Understanding Business School Accreditation

Applicants often see logos for AACSB, EQUIS and AMBA on business school websites. These signal that an independent body has reviewed the school or program against its standards, but they do not mean the same thing, and they do not all cover the same level. This guide explains the differences and how to check what a specific accreditation covers.

Accreditation in general

Accreditation is a voluntary, non-governmental quality review in which an external body assesses a school or program against published criteria. AACSB describes its accreditation as a voluntary, nongovernmental process that includes an external review and periodic renewal. The word "accredited" is not enough on its own: you need to know who accredited what, and whether the accreditation currently applies to the program you are considering.

Accreditation is not a measure of how suitable a program is for you, and it is not a guarantee about cost, career results or admission. Treat it as one piece of evidence among several.

Three accreditors, three scopes

AACSB

The Association to Advance Collegiate Schools of Business accredits business education. According to AACSB, its accreditation is granted to the institution by default, and all of the institution's business and management degree programs within the defined scope are included in the review. Schools can instead enter the process as a single business academic unit if they meet its conditions. AACSB says program scope normally includes business degrees at the bachelor's level or higher, and it applies content thresholds: programs where 50 percent or more of a post-baccalaureate degree relates to business disciplines are in scope, with exclusions possible by request. AACSB reports that the business school is reviewed every five years.

What this means in practice: AACSB accreditation is anchored on the institution or the accredited business unit. It is not a statement about one individual MBA, and the exact scope depends on how the accredited entity is defined.

EQUIS (EFMD)

EQUIS, from EFMD Global, is described by EFMD as an institutional accreditation. EFMD says it assesses a business school's overall performance, including governance, programs, internationalisation, ethics and connections with the professional world, at an institutional level. EFMD separately offers EFMD Programme Accreditation, which looks at individual programs. Therefore a school can be EQUIS accredited without every program holding a separate EFMD program accreditation. The two are described by EFMD as complementary.

AMBA

AMBA, the Association of MBAs, states that it accredits MBA, DBA and Master's programs. Its accreditation is therefore at program level. AMBA says each accredited program is reviewed every five years. AMBA also describes a joint accreditation with BGA which, according to AMBA, is a whole-school accreditation focused on positive impact, responsible management and lifelong learning. That is a separate scheme from AMBA's program accreditation.

Summary of scope

Some schools hold more than one accreditation, and the presence of one does not imply another.

Institutional or university-level accreditation is different

The accreditations above are specialized business accreditations, which are voluntary and concern business education. They are different from the institutional or regional accreditation, recognition or authorization that governments or national bodies grant to universities, such as the authority that lets a university award degrees. A university may be authorized to award degrees by a national regulator or an accreditor in its country, and that is a separate question from whether its business school holds AACSB, EQUIS or AMBA. For degree legitimacy, check the national education authority or ministry in the country where the school operates. Rules differ by country and who is responsible differs, so use official government or regulator sources, not marketing pages.

One accreditation does not automatically cover everything

When you see a logo, ask the following:

• Which entity is accredited? The university, a business school within it, or a specific program?
• Which programs are covered? An institution-level accreditation includes the programs within its defined scope, but a particular MBA variant, such as an online, executive or part-time format, may be treated differently by a different accreditor. A program-level accreditation covers only the named programs.
• Which campus? A school with several campuses, or with a partner or franchise arrangement, may have an accreditation that covers some locations and not others. Confirm the campus where you will study.
• Is it current? Accreditation is periodically renewed. A logo on a website may be out of date, and the status can change. Check the date.
• Who awards the degree? If a program is delivered with a partner institution, check which institution awards the degree and whose accreditation applies.

If an answer is not clear from the school's site, ask admissions for the exact name of the accredited entity and program, and then check it independently.

How to verify

1. Use the accreditor's own directory, not a third-party list. AACSB has a searchable list of accredited schools, EFMD lists EQUIS accredited schools and EFMD-accredited programs, and AMBA lists its accredited business schools. AACSB notes that it does not disclose schools currently in the accreditation process, so "pursuing accreditation" statements by a school cannot be checked there.
2. Search for the institution, then look at what the entry says about scope and, where given, dates.
3. Compare the name of the entry with the name of the school and campus on your offer letter.
4. Record the date you checked, because directories are updated.

What accreditation cannot tell you

Accreditation does not show tuition levels, the strength of a particular course, how a school's graduates fare, or how well a program suits your goals. For outcomes, read Comparing MBA career reports. For cost, see Understanding MBA tuition. For format questions, see How to choose an MBA.

Using this directory

Accreditation status changes over time and covers different things, so check it on the accreditor's own directory, on each program page and on the school's official website. Program pages in this directory show the source and verification date for each fact, and note what an accreditation entry covers where the accreditor states it. Browse full-time, part-time, online and executive programs, and read our methodology for how accreditation data is recorded.