When it comes to business school rankings, the Financial Times MBA Ranking is among the best. This year’s ranking is the 25th edition of the list and continues to be the place that prospective business students go to find the best business schools in the world.
But rankings alone don’t always tell you everything you need to know about studying at a business school. Though the methodology for the Financial Times ranking takes into account career progress, graduate salaries, and diversity of faculty, it’s missing one thing: student opinions. And this factor can be crucial when you’re deciding between the best business schools in the world.
Luckily, student opinions are available to read on EDUopinions! So, we’ve analysed the FT 2023 MBA ranking of the best business schools in the world and highlighted what students really think about these schools.
Which are the best Business Schools in the World?
For the first time, the best business school in the world is Columbia Business School – a b-school that has sat in the top 10 in previous years but never reached the top spot. In fact, Columbia’s average ranking position over the last 25 years is 4.63. Both Harvard Business School and the University of Pennsylvania: Wharton has appeared at the top spot for multiple years between 2000-2022, making Columbia’s win all the more enjoyable.
Unsurprisingly, the majority of the top 20 positions are filled with US business schools: Harvard Business School, Stanford Graduate School of Business, and Cornell University: Johnson, among others. This US domination can be put down to the high salaries that graduates of these universities achieve after their MBA, as well as the historic reputation of US MBAs. It’s worth noting, though, that as high as US graduate salaries are, the cost of an MBA in the US is also considerably higher.
Where do European Business Schools Stand in the Ranking?
It’s not just US schools in the ranking – 30% of the top 20 is filled with non-US schools. This includes INSEAD, which takes the number two spot on the list of best business schools in the world. Similarly, the top Asian business school on the list, CEIBS, rounds off the top 20.
Similarly, five UK business schools feature in the top 50: London Business School, University of Cambridge: Judge, University of Oxford: Saïd, Imperial College Business School and Alliance Manchester Business School. This makes UK business schools the most prolific in the top positions of the list after the US.
The only Italian business school in the top 20, SDA Bocconi School of Management, has significantly improved its ranking over the last three years. In 2021, SDA Bocconi appeared at 12 on the list, rising to number 6 this year.
Now that we’ve looked at some of the highlights and rising stars of the 2023 FT MBA Ranking, let’s see what students say about these best business schools in the world.
Student Reviews of the Best Business Schools in the World
To give you an idea of what students think about the best business schools in the world, we’ve collected student reviews for the top 20 schools on the FT ranking. Unfortunately, EDUopinions hasn’t collected any reviews for CEIBS, number 20 on the list. Consequently, we’ve replaced CEIBS with the 21-ranked school, the University of Southern California: Marshall.
These reviews offer a different perspective on studying at some of the world’s best business schools, helping you make a better decision about where to study for business school.
Columbia Business School
In addition to showing Columbia’s Ivy League status, the campus environment instills a sense of campus pride in students. The presence of Low Library, Butler Library, and the Alma Mater Statue right in the heart of campus burns loyalty in the hearts of students. Tuition fees are incredibly high, but the experience is worth what you pay. The staff are always helpful and most teachers have an open door policy, which makes it easy for students to approach and ask questions. Classes are generally small, allowing more attention to be given to each student, and teachers are happy to answer questions. In fact, when no questions are asked, the professors seem disappointed! If you can afford it or get a scholarship, Columbia University is a good choice.
INSEAD
Just graduated and I just want to say how amazing my journey so far has been since I started at INSEAD. The school offers some of the best lecturers to help you learn everything you might need in the modern business world. The school has a variety of facilities to offer and there is something for everyone here. I made a whole bunch of friends and I met so many more amazing people throughout my life here. Meeting people from all over the world and being exposed to such a diverse student community was unreal to me.
IESE Business School
The MBA at IESE Business School is academically intense, diverse and very interesting. Beyond the academics, however, there are so many opportunities to get involved with the school and your community. Clubs, case competitions, sports, music and other events organised by fellow students. This programme offers two years of incredible experiences that really are holistic and allow you to explore who you are and what you want to do.
Harvard Business School
Harvard Business School was by far, the best learning experience I ever had. In my 4-month course duration, I read more material, cases and books than ever in my life – but it was worth every minute of my time invested – it felt like every second I spent at Harvard was teaching me something, transforming me as a global leader from within!
Stanford Graduate School of Business
As a student at Stanford University, I am of the opinion that computer science with business is an excellent combination for those interested in technology and entrepreneurship. This program offers a unique opportunity to learn both technical and business skills, which are essential for success in today’s fast-paced and competitive job market.
One of the biggest advantages of studying computer science with business at Stanford is the strong focus on innovation and entrepreneurship. The program encourages students to think creatively and develop new ideas, and provides them with the tools and resources they need to turn those ideas into successful businesses.
Additionally, Stanford is home to some of the most renowned faculty members in the field of computer science and business. Students have access to their expertise and guidance, and are encouraged to collaborate with them on research projects and other initiatives.
Another advantage of this program is the flexibility it offers. Students can choose from a wide range of electives, allowing them to tailor their education to their specific interests and career goals. They can also take advantage of the numerous internship and job opportunities available in the tech industry, which is thriving in the Bay Area.
SDA Bocconi School of Management
I like Bocconi because of the rules that run this university. It’s full of different rules that work for everyone, students and professors. Things are pretty much clear and everyone seems to be helpful. Moreover, I like the way they schedule and create the exams, almost every exams fit the knowledge of the students. Furthermore, you could also find friendly classmates to share your university experience. But we also have bad news. Sometimes the strictness of the rules are too much. They show no flexibility, for me that is not good. Then we also have competition between classmates, everyone want to be the greatest. To conclude, Bocconi is the perfect university if you want to increase your knowledge and your attitude to the job market.
University of California at Berkeley: Haas
The environment at UC Berkeley is abundant with activism, diversity, and a commitment to education, which are all principles that I deeply cherish. Students have the chance to expand their horizons beyond their own backgrounds and benefit from a wide range of perspectives. If I could choose again, I would unquestionably opt for attending Cal. It is undeniable that attending Berkeley will undoubtedly have a transformative impact on your life. Go Bears!!!
Cornell University: Johnson
I’m thoroughly impressed with the courses and the people at Cornell. The variety of unique and captivating courses is exceptional, and it’s evident that the majority of the staff and faculty are sincerely invested in your success. Additionally, forming friendships with fellow students has been a delightful experience, as they hail from diverse backgrounds and consistently support one another.
Northwestern University, Kellogg School of Management
I am certain in stating that my experience was exceptional. Partaking in the program allowed me to establish a robust foundation in data analytics and obtain the necessary proficiencies for succeeding in my chosen profession. The program stood out for its thorough curriculum. It spanned across numerous topics. Furthermore, the faculty at Northwestern University significantly contributed to my achievements. The individuals possessed knowledge, expertise, and a sincere interest in the achievement of their students.
Yale School of Management
A top-notch graduate program in business management at Yale University’s Graduate School of Management prepares students for leadership roles in today’s fast-paced global business environment. With a thorough educational program and a different local area of understudies, workforce, and graduated class, the program gives an unrivaled instructive encounter.
As an alumni understudy in Business The board at Yale, you will approach many state of the art assets, including cutting edge innovation, industry-driving workforce, and creative exploration open doors. You will acquire a profound comprehension of the most recent patterns and best practices in business the board, from promoting and money to tasks and hierarchical way of behaving.
The program emphasizes practical experience through internships, case studies, and real-world projects in addition to the academic curriculum. You will have the chance to work for some of the best businesses and organizations in a variety of industries, which will help you learn new skills and build a professional network that will be helpful to you throughout your career.
Additionally, Yale’s Graduate School of Management provides a community that values diversity and collaboration and is open to all. You will have access to a vibrant alumni community who are experts in their fields and eager to assist you in achieving your goals.
A graduate degree in business management from Yale University will equip you with the knowledge, skills, and network you need to succeed in today’s global economy, whether you want to advance your business career or start your own business.
Duke University’s Fuqua School of Business
Graduated with an MBA. The classes were very insightful and engaging. The staff are very easy to deal with. The teachers and students, are truly amazing people. Grateful to all the people I’ve met along the way at Duke. I’ve learnt a great deal that will help me in my future endeavors. The campus itself is a marvel, it is beautiful.
MIT: Sloan
I have been part of their one-year Masters program and for me, that program shaped my outlook on career related milestones and helped me develop the relevant skillset. This was further enhanced but the wide range of networking events and guest lectures where you could get in touch with major market players and devise your career paths accordingly. For me, the highlight of the program was the ability to reach out to lecturers and market leaders without any hindrance or red-tape. One thing to consider is their tough academic schedule; managing social life along with a strict academic setup might be difficult for most of the students.
University of Chicago: Booth
I had always wanted to go to a business school for a long time but along the line, I became anxious because I had an issue picking out the best college that would really help me fulfill my dream and then I came across the University of Chicago and it has completely swept me off my feet since I got here. I’m really excited to be a student of this wonderful school.
UCLA Anderson School of Management
Being a student at the University of California has been life-changing. The excellent education, supportive community, and growth opportunities have equipped me for the professional world. I’m proud of my association with the university and I highly recommend it to anyone looking for a top-notch education and a fulfilling university experience.
Dartmouth College: Tuck
The environment at this college is a top tier. It makes learning easier, quick accessibility of teachers, students,co_workers and everything about it is just unique, leave alone the cleanness, fresh air that comes with it. I’m in love with this this college and words alone are not enough to explain how I feel being part of this community
London Business School
The environment at this college is a top tier. It makes learning easier, quick accessibility of teachers, students,co_workers and everything about it is just unique, leave alone the cleanness, fresh air that comes with it. I’m in love with this this college and words alone are not enough to explain how I feel being part of this community
HEC Paris
Overall poor teaching (teachers tend to impose their points of view instead of encouraging discussion). The school is not known outside of France and in France, they don’t really like MBAs ( they prefer Grand Ecole/Masters in Management). Poor career prospects (in relation to top MBAs from the USA). The school does not offer courses besides the basic in management (poor selection of “general culture” or other learning opportunities). Personaly I was really disappointed by this school.
University of Virginia: Darden
The University of Virginia is a wonderful place to be and study at. The community around this campus is friendly and the environment is so conducive for learning. A modern library is available that helps Students to have space for personal studies and they can also carry out their research studies. I joined this campus in the school of business to study commerce.
New York University: Stern
The experience of going to New York University (NYU) has been transformational. An environment that is conducive to study is created by the lively campus and multicultural community. NYU provides a comprehensive education that goes beyond the classroom thanks to the access to limitless opportunities in the center of New York City. The student experience is further improved by the support services and extracurricular activities. I wholeheartedly endorse NYU as a fantastic university.
University of Southern California: Marshall
Here in USC, you’ll get to meet a very nice and welcoming community of people The community here is very strong, and unmatched, it brings people with diverse backgrounds together. Also, The campus life and social life is an amazing experience too. There are so many opportunities for students to engage with one another, find entertainment, or be part of extracurriculars that fulfill interests and passions.
Conclusion
While the Financial Times ranking may not be the definitive list of the best business schools in the world, it’s a starting point if you’re looking to study at a rigorous school. Remember, there are plenty of other rankings out there, all with different methodologies. So, if you are using rankings to help influence your decision on where to study, try to look at a few different ones.
However you make your decision, it’s important to look at lots of different factors to find the school that’s best for you. This includes rankings, student reviews, institution websites, open days, and even speaking to alumni directly.
Have you decided which business school to attend, but don’t know where to start with your application? Then check out our blog on getting a good recommendation letter.