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Since attending business schools may be expensive, many students depend largely on international rating publications. In this post, as part of our series on the techniques used by top providers, we'll talk about the FT MBA Ranking, Masters in Finance, and Masters in Management.
When looking for an MBA or business school rankings, Financial Times is one of the most reputable brands. Since FT has been rating full-time MBA schools since 1999, the reliability of the rankings it produces may be taken for granted. Every year, Financial Times publishes 7 rankings. These rankings use a similar technique. Among the FT MBA Ranking, top seven ranks are
- Global MBA
- Executive MBA
- Masters in Management (MIM)
- Masters in Finance
- Executive Education
- European Business Schools
- Online MBA
The Financial Times has significantly changed the playing field with the announcement of its global rankings of the top MBA programmes. Several top-ranked programmes dropped significantly, while others significantly improved.
Columbia MBA Program (ranked eighth in 2020), currently ranked one, is programmes that advanced significantly in the rankings . The findings from last year were skewed since five of the top U.S. programmes (Harvard, Stanford, Wharton, MIT, and Columbia) were not included at all, which contributed to the enormous variances.
Other highly regarded institutions that saw significant drops in the rankings include UVA Darden, Tuck (Dartmouth), and London Business School. In actuality, 69 of the 91 colleges that were listed dropped in the list, several of them by double digits.
Here is a YouTube video on How to choose best colleges based on FT MBA Rankings.
Many of these institutions' rankings appeared to be on a roller coaster compared to last year, with some soaring to unheard-of heights and others dropping by as many as 20 points.It's critical to put these rankings in context, as we have previously advised. They are based on a variety of factors that are mostly unrelated to or unrelated to the quality of the curriculum themselves.
Top Business Schools
According to FT MBA Ranking 2023, the top 20 colleges are :
| Rank | College | Country | Weighted Salary |
|---|---|---|---|
| 1 | Columbia Business School | US | 226,359 |
| 2 | Insead | France/Singapore | 198,363 |
| 3 | Iese Business School | Spain | 181,270 |
| 4 | Harvard Business School | US | 235,019 |
| 4 | Stanford Graduate School of Business | US | 248,669 |
| 6 | SDA Bocconi School of Management | Italy | 192,815 |
| 7 | University of California at Berkeley: Haas | US | 213,321 |
| 8 | Cornell University: Johnson | US | 193,293 |
| 9 | Northwestern University, Kellogg School of Management | US | 209,337 |
| 10 | Yale School of Management | US | 196,659 |
| 11 | Duke University's Fuqua School of Business | US | 196,754 |
| 11 | MIT: Sloan | US | 207,100 |
| 11 | University of Chicago: Booth | US | 218,068 |
| 14 | UCLA Anderson School of Management | US | 192,256 |
| 15 | Dartmouth College: Tuck | US | 201,451 |
| 16 | London Business School | UK | 182,254 |
| 17 | HEC Paris | France | 172,393 |
| 17 | University of Virginia: Darden | US | 191,160 |
| 19 | New York University: Stern | US | 198,024 |
| 20 | Ceibs | China | 177,132 |
Nine of the top ten MBA programmes for 2022 remained in the top ten this year, while only Northwestern Kellogg MBA Program saw an improvement in rankings despite the COVID absentees from the previous year returning. Richmond continues, "The FT's rating is usually intriguing since it tries to include institutions from all geographical areas and has some quite odd deck-shuffling inside the top tier.
Even yet, there are still a number of predictable results when we look at the areas within the rankings, especially if we consider the basic "tiers" or groups of schools and overlook some of the competition inside tiers (M7, S7, etc.). For example, the initial 18 U.S.All of the standard suspects for MBA schools are included in the list, which follows the market's highly regarded US News rating.
The same phenomena, he writes, "may be observed with European schools in that many would agree that the top 8 European programmes represented in the ranking do in fact represent the top 8 offers in that market - even though some may want to question the exact ordering of the group."
The fact that Stanford GSB is among the top five now may come as a surprise, but Richmond believes that this ranking makes sense given how much emphasis is placed on alumni earnings. Since so many Stanford grads pursue startups and entrepreneurship, they don't have a large, traditional wage to point to in their early careers, which has a substantial weight (20) in the FT MBA ranking.
But it comes as no surprise that Columbia is at the top. Due in large part to the high incomes alumni earn, which is an important factor for The FT MBA ranking, Columbia has continuously rated at the top of the list in prior years. With the exception of those employed in lower-paying fields, Wharton alums reported the highest average yearly salary in 2022. Alumni of the Columbia School made an average income of $226,359 three years after graduation. In contrast, the 100 institutions rated this year's alumni earned an average income of $161,000 per year.
Top Ten U.S. MBA Programs
The FT MBA ranking considers business colleges all over the world. The top 10 MBA Colleges in USA market in 2022 appear very different from those in 2022:
- Columbia Business School
- Harvard Business School
- Stanford Graduate School of Business
- University of California at Berkeley: Haas
- Cornell University: Johnson
- Northwestern University, Kellogg School of Management
- Yale School of Management
- Duke University's Fuqua School of Business
- MIT: Sloan
Top 10 MBA Programs in Europe and Asia
The top 10 MBA programmes in Europe and Asia, just for schools outside the United States, are as follows:
- INSEAD
- London Business School
- Iese Business School
- HEC Paris
- SDA Bocconi School of Management
- CEIBS
- National University of Singapore Business School
- University of Cambridge: Judge
- IMD Business School
- University of Oxford: Saïd
Regarding the global rankings, Richmond adds, "When it comes to European MBA schools, we find many recognizable names at the top of the pack, including INSEAD , LBS , IESE , HEC , and Bocconi" . It's interesting to note that Cambridge, IMD, and Oxford all trailed the top by a small margin and all dropped positions this year. Oxford, in particular, lost a whole 10 positions from its 2020 rating and 14 positions from its 2021 performance
Ranking Methodology
The FT MBA Ranking uses 20 distinct criteria to evaluate the top 100 MBA programmes worldwide. Eight of these—representing 61 percent of the ranking—are alumni-based, requiring at least a 20 percent response rate and a minimum of 20 replies overall for admission. Financial Times took the Covid-19 pandemic's interruption into account when looking at schools with lower response rates.
For additional information on the ranking system, go here. Twenty distinct data metrics are used by The Financial Times, which are further grouped into nine indicators with varying weights.
| FT MBA Ranking Indicators | Weightage |
| Compensation | 40% |
| Internationalisation | 20% |
| Faculty quality | 15% |
| Employment Outlook | 8% |
| Gender parity | 5% |
| Learning | 3% |
| Return on investment | 3% |
| Alumni opinion | 3% |
| Career services rating | 3% |
Compensation:
Three years after their degree, FT MBA Ranking takes into account the pay of MBA alumni. Three years after graduation, FT calculates the average pay for MBA graduates and modifies it to account for sectoral diversity. This factor is given the most weight by FT when determining MBA rankings. The median difference between MBA graduates' incomes three years after graduation and their pre-MBA salaries is also taken into account by FT.
Internationalization-
Top universities throughout the world are analysed based on this crucial feature, internationalization. This statistic takes into account the graduates' nationalities as well as the nations in where they worked. The diversity of nationalities represented in the schools' current MBA class is another factor considered by FT MBA Ranking. FT also takes into account the faculty members' variety of citizenship at business schools. Study excursions, research endeavours, student exchange programmes, and international internships are also measured by FT for this aspect.
Faculty:
Using this component, FT MBA Ranking examines the proportion of full-time faculty members with doctorates and the number of papers they have published in 45 top-tier academic publications worldwide.
Employment Outlook:
This crucial indicator examines the variation in the quality of positions held by MBA graduates before and three years after graduation. Three months after graduating from their MBA programme, the MBA class' employment rate is also examined by FT MBA Ranking.
Gender Parity:
Although this is not a key determining element when evaluating business schools, the Financial Times does take into account the proportion of female professors in an educational institution. Schools with 50% female faculty members receive the best rating. FT MBA Ranking examines the proportion of female students enrolling in the current MBA class in addition to teachers.
Learning:
The time spent educating students about social issues including CSR initiatives and environmental concerns.
Return on Investment:
The most crucial element in determining an MBA graduate's compensation three years after graduation.
Alumni Opinion:
This intriguing aspect considers alumni opinions and inquires about the top three business schools from which they will source MBA graduates.
Rating for Career Services:
This indicator evaluates the school's career services, such as internships, networking, recruiting, or career counselling, in addition to its teaching quality. The career of an MBA graduate depends on this extra service.
How Does the Financial Times Rank?
Every publication of rankings uses a distinct set of standards for listing colleges for rankings. FT programmes must be at least four years old, have international accreditation, and produce at least 30 graduates every year. Additionally, the institution must achieve a minimum response rate of 20% for FT's yearly alumni survey.
Here are five characteristics of a top-rated MBA programme:
1. Successful career achievement
Top positions and high graduation incomes are indicators of successful career outcomes. Even though some MBA rankings take into account a school's competence in an area like entrepreneurship, the majority still place the biggest emphasis on post-MBA salaries.
With graduates able to raise their salaries by a staggering 203% three years after receiving their MBA, the Fudan MBA is ranked second internationally in the most recent Financial Times rating in terms of income increase percentage.
The Fudan MBA also ranks sixth for Career Progress, which is determined by changes in students' level of seniority and the size of the business they work for after receiving their MBA. With an average pay of over $131,000, this MBA is among the finest in mainland China.
The Fudan MBA Career Development Office, the first of its type in China, supports Fudan MBA students by offering career planning assistance, CV and interview seminars, and individual counselling.
2. Global scope
Today, practically all jobs require you to be able to operate abroad and deal with various working cultures. Rankings for MBA programmes also consider international experience. Students at Fudan, where 30 to 40 percent of the faculty are foreigners, benefit from the MIT connection by collaborating on global projects and having access to two global alumni networks.
In partnership with institutions like Yale University, London Business School, and Tel Aviv University, Fudan provides courses abroad. MBA students can select from more than 90 foreign business schools' international exchange programmes.
A global network of business schools is beneficial for recruiting as well. The FT MBA Rankking gives Fudan a high ranking for the percentage of alumni who say they would recruit MBA students from the institution.
3. Practical learning opportunities
Today's classroom lectures are only one aspect of education. Employers and students are looking for experiential learning opportunities that allow for the application of theory.
The Fudan MBA Business Consultation Lab is one of several Integrated Action Learning Projects (iLab) that Fudan offers. In this project, MBA students serve as consultants for actual businesses, examining issues and offering answers and ideas with the aim of advancing their development.
4. Focus on innovation
The majority of companies now favour applicants with an entrepreneurial attitude, even if you are not launching your own firm. Therefore, innovation and entrepreneurship will be the primary topics covered in all top MBA programmes.
280 participants competed in 74 startup teams over the course of six months in the 2019 Fudan MBA startup competition, learning everything there is to know about starting and growing a business. The startups of the finalists concentrated on a range of industries, including artificial intelligence, e-commerce, pharmaceuticals, consultancy, and public welfare.
5. Curriculum change
Graduate management education must adapt to how technology challenges many sectors and professions. Business schools must regularly alter their programmes in order to remain relevant and successful in MBA rating tables.
This entails including new subjects and educational approaches. Fudan University introduced six majors in 2015, covering hot topics like e-commerce and big data as well as finance, marketing, innovative transformation, industrial analysis and investment management, and business decision-making and leadership. Fudan University has focused on incorporating more online learning into its MBA programme.
To expand their learning and meet the rising need from companies for individuals who are both business-savvy and possess a high level of emotional intelligence, MBA students can also select from a variety of distinctive humanities courses.
