In an interview with Rebecca Loades of ESMT Berlin, we explore why the full-time MBA program doesn’t appear in the Financial Times Global MBA Ranking 2023, and why it also won’t appear in 2024. Rebecca also shares important updates from the ESMT Berlin MBA and what we can expect from the school going forward.
The Financial Times published their Global MBA Rankings for 2023 in February. While familiar institutions like Columbia Business School, INSEAD, and IESE Business School top the list, ESMT Berlin did not appear at all.
ESMT’s Director of MBA Programs, Rebecca Loades, explains that in 2018-2019, they wanted to improve employment outcomes, enable exchange between cohorts, and improve the learning experience in the full-time MBA. They also wanted to integrate more of ESMT’s strengths — analytics, innovation, and responsible leadership — into the program. That meant making the program longer. (00:16)
The result was that, in 2020, ESMT Berlin extended their MBA program. The school knew this would have an impact on rankings but believed the benefits far outweighed the costs. The extended MBA program made room for specialization tracks that helped increase employment prospects for its graduates, while moving graduation enabled a social exchange between MBA cohorts. These changes allowed ESMT to broaden its scope and continuously adapt and evolve to better meet student and employer needs.
But it also meant no graduates in the 2020 calendar year, and hence exclusion from the FT Global MBA 2023 Rankings.
Rebecca maintains a positive outlook nonetheless. She tells us, “I believe that decision was exactly the right one. And, to be honest, those changes that came in gestation in 2018 also enabled us to effectively implement the most recent changes to the full-time MBA curriculum by which we’ve managed to integrate a summer internship, a social impact project, intensive German, and international exchange. None of this would have been possible if we’d had that shorter 12-month program.” (01:10)
ESMT Berlin’s absence from the FT MBA Rankings is a result of their investment in changing the program. Most recently, two further components have been added to the MBA program, ensuring that ESMT Berlin students are exposed to diverse learning experiences that foster growth and understanding.
In the summer, students can pursue an internship, take German language courses, or complete a social impact project. Participating in an internship and German language proficiency will increase students’ employability. Meanwhile, ESMT Berlin’s focus on social impact aligns with its mission to develop responsible leaders.
In winter, students enjoy an extended elective period and can do an international exchange. This global perspective is invaluable in developing adaptable and culturally-aware leaders, ready to excel in today’s interconnected world. As a bonus, the school’s central location provides students with a competitive edge for traveling sustainably.
“One of the advantages that we have of being [in] the heart of Europe is that things are an easy train ride away,” Rebecca says. “Therefore, there are sustainable options that [do] not mean that you have to jump on a plane to get these immersion experiences in order to augment what you’re learning in the formal curriculum with these external or social impact experiences.” (03:06)
A 12-month program couldn’t provide these new and exciting opportunities to students.
Not only has ESMT Berlin taken steps to adapt its MBA offerings, but the Financial Times has also evolved in the way it ranks MBA programs. The FT MBA Rankings have evolved to better capture contemporary business education’s essence.
For example, “They have downplayed post-MBA salary, which supports countries such as Germany, where MBA salaries are not at the same level as you see in the US. So, I think that that’s a very positive step,” Rebecca shares. “There’s also been a greater emphasis in terms of the ESG, the environmental impact and sustainability of an organization and of the campus. Again, that is something that we are heavily focused on.” (01:57)
ESMT is also leading regarding gender diversity, which FT ranks according to the percentage of female faculty, students, and board members. The MBA Class of 2022 reached its highest gender parity score, with 48% women, and their new class is even higher at 54% women. Unfortunately, these impactful achievements must wait for recognition in the rankings.
“We’ve got some phenomenal stuff that we’re seeing – our female faculty has increased. To be honest, it’s slightly frustrating that we’ve been excluded this year because we have so many good things that have come into play, which would have raised our ranking status.” (02:30)
ESMT Berlin demonstrates its commitment to preparing the next generation of business leaders through its revamped MBA program. Their learning environment empowers its students to make a meaningful and lasting impact in business. ESMT Berlin is paving the way for a new breed of business leaders, ready to take on the challenges of a rapidly changing global landscape.
We are positive that ESMT Berlin’s MBA ranking will return stronger than ever – and we look forward to reporting on its top rank in the Financial Times in 2025.
Curious about what it’s like to pursue an MBA at ESMT Berlin? Reach out directly to a current or past student to find out.
