home to a top-rated business school, Saïd Business School.

Its MBA program runs for a year at a cost of approximately $100,500 and facilitates team ventures that can turn into profitable businesses.

Oxford Saïd accepts valid scores for the GMAT and offers several funding opportunities, including the Oxford Saïd-HEC Montreal Scholarship, which factors in elements such as academic record and GMAT scores.

8. ESCP

Originally founded in Paris, ESCP currently has campuses across all of Europe, including London, Berlin, Turin, and Warsaw, making it a truly cosmopolitan school.

Plus, its MBA in International Management is one of the most flexible on this list, as it allows students to study either online or on campus for a period of 10 to 34 months. Not to mention, at roughly $62k for the total program, it's also one of the more affordable.

The applications process will look at candidates' CV, degree certificates, grades, and admission test such as the GMAT. Based on the strength of an individual's admission, successful applicants may be offered an Excellence Grant of $9,800.

7. IE Business School

Based in the buzzing Spanish capital of Madrid—renowned for its flamenco dancing—IE business school is a prime location to finesse your management skills while also living la vida loca.

At a base cost of $90k, the school's International MBA program runs for 11, 15, or 19 months, and encourages its students to make a positive impact on the world.

To apply, students are required to complete a live online assessment as well as the IE Global Admission test. The school will also accept the GMAT score in conjunction with the other application requirements.

6. Esade Business School

The second school based in Barcelona on this list, Esade prioritizes diversity, with more than 97% of its cohort being international.

The MBA program at Esade is also very flexible, with options to study for 12, 15, or 18 months for a base tuition fee of $84k.

In order to be admitted, students must have a bachelor's degree, a minimum of two years' experience, and a high score in the admission test, such as the GMAT.

During the MBA admissions process, students are also evaluated for the Esade Excellence Award. The school looks at your admission essays, university transcripts test scores, recommendation letters, and interview reports, and will offer funding between 10% to 50% of the MBA tuition fees to successful candidates.

5. HEC Paris

Number five on this list, HEC Paris is widely regarded as one of Europe's best business schools. Not only is it located in one of the continent's most exciting cities, the school is at the forefront of cutting-edge teaching, with MBA students able to specialize in in-demand skills such as AI and data.

Tuition fees stand at around $107k for the 16-month program, in which students also have the option to complete a study abroad segment.

Plus, once accepted, students are automatically considered for HEC's Diversity and Excellence scholarships, which are awarded to candidates on the basis of merit. These are awarded after considering elements such as your professional background, academic history, and GMAT score.

4. London Business School

Given its location in the heart of the UK's capital, London Business School (LBS) offers its MBA students not just a solid grounding in management fundamentals, but also access to one of Europe's largest job markets.

Costing approximately $147k in total, LBS' MBA program is flexible, running for 15, 18, or 21 months depending on what suits its students. Alternatively, the school also offers a one-year MBA program, at around $95k

In order to apply, candidates are required to submit both an essay and an admission test result, such as your GMAT score.

3. IESE

Barcelona is famous for more than just Gaudi, Picasso and partying—it’s also home to one of Europe’s top three GMAT accepting business schools!

The IESE MBA runs for two years for a tuition fee of $115k, and its students benefit from attending classes taught by an international faculty, as well as getting to meet influential keynote speakers as a part of the school's Global Leadership Series.

There are also merit-based scholarship opportunities available, such as the IESE Excellence Scholarship, which takes into account factors such as a student's academic profile and their GMAT score.

2. SDA Bocconi

Situated in the dynamic fashion, business, and finance hub of Milan, SDA Bocconi offers abundant opportunities for MBA students to enter top management positions. Graduates are typically recruited by major industry players such as Armani, Amazon, and Bain.

Not to mention, at just $82k for the one-year program, it’s also the most cost-effective business school on this list.

Equally, the school also has merit-based tuition waivers open to successful MBA students, which take into account factors such as your academic history and GMAT score. In order to be eligible for a full tuition waiver, a minimum GMAT score of 655 is required.  

1. INSEAD

Topping this list is the world’s number two MBA program—and where better to study business than in a school that straddles two continents? Based in both France and Singapore, INSEAD offers a truly global academic experience to its students.

Tuition fees sit at approximately $107k for its leading 10-month program, which includes access to high-end networking events and international trips.

In order to be accepted, Insead’s admissions board looks at various elements, such as a candidate’s international motivation as well as their GMAT exam (or GRE) score.

So, there you have it: these are Europe's top MBA schools that accept the GMAT. Where will you choose?