The 2023 Financial Times (FT) World MBA Ranking is now available. Over the past few years, Indian B-Schools have solidified their position in the FT Ranking. It was difficult to find more than a few Indian B-Schools on the FT Ranking list a decade ago. There were just four B-Schools even as recently as last year. Yet, it has been demonstrated that the presence of B-Schools in the FT Ranking list would become more pronounced within a year. IIM Indore and IIM Lucknow added two more gems to the crown this year.
There are six Indian B-Schools on the list. The best B-School in India, according to rankings, is Indian School of Business (ISB), which is ranked 39. The IIMs are in charge of the remaining five spots on the list. The ABC of B-Schools in India has once again been redefined by IIM Ahmedabad, IIM Bangalore, and IIM Calcutta. They have received the following rankings: 51, 52, and 76. Along with this, IIM Indore and IIM Lucknow have also succeeded in securing positions on the list at positions 89 and 90, respectively.
An FT Ranking is what?
One of the most respected rankings in the world is the FT 2023 World MBA Ranking. The FT rankings consider crucial factors while evaluating an institution’s performance. The rating takes into account the growth in the incomes of B-School alums. As a result, higher rankings are given to universities whose graduates’ incomes improve significantly three years after graduation.
With a 131% increase in alumni pay, ISB outperformed both Harvard and Stanford in this area. It reassures students that spending money on an MBA from these universities is worthwhile.
The FT Ranking also takes into account factors like faculty-to-student ratio, internationalization, gender parity, and employment prospects. IIM Calcutta has a 9.34 out of 10 rating for alumni satisfaction. It demonstrates how highly the teaching methods and infrastructure assistance are regarded by those who have graduated from these institutions.
Why should you look at these rankings?
The majority of Indians aspire to earn an MBA. Almost 500,000 students registered for more than 3000 MBA courses across the nation in FY 2022. In India, the cost of an MBA programme has been rising quickly.
Unfortunately, it has been observed that many B-Schools in India fall short of competition on crucial factors including graduation rates, research methods, and facilities. Consequently, it is essential that students make an informed choice before diving into the MBA program’s deep blue sea.
These rankings become extremely important in such a situation. They allow students to choose where they want to invest their time and money by examining how well B-Schools perform on various metrics.
Final Words
The assessment criteria, which heavily emphasizes results like MBA in USA income levels and percentage growth three years after graduation, is one important reason for the dominance of business schools in the rankings. In fact, the US is home to 12 of the top 14 MBA programmes in terms of compensation, with Stanford University topping the list with a staggering average weighted alumni salary of $248,670 USD (2.06 crore INR)
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