On on international level there is no comparison UC3 is a really respected university internationally, HWR is not even well known in East Germany. I am not sure that there are more employment openings in Berlin than in Madrid. I am in Madrid today, and it seems like a much more vibrant city.

However, I would really suggest you look for an MBA in a city where there is economic growth.

Salaries will be higher from UC3. HWR MBAs will have similar salaries to MSc students.

I really recommend you invest in the best school you can get into. The RoI will be the best investment you will ever make.

I guess Duncan is right about the Roi, but don't forget that Spain is having a much tighter job market than Germany.

"Among the Member States, the lowest unemployment rates were recorded in Austria (4.2 %), the Netherlands (4.9 %), Luxembourg (5.2 %) and Germany (5.7 %), and the highest rates in Spain (23.6 %) and Greece (21.0 % in December). "

http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/Unemployment_statistics

However, the unemployment in Eastern Germany/Berlin is higher than the German average (around 12 per cent in Berlin).

By the way, Berlin is a vibrant and enjoyable city.

Hi Martin. RoI stands for return on investment. For example, the CEU MBA has an average base salary of 47,000. With the MBA at Vlerick, according to the FT, the average compensation is 72,348 euro. Over ten years, the CEU person would have earned at least 470,000 euro for an investment of 12,000. At Vlerick it would be 723,500 for an investment of 31,500. An additional investment of 20,000 euro more produces over 250,000 more in income. If you can get into a school with a higher salary then, from a financial point of view, that is one of the best investment you'll every make.

You are unwise to limit yourself to programmes around the cost of Madrid.

<blockquote>I guess Duncan is right about the Roi, but don't forget that Spain is having a much tighter job market than Germany.</blockquote>
Indeed, but I would be wary of confusing the broader European economic trends with the more micro ones (ie. MBA hiring.) We all know that Europe as a whole and Spain specifically both have high unemployment. But that doesn't seem to be stopping MBA grads from top programs there from finding jobs. Look at the most recent IE jobs report: even in the midst of the crisis and virtually perpetual economic uncertainty, 1 in 2 American grads there were able to land jobs in Europe - and this is pretty much unchanged from before the crisis.

I know that schools in Spain are getting a bad rap on this board - mainly due to economic uncertainty in the region - but my thinking is that a driven MBA with a specific skill set who wants to land a job there, probably can if he sets his mind to it.

Spanish schools are *great* -- if you want to work in Latin America. Salaries even for IESE grads are 25% lower in Spain than they are in central Europe. Just 25% of IE students had jobs on graduation, and only 27% found work in Spain. Half of the *North* Americans found work in Europe (probably not in Spain, and only 16% of the Latin Americans.

If the results are this hard at top schools, what must they be at unranked schools like UC3? Motivation isn't enough: as Ralph says the students with the best outcomes have specific skills and will be less likely to be changing sector. And the big difference will be the quality of the school.