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|
|9||9||University of Chicago: Booth||US||161289||97||35|
|10||11||University of California at Berkeley: Haas||US||158518||88||50|
|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|
|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|
|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|
|26||30||Indian Institute of Management, Ahmedabad||India||167676||88||2|
|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||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|