Universities have a significant effect on the further progress of future generations in terms of education, which is later reflected in the future business profiles of individuals. Each student makes a decision in which institution of higher education to continue their education and thus define their future profession. Students' perception of the positioning of the university's brand depends on various factors like the personality of the brand, external prestige and reputation of the faculty. Brand personality includes social components that influence the emotions of users. External prestige is an element that is observed through the perception of individuals, which is a reflection of the way the university communicates with the wider public while the reputation is formed through communication with the public, including direct stakeholders operating within the university. All three factors have a positive relationship with the brand image, so with their help you can build an good brand image that will present the university in the best possible way. Therefore, the main goal of the research is to analyze and understand the role of the mentioned factors in building the brand image in higher education. It is considered how satisfied the students are with their choice of faculty and what their opinions are about the three components of the University of Zagreb - Faculty of Economics Zagreb, Faculty of Law Zagreb and Faculty of Electrical Engineering and Computer Science. The research was conducted on the sample of 100 former and current students of the selected faculties. The obtained results indicate that positive brand personality, reputation and external prestige play a positive role in building the brand image of the university. For this very reason, a lot of investment is needed in the mentioned factors and the faculty brand so that students can convey their satisfaction to future generations and so that the image of the brand becomes one of the criteria for admission to a particular faculty.