IIM A’s PGPX Ranked No. 2 MBA in the World for Career Progression: Financial Times 2015 MBA Ranking

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One Year MBA courses keep India’s flag flying high in the Financial Times (FT) 2015 MBA Ranking: IIM A’s PGPX rises from 30 to 26 in the overall rankings this year, ISB’s MBA (PGP) rises three places from 36 to 33 while IIM B’s MBA (EPGP) falls from 68 to 82 rank. Consequently IIM A’s One Year MBA (PGPX) is ranked as the No. 1 MBA course in India. Ranking of IIMs pre-experience two-year PGP courses to be available shortly in FT ranking of Masters in Management courses.

MBA programmes from India have shown a strong performance in the Financial Times Global MBA Ranking 2015. IIM A and ISB have bettered their performance from 2014, however IIM B’s MBA has fallen from grace and has been ranked 82 this year – a sharp fall of 14 places.

The top spot in the 2015 Financial Times Global MBA ranking of the 100 best full-time MBA programmes goes to Harvard Business School, which saw off challenges from London Business School (second) and the Wharton School of the University of Pennsylvania (third) to keep its crown. Stanford Graduate School of Business, second last year, slipped to joint fourth with Insead.

This ranking is solely a ranking of MBA courses and is not a ranking of B-Schools. Nor is the ranking based on pre-experience Master in Management (MIM) programmes in India (PGP/ PGDM). FT comes out with a separate ranking of B-Schools, and of MIM pogrammes.

Highlights – Indian B-Schools

  • IIM A’s PGPX is ranked No. 2 MBA in the world for Career Progression, above Harvard’s MBA and just below Stanford School of Business’s MBA 
  • The rise seems to come on the back of higher CTCs for PGPX grads. The weighted average salary for PGPX students in 2014 was $157,459 while this figure for 2015 is $167,676. The weightage salary is an adjusted figure that takes purchasing power of a currency into account and is calculated at PPP rates provided by the International Monetary Fund.
  • IIM A is however ranked at an abysmal 99 in the ranking for research. ISB trumps it and is ranked 65 in the world on this parameter. 
  • IIM A and ISB still long way off from their 11 rank and 13 rank in 2011 – their best ever show on the rankings till date
  • IIM B’s One Year MBA (EPGP) is the No. 5 MBA in the world for career progression, ranked above the likes of Wharton, INSEAD & MIT
  • IIM B’s loss comes largely from an improved performance from other B-Schools – IIM B has improved or maintained its score on most counts in 2015

What is ironical is that while these MBA courses, all one-year in duration, have taken the world rankings by storm, they are yet to be crowned numero-uno within the very B-Schools they represent – officially at least, the two-year PGP courses continue to remain the ‘flagship’ courses at IIMs.

The One Year MBA courses at IIMs have also enabled the institutes to get a Global MBA accreditation from AMBA, UK which their pre-experience PGP courses do not qualify for. 

If China continues to come up the curve and India becomes like China, we would be at a fundamental tipping point,” predicts Davis Blake. (However) long-promised changes in legislation, which might be implemented in the Indian market in 2015, may confuse as much as clarify. The traditional pre-experience PGP (postgraduate programme) taught by the prestigious Indian Institutes of Management could be renamed as an MBA

Financial Times takes note of the confusing state of affairs in the Indian MBA market vis.a.vis the One Year MBA and Two-year PGP courses.

Speaking to FT, Prof. Davis Blake of Michigan Ross says, “Increasingly the competition for US business schools is global. If China continues to come up the curve and India becomes like China, we would be at a fundamental tipping point,” she predicts. (However) long-promised changes in legislation, which might be implemented in the Indian market in 2015, may confuse as much as clarify. The traditional pre-experience PGP (postgraduate programme) taught by the prestigious Indian Institutes of Management could be renamed as an MBA, says FT.

That these confusions are affecting the growth of graduates of the One Year MBA in India and confusing future MBA aspirants is clear. What is interesting to note is that Institutes offering the One Year MBA as their primary course are also affected. Speaking to FT, Ajit Rangnekar, the Dean of Indian School of Business says, “Inside India this (legislation) will have little effect. Within the country nobody cares. All people care about is what institution you went to.”

Highlights – B-Schools in USA, Europe, Australia and Asia Pacific

  • The University of San Diego School of Business Administration is the highest new entrant, at 66th. Nine other schools not in last year’s ranking feature in 2015, including Queen’s School of Business in Ontario, which last reached the top 100 in 2006.
  • China’s Fudan University School of Management and the UK’s Lancaster University Management School recorded the strongest progress, climbing 28 and 27 places respectively to 55th and 50th places.
  •  The Macquarie Graduate School of Management (MGSM) has been ranked Australia’s leading MBA school and number 68 in the world
  • After several years of knocking on the door, the Haas school at UC Berkeley has entered the FT Global MBA rankings top 10 for the first time in 2015
  • London Business School’s MBA is No.1 in Europe. INSEAD’s One Year MBA is No.2 MBA in Europe
  • CEIBS MBA is the No. 1 in China

What is ironical is that while these MBA courses, all one-year in duration, have taken the world rankings by storm, they are yet to be crowned numero-uno within the very B-Schools they represent – officially at least, the two-year PGP courses continue to remain the ‘flagship’ courses at IIMs. The One Year MBA courses at IIMs have also enabled the institutes to get a Global MBA accreditation from AMBA, UK which their pre-experience PGP courses do not qualify for.

Why aren’t more MBAs from India in the list? Well for one, to be eligible to participate, a school should be accredited by AACSB or Equis; it must have a programme that has been running for at least four years; and it must have graduated its first class at least three years before the ranking publication date.

Among top B-Schools, IIM I, IIM L don’t have EQUIS/ AACSB accreditation, while IIM C’s PGPEX seems to have not made the cut despite the B-School having been accredited by AACSB and EQUIS both.

Want to understand the FT Ranking methodology better? Go here.

Detailed Financial Times MBA Ranking 2015

Rank in 2015 Rank in 2014 School name Country Weighted salary (US$) Salary percentage increase Career progress rank
1 1 Harvard Business School US 179910 96 3
2 3 London Business School UK 154147 97 10
3 4 University of Pennsylvania: Wharton US 171543 90 22
4 2 Stanford Graduate School of Business US 177089 80 1
4 5 Insead France / Singapore 155015 86 23
6 5 Columbia Business School US 169252 106 36
7 7 Iese Business School Spain 144992 121 8
8 8 MIT: Sloan US 158926 97 20
9 9 University of Chicago: Booth US 161289 97 35
10 11 University of California at Berkeley: Haas US 158518 88 50
11 17 Ceibs China 149504 147 9
12 13 IE Business School Spain 152286 104 4
13 16 University of Cambridge: Judge UK 146664 93 12
14 14 HKUST Business School China 132416 117 31
14 15 Northwestern University: Kellogg US 159598 90 18
16 21 HEC Paris France 129544 104 17
17 10 Yale School of Management US 154175 96 21
18 17 New York University: Stern US 146701 90 38
19 22 Esade Business School Spain 133138 117 6
20 12 IMD Switzerland 148148 70 7
21 17 Duke University: Fuqua US 142557 91 47
22 23 University of Oxford: Saïd UK 136474 86 16
23 20 Dartmouth College: Tuck US 153896 94 27
24 23 University of Michigan: Ross US 144159 97 68
25 26 UCLA: Anderson US 142380 92 44
26 30 Indian Institute of Management, Ahmedabad India 167676 88 2
26 31 SDA Bocconi Italy 121100 107 64
28 27 Cornell University: Johnson US 138782 98 48
28 29 University of Hong Kong China 118354 108 41
30   CUHK Business School China 112204 125 19
31 32 National University of Singapore Business School Singapore 107282 127 81
32 27 University of Virginia: Darden US 141297 100 56
33 36 Indian School of Business India 126544 131 33
34 49 Imperial College Business School UK 108553 88 26
35 43 Manchester Business School UK 115763 92 24
36 34 Carnegie Mellon: Tepper US 133252 100 59
36 52 The Lisbon MBA Portugal 122334 97 14
38 25 Warwick Business School UK 118411 61 51
39 33 University of North Carolina: Kenan-Flagler US 125937 93 67
40 38 Nanyang Business School Singapore 110642 107 46
40 39 University of Texas at Austin: McCombs US 133300 88 73
42 36 Georgetown University: McDonough US 128684 96 76
43 35 Rice University: Jones US 123058 104 91
43 48 University of California at Irvine: Merage US 112166 105 94
45 39 Rotterdam School of Management, Erasmus University Netherlands 103626 78 60
45 41 City University: Cass UK 114032 68 13
45 46 Cranfield School of Management UK 118458 71 42
48 56 Purdue University: Krannert US 108622 113 34
49 50 University of Maryland: Smith US 108143 93 77
50 77 Lancaster University Management School UK 96919 81 49
51 58 University of Washington: Foster US 115924 93 89
52 59 University of Cape Town GSB South Africa 144744 76 25
53 51 University of Toronto: Rotman Canada 91974 80 84
54 52 Michigan State University: Broad US 110062 113 95
55 77 Shanghai Jiao Tong University: Antai China 93690 160 61
55 66 Mannheim Business School Germany 106106 75 70
55 83 Fudan University School of Management China 90833 148 39
58 65 University of Southern California: Marshall US 126141 84 58
59 41 Emory University: Goizueta US 122559 85 78
59 45 Sungkyunkwan University GSB South Korea 109636 76 29
61 59 Vanderbilt University: Owen US 120936 88 75
62 47 Indiana University: Kelley US 116254 105 97
63 89 ESMT – European School of Management and Technology Germany 99822 65 54
63   University of Iowa: Tippie US 110258 117 93
65 71 Georgia Institute of Technology: Scheller US 113498 108 90
66   University of San Diego School of Business Administration US 106400 112 45
67 88 University of St Gallen Switzerland 104891 58 66
68   Macquarie Graduate School of Management Australia 120485 61 11
69 70 Ohio State University: Fisher US 105409 102 82
70 81 Wisconsin School of Business US 110676 100 92
71 44 University of Illinois at Urbana-Champaign US 111224 94 69
72 64 Washington University: Olin US 110810 87 87
73 91 University College Dublin: Smurfit Ireland 108154 69 43
73 95 Babson College: Olin US 119996 95 15
75 62 AGSM at UNSW Business School Australia 109794 59 88
76   SMU: Cox US 110297 99 40
76 87 Arizona State University: Carey US 104356 96 99
78 75 Boston University School of Management US 109775 97 53
79 97 Durham University Business School UK 96363 66 28
80 73 University of Strathclyde Business School UK 98839 80 32
81 72 University of British Columbia: Sauder Canada 95427 67 71
82 68 Indian Institute of Management, Bangalore India 134538 75 5
83 54 University of Minnesota: Carlson US 112208 75 65
84 84 University of Bath School of Management UK 96846 55 30
85 55 University of Rochester: Simon US 108321 102 83
86   Queen’s School of Business Canada 92388 86 72
86   University of Alberta Canada 92370 95 100
86 62 Pennsylvania State University: Smeal US 104612 100 98
89   University of Notre Dame: Mendoza US 116394 93 55
90 68 Melbourne Business School Australia 96411 60 96
90 82 Boston College: Carroll US 113846 80 80
90 99 George Washington University US 104994 85 85
93 84 University of California, San Diego: Rady US 99200 72 52
94 100 Vlerick Business School Belgium 100809 71 57
95   Birmingham Business School UK 102367 61 37
96   University of South Carolina: Moore US 92526 97 62
97 80 University of Pittsburgh: Katz US 92160 105 86
97 74 Tias Business School Netherlands 92289 67 74
97 89 Western University: Ivey Canada 96990 68 79
100 84 McGill University: Desautels Canada 89510 67 63

 

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