100 Best MBA Colleges in the World 2024, B-School Rankings
Every top business school in the world has a section on their website solely dedicated to the various ranks they have been given by publications every year. Every single MBA student has, at least once during their MBA journey, checked the business school rankings of the best universities for MBA in the world.
That’s the kind of power a simple list of business schools yields in the world of MBA.
A great man once said, “With great power comes great responsibility”. Not every MBA college ranking list put out on the internet is credible. When selecting top MBA colleges in the world, you simply cannot risk going through MBA rankings that might contain a sponsored school or a school the list makers collaborated with.
To avoid this problem, use sources that are transparent about their MBA colleges’s ranking methodologies and have detailed facts and figures present to support the placement of each school.
The most reliable sources for business school rankings currently are:
1. Financial Times
2. United States News
3. The Economist
4. Bloomberg Businessweek
5. Forbes
But MBA rankings of these best business schools in the world are much more complicated than they seem. Simply running after the dream of getting into the business school ranked #1 in either of these publications would also be idiotic.
Nevertheless, these B-school rankings do provide a good base to help one search for the perfect fit with a business school.
Before addressing that head-on, there are some basics that one needs to know about business school rankings of the best MBA colleges in the world.
100 Best Business Schools in the World 2024
Rank | Business School | Country |
1 | Columbia Business School | USA |
2 | Insead /Singapore | France/Singapore |
3 | IESE Business School | Spain |
4 | Harvard Business School | USA |
5 | Stanford Graduate School of Business | USA |
6 | SDA Bocconi School of Management | Italy |
7 | University of California at Berkeley: Haas | USA |
8 | Cornell University: Johnson | USA |
9 | Northwestern University Kellogg School of Management | USA |
10 | Yale School of Management | USA |
11 | MIT: Sloan | USA |
12 | Duke University’s Fuqua School of Business | USA |
13 | University of Chicago: Booth | USA |
14 | UCLA Anderson School of Management | USA |
15 | Dartmouth College: Tuck | USA |
16 | London Business School | UK |
17 | HEC Paris | France |
18 | University of Virginia: Darden | USA |
19 | New York University: Stern | USA |
20 | Ceibs | China |
21 | University of Southern California: Marshall | USA |
22 | IE Business School | Spain |
23 | Shanghai University of Finance and Economics: College of Business | China |
24 | University of Cambridge: Judge | UK |
25 | National University of Singapore Business School | Singapore |
26 | University of Michigan: Ross | USA |
27 | ESCP Business School | France/Italy/Spain/UK/Germany |
28 | University of Oxford: Saïd | UK |
29 | Rice University: Jones | USA |
30 | Esade Business School | Spain |
31 | Washington University: Olin | USA |
32 | IMD | Switzerland |
33 | Georgetown University: McDonough | USA |
34 | University of Washington: Foster | USA |
35 | University of North Carolina: Kenan-Flagler | USA |
36 | Emory University: Goizueta | USA |
37 | Imperial College Business School | UK |
38 | Nanyang Business School NTU Singapore | Singapore |
39 | Indian School of Business | India |
40 | University of Florida: Warrington | USA |
41 | HKU Business School | Hong Kong |
42 | HKUST Business School | Hong Kong |
43 | Michigan State University: Broad | USA |
44 | Vanderbilt University: Owen | USA |
45 | University of Rochester: Simon Business School | USA |
46 | Alliance Manchester Business School | UK |
47 | Edhec Business School | France |
48 | Fudan University School of Management | China |
49 | Carnegie Mellon: Tepper | USA |
50 | University of Texas at Austin: McCombs | USA |
51 | Indian Institute of Management Ahmedabad | India |
52 | Indian Institute of Management Bangalore | India |
53 | Arizona State University: WP Carey | USA |
54 | University of California at Irvine: Merage | USA |
55 | Warwick Business School | UK |
56 | Mannheim Business School | Germany |
57 | University of Maryland: Smith | USA |
58 | George Washington University | USA |
59 | University of Texas at Dallas: Jindal | USA |
60 | University of St Gallen | Switzerland |
61 | Singapore Management University: Lee Kong | Singapore |
62 | University of Georgia: Terry | USA |
63 | Rotterdam School of Management, Erasmus University | Netherlands |
64 | CUHK Business School | Hong Kong |
65 | Georgia Tech Scheller College of Business | USA |
66 | Bayes Business School (formerly Cass) | UK |
67 | University of Toronto: Rotman | Canada |
68 | WHU – Otto Beisheim School of Management | Germany |
69 | University of Massachusetts Amherst: Isenberg | USA |
70 | Essec Business School | France/Singapore |
71 | Queen’s University: Smith | Canada |
72 | University of Notre Dame: Mendoza | USA |
73 | Boston College: Carroll | USA |
74 | Texas A & M University: Mays | USA |
75 | Boston University Questrom School of Business | USA |
76 | Indian Institute of Management Calcutta | India |
77 | EMLyon Business School | France |
78 | Northeastern University: D’Amore-McKim | USA |
79 | University of Pittsburgh: Katz | USA |
80 | Durham University Business School | UK |
81 | William & Mary: Mason | USA |
82 | Sungkyunkwan University GSB | South Korea |
83 | McGill University: Desautels | Canada |
84 | Western University: Ivey | Canada |
85 | The Lisbon MBA Catolica | Nova – Portugal |
86 | Audencia | France |
87 | Trinity College Dublin Trinity Business School | Ireland |
88 | Cranfield School of Management | UK |
89 | Indian Institute of Management Indore | India |
90 | Indian Institute of Management Lucknow | India |
91 | Tias Business School Tilburg University | Netherlands |
92 | Brigham Young University: Marriott | USA |
93 | Vlerick Business School | Belgium |
94 | University College Dublin: Smurfit | Ireland |
95 | Babson College: Olin | USA |
96 | AGSM at UNSW Business School | Australia |
97 | Birmingham Business School | UK |
98 | Frankfurt School of Finance and Management | Germany |
99 | University of California at Davis | USA |
100 | Eada Business School Barcelona | Spain |
1.
University of Pennsylvania: Wharton
United States
2.
London Business School
United Kingdom
3.
MIT Sloan School of Management
United States
4.
Harvard Business School
United States
5.
University of Oxford: Saïd
United Kingdom
6.
Columbia Business School
United States
7.
University of Pennsylvania: Wharton
United States
8.
London Business School
United Kingdom
9.
MIT Sloan School of Management
United States
TOP 3 Mistakes People Make While Looking at Business School Rankings
What Makes the 10 Best Business Schools Different
Business schools across the board have faced a “slowdown” in the past couple of years. As tier 3 or 4 business schools face challenges due to the slowdown, the top 10 Business Schools stay unfazed.
Why?
Have you ever stopped to think why a business school in the top 10 business school list is different from the ones in the top 20 or the top 30? How is it that a “slowdown” affects the tier 3 or 4 schools and hardly makes a dent in the acceptance rates at top tier schools?
The answer is more than just the brand that the top 10 business schools have created for themselves.
Recruitments
Yes, the top 10 business schools in the world receive a better recruiter group than the remaining business schools. Just like top recruiters get to choose the cream of the class at a top school, a top school also gets to choose the cream of all recruiting organizations. But that isn’t the only way that recruitments make the top 10 business schools special.
Career Impact staff at the top MBA colleges in USA have been noted to maintain close relations with top recruiters. The activeness of the CI staff doesn’t end here. They are known to pay close attention to each student by prepping them for recruitment and helping them network with the alumni since the very first day of school.
Firms like Goldman Sachs, JP Morgan Chase, and Morgan Stanley are some of the top MBA recruiters with the highest paying jobs. These firms, tend to teeter between the top 10 business schools every year, leaving only a few slots for the top 20 or top 30 universities for MBA.
Recruitments are also easier for international students at a top business school. Finding organizations that sponsor a work vise like the H1B Visa for the United States, becomes much easier due to the volume of recruiters and the active Career Impact cells.
Resources
I feel just reading the list of things that set a top 10 school apart from the rest of the business schools would make one guess what the explanation could be.
Without a doubt, the top 10 business schools in the world enjoy the best faculty for business education. The faculty at such schools is generally a mix of academics and top-level executives from various fields who either take guest lectures or hold seminars.
These are schools that pioneer teaching methodologies, and projects such as MIT Sloan’s Action Learning Labs. These methods then trickle down to other business schools.
Other than the faculty, the diversity of the MBA class is also an additional resource. Since the top b schools in the world enjoy their pick of the applicants, creating a diverse (culture, race, religion, lifestyles, social experiences, etc.). Dealing with a diverse set of individuals in their MBA education stimulates students to be innovative in their solutions while keeping “diversity in ideologies” as a factor.
Another resource whose quality declines as business school ranks get higher is networking. Since top schools ensure the maintenance of a strong alumni network and have alumni placed in high-level jobs at corporate giants, the quality of networks that students get to make is much higher than a tier 3 school.
Scholarships and fundraising
Since the Top 10 business schools have created a brand for themselves, fundraising for scholarships is much easier. Most MBA programs from the top business schools, though do not provide full-ride scholarships, provides scholarships to about 50% of their students.
At schools like Harvard, about 90% of the students get some form of scholarship. With tuitions for top business schools going over $200,000, these schools do not rely on the applicant to pay, in full, for their education.
The sense of community and school spirit these schools instill in their students, many alumni also donate to the schools often. Just a few years ago, Ratan Tata donated $50 million to his alma mater Harvard, a top 10 US Business School.
Here’s a table of the best mba colleges in world with scholarship along with their scholarship details:
School Name | Location | Scholarship Details |
Harvard Business School (HBS) | Boston, Massachusetts | About 50% receive need-based support; average aid is $80,000 total. |
CEIBS – China Europe International Business School | Shanghai, China | 30% of the cohort received scholarships; 40% received loans. |
Stanford Graduate School of Business (GSB) | Stanford, California | Average award is $70,000 total; based on needs. |
The Wharton School, University of Pennsylvania | Philadelphia, Pennsylvania | Various fellowships; many sponsored by companies and foundations. |
Duke University Fuqua School of Business | Durham, North Carolina | Merit-based; ranges from partial to full tuition. |
INSEAD – Europe Campus | Fontainebleau, France | More than 90 scholarships; based on merit or financial need. |
Georgetown University – McDonough School of Business | Washington D.C. | Over $1.5 million in merit-based scholarships; veterans funding. |
F.W. Olin Graduate School of Business, Babson College | Babson Park, Massachusetts | Full tuition fellowships; diverse specific awards available. |
London Business School (LBS) | London, United Kingdom | Alumni-funded; academic and professional merit; diverse awards. |
Kellogg School of Management, Northwestern University | Evanston, Illinois | Merit scholarships; diversity scholarships; need-based aid. |
Best Business Schools - Top 10 Vs Top 20 Vs Top 30
To make the comparison of the Top 10 Business Schools Vs Top 20 Business Schools Vs Top 30 Business Schools easier, we have selected one middle-ranked school from each section. From the Top 10 Business Schools, we have Stanford Graduate School of Business. For the Top 20 Business Schools, University of Virginia (Darden) is the middle school. And McDonough School of Business at Georgetown University will be used as the comparison school for the Top 30 Business Schools.
Here are the main differences between the top 10, top 20, and the top 30, business schools in the world.
Criteria | Top 10 Business Schools (Stanford Graduate School of Business) | Top 20 Business Schools (Darden School of Business) | Top 30 Business Schools (McDonough School of Business) |
Rank | #6 | #14 | #24 |
Acceptance Rate | 8.6% | 50.9% | 34.2% |
Tuition | $76,950 per year | $62,370 per year | $71,112 |
Average GMAT score | 737 | 697 | 720 |
Average GPA | 3.76 | 3.29 | 3.51 |
Average Base Salary | $181,461 | $136,991 | $156,670 |
International students | 33.3% | 39.1% | N/A |
Graduates Employed at Graduation | 61.2% | 84.5% | 90.7% |
Discover the best business schools in Europe that are setting new educational standards and preparing future leaders.
| Rank | Business School | Average Salary | Average GMAT Score |
|---|---|---|---|
| 1. | INSEAD | $179,661 | 711 |
| 2. | London Business School | $169,675 | 701 |
| 3. | Cambridge | $163,508 | 691 |
| 4. | HEC Paris | $142,622 | 690 |
| 5. | IESE Business School | $148,480 | 681 |
| 6. | Saïd | $151,944 | 690 |
| 7. | IMD | $161,443 | 680 |
| 8. | IE Business School | $153,547 | 670 |
| 9. | Mannheim | $96,000 | 675 |
| 10. | SDA Bocconi | $130,628 | 665 |
Discover the best Asian business schools that are setting new educational standards and preparing future leaders.
Rank | School Name | Average Salary | Average GMAT Scores |
1st | INSEAD | $113,900 | 710 |
2nd | CEIBS | $85,792 | 688 |
3rd | NUS Business School | $77,109 | 670 |
4th | Indian School of Business | $41,147 | 710 |
5th | Fudan University School of Management | $138,087 | 650 |
6th | HKUST Business School | $77,390 | 670 |
7th | Nanyang Business School | $93,000 | 670 |
8th | Peking University Guanghua School of Management | $156,488 | 670 |
9th | CUHK Business School | $101,447 | 700 |
10th | Singapore Management University: Lee Kong Chian School of Business | $127,153 | 660 |
Rank | School Name | Average Starting Base Salary |
#1 | University of Chicago (Booth) | $175,000 |
#2 | Northwestern University (Kellogg) | $165,000 |
#3 | University of Pennsylvania (Wharton) | $175,000 |
#4 | Massachusetts Institute of Technology (Sloan) | $165,000 |
#5 | Harvard University | $175,000 |
#6 | Dartmouth College (Tuck) | $175,000 |
#6 | Stanford University | $182,272 |
#8 | University of Michigan–(Ross) | $165,000 |
#8 | Yale University | $160,110 |
#10 | New York University (Stern) | $161,475 |
10 Best Business Schools in Canada
Sr. No. | MBA College | Average Salary including bonus (CAD) |
1 | The University of Toronto – Rotman School of Management | $87,000 |
2 | Queen’s Smith School of Business | $92,084 |
3 | Western University – Ivey Business School | $117,997 |
4 | McGill University – Desautels Faculty of Management | $85,500 |
5 | York University – Schulich School of Business | $94,200 |
6 | UBC Sauder School of Business | $98,336 |
7 | Alberta School of Business | $62,495 |
8 | Concordia University – John Molson School of Business | $98,051 |
9 | HEC Montréal | $90,754 |
10 | Rowe School of Business | $$64,000 |
10 Best Business Schools in Australia
Rank | University | City |
1 | University of Melbourne | Melbourne |
2 | Monash University | Melbourne |
3 | The University of Queensland | Brisbane |
4 | Australian National University | Canberra |
5 | UNSW Sydney | Kensington |
6 | University of Sydney | Sydney |
7 | Griffith University | Brisbane, Gold Coast, Logan |
8 | The University of Western Australia | Perth |
=9 | Queensland University of Technology | Brisbane |
=9 | University of Technology Sydney | Sydney |
10 Best Business Schools in India
Rank | Top MBA Colleges in India 2023 | Average Salary |
1 | IIM Calcutta | INR 34,20,000 |
2 | ISB (Indian School of Business)* | INR 34,08,000 |
3 | IIM Bangalore | INR 33,82,000 |
4 | IIM Ahmedabad | INR 33,81,865 |
5 | FMS Delhi** | INR 32,40,000 |
6 | SPJIMR Mumbai | INR 32,05,000 |
7 | IIM Lucknow | INR 31,03,000 |
8 | XLRI Xavier School of Management | INR 30,70,000 |
9 | IIM Indore | INR 25,01,000 |
10 | MDI Gurgaon – Management Development Institute | INR 23,80,000 |
Best MBA College in World for Indian Students
When considering the best MBA college in the world for Indian students, it’s essential to look at institutions that offer not only excellent academic rigor but also a global perspective and a strong alumni network. Indian students often gravitate towards prestigious international business schools known for their diverse student body and top-tier faculty. However, within India, the Indian Institutes of Management (IIMs), spread across various locations, are renowned for their high standards of education and strong industry connections. Among these, IIM Ahmedabad, Bangalore, and Calcutta often lead the pack, offering programs that are highly valued both in India and abroad. Additionally, the Indian School of Business (ISB), with its campuses in Hyderabad and Mohali, stands out for its world-class curriculum and its success in attracting a global set of faculty and students. ISB’s one-year PGP program is particularly appealing for those seeking a shorter duration course without compromising on the quality of education. Both IIMs and ISB provide an enriching environment where Indian students can hone their business acumen, leadership skills, and entrepreneurial spirit, making them some of the best MBA colleges in the world for Indian students.
Optimizing Business Schools MBA Rankings
Start by knowing that a rank 11 college is as good as a rank 10 college even though it’s not in the Top 10 business schools. In simple terms, don’t look at individual numbers. I prefer looking at the ranks in clusters of 5.
If you wish to know what group of schools share similar compensation, and faculty to your target business school, select two schools before it and two schools after it.
For example, if your target school is ranked 16, schools from the rank 14-18 will have similar attributes to your target school. What works for me might not work for you. Thus, having a more detailed way to optimize a business school ranking is necessary.
1. Limitations of MBA College Rankings
One very important thing to remember while using B-school rankings for zeroing down on the right school is its limitations. For instance, the Forbes list only takes compensation into account while awarding ranks to business schools. If your inclination is towards a non-profit organization or entrepreneurship, the Forbes’ ranking would be of no value to you.
2. Research a cluster of schools
The cluster of 5 schools I detailed above can greatly help during school selection. Since rankings generally rely on quantifiable data, things like school value, student culture, and school location need to be researched separately. These are leading factors in a student’s success or failure at business school.
If you aren’t a good fit with the student culture or the school values, the chances of the admissions committee rejecting your application would be much higher. Researching the cluster of five will help you find a school that provides the statistical benefits that you were looking for, along with the aforementioned unquantifiable factors.
3. Choose a reliable source
The variety of business school rankings available only makes the applicants’ work harder. Do not rely on any ranking available to you. Choose some reliable sources as mentioned at the beginning of this blog.
Going to publications like US News, Bloomberg, Forbes, etc. is smarter as their rankings are much more transparent than most others.
MBA Programs to look out for in 2024
Since there’s already a plethora of MBA rankings of top business schools available, listing them all in this blog seemed fruitless. Instead, it seems like a better idea to list a few best business schools in the world that are getting the press for all the good reasons. These are schools that are adding great value to the MBA community.
London Business School
Recently, London Business School’s student body organized its first mental health week. The week-long sessions of Yoga and Meditation have now become a tradition with the school moving into the third year of promoting mental health amongst MBA students.
CEIBS
The China Europe International Business School isn’t just rising fast in the business school rankings. Graduate compensation at CEIBS also saw a whopping 147% increase between the years 2015-2019.
Indian School of Business
Founded in 2001, ISB has quickly secured its spot amongst the top 30 business school in the world in Financial Times’ MBA rankings. For a school hardly two decades old, ISB boasts of a pleasantly surprising 98% employment rate for MBA graduates.
Nanyang Business School
Talking of young schools, Nanyang Business School Singapore is also fast becoming an MBA program to reckon with. Founded merely three decades ago, the school has quickly placed itself on the #35 spot on Financial Times’ business school rankings.
Saïd (Oxford University)
Another young school that has managed to mark a permanent spot in the top 25 business schools in the world for three years now is Oxford University’s Saïd. The school has jumped back and forth between the top 15 and the top 25 schools in the past three years and has become a bit of a wild card in the ranking lists.
The University of Chicago, Booth School of Business
Celebrating its 125th anniversary, Chicago Booth has marked a historic year by ascending to the top of the US News MBA ranking, surpassing rivals with higher pay, placement rates, and strong survey scores. The school also led the Executive MBA ranking by P&Q and placed second in Bloomberg Businessweek’s MBA ranking. The Class of 2025 further highlighted Booth’s excellence, boasting its largest and most diverse cohort in years, setting records in minority representation, female participation, and starting salaries. With the introduction of innovative degree programs in management and finance, Booth continues to expand its educational offerings, solidifying its position as a leading institution alongside elite schools like Stanford GSB, Harvard Business School, and Wharton School.
University Of California, Davis, Graduate School Of Management
The University of California, Davis, Graduate School of Management (GSM) exemplifies innovation in business education. Despite its small size, GSM has introduced groundbreaking programs, including the first online MBA and Master’s in Management in the UC system. Under Dean H. Rao Unnava’s leadership since 2016, the school has launched a successful Master’s in Business Analytics and expanded its online MBA, garnering top rankings. With new Master in Management programs and Stackable Certificates on the horizon, GSM continues to adapt and respond to market trends, offering versatile and cutting-edge education to both new and experienced professionals in the business world.
University of Virginia, Darden School of Business
Beyond its 198 guest rooms and luxurious amenities, the Forum Hotel represents Darden’s commitment to community and experiential learning. The introduction of new degree programs like the Master in Management and the Master of Finance, coupled with the school’s focus on sustainability and diverse case study methodologies, showcases Darden’s progressive approach to business education. With its recent record-breaking fundraising successes and top-tier rankings across various categories, Darden continues to excel as a hub for holistic, world-class business education, blending academic rigor with real-world relevance.
SDA Bocconi
SDA Bocconi School of Management has rapidly ascended in global rankings, securing 6th place in The Financial Times and topping Bloomberg Businessweek’s European list in 2023. This remarkable rise is attributed to the school’s strong focus on sustainability, innovative curriculum, and high alumni satisfaction rates. With impressive graduate compensation and top scores in networking and entrepreneurship, SDA Bocconi stands out for its strategic academic enhancements and state-of-the-art facilities. These achievements firmly establish SDA Bocconi as a leading contender in global business education.
Columbia Business School
Columbia Business School has dramatically ascended in global rankings, notably clinching the top spot in The Financial Times’ Global MBA Ranking in 2023. This achievement reflects the school’s strengths in graduate pay, faculty research, and alumni satisfaction. Innovatively responding to the digital and sustainable business landscape, CBS has integrated advanced research labs and courses like blockchains, AI, and media technology into its curriculum. The school’s state-of-the-art Manhattanville campus in New York City further enhances its appeal, offering unmatched access to industry leaders and opportunities. Columbia’s strategic initiatives and prime location position it as a premier destination for aspiring business leaders.
These best MBA colleges in the world are poised to shape the next generation of business leaders, providing unmatched value, cutting-edge knowledge, and boundless prospects for success.
FAQs
1. How to do MBA from the Best colleges in the world?
To pursue an MBA from the best colleges in the world, start by researching institutions known for their excellence in business education. Consider factors like program curriculum, faculty, alumni network, and career outcomes. For the best mba college in world for Indian students, it often combines global recognition with a curriculum that aligns with their career aspirations. Ensure you meet the prerequisites, such as a good GMAT/GRE score, relevant work experience, and a strong application essay. Also, attend college fairs and information sessions, and connect with alumni for insights.2. What are best MBA colleges in World?
The best MBA colleges in the world are those that offer comprehensive programs, experienced faculty, and robust career opportunities. Renowned institutions like Harvard Business School, Stanford Graduate School of Business, and INSEAD consistently rank high. For Indian students, considering schools that have a strong global network and resources for international students is important. Also, look into institutions like IIMs and ISB within India, known for their rigorous MBA programs and global recognition.3. What is the best MBA accreditation in the world?
The best MBA accreditation in the world typically refers to the recognition given by major international accreditation bodies. These include AACSB (Association to Advance Collegiate Schools of Business), AMBA (Association of MBAs), and EQUIS (EFMD Quality Improvement System). Accreditation from these bodies ensures that the MBA program meets high standards of quality and rigor, offering a globally recognized curriculum and faculty.4. Which are the most affordable MBA colleges in the world?
The best affordable mba colleges in the world offer quality education without the high price tag of top-tier schools. Many European and Asian institutions provide affordable MBA options without compromising on quality. Countries like Germany, Spain, and Canada have schools with lower tuition fees. Additionally, many institutions offer scholarships, making them the best MBA colleges in the world with scholarships for students seeking a budget-friendly, yet quality MBA education.
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