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- Getting an MBA in Switzerland: Everything you Need to Know
One of the richest and most developed nations in the world is Switzerland. As a result, substantial financial resources are allocated to the sector of education. In actuality, Switzerland is one of the OECD (Organization for Economic Cooperation and Development) nations that makes the most investments in this field. The result of these efforts is that the Swiss educational system now ranks among the best in the world in terms of standards. Because of this, many MBA students choose Switzerland as their study abroad location.
Why Attend a Swiss MBA Program?
Worldwide firms have chosen Switzerland as their global base due to its richness and advantageous location in Europe. Several multibillion-dollar companies, including Nestle, McDonald's, Yahoo!, and Nissan, view Switzerland as the center of the European economy. Switzerland, which is regarded as the birthplace of business in Europe, is hence the best location for students seeking an MBA. Most of the colleges that provide MBA programs have connections to these enormous businesses.
Why do an MBA In Switzerland?
The internationally renowned MBA programs offered by Swiss universities will aid in your understanding of both broad business ideas and specific fields of study. High-tech and banking are two of Switzerland's key businesses, providing graduates with a wide range of work opportunities after earning an MBA there. In addition to these advantages in terms of the program and job prospects, Switzerland is appealing for getting an MBA for several other reasons.
Superior Education
The most brilliant minds in the world are drawn to Switzerland because of its unique MBA teaching standards. The nation also devotes the majority of its resources to research and education, bringing in notable speakers. Students are then provided with fantastic networking and learning opportunities as a result of this. Since most colleges in Switzerland are public, tuition costs are lower, which is another benefit of doing an MBA there.
A Center for European Companies
Switzerland is one of the top 20 richest nations in the world. With 500 existing businesses, more global organizations decide to create their worldwide bases in this nation. Large firms have also relocated some or all of their European operations to Switzerland, including Google, McDonald's, and Nissan. Numerous Swiss colleges provide programs that are connected to local businesses and present numerous employment chances with organizations from the banking, chemical, pharmaceutical, and hospitality industries.
Excellent Place to Learn Foreign Languages That Are Useful for Businesses
Students from all around the world are welcome in Switzerland. Since Switzerland is a bilingual nation, you learn and use a lot of other languages. In addition, a lot of language schools teach the four national languages of France, Germany, Romanian, and Italy.
Lucrative Graduate Salary Packages after earning a degree
One gets exposed to a constantly expanding market with high pay and other financial incentives after earning an MBA in Switzerland. An MBA graduate makes about $1,57,000 (INR 1,17,35,828) per year, which is $13,083 per month in Switzerland (INR 9,77,961).
Hosts A Significant Proportion Of Foreign Students Each Year
Since you will eventually need to deal with individuals from other cultures, doing an MBA in Switzerland will help you acquire cross-cultural management abilities. There is no greater chance to learn this talent from lecturers and peers of different ethnicities. Nearly 50,000 foreign students attend schools in Switzerland; 21% of them and 40% of the instructors are international.
Eligibility or Requirements for Pursuing MBA in Switzerland
Numerous colleges provide profitable prospects for an MBA in Switzerland for Indian students, in addition to the country's excellent infrastructure, stunning scenery, and friendly culture. Switzerland has a distinct educational system from India. In Switzerland, graduates from one discipline are only eligible for post-graduate study in that discipline if they have already completed their graduation requirements in that discipline.
Students must submit all of their transcripts from 10th grade through their last year of graduation to pursue an MBA in Switzerland, and they must have received a first-class grade from an accredited institution. Additionally, there are a few other criteria that must be met before an applicant is admitted to a Swiss business school.
GMAT
Not all colleges need students to take the GMAT or Graduate Management Admission Test. High GMAT scores are necessary for admission to several prestigious schools, such as IMD Business School, the University of St. Gallen, etc. The exam requires at least 2.5 to 3 months of preparation, and the score is good for at least 5 years.
Language prerequisites
Since English is the primary language of education in Switzerland, you must demonstrate your proficiency in it.
To get admission to a university, candidates must pass a variety of English language competency exams like the IELTS and TOEFL. IELTS scores between 7.0 and 6.5 are desirable. While different colleges desire a TOEFL computer-based exam score of 80 to 90.
Essays
You must submit three relevant essays to a Swiss business school to stand out to the admissions committee if you want to get admitted. Through these essays, Swiss universities evaluate your capacity for sustained pressure, teamwork, networking, and interpersonal skills.
Resume
Create your resume in a way that distinguishes you from other college students. It ought to discuss your credentials, prior employment history, and accomplishments. Keep your résumé succinct and direct.
Recommendation letter
You are required to send a letter of reference that has been written by any professor, manager, or employer from your former academic institution or place of employment.
Your LOR should strengthen your application and showcase your managerial or leadership abilities.
The referee should send the required number of recommendations—usually two to three—before the deadline for most Swiss universities.
Work Experience
The majority of business schools in Switzerland demand that applicants have at least two years of work experience, with seven years on average being the desired amount.
Documents Necessary
You must submit all the necessary paperwork for the application procedure once you have met the requirements for an MBA in Switzerland. Here are some of the documents required for general education, while various universities may have different requirements.
- Certified copies of diplomas from high school
- Qualifications pertinent in the original language
- A copy of your bachelor's degree transcript
- Completed the application
- Four photos in passport size
- A duplicate of a genuine passport that includes the photo ID page and biographical data
- Proof of English language competency
- Summary of the preceding courses you studied in translation
Application Process
Start by looking out at several colleges in Switzerland that offer the MBA program before applying. Check your eligibility, and if you meet it, make plans for the funding you'll need to support your studies in Switzerland. Visit a business school's official website to submit an online application for admission. Once you've been accepted, you should apply for a residence permit and then search for lodging options close to the school.
Given its reputation, it is not surprising that students pick Switzerland above other nations for their Master's degree programs.
Switzerland MBA Program Types
Swiss business schools provide a wide range of programs, including the general MBA, executive MBA, one-year MBA, part-time MBA, and global MBA.
General MBA
This course is intended for business students who desire to improve their education but lack professional job experience. Students must submit their GMAT results to be considered for admission to this two-year program. Students are expected to attend lectures and participate in various projects as soon as they are admitted. Two of the many universities in Switzerland that provide regular MBA programs are included in our list.
Executive MBA
Students in a two-year program must have five years of managerial experience. The benefit of this program is that accepted students may continue working while attending classes on weekends. The University of Strathclyde, HEC Geneva, and HEC Lausanne are just a few of the Swiss colleges that provide this sort of MBA program.
12-month MBA
This course is referred to as an accelerated MBA course. It is comparable to the standard MBA. The duration and tuition fees are the only differences. The majority of Swiss institutions offer one-year MBA programs.
MBA part-time
This MBA program stands out because it can be taken online or on the weekends. This allows students to keep their jobs while simultaneously saving them time. Universities like St. Gallen and HEC Geneva provide interested students with part-time MBA programs.
Global MBA
This curriculum, which goes by the name of "International MBA," is intended to provide students with the knowledge and abilities necessary to manage diverse business sectors in a variety of roles in a worldwide setting.
Best Universities for MBA International Students
You may learn more about some of the top Swiss colleges that provide MBA programs to overseas students by reading the information provided below. Check their websites periodically because the application deadlines could vary each year.
American University in Switzerland
An institution of higher learning for global business is the American University in Switzerland. It provides business programs at the bachelor's, master's, and doctoral levels and is located in La Tour-de-Peilz, Switzerland.
AUS claims that among other organizations, the European Council for Business Education and IACBE have also approved their business programs (ECBE).
Undergraduate tuition is CHF 18,000 per year, graduate tuition is CHF 15,000 per year, and postgraduate tuition is CHF 20,000 per year.
IMD Business School
One of the top business schools in Switzerland is IMD. It has more than fifty open, online, and degree programs and is based in Lausanne. For over 15 years, it has been listed as one of the top five executive education programs in the world, and for the past eight years, it has also been in the top three.
IMD has received accreditation from AACSB, EFMD, and AMBA, earning it the triple crown. Furthermore, it has received top rankings from publications like Forbes, Financial Times, The Economist, and others.
Universität St. Gallen School of Management
On our ranking of the top MBA programs in Switzerland, HSG is ranked second. It is both the most distinguished public university in all of German-speaking Europe and the public institution with the highest ranking in Switzerland.
In 2019, the Financial Times placed this institution fourth among the best European Business Schools. HSG collaborates with 200 colleges globally, offering its students several chances for exchange.
Université de Lausanne – HEC Lausanne
The University of Lausanne is well-known on a global scale. At the European and international levels, it is one of the top public institutions for integrated management and economic development.
This university receives excellent rankings in numerous worldwide rankings as a result of the caliber of its education and research. It ranks third among Western European institutions for its Executive MBA program in Management and Corporate Finance.
Universität Zurich – University of Zurich
Another prestigious university in the German-speaking world is the University of Zurich. Few Swiss universities have the reputation that it does. On both the national and international rankings, it is placed 61st overall and third among Swiss universities.
It provides a wide range of programs for its students to select from. All facets of business administration, including entrepreneurship, structure, and strategy, are covered by its areas of competence. But UZH is most recognized for its degree programs in economics, banking, and finance.
Strathclyde Business School
Since it opened its Zurich Airport campus 24 years ago, Strathclyde Business Schools has been offering an MBA program. The university's MBA program has been listed among the top MBA schools and is triple accredited by AACSB, AMBA, and EQUIS, according to the university's official website. Zurich is only one of several sites spread throughout numerous nations in the world.
Fees and Costs
In Switzerland, full-time MBA programs typically cost between CHF 30,000 and CHF 85,000 in tuition (INR 20 lacs to 60 lacs). There aren't many universities with lower course fees. Living costs range from CHF 21000 to CHF 36,000 CHF depending on the city (INR 17 lacs to 30 lacs).
Scholarships
Some of the popular MBA program scholarships offered in Switzerland to students are listed below.
- MD Alumni Club of Lausanne Scholarship
- Forté Women Scholarships
- Stewart Hamilton Scholarship
- The Staton Scholarship
- Young Leaders Scholarships
- Diversity Scholarships
- Merit Scholarships
- Financial Need Scholarships
- The CO-RO Foundation Scholarship
- The Hilti Scholarship for Women
- The Nestlé Scholarship for Women
Obtaining Employment in Switzerland with an MBA
Depending on the university you choose, they could offer their students a variety of positions in the firms and companies with which they have business relationships. According to a study by the University of St.Gallen, more than 70% of its MBA graduates have secured employment in Switzerland and are making an average income of CHF 120 466. In addition, the study reveals that 83% of graduates found work within three months of graduation.
The annual pay range for an MBA is between INR 12 lakhs and INR 72 lakhs. The Institute, number of years spent in the profession, skill levels, and many other factors all affect income. The specialty of an MBA may also influence compensation ranges. Overall, a promising academic area is the MBA program. Both professional and interpersonal skills are developed. There are several openings for MBAs in every industry.
All interested candidates can enroll in a variety of MBA programs offered by Swiss institutions. Additionally, they provide a wealth of employment prospects in Switzerland as a way of showing their graduates that they care about their future. The only thing left to do is pick which MBA program you want to enroll in and research which colleges offer it now that you are familiar with the educational institutions there.
