In 2025, the Financial Times Online MBA Ranking sees the same business schools in the top three for the third year in a row! Europe dominates, a new school emerged and some more affordable programs made the top 10 – let’s take a look!
Are you a driven business professional looking to accelerate your career growth? Pursuing an online MBA might be your ideal choice. It provides the convenience and flexibility required for busy schedules while delivering essential knowledge and strategic skills to empower you as an impactful leader.
The Financial Times (FT) Online MBA Ranking is a good benchmark for making your decision. With a rigorous methodology and a comprehensive list of schools considered for the ranking, you are bound to find your perfect fit in this year’s list.
Here are the top 10 business schools that excel at delivering an MBA online in 2025:
The Financial Times Online MBA Ranking is an annual evaluation of the world’s leading online MBA programs. It assesses institutions based on several key factors, including alumni salary growth, career advancement, diversity of faculty and students, value for money, and sustainability practices.
Rankings are derived from comprehensive surveys of schools and recent graduates, offering prospective students valuable insights into academic quality, employability, and overall return on investment. By comparing various aspects of these programs, prospective students can use the FT ranking as a valuable resource when making informed decisions about their MBA education.
Unlike the US News Best Online MBA Program Ranking, the Financial Times list comprises business schools worldwide. Its esteemed reputation means it is a reliable source of information for prospective students, alumni, and business schools alike.
The Financial Times’ Online MBA Ranking in 2025 evaluated the top 15 business schools out of 22 participating institutions, offering insights into program quality and outcomes. The methodology starts with strict eligibility criteria to ensure the rigorous standard established over 20 years ago is upheld year-on-year.
To be considered, schools must be accredited by AACSB or Equis, have offered an online MBA program for at least four consecutive years, and deliver at least 70% of their content online. Prospective students undergo a selection process, and graduates must complete examinations to earn their degrees.
The ranking is based on two online surveys: one completed by the schools and another by alumni who had finished their online MBA in 2021, achieving a 22% response rate (698 responses). A minimum alumni response rate of 20% is required for a school to be ranked.
The evaluation comprises 20 criteria, categorized as follows:
Alumni Responses (60%): Metrics include alumni income and salary increase (each contributing 12% to the total score), value for money, career progress, fulfillment of aims, and effectiveness of career services.
School Data (30%): Factors such as program diversity—assessed through the composition of faculty, students, and board members regarding gender, international representation, and industry sectors—are considered.
Research Rank (10%): Determined by the number of articles published by faculty in selected academic and practitioner journals between January 2022 and October 2024.
The ranking also evaluates schools based on their carbon footprint and the integration of Environmental, Social, and Governance (ESG) criteria into their programs.
This comprehensive methodology ensures a balanced assessment of online MBA programs, aiding prospective students in making informed decisions aligned with their career objectives and educational preferences.
Spain’s IE Business School, London’s Imperial College Business School, and Warwick Business School maintained their leading positions for the third consecutive year. IE Business School topped the table, demonstrating excellence in international mobility and ESG and net zero teaching. Their alumni reported the biggest salary bump, an impressive 45 percent increase, reaching an average of US$209,202 three years post-graduation.
Imperial College Business School secured second place, boasting the highest percentage of international faculty and strong performance in international mobility. Their graduates praised the diversity of students, reporting that this enhanced their management skills, and they enjoyed an average salary increase of a third, up to US$228,443.
Warwick Business School retained its third overall position, improving in its program delivery and maintaining a strong second place for career progress. They also offer one of the more affordable programs among the top-ranked institutions, with tuition fees of £40,733. This positions Warwick as a cost-effective option for students seeking a reputable online MBA.
Most notably, University of Southern California: Marshall alumni reported the highest average salary at US$228,500. The school also ranked highly for research and career progress.
The University of Bradford School of Management in the UK was recognized for offering the best value for money. At the same time, Carnegie Mellon clocked in as the most expensive online MBA at US$149,028 while Durham University Business School is one of the most affordable in Europe at £31,193.
The University of Porto – FEP | PBS, a newcomer to the top ten, excelled in online interaction and faculty availability. The Portuguese school came in third for ESG and net zero teaching. It was also the cheapest online MBA in Europe at €14,672.
AGSM at UNSW Business School in Australia dropped back to tenth place this year but maintained its top position in the carbon footprint category. This metric considers a school’s net zero target year and the availability of a public carbon emissions audit since 2019, with extra credit for reports covering Scope 3 emissions.
According to the survey, personal development was the primary motivation for pursuing an online MBA, followed by improving career opportunities and management development. Online MBA students tended to have a wider age range compared to on-campus programs. Alumni reported that corporate strategy, general management, and organizational behavior were the most useful curriculum topics.
Nearly all alumni experienced an improvement in job positions, with a significant increase in senior management roles. The technology sector employs the largest share of online MBA alumni. The gender pay gap has decreased significantly to 8 percent, although this is partly due to a decrease in average male salaries while the increase for women has gained some ground in recent years. Overall, it is still a significant improvement compared with 2024 when the gap was 25 percent.
When choosing an MBA program, ensure it aligns closely with your career objectives by assessing how well the curriculum supports your professional goals and offers relevant skills development. Evaluate the learning environment by considering faculty expertise, student diversity, and international exposure, confirming it matches your educational aspirations and career goals.
Finally, weigh the total costs, including tuition and living expenses, against the potential salary gains to accurately assess the program’s overall value and return on investment. Do you want to see who topped the list of the Best MBAs in 2025? Read the FT Best MBA Programs for 2025.
Learn more about MBA rankings on our rankings page and take a look at the Complete MBA Program Rankings Calendar.
