Financial Times Global MBA Ranking 2022
Once more, the Financial Times has released its highly anticipated top 100 list – the Global MBA Rankings. Its unique and complex methodology compares some of the most prestigious business schools in the world and points to what we can expect from their MBA programs. Appearing on this list is already a huge achievement, but movement up or down this list from year to year can have a profound effect on public opinion and the recruitment of new students for years to come.
Here are the top schools in the FT Global MBA Rankings 2022:
- University of Pennsylvania: Wharton
- Columbia Business School
- Harvard Business School
- Northwestern University, Kellogg School of Management
- Stanford Graduate School of Business
- University of Chicago: Booth
- London Business School
- Yale School of Management
- IESE Business School
Regional trends: The US continues to dominate but Asia is catching up
Last year was peculiar, as seven of the most reputed American MBA programs (colloquially known as the Magnificent Seven, or M7) opted not to participate, citing the irregularity of the situation during the height of the COVID-19 pandemic. In the absence of the M7, 2021 saw new entrants enter the rankings, as well as a shift up for nearly everyone else.
In the FT Global MBA Rankings 2022, those seven schools are back with a vengeance. As a result, the highly esteemed rankings list experienced a natural correction. Nonetheless, if we compare the last few years, there remains relative stability with respect to geographic representation among the top 100 schools for pursuing one’s MBA. Roughly 55% of MBA programs are based in North America, 25% in Europe, and 20% in Asia.
Asia appears to be the next big destination for many students for their MBA. GMAC reported a whopping 63% rise in student applications in Asian Universities. Topping the list is INSEAD (with their Singapore campus) at #3, CEIBS at #16, followed by the National University of Singapore at #21, and Indian School of Business at #32.
In Asia, there were two new entrants to the FT Global MBA Rankings 2022 list, including Peking University-Guanghua, who soared in at #43 rank, which is impressive for a first-time appearance. Furthermore, it ranks #18 globally in the overall career progression parameter and #27 in the international course experience parameter. It boasts an attractive 115% salary percentage increase and an overall satisfaction rank of 9.3. Additionally, Shanghai-based Tongji University School of Economics and Management secured 65th place overall. Incidentally, it is ranked #1 for the category “Best MBA Programs for Women,” with over 77% of its student population being female. Both schools have achieved fantastic feats, particularly for their first time in the FT Global MBA rankings.
The top 10 business schools in the FT Global MBA Rankings 2022
The big winner this year is University of Pennsylvania, Wharton School of Business, having once again claimed the accolade of being the best full-time MBA program in 2022. Financial Times, however, has ranked this school as the “Business Best School” on several different occasions. INSEAD, which topped the list in 2021, went down to be tied at third place with Harvard Business School. However, Chicago Booth, IESE Business School, and London Business School had a great leap, securing their position in the top ten.
The top ten business schools for the European market have a marked inclination towards France, with six schools from the nation coming in the top 20. INSEAD was in the top five, followed by SDA Bocconi and London Business School. The delightful surprises were the entries of business schools like ESCP Business School, which was ranked #6 for its EMBA program, #7 for Master’s in Management program, and #1 for international student diversity, which is a key parameter.
Spotlighting a big winner: ESCP Business School
ESCP Business School was of striking interest this year. Its full-time MBA program, known as the MBA in International Management, entered the Financial Times rankings for the first time since it launched in 2018. The 10-month program leverages its campuses throughout Europe (Paris, London, Berlin, Madrid, and Turin), as well as its well-respected faculty and vast alumni network, coming from several more established programs, including its top-ranked Executive MBA. Because of its pan-European presence, ESCP’s new ranking places their MBA in a unique position as simultaneously the #1 MBA program in the German market, #2 in Italy, #3 in France, #4 in Spain, and #6 in the UK – an incredible achievement for such a young program.
We spoke with Laura Reyero Simón, Academic Director & Associate Dean at ESCP, who is based at their Madrid campus. She admits, “In the short term we are celebrating the ranking results, but this week we are working to improve our position. We are working to improve our curriculum, the student experience, and something that is key in our course – the career services.” (16:36)
“Every year, we revisit our entire program since we need to have the same speed as the business world,” she continues.” So, every year we include new courses and up-to-date case studies, stay up-to-date with the latest technologies and trends in sustainability, and agreements with companies who offer positions to our students. As alumni, those who graduate can benefit from career services connections from any of our campuses.” (21:04)
Trends per Parameter
According to the FT Global MBA Rankings 2022, Stanford was the top choice for students who achieved their aims after their MBA, whereas Harvard was the top pick for recruitment of MBA graduates by alumni. Wharton Business School undoubtedly was the topper in highest MBA salaries, whereas Indian School of Business was a leader when it came to the biggest salary increase parameter, where we saw a trend of recent graduates getting enviable offers and salary packages. The University of Florida’s Warrington College of Business was voted the “Best Value for Money” MBA program.
Some rankings that weren’t based on monetary parameters were also notable. IESE ranked #1 for its integration of environmental, social, and governance factors in the schools and the courses. When it came to career progress as a parameter, the Indian Institute of Management, Ahmedabad, grabbed the top position in Asia.
Rotterdam School of Management topped the best international mobility parameter, whereas ESCP received the top honors as the school offering the best international experience. Laura shares, “When we select students, we are looking for diversity. We prefer to have less students but much more diverse, so we are not surprised that we are #1 in that. Additionally, it is mandatory that our students study on two different campuses, plus there are electives held on seven different campuses. So, it is mandatory for our students to have at least one international experience during the program, and they really enjoy it.” (19:55)
Looking beyond the Rankings
Whether you base your choice on where to apply to business school entirely on the rankings, not at all, or something in between, the impact of these lists do have an impact felt around the world, and are certainly a source of pride for many.
For those of you who are considering an MBA in the years ahead, the rankings are a great place to start your research. In the end, as anyone who knows will tell you, for achieving great success in your MBA and career after, it’s all about finding the right fit. As you will see, the deeper you get into your research, the less important these lists will be. Rankings provide a lot of helpful data to help orient you during your MBA research and application journey, but there’s so much more to consider, beyond what they can tell you, so of course, you should take them with a grain of salt.