Logo BusinessBecause - The business school voice

Inspiring and informing your business school journey

mobile search icon

Financial Times Masters In Management Ranking: European Schools Dominant Again

European business schools, led by Switzerland’s University of St Gallen, have continued to dominate the Financial Times Masters in Management ranking in 2022

By  Matt Kefford

Mon Sep 12 2022

The 10-highest ranked Masters in Management (MiM) programs in the world are all based in Europe, according to the newly released Financial Times Global Masters in Management ranking 2022.

For the 12th year in a row, Switzerland’s University of St Gallen leads the list. It’s followed by France’s HEC Paris—the top two schools have remained the same since 2014. Rotterdam School of Management, Erasmus University finishes in third in 2022 after placing fifth last year.

Similar to the Masters in Finance ranking released by the FT earlier this year, French b-schools are the dominant force, taking up four spaces in the top 10.

Top-ranking French schools include ESCP Business School and ESSEC Business School, while EMLyon Business School rises to its first ever top 10 finish. EDHEC Business School drops out of the top 10 in 2022.

There are also strong performances from Chinese schools Tsinghua University School of Economics and Management and Shanghai Jiao Tong University Antai, who each gain their highest ever finishes and place among the top 20 MiM programs worldwide.

Download Our Master's Survival Kit 2022 


FT Masters in Management ranking: European dominance explained 

While the MBA degree was born in the US, the MiM is a European creation and this has typically led to European business schools taking the top spots in the FT ranking.

The FT list evaluates several factors, each with their own weighting that contributes to a school’s overall score. Key factors include average graduate salaries after three years (20%) and the percentage increase of alumni salaries after three years (10%).

There are five European schools ranked among the top 10 for alumni salaries. While India’s IIM Bangalore places first, St Gallen and Germany’s HHL Leipzig place second and third, HEC Paris ranks sixth. Business schools in India and China perform well in this category.

HEC Paris is the only top-ranked program to place among the top 10 schools for salary percentage increase. HEC grads tend to see a 77% increase in their salaries. The highest salary increase in 2022 is 112% at Russia’s St Petersburg University Graduate School of Management.

Factors related to international job opportunities (8%) and course experience (8%) are also important to a school’s overall placing in the FT MiM ranking.

All of the top 10 schools for international course experience are based in or have campuses in Europe. The top-ranking school in this category is a collaborative program offered by IQS in Spain, Fu Jen University in Taiwan, and Loyola Marymount University in the US. It’s followed by IESEG School of Management, Rennes School of Business, ESCP, and ESSEC.

Only European schools feature among the top 10 for international work mobility. Rotterdam School of Management places top, followed by University College Dublin Smurfit School and St Gallen rounding out the top three.

Lesser weighting is given to various career-focused criteria including career progress rank (6%), aims achieved (5%), careers service rank (5%) and the percentage of students employed after three months (5%).

These factors are typically dominated by European schools: Italy’s Luiss University leads for career progress rank while St Gallen leads the aims achieved and careers service categories.

Several schools have a 100% score for the percentage of students employed, including Jiao Tong, India’s SP Jain Institute of Management and Research, and Prague University of Economics and Business.

FT MiM ranking: World’s best Masters in Management

With a top three of St Gallen, HEC Paris, and RSM, the top five is completed by Stockholm School of Economics—up four spaces—and ESCP Business School, which placed seventh in 2021.

ESSEC keeps its place in sixth, while London Business School drops three spaces to seventh. UCD Smurfit, which placed third in 2021, ranks eighth in 2022. EMLyon continues its meteoric rise, up from 21st in 2021 to place ninth. The school was ranked 40th in 2019.

ESMT Berlin completes the top 10 top-ranked MiM programs worldwide, up from 12th place in 2021.

A total of 134 schools took part in the FT ranking this year. The ranking  is based on surveys of both alumni and schools, with alumni responses making up 59% of the total, and school data comprising the remaining 41%.

Next Read:

Master's Survival Kit: 10 Things You Should Know Before Going To Business School