What the Financial Times EMBA Ranking tells MBA Students

The FT EMBA ranking is the result of a complex evaluation method that is based on 17 weighted criteria, placing special emphasis on the earnings and career development of graduates as well as on the quality of the MBA program. The FT collects its data directly from graduates (29%), with business schools providing mainly quantitative data on program participants, faculty members, program content, research activities and ESG footprint (71%).

But what kind of information can future MBA students draw from the individual categories of the FT EMBA ranking, and are there interesting insights to be gained that are accessible only at a second glance?  

Which Business Schools Can Enter the FT EMBA Ranking in the First Place?

In order to participate in the MBA ranking, the Financial Times requires business schools to be accredited by either AACSB or EQUIS. In addition, a class must complete the MBA together as a cohort and consist of at least 30 participants.

Changes in the FT EMBA Ranking: Overview of Adjustments

The order of the Executive MBA programs in the FT EMBA Ranking is based on the following criteria, which, however, have changed repeatedly in recent years in terms of new categories and weighting. Since 2018, four categories have been added, with only three having an impact on the actual result, and one category has been deleted. The most important adjustments to the FT EMBA ranking in recent years are listed below:

• 2018: CSR, now called ESG and net-zero teaching 

• 2020: Overall satisfaction (not included in the ranking – additional information for potential students) 

• 2022: Extra language removed from the ranking 

• 2023: Carbon footprint 

• 2024: Alumni network 

The 17 Categories of the FT EMBA Ranking Explained

Below you will find the 17 ranking factors of the FT EMBA Rankings that significantly influence the evaluation of MBAs. Each metric provides insight into different aspects of an MBA program and enables prospective students to make an informed decision about their choice of study.  

Here are the individual FT EMBA Ranking categories with their weightings and relevant facts: 

Salary Today and Salary Increase

Weight: 15% and 16% respectively. The first two alumni-related criteria are the average salary three years after graduation and the salary increase in comparison to the pre-MBA salary. For the salary increase, both the absolute increase and the increase relative to the pre-MBA salary are considered. The salaries are converted into US dollars.

This weighting of the salary criteria, amounting to 40% of the total ranking, makes it increasingly harder for business schools from Europe and CEE to compete with their Asian counterparts in the FT MBA Ranking. At first glance, this makes perfect sense. But at second glance, this also means that, for instance, European schools cannot compete with salary increases beyond 100% for alumni of Chinese elite universities and thus face a grave competitive disadvantage that is very difficult to compensate even with excellent results in the other categories. So, with regard to salary, the FT EMBA ranking paints a slightly one-dimensional picture, as a certain rank does not necessarily denote an MBA program’s quality. 

 Career Progress

Weight: 6%. Career progress is calculated based on the level of seniority and the size of the company alumni work in three years after graduation in comparison to before their MBA studies.

Work experience

Weight: 5%. “Work experience” refers to the relevant pre-EMBA work experience of alumni, considering the seniority of positions held, number of years in each position, company size, and work experience abroad. Participants significantly contribute to an MBA program’s quality. The more experienced they are, the more their classmates benefit, and vice versa

Aims Achieved

Weight: 5%. This category of the FT MBA ranking explores the extent to which alumni reached their goals, or whether or not completing the MBA has paid off for them. A high percentage suggests that future MBA students can expect the program to live up to their expectations. 

Alumni Network

Weight: 4%. For this criterion, former participants rate the effectiveness of the alumni network in terms of career opportunities, founding start-ups, recruiting employees, and the quality of career events. The better the rating, the more alumni feel supported by the business schools in their careers. An important aspect, as the relationship between participants and the business school does not end after graduation, but ideally becomes a lifelong relationship from which both sides benefit. 

 Female Faculty, Female Students and Women on Board

Weight: 5% for the first two categories, 1% for the third. Percentage of female faculty, students, and members on the advisory board. Diversity is a key criterion when it comes to the quality of an MBA program. This does not only apply to participants and faculty but also to the make-up of the advisory board. 

International Faculty and International Students

Weight: 5% each. These criteria evaluate the diversity of the faculty and students. To this end, the percentage of faculty members and participants from a country other than the country in which the MBA program takes place is calculated.

The quality of faculty members is reflected in their practical experience, apart from their teaching and research activities, as well as in their experience abroad. Such experience enables them to teach students about the particulars of various national and international markets. The same applies to the make-up of the class. Participants contribute to the MBA program through their wide range of professional and personal experience in different industries, functions, and cultures. For the quality of an MBA program, this is as important as the experience of the faculty members. The higher both percentages are, the higher the chances are to learn something new throughout the MBA. 

 International Board

Weight: 1%. The FT EMBA Ranking uses this criterion to describe the percentage of advisory board members whose citizenship differs from the country in which the MBA program is offered. The board is of great importance as it offers crucial advice in the development of an MBA program. An advisory board made up of members with vast international experience contributes to creating a program fit to the challenges of a globalized and digitalized world.  

 International Course Experience

Weight: 4%. This category of the FT EMBA Ranking deals with the percentage of classroom teaching hours that are conducted outside the country in which the business school is situated. A high percentage indicates that students will gain a wealth of international experience in the course of their studies – either by taking part in international study travels or by attending lessons at one of the business school’s partner institutions abroad. In general, such modules consist of specific lessons at local partner universities and company visits, which allow participants to closely get to know companies directly at their premises and talk to top managers about their experiences.  

Faculty with Doctorates and FT Research Rank

Weight: 5% and 10%, respectively. Both criteria show the quality of research conducted at a business school. In addition to the percentage of faculty members with doctorates, the FT EMBA ranking takes a closer look at the number of papers published by faculty members of a business school in 50 of the most significant international journals. This number is then weighted according to the faculty’s size.

Excellence in research directly benefits a business school’s students. Not only can faculty members incorporate the most recent findings in their teachings, they are also experts in presenting these findings in a manner suitable for students, enabling them to easily put the lessons learned into practice. This means: the higher the quality of research, the more up-to-date contents are. 

ESG and Net-Zero Teaching

Weight: 3%. The FT EMBA Ranking added a new evaluation criterion in 2018 (corporate social responsibility), which it has since renamed: ESG and net-zero teaching. The FT looks at the proportion of individual modules in the curriculum that deal with the topics of CSR, ethics and social or environmental issues, i.e., how companies can become net-zero.

For quite some time now, MBA programs have been criticized for being too fact- and knowledge-heavy and for not equipping managers with the skills to lead responsibly and be aware of the impact of their actions. The higher an MBA is ranked in this category, the more comprehensively the curriculum addresses topics such as ethics, sustainability and responsible leadership. 

 Carbon Footprint

Weight: 4%. This category calculates the FT's net-zero carbon emissions target set by the university and/or school and whether a publicly available audit report on carbon emissions is available. Schools with an audit report that also includes category 3 emissions (emissions that are not directly controlled by the school but occur externally in its value chain because of its activities) receive additional recognition.

For many (prospective) MBA students, sustainability awareness plays an important role. A school that focuses on sustainable education corresponds to their personal values and strengthens their career opportunities in areas such as ESG and CSR. At the same time, an MBA from a school with a sustainable focus is particularly valued by companies that focus on CO2 reduction. 

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