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Top 8 Best Business Schools in Scandinavia in 2024

Year after year, Scandinavian countries are ranked among the happiest in the world. Sweden, Denmark, Norway and Finland offer beautiful nature, unique culture, and an almost unbeatable quality of life. And don’t forget the Nordic countries’ world-leading education systems!

Scandinavian countries are renowned for providing quality education that is highly student-oriented, equal, and affordable. It’s no surprise then that the region is home to an assortment of well-ranked business schools that can help further your business career. Keep reading to learn about the best business schools in Scandinavia below.

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Top business schools in Scandinavia

There are plenty of top business schools located in Scandinavia and many of these are featured in major business school rankings.

Rankings are often a good starting point when choosing the right business school - they are often also where company recruiters look to get an idea of the quality of education. But it’s important to note that rankings are also fallible as they can’t take into account your individual circumstances or reflect in what kind of environment you would be most successful.

Make sure to view rankings tables with a critical eye and rely on only the most reputable rankings as part of your decision-making process. One of these sources is the Financial Times - here are the best Scandinavian business schools as they place in the FT top European Business School Rankings:

The above ranking is a good start, but as it is somewhat limited in scope, it overlooks a lot of good universities and their Business faculties. Here are more good business schools in Denmark, Sweden and Norway worth checking out:

• Aarhus University School of Business and Social Sciences (BSS), a faculty at Aarhus University (which is generally ranked among the world's top 100 universities) 
• Linnaeus University
• Malmö University
• Stockholm Business School (part of Stockholm University)
• University of Stavanger

Tuition fees

The typical tuition fees of Scandinavian universities can vary depending on where you come from and what Business degree you’re looking for:

• In Denmark, Finland, Norway, and Sweden, Business Bachelors and Masters are generally tuition-free for students from the EU/EEA and Switzerland (with only a few exceptions). You’ll also study for free if you’re participating in an exchange program (or rather: for no additional fees beyond what you’re paying at your home university).
• However, international non-European students have to pay tuition fees that typically range from €8,000 to €20,000 for MA/MSc programs and €4,000 to €18,000 for BA/BSc programs.
• MBA programs are more expensive, especially Executive MBAs for students with work experience. At premier institutions like Copenhagen Business School or Stockholm School of Economics you can expect upwards of €50,000 in fees.

Triple-accredited business schools

Beyond rankings, accreditations awarded by specialized accreditation providers are a reliable seal of quality. The most respected ones for business schools are AACSB, AMBA, and EFMD/EQUIS.

Having all three of these accreditations indicates that a school is providing education of the highest quality and standard. This is also known as having a “triple crown”.

The following business schools in the Nordics are accredited by AACSB, AMBA, and EFMD/EQUIS:

• Aalto University (Finland)
• Aarhus University BSS (Denmark)
• BI Norwegian Business School (Norway)
• CBS Copenhagen Business School (Denmark)
• Hanken School of Economics (Finland)
• Lund University (Sweden)
• University of Gothenburg (Sweden)

English requirements at business schools in the Nordic countries

Many Northern European universities offer Business Bachelor’s and Master’s programs that are fully in English. To be admitted to one of these programs, proof of high-level proficiency in English is usually required.

Make sure to check university websites and degree pages for the specifics so that you can plan and prepare for your tests in time. Generally speaking, with an IELTS score of 7.0 or higher and a TOEFL iBT of 100 or more you are definitely on the safe side; and most schools also accept an IELTS of 6.5 and TOEFL iBT of 90.

In Sweden, language test score requirements are grouped as, for example, “English 6” or “English 7” and that corresponds to certain minimum scores in IELTS, TOEFL etc.

Other admissions requirements

Language skills are important, but business schools in Northern Europe frequently require students to fulfill additional admission requirements. You’ll typically also need a convincing motivation letter / cover letter, sometimes a good GMAT score or GRE score, reference letters and other supporting documents that help you stand out from other qualified applicants.

Every business school is different, and so are their specific application processes and admission requirements. Always make sure to check each school’s particular application process, and do it in time so that you know what needs to be submitted by what date.

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Author: Leonardo Carlo Calisse

Leonardo Carlo Calisse knows life as an international business student and applicant. After performing in the top 8% globally in his International Baccalaureate (IB) at The International School Nido De Aguilas, he received offers from some of the UK’s top universities, including St Andrews and Exeter. Eventually, he went on to study at Tilburg University (NL), during which he went on an exchange to the University of South Carolina (USA). After receiving MSc offers from HEC Paris, Bocconi, and ESSEC Singapore, he pursued a Master's in Innovation Management & Entrepreneurship at the highly coveted Esade Business School (Spain). He also co-founded Source Humanitarian Network, an NGO that strives to teach digital skills to refugees. Leonardo currently works as a Communications & Innovation Consultant for various companies.