Planning for a future career in business requires thoughtful consideration, particularly if you want to be a top earner. Part of planning your strategy should include a lot of research into the different colleges and universities that have schools of business. If you want to attend one of the highest ranked business schools, it will take more than good grades to gain admission. For the majority of them, you will need to have a well-rounded education with excellent references and a healthy amount of extracurricular activities.

This article provides you with a list of the world’s best business schools and their annual tuition costs. The ratings are based on a number of different criteria that primarily focus on the success and earnings of students who have recently graduated from these institutions.

The Top 10 Schools

Based on rankings as established by independent news sources, the following business schools are thought to be the best in the world.

• London Business School – London, England. Annual tuition costs depend on the specific program of choice, but the average is £22,550.
• Wharton Business School (University of Pennsylvania) – Philadelphia, Pennsylvania. Annual tuition costs are approximately $50,000.
• Harvard Business School – Boston, Massachusetts. Annual tuition costs are approximately $76,000.
• Stanford University Graduate School of Business - Stanford, California. Annual tuition costs are $139,000.
• Insead - Fontainebleau, France. Annual tuition costs are approximately €38,000.
• Columbia Business School - New York, New York. Annual tuition costs are approximately $144,000.
• IE Business School - Madrid, Spain. Annual tuition costs are approximately €49,000.
• MIT Sloan School of Management - Cambridge, Massachusetts. Annual tuition costs are approximately $77,000.
• Booth School of Business (University of Chicago) – Chicago, Illinois. Annual tuition costs are approximately $134,000.
• Hong Kong UST Business School - Hong Kong. Annual tuition costs are approximately $80,000.

Other Top-Rated Schools

In addition to the schools listed above, there are a number of other business schools throughout the world that have exceptional programs. The IESE Business School at the University of Navarra in Barcelona, Spain consistently ranks in the top 20 schools in the world. The Indian School of Business in Andhra Pradesh, India is currently ranked number 12 in the world.

Two business schools that enjoy excellent reputations are New York University’s Stern School of Business in New York, New York, and Dartmouth College’s Tuck School of Business in Hanover, New Hampshire. These institutions are currently tied at a global rating of 13 for quality of education and student success after graduation.

IMD Business School in Lausanne, Switzerland is currently ranked at number 15 in the world. The Yale School of Management in New Haven, Connecticut follows closely behind at number 16; a rank that it has held consistently for the past three years. Rounding out the top 20 is Oxford University’s Said Business School located in the United Kingdom, and HEC Business School in Paris, France.

For additional information and a complete listing of the best business schools in the world, see the Financial Times.