HEC Paris Tops Financial Times Masters in Management Ranking 2023
HEC Paris has been named the leading global business school in the 2023 Financial Times Masters in Management (MiM) Ranking. The prestigious institution took the top spot, followed closely by St Gallen of Switzerland. Notably, four other French schools secured positions in the top tier of the 100 ranked institutions.
French business schools dominated the rankings, with 21 entries, accounting for a fifth of all institutions listed. The United Kingdom ranked second with 10 schools, led by London Business School in third place overall. The list also featured 11 Indian schools, three from mainland China, and two from Hong Kong, reflecting the internationalization of the qualification.
The rankings revealed that the MiM program is gaining popularity in the United States. While there are currently only two US schools in the rankings, including Hult International Business School and the University of South Carolina: Moore, more schools are beginning to offer the program. The University of Chicago Booth School of Business will enroll its first cohort this year.
Commenting on the rise in demand for MiM programs, Starr Marcello, the deputy dean for MBA programs at Chicago Booth, stated, “We’ve seen a very big increase in demand from younger students, and the MBA is not the right program if they do not have full-time work experience. This is the best entry point to the business world for them.”
The FT MiM ranking, though not comprehensive, is based on various factors provided by schools and alumni, including graduate salaries, achievements of study aims, and diversity. The methodology has been adjusted this year to place less weight on salaries and more value on factors such as the alumni network and schools’ commitment to sustainability.
London Business School was recognized for having the highest-value alumni network, followed by HHL Leipzig Graduate School of Management in Germany. HEC Paris, the top-ranked school, excelled in average alumni salary, aims achieved, and dedication to teaching environmental, social, and governance (ESG) topics.
Indian schools secured the top positions for salary outcomes three years after completion, adjusted for international purchasing power parity. HEC Paris topped the European rankings for salaries. Tsinghua University School of Economics and Management in Beijing reported the highest salary increase, with remuneration nearly doubling three years after graduation.
While reported salaries increased in the past year following the pandemic, a gender pay gap persisted, with female alumni earning, on average, 19% less than male counterparts. However, the rankings did reveal positive developments in terms of gender parity, with a dozen business schools achieving parity among their students.
Rabat Business School in Morocco emerged as the biggest riser, climbing 32 places to joint 54th, thanks to its strong performance in international work mobility and career progress. The rankings also highlighted regional differences in salaries, with Asia-Pacific witnessing a significant increase while mainland European salaries declined.
Additionally, Lund University School of Economics and Management (Lusem) in Sweden received recognition for its outstanding teaching of environmental, social, and governance topics. SDA Bocconi/Università Bocconi in Italy ranked first for its efforts in carbon emissions reduction and setting a net zero emissions target.