Seven leading US Schools - MIT Sloan School of Management, Stanford Graduate School of Business, Columbia Business School, Harvard Business School, University of Pennsylvania Wharton Business School, Haas School of Business, and UCLA Anderson School of Management, opted out of participating in the 2021 Financial Times Global MBA Ranking, causing yet another major shuffle in the top order.
In the absence of leading US Schools, INSEAD moved up three places to lead the rankings. London Business School moved up from fifth place to second place. Third place was taken by Chicago Booth, securing the top spot for a US MBA program. Yale School of Management made the largest jump in the rankings, from 14th place to 4th place, tied with IESE Business School in the Financial Times 2021 Global MBA ranking.
The ranking surveyed 143 global schools out of which the top 10 global MBA programs feature 5 US programs and 5 programs from the UK, Europe, and China.
Financial Times - Ranking methodology
The FT’s ranking methodology considers twenty factors. Since the ranking gives the highest weightage to post-MBA salary (20%) and increase in salary (20%), candidates targeting top MBA programs on return on investment will find the ranking useful.
The second-highest weighted factor is FT’s research rank, which is calculated based on the number of articles published in 50 select journals proportional to the faculty’s size.
International diversity and reach are other ranking factors considered by FT that covered post-MBA mobility (international offers), faculty’s international experience, and student’s place of origin, contributing 14% to the ranking. Faculties with Doctorates degree was the 5th factor that influenced the schools’ ranking, whereas corporate social responsibility, female students, female faculty, value for money, and even career progression didn’t have a noticeable impact on the ranking.
| Ranking Factor | Weightage |
|---|---|
| Weighted Salary | 20 |
| Salary Increase | 20 |
| FT research rank | 10 |
| International mobility | 6 |
| Faculty with doctorates | 5 |
| International faculty | 4 |
| International students | 4 |
| Value for Money | 3 |
| Career Progress | 3 |
| Aims Achieved | 3 |
| Careers Service | 3 |
| Alumni recommend | 3 |
| International course experience | 3 |
| Corporate social responsibility | 3 |
| Employed at 3 months | 2 |
| Female faculty | 2 |
| Female students | 2 |
| International board | 2 |
| Women on board | 1 |
| Extra languages | 1 |
Top 10 Ranking by Increase in Salary
Schools featuring at the bottom of the ranking could rank on top of the table when the % increase in salary was considered. These schools were international programs featuring 4 from China, 6 from the US, India, Mexico, and Singapore. With an excellent ROI record, the 1-year MBA/PGP courses attract experienced applicants with impressive career progression. The post-MBA salary matches their years of experience and attracts offers with a higher base salary.
Yale School of Management was the only top-ranking Ivy League school that was featured in the top 10 list, securing the last place for an increase in salary.
| Overall School Rank | School Name | Salary Percentage Increase |
|---|---|---|
| 32 | Fudan University School of Management | 190 |
| 64 | Shanghai University of Finance and Economics: College of Business | 189 |
| 23 | Indian School of Business | 173 |
| 84 | Ipade Business School | 173 |
| 43 | Michigan State University: Broad | 172 |
| 53 | Shanghai Jiao Tong University: Antai | 159 |
| 7 | Ceibs | 156 |
| 14 | National University of Singapore Business School | 138 |
| 11 | University of Virginia: Darden | 135 |
| 71 | Brigham Young University: Marriott | 135 |
| 60 | University of Rochester: Simon Business School | 135 |
| 47 | Pennsylvania State University: Smeal | 134 |
| 4 | Yale School of Management | 133 |
Top 10 Ranking by Weighted Salary
The dominance of US B-schools was evident in the rankings of the top 10 schools by weighted salary. Booth led the rankings with the highest weighted salary of $200,287. IIM Ahmedabad, INSEAD, CEIBS, and London Business School were the only non-US schools in the top 10 rankings, securing a second, fourth, eighth, and tenth place, respectively.
| School Name | Weighted Salary |
|---|---|
| University of Chicago: Booth | $200,287 |
| Indian Institute of Management Ahmedabad | $192,390 |
| Northwestern University, Kellogg School of Management | $190,975 |
| INSEAD | $188,432 |
| Yale School of Management | $186,887 |
| Dartmouth College: Tuck | $182,988 |
| University of Virginia: Darden | $179,176 |
| Ceibs | $178,558 |
| Duke University's Fuqua School of Business | $177,895 |
| London Business School | $177,234 |
Top 10 Ranking by Career Aims Achieved
Career progress, a ranking factor, is calculated based on the change in seniority, size of the company where alumni work now, and data from 2017 – a combination that might not give an updated perspective in a post-pandemic job market. Aims achieved – the degree to which alumni fulfilled their goals, is another ranking factor. Both the factors contributed to 6% towards the total ranking score.
Babson College: Olin’s experiential learning-focused MBA was the only top-ranking US program to have made it into the top 10 rankings by career progress, at third place. Institutions from China (3), India (3), Europe (2), and Mexico dominated the remaining places in the rankings. It is uncertain whether the applicants to these schools had a realistic perspective about post-MBA career opportunities or if the local opportunities in ‘growth’ economies helped achieve their career goals.
| Career Progress Rank | School Name |
|---|---|
| 1 | Shanghai University of Finance and Economics: College of Business |
| 2 | Indian Institute of Management Ahmedabad |
| 3 | Babson College: Olin |
| 4 | Indian Institute of Management Indore |
| 5 | Iese Business School |
| 6 | Shanghai Jiao Tong University: Antai |
| 7 | Indian Institute of Management Calcutta |
| 8 | Ceibs |
| 9 | HEC Paris |
| 10 | Ipade Business School |
The FT’s salary-intensive rankings vs. the US News peer recommendation-intensive rankings paint different pictures. Weighted salaries can be elusive as they vary by economies, geographies, industry, and career levels. The career progression and aims achieved rankings should also be considered with a pinch of salt since applicants have diverse expectations depending on where they are in their life and career. However, there is no denying that those looking at short-term ROI based on an immediate salary increase - both by percentage and median base salary, while also expanding the search to schools in the UK, Europe, India, and China will find FT Global MBA ranking extremely valuable.
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