Financial Times MBA Rankings 2025: Indian B-schools Climb Up, Harvard Falls Sharply
Wharton School secured the top position in the Financial Times (FT) MBA Ranking 2025. Indian School of Business (ISB), the top ranked Indian B-school, moved up to 27th spot, a jump from last year’s 31st ranking. Many other Indian B-schools have improved their rankings too. However, in a major upset, Harvard Business School fell sharply in 2025 FT MBA Ranking. Read global trends and Financial Times MBA Rankings India highlights.
US, EU B-schools dominate 2025 FT Global MBA Ranking
Two US business schools — Wharton and Columbia — top the 2025 FT Global MBA Ranking, while five of the next six leading institutions are in Europe. IESE Spain is ranked third, followed in joint fourth place by INSEAD of France and Singapore and Bocconi in Italy. 2025 FT MBA Rankings were released on February 17, 2025. Check details in table 1 below.
Table 1: US, EU B-schools dominate FT Global MBA 2022 Ranking
| School Name | Location | Rank in 2025 | Rank in 2024 |
| University of Pennsylvania: Wharton | US | 1 | 1 |
| Columbia Business School | US | 2 | 3 |
| IESE Business School | Spain | 3 | 5 |
| Insead | France | 4 | 2 |
| SDA Bocconi School of Management | Italy | 4 | 3 |
| MIT: Sloan | US | 6 | 6 |
| London Business School | UK | 7 | 8 |
| Esade Business School | Spain | 8 | 17 |
| HEC Paris | France | 9 | 12 |
| Northwestern University, Kellogg School of Management | US | 10 | 6 |
Indian B-schools Rise in Financial Times MBA Rankings 2025
Indian business schools have made significant strides in the Financial Times MBA Rankings 2025 with remarkable improvements across the board. Here are key highlights of FT MBA Rankings 2025 India:
- ISB and IIM Ahmedabad Lead the Pack: ISB has emerged as the top-ranked Indian business school, moving up to 27th place from 31st in 2024. IIM A witnessed a notable jump, climbing 10 spots from 41st to 31st.
- Steady Progress from Other IIMs: Although IIMB slipped from 47th to 57th, it continues to maintain a strong presence. IIMC improved its position to 61st from 67th.
- New Entrants and Notable Climbers: IIM Indore and IIM Kozhikode have entered the rankings, while IIM Lucknow and XLRI Jamshedpur have improved their rankings. Check details in table 2 below.
Table 2: Indian B-Schools Climb Higher in Financial Times MBA Rankings 2025 Rankings
| School Name | Location | Rank in 2025 | Rank in 2024 |
| Indian School of Business | India | 27 | 31 |
| Indian Institute of Management Ahmedabad | India | 31 | 41 |
| Indian Institute of Management Bangalore | India | 57 | 47 |
| Indian Institute of Management Calcutta | India | 61 | 67 |
| Indian Institute of Management Indore | India | 69 | -- |
| Indian Institute of Management Lucknow | India | 71 | 85 |
| XLRI — Xavier School of Management | India | 83 | 99 |
| Indian Institute of Management Kozhikode | India | 86 | -- |
Here it is important to note that FT MBA Rankings 2025 have ranked only “post-experience MBA” programs, where prior work experience is the necessary admission criteria, and hence ranks 1 year MBA equivalent programs, like ISB’s PGP and IIMA’s PGPX, and not the flagship 2 year MBA/PGPM programs of IIMs.
Chinese B-schools Ranked on Top from Asia in FT Global MBA Ranking
China Europe International Business School (Ceibs) in Shanghai is ranked the top B-school in Asia, in 12th place, while Shanghai University of Finance and Economics: College of Business is joint 15th rank. Check details in table 3 below.
Table 3: Chinese B-schools dominate Asia Ranking
| School Name | Location | Rank in 2025 | Rank in 2024 |
| Ceibs | China | 12 | 21 |
| Shanghai University of Finance and Economics: College of Business | China | 15 | 24 |
| Peking University: Guanghua | China | 25 | 37 |
| Fudan University School of Management | China | 30 | 27 |
| Tongji University School of Economics and Management | China | 31 | -- |
| HKUST Business School | Hong Kong | 36 | 35 |
| HKU Business School | Hong Kong | 41 | 45 |
| CUHK Business School | Hong Kong | 65 | 75 |
Stanford Missing, Harvard Plunges in FT MBA Ranking 2025
FT MBA rankings has plenty of surprises. Stanford Graduate School of Business is not ranked on the FT Rankings. According to a media report, Financial Times had informed Stanford that it “did not receive enough responses/data from your alumni for your programme to be considered.” FT requires a minimum response rate of 20% to its alumni survey, with at least 20 fully completed surveys.
Meanwhile, Harvard Business School plunged to its lowest 13th rank in FT rankings. According to data published by FT, Harvard was ranked No 1 five years back.
FT Global MBA Rankings 2025 Methodology
The FT’s 2025 Global MBA Ranking is based on criteria including salary and salary increase three years after graduates complete their courses, as well as employment rates, career progress, value for money and the quality of careers advice and alumni networks. Academic research quality and gender parity are also assessed, as are the shares of international students and faculty, and climate action in teaching and operations. Table 4 has detailed break up.
Table 4: Key Weights for FT Global MBA Ranking Criteria
| Factor/Parameter | % Weight | Description |
| Weighted salary | 16 | Average alumni salary three years after completion, US$ PPP equivalent, with adjustment for variations between sectors. |
| Salary increase | 16 | Average difference in alumni salary from before the MBA to now. Half of this figure is calculated according to the absolute salary increase and half according to the percentage increase relative to pre-MBA salary. |
| Value for money rank | 5 | Calculated using salary today, course length, tuition and other costs, including income forgone during the MBA. |
| Career progress rank | 3 | Calculated according to changes in the level of seniority and the size of the organisation alumni work in now, compared with before their MBA. |
| Aims achieved | 4 | Extent to which alumni fulfilled their stated goals or reasons for studying for an MBA. |
| Alumni network rank | 4 | Effectiveness of the alumni network for career opportunities, starting companies, gaining new ideas, recruiting staff and providing event information (eg career-related talks), as rated by alumni. # |
| Careers service rank | 3 | Effectiveness of the school careers service for career counselling, personal development, networking events, internship search and recruitment, as rated by alumni. # |
| Employed at three months | 2 | Percentage of the most recent completing class that found employment or accepted a job offer within three months of finishing their studies. The figure in brackets is the percentage of the class for which the business school was able to provide employment data and is used to calculate its final score. |
| Sector diversity rank | 3 | Calculated according to the diversity of sectors in which the students worked at the time of admission, before the MBA. |
| Female faculty | 3 | Percentage of female faculty. |
| Female students | 3 | Percentage of female students. |
| Women on board | 1 | Percentage of female members on the school’s advisory board. |
| International faculty | 3 | Calculated according to the diversity of faculty by citizenship and the percentage whose citizenship differs from their location of employment — the figure published in the table. || |
| International students | 3 | Calculated according to the diversity of current MBA students by citizenship and the percentage whose citizenship differs from the location in which they study — the figure in the table. |
| International board | 1 | Percentage of the board whose citizenship differs from the location in which the school is based. |
| International mobility rank | 5 | Based on alumni citizenship and the locations where they worked before their MBA, on completion and three years after. |
| International course experience rank | 3 | Calculated according to whether the most recent completing class took part in exchanges and internships, lasting at least a month, in countries other than where the school is based. In-person, virtual and hybrid experiences are included. |
| Faculty with doctorates | 5 | Percentage of full-time faculty with a doctoral degree. |
| FT research rank | 10 | Calculated according to the number of articles published by full-time faculty members in 50 selected academic and practitioner journals from January 2022 to May 2024. The rank combines the absolute number of publications with the number weighted relative to the faculty’s size. |
| Carbon footprint rank | 4 | Calculated using the net zero target year for carbon emissions set by the university and/or school, and the existence of a publicly available carbon emissions audit report since 2019. Extra credit is given to schools with an audit report that includes Scope 3 emissions (those not controlled directly by the school but which occur externally in its value chain as a result of its activities). |
| ESG and net zero teaching rank | 3 | Proportion of teaching hours from core courses dedicated to environmental, social and governance issues and climate solutions addressing how organisations can reach net zero. Alumni evaluation of the school’s ESG teaching is also included. |
In conclusion, Wharton School has secured the top position in the Financial Times MBA Ranking 2025, released on February 17. In a major upset, Harvard Business School has fallen sharply in FT MBA Ranking 2025. Financial Times MBA Rankings for Indian B-schools reveals ISB as the top ranked Indian B-school. Financial Times MBA Rankings India reveals that many Indian B-schools have improved their rankings. Read complete details in above article.
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