Head to head
Hanken School of Economics vs Universidad Carlos III de Madrid
The Hanken School of Economics and Universidad Carlos III de Madrid Master in Management programs, compared side by side on the numbers that decide it — ranking, fees, salary, selectivity and class profile.
Hanken School of Economics
Universidad Carlos III de Madrid
FT ranking 2025
#60
#61
QS ranking 2025
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Tuition
Free for EEA/EU/Swiss students; €15,000/year (€30,000 total) for non-EEA students
€9,000 (EU) / €13,500 (non-EU) for the 60-ECTS programme, full-time
Median salary
$67k
$68k
Employment rate
94%
87%
GMAT range
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—
Duration
24 months
12 months
Class size
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60
Average age
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International
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80%
Female
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Location
Helsinki, Finland
Madrid, Spain
The short version
- On the Financial Times 2025 ranking, Hanken School of Economics (#60) sits ahead of Universidad Carlos III de Madrid (#61).
- On graduate salary, Universidad Carlos III de Madrid leads at $68k.
- On tuition, Universidad Carlos III de Madrid is the more affordable option at €9,000 (EU) / €13,500 (non-EU) for the 60-ECTS programme, full-time.
- Geographically they are a different bet entirely: Hanken School of Economics in Finland, Universidad Carlos III de Madrid in Spain.
Rankings and salary are only part of the decision — fit with your target career, location, language, and cost of living usually matter more. Read each program in full before deciding.
Frequently asked
Is Hanken School of Economics or Universidad Carlos III de Madrid ranked higher?
- On the Financial Times 2025 Masters in Management ranking, Hanken School of Economics places #60 and Universidad Carlos III de Madrid #61, so Hanken School of Economics ranks higher. A few places on one table rarely settle the decision, though — programme fit, location and cost usually matter more than the gap.
Which is more affordable, Hanken School of Economics or Universidad Carlos III de Madrid?
- Tuition is Free for EEA/EU/Swiss students; €15,000/year (€30,000 total) for non-EEA students at Hanken School of Economics and €9,000 (EU) / €13,500 (non-EU) for the 60-ECTS programme, full-time at Universidad Carlos III de Madrid. Compare like for like before concluding — headline tuition can mix EU/EEA and non-EU rates — and add living costs in Helsinki versus Madrid, since the lower tuition is not always the cheaper city overall.
Which has higher graduate salaries, Hanken School of Economics or Universidad Carlos III de Madrid?
- Universidad Carlos III de Madrid reports the higher graduate salary ($68k) against $67k at Hanken School of Economics. Treat headline salary figures as indicative: they reflect each cohort's industry mix and how the school surveys alumni as much as raw earning power.
Do you need the GMAT for Hanken School of Economics or Universidad Carlos III de Madrid?
- Hanken School of Economics generally expects a GMAT or GRE; Universidad Carlos III de Madrid has an admission route that does not require a GMAT or GRE. Test policies change each cycle, so confirm the current requirement on each school's own admissions page before assuming you can skip it.
Should I choose Hanken School of Economics or Universidad Carlos III de Madrid?
- There is no universal winner. The right pick depends on your target career, where you want to live and work (Helsinki, Finland versus Madrid, Spain), the language of instruction, and your budget. Read both full profiles, weigh fit over a handful of ranking places, and if you are still torn, our admissions guide walks through building a shortlist you can defend.