Columbia Business School topped the Financial Times Global MBA ranking for the first time in 25 years of the publication’s ranking history. The Wharton School, which gained top honors last year, vanished from the 2023 ranking, which was the biggest surprise.
Only four M7 business schools, including Columbia’s surprise ascent to #1, cracked the top ten rankings. Kellogg came in ninth, while Stanford and Harvard were tied for the fourth position. INSEAD was ahead of HBS and Stanford GSB. Spain’s IESE Business School came in third. The Johnson Graduate School of Business at Cornell University, UC Berkeley Haas, and SDA Bocconi of Italy all made significant jumps to reach the top ten.
| Business School | Rank (Top MBA) |
|---|---|
| Columbia Business School | 1 |
| INSEAD | 2 |
| IESE Business School | 3 |
| Harvard Business School | 4 |
| Stanford Graduate School of Business | 4 |
| SDA Bocconi School of Management | 6 |
| University of California at Berkeley: Haas | 7 |
| Cornell University: Johnson | 8 |
| Northwestern University, Kellogg School of Management | 9 |
| Yale School of Management | 10 |
FT 2023 - MBA Ranking methodology
The FT has altered the ranking's methodology to place a stronger emphasis on diversity and sustainability. Still, more than half of the total weightage is allocated to outcome measures correlated to post-MBA salary, value for money, and career progression. Unlike other US-based publications where post-MBA salary means immediate post-MBA salary, FT evaluates post-MBA salary three years after graduation. This data continues to be an important ranking criterion (16%). To put emphasis on other aspects of management education, the weightage for salary criteria has decreased from 40% to 32%.
Value for money, a measure of social mobility that accounts for the cost of education, financial aid, and immediate post-MBA salary, has been given 5% weightage.
The ranking criterion of speaking languages other than English upon graduation has been removed.
The quality of the career service, employment three months after graduation, and alum career advancement continue to have an influence on the entire ranking. The environment is now given more attention. Schools that have recently released a public carbon emissions report complying with international standards are awarded credits for adopting short-term zero emission goals.
| FT Global MBA Ranking Factor | Weightage |
|---|---|
| Weighted salary | 16 |
| Salary increase | 16 |
| Value for money | 5 |
| Career progress | 3 |
| Aims achieved | 4 |
| Alumni network rank | 4 |
| Careers service | 3 |
| Employed at three months | 3 |
| Sector diversity rank | 3 |
| Female faculty | 3 |
| Female students | 3 |
| Women on board | 1 |
| International Faculty | 3 |
| International students | 3 |
| International Board | 1 |
| International mobility | 5 |
| International course experience | 3 |
| Faculty with doctorates | 5 |
| FT research rank | 10 |
| Carbon footprint rank | 4 |
| ESG and net zero teaching rank | 3 |
Top 10 Ranking (Increase in Salary)
Less than half of the schools in the top 10 (% salary increase) are US-based. The top 10 MBA programs include three Indian, two Chinese, four US, and one from Singapore.
Compared to the previous year, despite gaining 11 percent, Indian School of Business dropped to the second position. A closely fought position, a 207% increase in salary earned Shanghai University of Finance and Economics: College of Business to the top of the list.
University of Rochester: Simon Business School, Michigan State University: Broad, Northeastern University: D'Amore-McKim, and IIM Indore are the newcomers in the top 10 rankings.
The National University of Singapore Business School dropped from 8th to 10th position. Fudan University School of Management dropped 5 percent and took 5th place. IIM Bangalore was ranked 7th with an 18 percent gain in salary increase.
| Rank | School Name | Percentage Salary Increase | Weighted Salary ($) |
|---|---|---|---|
| 1 | Shanghai University of Finance and Economics: College of Business | 207 | 181,274 |
| 2 | Indian School of Business | 205 | 161,331 |
| 3 | University of Massachusetts Amherst: Isenberg | 188 | 131,266 |
| 4 | University of Rochester: Simon Business School | 185 | 160,913 |
| 5 | Fudan University School of Management | 178 | 138,087 |
| 6 | Michigan State University: Broad | 169 | 143,697 |
| 7 | Indian Institute of Management Bangalore | 165 | 157,514 |
| 8 | Northeastern University: D'Amore-McKim | 161 | 128,013 |
| 9 | Indian Institute of Management Indore | 160 | 143,544 |
| 10 | National University of Singapore Business School | 158 | 161,506 |
Top 10 Ranking (Career Aims Achieved)
The career goals attained are computed based on changes in location, job function, industry, and corresponding salary increases.
The pandemic has pushed the movement in employment towards healthcare and technologically focused positions. The information collected is based on alumni profiles from before the pandemic and may not accurately reflect the recent and likely trends in the next 3 years.
The degree to which graduates met their stated objectives or motivations for earning an MBA is shown by their goal-achieved survey.
More than half of the 80 schools in the rankings by career goals attained are US institutions, demonstrating the value of brand affiliation with elite institutions, alumni connections, and career goals achieved.
Stanford has led in career goals attained for years in a row thanks to the $240,000+ weighted salary in leadership functions and excellent brand recognition among international recruiters.
| Rank | School Name | Weighted Salary | Aims Achieved |
|---|---|---|---|
| 4 | Stanford Graduate School of Business | 2,48,669 | 93 |
| 43 | Michigan State University: Broad | 1,43,697 | 93 |
| 8 | Cornell University: Johnson | 1,93,293 | 92 |
| 15 | Dartmouth College: Tuck | 2,01,451 | 92 |
| 16 | London Business School | 1,82,254 | 92 |
| 26 | University of Michigan: Ross | 1,86,829 | 92 |
| 1 | Columbia Business School | 2,26,359 | 91 |
| 4 | Harvard Business School | 2,35,019 | 91 |
| 10 | Yale School of Management | 1,96,659 | 91 |
| 11 | Duke University's Fuqua School of Business | 1,96,754 | 91 |
| 11 | MIT: Sloan | 2,07,100 | 91 |
| 11 | University of Chicago: Booth | 2,18,068 | 91 |
| 14 | UCLA Anderson School of Management | 1,92,256 | 91 |
| 17 | HEC Paris | 1,72,393 | 91 |
| 17 | University of Virginia: Darden | 1,91,160 | 91 |
| 19 | New York University: Stern | 1,98,024 | 91 |
| 23 | University of Cambridge: Judge | 1,73,775 | 91 |
| 40 | University of Florida: Warrington | 1,35,921 | 91 |
| 50 | University of Texas at Austin: McCombs | 1,72,879 | 91 |
| 71 | Queen's University: Smith | 1,07,721 | 91 |
| 3 | Iese Business School | 1,81,270 | 90 |
| 7 | University of California at Berkeley: Haas | 2,13,321 | 90 |
| 9 | Northwestern University, Kellogg School of Management | 2,09,337 | 90 |
| 21 | University of Southern California: Marshall | 1,81,385 | 90 |
| 28 | University of Oxford: Saïd | 1,64,874 | 90 |
| 29 | Rice University: Jones | 1,83,332 | 90 |
| 36 | Emory University: Goizueta | 1,70,320 | 90 |
| 53 | Arizona State University: WP Carey | 1,36,385 | 90 |
| 2 | Insead | 1,98,363 | 89 |
| 32 | Georgetown University: McDonough | 1,85,936 | 89 |
| 32 | International Institute for Management Development (IMD) | 1,71,116 | 89 |
| 32 | University of Washington: Michael G Foster | 1,70,234 | 89 |
| 35 | University of North Carolina: Kenan-Flagler | 1,69,416 | 89 |
| 44 | Vanderbilt University: Owen | 1,65,894 | 89 |
| 45 | University of Rochester: Simon Business School | 1,60,913 | 89 |
| 46 | Alliance Manchester Business School | 1,39,428 | 89 |
| 56 | Mannheim Business School | 1,35,560 | 89 |
| 61 | University of Georgia: Terry | 1,31,014 | 89 |
| 64 | Georgia Tech Scheller College of Business | 1,49,721 | 89 |
| 67 | University of Toronto: Rotman | 1,16,871 | 89 |
| 74 | Texas A & M University: Mays | 1,35,261 | 89 |
| 83 | McGill University: Desautels | 1,02,622 | 89 |
| 92 | Brigham Young University: Marriott | 1,41,100 | 89 |
| 37 | Imperial College Business School | 1,51,143 | 88 |
| 42 | HKUST Business School | 1,55,211 | 88 |
| 49 | Carnegie Mellon: Tepper | 1,76,091 | 88 |
| 57 | University of Maryland: Smith | 1,50,997 | 88 |
| 59 | University of Texas at Dallas: Jindal | 1,30,808 | 88 |
| 68 | WHU – Otto Beisheim School of Management | 1,23,410 | 88 |
| 73 | Boston College: Carroll | 1,47,515 | 88 |
| 75 | Boston University Questrom School of Business | 1,41,815 | 88 |
| 84 | Western University: Ivey | 1,15,031 | 88 |
| 85 | The Lisbon MBA Catolica | Nova | 1,09,899 | 88 |
| 25 | National University of Singapore Business School | 1,61,506 | 87 |
| 27 | ESCP Business School | 1,30,888 | 87 |
| 30 | Esade Business School | 1,57,209 | 87 |
| 31 | Washington University: Olin | 1,62,694 | 87 |
| 41 | HKU Business School | 1,32,496 | 87 |
| 47 | Edhec Business School | 1,30,039 | 87 |
| 52 | Indian Institute of Management Bangalore | 1,57,514 | 87 |
| 59 | University of St Gallen | 1,42,148 | 87 |
| 63 | Rotterdam School of Management, Erasmus University | 1,23,260 | 87 |
| 71 | University of Notre Dame: Mendoza | 1,44,794 | 87 |
| 78 | Northeastern University: D'Amore-McKim | 1,28,013 | 87 |
| 90 | Tias Business School, Tilburg University | 94,786 | 87 |
| 20 | Ceibs | 1,77,132 | 86 |
| 39 | Indian School of Business | 1,61,331 | 86 |
| 48 | Fudan University School of Management | 1,38,087 | 86 |
| 54 | University of California at Irvine: Merage | 1,47,491 | 86 |
| 58 | George Washington University | 1,46,118 | 86 |
| 95 | Babson College: Olin | 1,42,871 | 86 |
| 99 | University of California at Davis | 1,34,790 | 86 |
| 6 | SDA Bocconi School of Management | 1,92,815 | 85 |
| 22 | IE Business School | 1,65,391 | 85 |
| 38 | Nanyang Business School, NTU Singapore | 1,50,145 | 85 |
| 51 | Indian Institute of Management Ahmedabad | 1,86,420 | 85 |
| 78 | University of Pittsburgh: Katz | 1,43,620 | 84 |
| 95 | AGSM at UNSW Business School | 1,14,803 | 84 |
| 98 | Frankfurt School of Finance and Management | 1,02,092 | 84 |
FT Global MBA Ranking 2023 - Summary
In FT MBA Ranking's 25th year, US business schools dominate the top of the global MBA rankings, led for the first time by Columbia Business School.
Seven of the top 10 business schools, including Harvard, Stanford, and Berkeley Haas, are located in the US. INSEAD and HEC Paris bring France to the top of the list, while IESE and SDA Bocconi are outliers representing Spain and Italy, respectively.
The weightage for compensation has been reduced from two-fifths to less than one-third in this year's list, and greater emphasis is placed on diversity and sustainability.
The University of Virginia's Darden received the top score for its carbon footprint reduction initiatives.
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