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20 Best Masters In Finance Programs | Financial Times Ranking

European business schools dominate the Financial Times Master in Finance Rankings in 2023—here are the world's best masters in finance programs

Mon Jun 17 2024

ESCP Business School in France offers the best Master in Finance program in the world, according to the 2024 Financial Times ranking.

This year marks the second time in a row that ESCP Business School has secured the top spot after placing second in the ranking from 2018 to 2022.

The Financial Master in Finance Ranking lists the best 65 pre-experience Master in Finance degrees (MiF) worldwide, but what are some of the other top programs according to this year's list? 

Here’s a breakdown of the world's best Master in Finance programs:

Best Masters in Finance | The Winners

ESCP Business School continues to dominate the FT's Master in Finance ranking, after overtaking HEC Paris following an 11-year first placed stint in 2023.

This is due to the school ranking first for its careers services and alumni network, as well as 96% of its alumni respondents citing that they have achieved their aims since graduating.

Master in Finance graduate salaries are also important to the rankings, holding the highest weighting of 16%. On average, graduates from the ESCP Business School Master in Finance program go on to earn an impressive salary of $165,557 three years after graduating. That's a 57% increase compared with their previous earnings.

The highest average salary however is earned by graduates from China's Tsinghua University School of Economics and Management with the figure sitting at a hugely impressive $198,874. It maintains its fifth position from last year.

HEC Paris, ranked second, also boasts impressive salary stats with a 99% salary increase, the highest on the list. This equals an average of $183,928 three years after graduating.

Out of the top 10, five programs are all based in France, including HEC Paris, ESSEC Business School, Skema Business School, and EDHEC Business School.

At number seven, Shanghai Advanced Institute of Finance at SJTU is the only other non-European school to make the top 10. It also offers the second-highest post-graduation salary of $194,159.

Beyond the top 10, Europe continues to lead the way in the MiF rankings. Of the top 20 programs, 17 are European, with the remaining spot held by three Chinese schools, including Peking University Guanghua School of Management.

A dramatic fall for University of St Gallen in Switzerland sees it drop from sixth position in 2023 to 11th place this year.

Grenoble Ecole de Management and Stockholm School of Economics both lose their top 20 spots this year, now sitting at 21st and 23rd respectively.

Just six US programs appear in the rankings, the highest of which is the University of Southern California: Marshall, placing 39th.  

World's best Master in Finance programs | Breakdown

Based on the FT’s ranking metrics, China boasts the best Master in Finance programs in the world for overall salary three years on from graduation. The top three are Tsinghua, where graduates earn $198,874, followed by Shanghai Advanced Institute of Finance at SJTU, where grads earn $194,159, and Peking University: Guanghua, where the figure stands at $182,158.

The top school for salary potential in Europe is HEC Paris.

The FT ranks ESCP top for career progression, followed by Università della Svizzera Italiana (USI) and Essec Business School. For the sixth year in a row, ESCP’s career service ranks higher than any other school. 

In terms of the diversity of the Master in Finance cohort, the FT credits business schools for their proportion of women and international students. The University of Glasgow: Adam Smith soared to the top with 100% international students. Meanwhile, HCUK and University of Edinburgh Business School are tied for the highest ratio of female students: 56%. 

However, out of the 86 schools ranked, only six have achieved gender parity. 

The Financial Times also credits schools for transparency on their carbon emissions and net zero targets. SDA Bocconi in Milan ranks first, followed by BI Business School in Norway, and Spain's IE Business School in third.

The top business school for value for money is Lucerne School of Business, Switzerland.   


The FT’s MiF rankings are calculated based on survey responses from alumni who graduated pre-experience programs three years ago, along with school data. Alumni responses make up 57% of each school's score, with school data constituting the remaining 43%. 

Schools are ranked using 18 different categories, broadly covering areas including salary and career progression, diversity, international opportunities, and faculty expertise. 

The FT also ranks the best post-experience programs based on graduate respondents from later in their careers. This year, only three schools were evaluated with London Business School ranked number one, followed by University of Cambridge: Judge, and the University of Amsterdam, Amsterdam Business School.