This month, TopUniversities is publishing the second edition of the QS Global MBA Rankings, featuring 250 of the world's best business schools for full-time MBA programs around the world. But what is an MBA? And why is it so important that it deserves its own ranking? Allow us to answer these questions and cover the basics of what a Master of Business Administration degree (to give it its full name) entails.

So, what does an MBA involve?

The MBA is a business-focused postgraduate program which is currently responsible for producing many of the top graduates working in finance and business around the world. Although it’s a relatively new qualification (compared to more traditional master’s degrees anyway), it produces approximately 100,000 graduates in the US every year.

The course is designed to perfectly prepare you for the world of business, with teaching revolving around a series of case studies, real-world examples of business problems for students to find a solution to. Traditional lectures and tutorials feature less frequently, with students instead breaking into small groups or “syndicates” to tackle these business issues. As a result, an MBA degree typically involves less independent study than other master’s programs.

Who typically studies an MBA?

Unlike other postgraduate programs, MBA students have typically chosen to return to studying after a period in work. At London Business School, for example, the average MBA student is 29 years old with five years of work experience under their belt. This is because MBA programs are often seen as a fantastic way to switch careers or develop the tools required to start your own business.

MBA classes are typically also extremely diverse. Although there are high-quality MBA programs available around the world, students will often travel great distances to study at the most prestigious business schools in Europe or the US. To use the London Business School as an example again, their MBA class of 2019 contains 63 different nationalities.

How can I tell an MBA is right for me?

Perhaps the simplest way to decide whether it’s worth studying an MBA is to look at your current career status and analyze whether an MBA would significantly open new doors for you. If you’re still at university or only just starting out in the world of work, it’s potentially too early for you to justify investing in an MBA. If, however, your current career trajectory is beginning to stall and you feel developing new skills will enable you to apply for that big promotion, move to a bigger company or even set up your own, then the broad skill base you’ll acquire from studying an MBA could make it worthwhile. It’s quite common to find MBA programs which are taught over evenings and weekends too, so you might be able to continue working while you study.

What are the alternatives to an MBA?

If an MBA isn’t right for you, one alternative is to study a specialized business master’s degree instead. These offer more of a chance to deepen your expertise in a particular area – such as finance, management or business analytics – and will potentially give you a greater chance of career progression in those specialisms than the more general MBA would. Want to learn more about the best business master’s programs around the world? We’ll be publishing our first-ever ranking focused specifically on management, finance and business analytics master’s later this month!

Where can I find out more about these rankings?

To learn more about the QS Business Masters Rankings 2019, or the QS Global MBA Rankings check out our two preview pieces here and here, or watch the video interview with QS CEO Nunzio Quacquarelli below. These rankings will be published on September 25, so be sure to check back then for lots more content related to these postgraduate study options.

In less than a week, QS will launch the 2019 edition of the QS Business Masters Rankings, a ranking of over 430 business master’s programs worldwide, including master’s in management, master’s in finance, master’s in business analytics, and, new to the rankings this year, the master’s in marketing.

Our comprehensive Business Masters Rankings rank more business master’s degrees than ever before, including 135 schools for the master’s in management, 158 for the master’s in finance, 75 for the master’s in business analytics, and 70 for the new master’s in marketing ranking.

These rankings are compiled based on a five different metrics: employability, entrepreneurship and alumni success, return on investment, thought leadership and class & faculty diversity.

On September 25, the full results will be available, as well as the second edition of the QS World University Rankings: Global MBA Rankings, which will feature nearly 250 of the world’s top business schools.

Until then, read on for some interesting insights for you to consider before they’re announced, based on data we have collected on the world’s top business master’s programs.

European business schools reign supreme

European schools dominate the master’s in management rankings, with 96 programs included in the table compared to the US’s 21. This is very different from the Global MBA rankings, where US schools are much more prevalent.

In fact, the only business masters that has more US than European schools represented in the rankings is the master’s in business analytics, and even this is only by five schools.

In Europe, the number of marketing courses available have more than doubled compared to the US, and the master’s in finance has more degrees in Europe too (79 vs 55).

There’s a high proportion of international students in the business master’s rankings, ranging from 48 percent globally for the master’s in management to 72 percent globally for the master’s in business analytics, while a whopping 83 percent of students on master’s in marketing courses in Europe are international.

More gender parity in business master’s programs

A noticeable trend in the business school world is that business masters tend to have a higher level of gender parity than the MBA programs in the rankings, which have an average of 39 percent female students.

The master’s in finance degrees have the lowest proportion at 41 percent, although this is still higher than the average MBA course. Master’s in business analytics programs are slightly higher at 46 percent, with master’s in management programs achieving gender parity on their programs, with 50 percent female students on average.

Marketing, on the other hand, is a master’s degree dominated by female students, with 69 percent of students on the marketing programs included in the rankings identifying as female.

Younger students, less experience

Business master’s students tend to be younger than the average MBA student. This is unsurprising considering work experience is not a prerequisite of most business master’s programs, but is required for MBA study, where the average amount of work experience ranges from 5 to 9.6 years depending on region. However, in contrast, the average work experience ranges from 0 and 2.7 years in the business master’s rankings.

The average age of MBA students in the rankings is 28 to 35 years, whereas in the business master’s rankings it’s between 23 and 24.5 years, with master’s in management students being the youngest, aged between 23 and 23.7 years, depending on region.

Often, business master’s students begin their degrees shortly after completing their undergraduate study, so are younger and less experienced, as they hope to develop their knowledge in their planned career path rather than developing managerial skills for higher level positions.

Want to know more? Check back on September 25 when we’ll reveal the results in full!

Whether you’re a prospective or current business student, a budding entrepreneur or interested in studying any FAME subject (finance, accounting, management or economics), it’s likely that you’ll find at least one scholarship you’re eligible for below…

To study in multiple locations:

• ESSEC Business School BBA Scholarships – Various scholarships for international students studying the Global BBA (Bachelor of Business Administration) program at ESSEC Business School’s branch campuses in Singapore or France, including the Academic Excellence Scholarship.
• Jane M Klausman Women in Business Scholarship – Scholarships for women in business to gain funding for university. Open internationally for study in any ZONTA-club country.
• Prime Minister’s Business Scholarships – Business scholarships for New Zealand citizens active in the business industry to study internationally and improve their business skills.
• S P Jain School of Global Management Academic & Leadership Scholarships – Scholarships are available for both bachelor and master's programs at the business school's campuses in India, Singapore, Sydney and Dubai.

To study in Asia-Pacific:

Australia

• Business and Economics International China Scholarship @ Monash University – Undergraduate scholarships for Chinese students to study at Monash University in Australia in the faculty of business and economics.
• CBS Innovation International Scholarship – Merit-based scholarships for undergraduate international students to study business information systems/technology at Curtin University’s Curtin Business School.
• Global Leaders Scholarship @ University of Queensland – Undergraduate and graduate scholarships for international students from selected countries in Asia and Europe to study at the University of Queensland in Australia within the faculty of business, economics and law (excluding the MBA). Follow these links for European, Malaysian, Taiwanese, Singaporean and Hong Kong students.

New Zealand

• International Business Masters Scholarships – Merit-based scholarships for international students studying a business-related master’s degree (accounting, marketing, management etc.) at the University of Auckland’s business school in New Zealand. The dean of the school also offers a dedicated scholarship for Asian students, detailed here.

To study in Europe:

Netherlands

• SBE International School Scholarship @ Maastricht University – Undergraduate scholarships for non-EU/EEA students to study a bachelor’s program in business or economics at Maastricht University in the Netherlands.

Spain

• Barcelona GSE Tuition Waivers and Scholarships – Merit-based scholarships and tuition waivers for international students at the Barcelona Graduate School of Economics in Spain. Eligible programs include the nine-month master’s degree in economics, finance and data science.

UK

• Business Excellence Scholarships @ Newcastle University – Business school scholarships for students accepted to a business school masters program at Newcastle University in the UK. No separate application required.
• Business School International MSc Scholarship – Master’s degree business scholarships for students at the University of Hull’s business school in the UK.
• Exeter World Class Business Student Scholarship @ Exeter University – Graduate scholarships for business students studying a selected master’s program at Exeter University.
• Graduate Business School Scholarships @ University of Aberdeen – Various merit-based scholarships to study a graduate-level program at the University of Aberdeen’s business school. Open to UK and international students.
• Business School Undergraduate Scholarships @ University of Leeds – Various scholarships available for students of all nationalities to study business at the University of Leeds. They also offer a range of master’s scholarships. 
• Scholarships @ Bayes Business School – Various scholarships for international students to study at City University London’s Bayes Business School on an undergraduate program.
• The Henley Business School Academic Excellence Scholarship – International business school scholarships for all undergraduate programs at the University of Reading’s Henley Business School.
• TSYS Master Scholarship @ York University – Graduate scholarships for UK/EU master’s students of selected business and management programs at the University of York.
• Undergraduate Scholarships @ Manchester Business School – Various undergraduate scholarships for UK and international students to study at Manchester Business School. Emphasis on social responsibility. A QS Scholarship is also available from this school.
• Warwick Business School Scholarships – Master’s scholarships open to students at Warwick Business School on a wide range of FAME subjects, including finance and international business.

To study in North America:

Canada

• EDC Youth Education Program for Canadians – International scholarships for Canadian students studying a business-related subject at undergraduate level in Canada.
• BBA Entrance Scholarships @ HEC Montréal – Merit-based scholarships for international students to study a Bachelor of Business Administration program at HEC Montréal. No separate application is required.

US

• ACFE Ritchie-Jennings Memorial Scholarship Program – Scholarships for international students to study in the US on a degree related to the study of fraud. Accepted subjects include business administration, accounting, finance and criminal justice.
• Buick Achievers Scholarship Program – Undergraduate scholarships for business majors and STEM students in the US. US residents only.
• Catching the Dream Scholarships – Business scholarships for Native American students wishing to study at an accredited university in the US.
• College of Business Study Abroad Scholarship @ Iowa State University – Scholarships for business majors to fund their studies at Iowa State University in the US. Open to undergraduate and graduate students.
• FWSF Scholarships – US scholarships for female students studying finance in the SanFrancisco Bay Area at undergraduate level.
• GE/LNESC Scholarship – Scholarships for minority students to study in the US at undergraduate level on a business or engineering program. Funded by GE.
• Mark Beaumont Scholarship Fund – US scholarships for students interested in pursuing careers in interactive entertainment (e.g. video game development). Possible subjects of study include business, leadership, law, marketing and public relations.
• Recognizing Exceptional Student Leaders – Scholarships for business majors with leadership skills in the US to gain partial funding for their studies. Computer science and mathematics majors also eligible.

Entrepreneurship scholarships

• Rapid Formations Entrepreneur Scholarship Programme – Entrepreneurship scholarships for students currently enrolled in a US or UK higher education institution, who show academic excellence/entrepreneurial potential.
• Xero Entrepreneur Scholarship – A scholarship for a UK resident enrolled full-time as an undergraduate or postgraduate student in the country, who shows academic excellence and entrepreneurial spirit.

In the US:

• BlueVine Young Entrepreneurs Scholarship – Two US$5,000 scholarships are available for US college or graduate students interested in pursuing careers as entrepreneurs.
• Grasshopper Entrepreneur Scholarship – Undergraduate and graduate scholarships for student entrepreneurs in the US.
• Greenpal Business Scholarship – Business and entrepreneurship scholarships for business majors in the US to gain funding for a business venture. Students must be studying business, economics or finance.
• NFIB Young Entrepreneur Awards – US scholarships for young entrepreneurs studying at undergraduate level.
• Social Entrepreneurship Scholarships @ NYU – Undergraduate scholarships for budding social entrepreneurs wishing to study in the US at New York University (NYU) on a related program.

Students with entrepreneurial experience and interests can also apply to the QS Leadership Scholarship, worth US$10,000 towards the costs of a postgraduate program, and exclusive to attendees of the QS World Grad School Tour. See the full list of QS Scholarships here.

This article was originally published in April 2015. It was updated in July 2018.

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