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The 2025 Financial Times Global MBA Rankings, released on February 16th, 2025, presented a dynamic shift in the global landscape of business education. The University of Pennsylvania's Wharton School secured the top spot for the second consecutive year, solidifying its position as a leading institution. This dominance, however, was juxtaposed against a surprising downturn for Harvard Business School, which plummeted to its lowest-ever ranking, highlighting the fluctuating nature of these prestigious programs and the complexities of evaluating their success. The rankings, compiled using metrics such as alumni salary, career progression, value for money, and research quality, offer a multifaceted assessment, revealing both triumphs and setbacks for institutions around the globe.
A key highlight of the 2025 rankings was the remarkable performance of Indian business schools, particularly in terms of salary growth. XLRI – Xavier School of Management demonstrated exceptional progress, boasting a staggering 249% increase in alumni salaries three years post-graduation. This placed XLRI among the global leaders in salary growth, underscoring the increasing appeal of Indian institutions within the international job market. Other Indian institutions, including the Indian School of Business (ISB) with a 247% salary increase, and several Indian Institutes of Management (IIMs) – Ahmedabad, Bangalore, Calcutta, Indore, Kozhikode, and Lucknow – also showcased significant salary growth percentages, ranging from 149% to 204%, indicating a strong upward trajectory for these programs. This surge in salary increases reflects the evolving global economic landscape and the demand for skilled graduates from these prestigious institutions.
The rankings also revealed significant changes in the positions of several prominent institutions. While Wharton maintained its leading position with an impressive average alumni salary of $241,522 and a 113% salary increase, Columbia Business School moved into second place, followed closely by IESE Business School in Spain. The European presence was significant, with five out of the next six spots after Wharton held by European institutions. This underscores the growing global influence and attractiveness of European MBA programs. However, the significant drop of Harvard Business School to 13th place, its lowest ranking to date, sparked considerable discussion. This decline was attributed to factors including a high percentage of graduates still unemployed three months after graduation, impacting negatively on the overall ranking metrics. The fluctuations experienced by Harvard highlight the competitive nature of the global MBA market and the importance of consistently meeting the evolving demands of employers.
Another notable shift involved Esade Business School in Spain, which saw a remarkable improvement, jumping nine spots to eighth place. This reinforces the growing prestige and success of Spanish business schools within the international MBA arena. MIT Sloan maintained its sixth position but showed marked improvements in alumni salary and career progression. Meanwhile, other top schools such as the University of Chicago's Booth School of Business and Dartmouth College's Tuck School experienced declines in ranking, demonstrating the continuous and often unpredictable shifts within the competitive business school landscape. Geographical trends showed continuing dominance by US business schools, particularly in the top 20, but European institutions, specifically those in Spain, France, and Italy, exhibited notable growth. Asian institutions, including CEIBS (China Europe International Business School) and Shanghai University of Finance and Economics, also gained prominence, illustrating the expanding global reach of top MBA programs.
The value-for-money metric, which considers the relationship between post-graduation earnings and program costs, identified institutions like the University of Georgia's Terry College of Business and the University of Florida's Warrington College of Business as top performers in this area. These schools showcase an excellent return on investment (ROI) for students, emphasizing the economic considerations influencing the choice of an MBA program. The 2025 Financial Times MBA rankings provide a comprehensive snapshot of the current global MBA landscape, revealing the performance of established institutions, the rise of new players, and the dynamic shifts in regional prominence. The emphasis on salary increases underscores the importance of career outcomes in evaluating the success of MBA programs and the increasing competition for graduates in a rapidly changing global market. The rankings serve as a valuable resource for prospective students, highlighting both traditional leaders and emerging contenders in the field of business education.