HEC Paris Takes Over First Place In The Financial Times Master’s In Management Ranking


To rank Master’s in Management programs, the FT weighs 19 different metrics, with the most emphasis placed on graduate pay that gets a 26% weighing for average salary three years after graduation and average increase in salary from a grad’s immediate salary vs. three years ago. That is a slight decrease from previous years because the methodology was modified this year to increase the importance of other metrics, including new assessments of the value of alumni networks which appeared to help London Business School which earned the highest scores for the value of its alumni network in the estimation of those who completed alumni surveys.

The ranking also attempts to measure the commitment by schools to set a net zero emissions target, publish a carbon audit report and teach sustainability-related topics in core courses. Lund University School of Economics and Management (Lusem) in Sweden was ranked first on ESG, followed by newcomer IESE Business School. SDA Bocconi ranked first for its combined score on the publication of a carbon emissions audit and a net zero emissions target, just ahead of IE Business School in Spain and BI Norwegian Business School, tied for second place.

Mostly, however, the methodology also puts a significant focus on the international dimensions of a program. A metric called “international work mobility rank” is given six percentage points, while international course experience is given an equal weight. Add in the weights given to a program for the number of international students in the program, as well as the international composition of the faculty and the program’s board (another 11 percentage points) and you understand why the vast majority of U.S. business schools opt out of this ranking. The methodology clearly favors schools in Europe where countries are generally no larger than many states in the U.S.

One reported metric that isn’t counted in the ranking may very well be the single most important: overall graduate satisfaction with their program and their degree. On this measurement, no school beats Tsinghua University in China which notched a 9.80 satisfaction rating on a scale of one-to-ten with ten being perfect. If you are skeptical of that extraordinarily high score on an alumni survey, especially one from Chinese students, the alumni of the University of St. Gallen’s program awarded that school a second-best 9.72 score. The European programs earning the highest levels of satisfaction after St. Gallen were Austria’s Vienna University of Economics and Business (9.65), Germany’s Otto Beisheim School of Management (9.53), and Britain’s London Business School (9.45). Some 41 of the Top 100 programs were given scores of 9.0 or above. The lowest ranked school for overall satisfaction, with a 7.63 score, was the MIM program at the University of British Columbia: Sauder.

The 2013 Financial Times Top 26-50 Masters In Management Programs 

2023 Rank & School Y-O-Y Change 2022 Rank Program Location Average Salary Three Years After Graduation Employed At 3 Months
26. Catolica Lisbon School of Business & Economics +2 28 International MSc in Management Portugal $78,629 90%
27. Audencia +20 47 MSc in Management-Engineering France $92,008 100%
28. Warwick Business School -1 27 MSc Management U.K. $72,979 95%
29. Grenoble Ecole de Management +8 37 MSc Management in International Business France $78,629 90%
30. Luiss University +23 53 Master in Management Italy $64,902 90%
31. Trinity College Dublin +8 39 MSc in International Management Ireland $73,281 97%
32. Ieseg School of Management -6 26 MSc in Management France $72,949 95%
33. Excelia Business School +3 36 Master in Management France $77,457 98%
34. HHL Leipzig Graduate School of Management -15 19 Master in Management Germany $129,051 95%
35. University Carlos III de Madrid ——– NR Master in Management Spain $63,377 74%
36. ICN Business School +21 57 Master in Management France $64,641 100%
37. Frankfurt School of Finance & Management +1 38 Master in Management Germany $109,270 88%
37. TBS Education +13 50 Master in Management France $72,135 97%
39. Hult International Business School +2 41 Master in International Management U.S. $80,854 89%
40. SP Jain Institute of Management & Research +4 44 Post Graduate Diploma in Management India $131,024 100%
41. Bayes Business School +9 50 MSc in Management U.K. $62,919 83%
41. Singapore Management University +28 69 MSc in Management Singapore $83,409 73%
43. Indian Institute of Management-Ahmedabad ——– NR Post Graduate Program in Management India $137,919 100%
44. EADA Business School Barcelona -11 33 Master in International Management Spain $77,692 100%
44. Lund University School of Economics & Management +13 57 MSc in International Strategic Management Sweden $68,739 100%
46. Hanken School of Economics +16 62 MSc in Economics & Business Administration Finland $65,492 95%
46. University of Cologne +8 54 Master of International Management Germany $105,676 83%
48. Kedge Business School ——– NR Master in Management France $70,292 96%
49. University of Sydney Business School +1 50 Master in Management Australia $72,214 91%
50. ZHAW School of Management & Law +18 68 MSc in International Business Switzerland $85,307 100%


Questions about this article? Email us or leave a comment below.