Pursuing a business school degree is a significant financial investment, but the MBA ROI can be substantial—find out what salary could earn after an MBA in Europe
Whether you’re drawn to London’s financial district, Milan’s luxury and fashion sector, or Berlin’s booming startup scene, the career outcomes from an MBA in Europe are endless.
Home to three of the top five MBA programs in the world according to the Financial Times, high quality business schools in Europe offer a more competitive price point than many top US business schools.
But what kind of salary can you expect after earning your MBA in Europe?
To help you plan your next steps, we’ve researched the schools and industries in Europe that offer the highest earning potential for MBA graduates.
Top business schools in Europe for high-earning potential
Graduates from Bocconi’s MBA program, located in Milan, earn an average salary of $202,534 within three years of graduation—almost double the total cost of the MBA, which comes to $112,566 including living costs and healthcare.
Financial services (16%) and consulting (14%) are the most popular paths for the class of 2023, though many also enter consumer products (13%) and the fashion, design, and luxury industries (10%)—key sectors in Milan’s economy.
Bocconi also leads in sustainability, topping the carbon footprint ranking among other top MBA programs globally.
2. INSEAD, France and Singapore
Average salary within three years: $198,904
Global ranking: 2
With campuses in France and Singapore, INSEAD is renowned for its international student body, comprising 75 different nationalities in a cohort of 875.
Consulting remains a dominant career path for MBA grads. In the class of 2023, 61% of grads secured roles in this sector, with more than 270 landing positions in Big Three consulting firms—McKinsey and Company, Boston Consulting Group, and Bain and Company.
For grads seeking entrepreneurial ventures, INSEAD ranks as the best MBA program in Europe for entrepreneurs. Over the past 10 years, graduates have started 739 companies and amassed a collective $23 billion in capital.
Situated in the heart of one of the world’s leading financial centers, London Business School offers close access to top employers in finance and consulting.
It’s no surprise then that in the class of 2023, comprised of 90% international students, more than half (55%) have chosen to start their post-MBA careers in the UK.
Consulting is the most popular career path for MBA grads, with 45% entering the field. Another 26% have pursued careers in financial services, while 21% moved into technology, with Amazon as the leading employer.
At IESE Business School, the option to complete a bilingual MBA in Barcelona means that graduates emerge with professional fluency in both English and Spanish.
More than half of the graduates chose to remain in Europe, with 25% staying in Spain and an additional 26% securing positions elsewhere on the continent.
Nearly half (49%) of recent grads entering consulting, while 21% moved into finance, and 16% taking on corporate management roles.
5. Esade Business School, Spain
Average salary within three years: $182,414
Global ranking: 17
Also located in the vibrant city of Barcelona, Esade Business School offers a flexible MBA program that can be completed in 12, 15, or 18 months, depending on whether you choose to complete an internship and exchange program.
Esade is one of Europe’s leading MBA programs for entrepreneurs, with 128 graduates having founded companies that have collectively generated $1.9 billion.
While average salaries for MBA graduates in Europe can be higher in certain countries, they vary significantly depending on the country, industry, and cost of living.
For instance, MBA graduates in London may command higher salaries in finance and consulting than their counterparts in other European cities, but the higher cost of living and taxation in the UK may offset some of these earnings.
In contrast, cities such as Barcelona offer a lower cost of living, making the MBA ROI for graduates from IESE and Esade even more attractive.
Top industries for MBA graduates in Europe
1. Consulting
Consulting remains a top choice for MBA graduates, offering high salaries and the opportunity to work on challenging projects across various industries.
Copenhagen Business School stands out as the top European business school for earning potential in consulting, according to Bloomberg, with recent grads taking home median salaries of $141,328.
MBA graduates from INSEAD earn median salaries of $133,749, followed closely by London Business School at $130,649.
2. Finance
Finance is another strong sector for MBA graduates, with opportunities in investment banking, private equity, and investment management.
Bocconi ranks as the top European school for earning potential in finance, with recent graduates earning median salaries of $153,739. Swiss schools IMD and St.Gallen follow with median salaries of $150,881 and $139,503, respectively.
3. Technology
Europe’s tech industry has been on an upward trajectory in the last decade, and the sector is nothing short of desirable for MBA graduates.
Once again, Bocconi is the leading institution for MBA graduates entering the field, with grads earning a median salary of around $123,504. Grads from Mannheim Business School landed salaries of $116,527, while IE graduates went on to earn around $115,930.
4. Consumer
The consumer industry is another lucrative sector for MBA grads, with PepsiCo topping the list as the best and largest consumer goods company to work for.
Bocconi grads in this sector are the highest-earners in Europe and second globally, taking home median salaries of $154,139. IE follows closely at $153,280, while INSEAD graduates earn around $115,096.
5. Manufacturing
In the manufacturing sector, opportunities lie in areas such as supply chain and logistics management, and product management.
Graduates from IE Business School take home the highest salaries in Europe, earning around $126,277, followed by IMD and INSEAD, earning $119,381 and $119,270 respectively.
Earning an MBA from a top European business school can be a game-changer, opening doors to high-paying careers and global networks. Whether you’re aiming for a high-flying role in finance, or growing your network as a consultant, an MBA in Europe can give you the education and connections you need to succeed.
