UK business schools fall in FT Masters in Management ranking; Indian universities rise
UK business schools saw a drop in the 2025 Financial Times Masters in Management (MiM) ranking, while Indian institutions gained recognition for salaries and career outcomes. The University of St Gallen in Switzerland retained the top spot, marking a record 14th time at number one. London Business School fell from sixth to joint 10th place, and other UK schools, including Warwick, Edinburgh, Cranfield, and Manchester, also slipped in the rankings.
Among the top eight MiM programmes, three are in France — HEC Paris, Insead, and ESCP — one in Portugal — Nova School of Business and Economics — and three in China — Tongji University, Tsinghua University, and Shanghai Jiao Tong University: Antai. Indian schools performed strongly in salary-related metrics, with Indian Institute of Management Ahmedabad, IIM Bangalore, and IIM Calcutta leading the rankings for weighted alumni salaries.
Where Indian Schools Feature
UK business schools depend heavily on international students. Nearly 90 per cent of MiM students in the UK are from abroad, including 78 per cent from the Asia-Pacific region. By comparison, only 40 per cent of students in US schools and 16 per cent in EU schools come from the Asia-Pacific. The drop in UK rankings reflects lower foreign student inflows after the Covid-19 pandemic, stricter immigration rules, and funding pressures.
The FT ranking considers alumni salaries and pay rises three years after graduation, career progress, value for money, international diversity, and gender balance. The three top Chinese schools — Tongji, Tsinghua, and Shanghai Jiao Tong: Antai — lead in value for money, factoring tuition and living costs against current earnings.
Employment rates three months after graduation fell below 90 per cent at 31 schools, with Lancaster University Management School reporting 54 per cent. The alumni gender pay gap widened to 15 per cent in 2025, up from 13 per cent in 2024.
Björn Ambos, dean of St Gallen’s School of Management, said: “We are reforming our programmes constantly while remaining true to our mission to educate responsible leaders by giving them an international outlook, providing a close link to business, focusing on impact and offering value for money.”
Europe still hosts most MiM programmes, with 25 French schools, nine in the UK, eight in Germany, and five in Portugal. Eleven Indian schools are now included in the rankings. Among all ranked schools, 21 report gender parity, while 31 have more women than men. Environmental efforts are led by SDA Bocconi in Italy, BI Norwegian Business School, and IE Business School in Spain. Shanghai Jiao Tong: Antai alumni reported the highest overall satisfaction, followed by Vlerick Business School in Belgium and Stockholm School of Economics.
Overall School Rankings
Among the top eight MiM programmes, three are in France — HEC Paris, Insead, and ESCP — one in Portugal — Nova School of Business and Economics — and three in China — Tongji University, Tsinghua University, and Shanghai Jiao Tong University: Antai. Indian schools performed strongly in salary-related metrics, with Indian Institute of Management Ahmedabad, IIM Bangalore, and IIM Calcutta leading the rankings for weighted alumni salaries.
Where Indian Schools Feature
UK business schools depend heavily on international students. Nearly 90 per cent of MiM students in the UK are from abroad, including 78 per cent from the Asia-Pacific region. By comparison, only 40 per cent of students in US schools and 16 per cent in EU schools come from the Asia-Pacific. The drop in UK rankings reflects lower foreign student inflows after the Covid-19 pandemic, stricter immigration rules, and funding pressures.
The FT ranking considers alumni salaries and pay rises three years after graduation, career progress, value for money, international diversity, and gender balance. The three top Chinese schools — Tongji, Tsinghua, and Shanghai Jiao Tong: Antai — lead in value for money, factoring tuition and living costs against current earnings.
Employment rates three months after graduation fell below 90 per cent at 31 schools, with Lancaster University Management School reporting 54 per cent. The alumni gender pay gap widened to 15 per cent in 2025, up from 13 per cent in 2024.
Björn Ambos, dean of St Gallen’s School of Management, said: “We are reforming our programmes constantly while remaining true to our mission to educate responsible leaders by giving them an international outlook, providing a close link to business, focusing on impact and offering value for money.”
Europe still hosts most MiM programmes, with 25 French schools, nine in the UK, eight in Germany, and five in Portugal. Eleven Indian schools are now included in the rankings. Among all ranked schools, 21 report gender parity, while 31 have more women than men. Environmental efforts are led by SDA Bocconi in Italy, BI Norwegian Business School, and IE Business School in Spain. Shanghai Jiao Tong: Antai alumni reported the highest overall satisfaction, followed by Vlerick Business School in Belgium and Stockholm School of Economics.
Overall School Rankings
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