The 10 best business schools in Europe

Business school graduates who gain an MBA can secure increased salaries and greatly improve their contacts and career prospects.

However, choosing where to study for an MBA is an increasingly difficult decision. Business Insider recently released its sixth-annual ranking of the best business schools in the world.

The list was determined by analysing data on five metrics: reputation (determined through our annual reader survey), average starting salary after graduation, job placement rate (the percentage of graduates who were employed within three months of graduation), average GMAT score, and tuition and fees.

You can read a full explanation of the methodology used to determine our rankings here.

Read on to see the full list of the 10 best business schools in Europe.

Editing by Alex Morrell with additional research by Andy Kiersz.

10. Ramon Llull University -- ESADE Business School

Location: Barcelona, Spain

Average starting salary: £47,850 ($72,400)

Average GMAT score: 660

ESADE offers a bilingual -- English and Spanish -- graduate degree in business that provides students the flexibility to heighten their career prospects in a time frame that suits them. The customised program can be completed in 12, 15, or 18 months to allow time for other personal and professional commitments. The 12-month program provides an accelerated MBA degree, while the 18-month program leaves students time for internships, academic exchanges, and other opportunities while completing academic requirements.

9. University of Warwick -- Warwick Business School

Courtesy of Warwick Business School

Location: Coventry, England

Average starting salary: £60,000 ($90,800)

Average GMAT score:656

The University of Warwick's business school offers a 12-month MBA program for students with a global-business mind-set that includes an intensive schedule of core and elective modules, a consultancy project, and optional studies abroad. Within 90 days of graduating, 97% of students secured a job in 2015 -- one of the highest placement rates on our list. Warwick's top-recruiting companies include Amazon, American Express, Citibank, and Goldman Sachs.

8. International Institute for Management Development -- IMD

Facebook/IMD Business School

Location: Lausanne, Switzerland

Average starting salary:
£67,400 ($102,000)

Average GMAT score: 670

IMD carefully selects just 90 students for each class of its one-year MBA program, and the program proves career altering for almost all: 94% of the 2014 graduating class changed job function, industry, or geographic location. More than two-thirds of graduates go on to accept jobs in industry positions like manufacturing, technology/media, and consumer products, and the top-hiring companies include Accenture, Amazon, and Cisco Systems.

7. IE Business School

Facebook/IE Business School

Location: Madrid, Spain

Average starting salary: £51,300 ($77,700)

Average GMAT score: 680

IE Business School offers a 12-month international MBA, where students from 90 different countries acquire management experience and expand their cultural intelligence. As the first business school in the world to implement entrepreneurship standards for MBA students, IE reports that 15% of students start their own companies through the school's incubator, Area 31. IE also primes students for careers in consulting and finance -- fields in which 38% of 2014 graduates accepted jobs.

6. University of Navarra -- IESE Business School

IESE - MBA/Facebook

Location: Madrid, Spain

Average starting salary: £61,400 ($93,000)

Average GMAT score: 680

A degree from IESE Business School makes a noticeable difference in graduates' earning potential. The average starting salary before entering the program is $45,000, but that number rises to $93,000 for grads, according to the school. And with IESE's bilingual program, students can become fluent Spanish speakers through the multilingual campus environment and intensive classes and by experiencing daily life in Spain.

5. HEC Paris

Facebook/HEC Paris

Location: Paris, France

Average starting salary: £57,500 ($87,000)

Average GMAT score: 685

Since its founding in 1881 by the Paris Chamber of Commerce and Industry, HEC Paris has become one of the most selective graduate schools in Europe. Its alumni have gone on to run Fortune Global 500 companies like Best Buy, Havas, Michelin, and L'Oréal.

Ninety per cent of students accept job offers within 90 days of graduation, and top recruiters for the class of 2014 included Amazon, LinkedIn, and Google.

4. Oxford University -- Saïd Business School

Saïd Business School, University of Oxford/Facebook

Location: Oxford, UK

Average starting salary: £57,900 ($87,700)

Average GMAT score: 690

MBA students get a truly global experience during their time at Oxford. For one, the cohorts are diverse --
international students make up 95% of the class of 2016 -- bringing together viewpoints from a variety of cultures. On top of that, many students also participate in student treks during their year at Oxford, in which they travel to a certain part of the world for a week or two to meet potential recruiters and alumni, gaining a firsthand understanding of what it's like to do business there. Past classes have ventured to Dubai, Singapore, and Silicon Valley.

3. University of Cambridge -- Judge Business School

Location: Cambridge, UK

Average starting salary: £71,900 ($108,900)

Average GMAT score: 690

Though 89% of students are employed three months out of school, 95% have received job offers within that time period. The one-year MBA program offers a global immersion in traditional business, finance, and other corporate settings, as well as Cambridge's own surrounding tech startup community -- charmingly known as Silicon Fen. The MBA class is a diverse one, with students coming from six continents and more than 40 countries.


Wikimedia Commons

Location: Fontainebleau, France

Average starting salary: £62,200 ($94,100)

Average GMAT score: 701

With campuses in France, Singapore, and Abu Dhabi, INSEAD's accelerated 10-month MBA program teaches students to lead and innovate across cultures. At $69,700 for tuition and fees, INSEAD is one of the best-value business schools in the world. Last year, 42% of graduates entered the corporate job sector, and an increasing number of grads accepted jobs in tech, with Amazon and Google both as top-10 recruiters.

1. University of London -- London Business School (LBS)

Wikimedia Commons

Location: London, England

Average starting salary: £78,800 ($119,200)

Average GMAT score: 701

University of London's business school is once again the best business school outside the US. With 75% of the top-500 global companies based in London, the school is a recruiting and networking gold mine for a host of multinational corporations, including Boston Consulting Group and McKinsey & Co. In addition to earning an MBA, students are required to graduate with a second-language proficiency in one of 15 languages offered by the Modern Language Centre at King's College London.

NOW WATCH: Ideas videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.