GMAT Club
2025–26 Rankings Updated September 2026

Best Masters in Management Programs

Compare QS and Financial Times rankings for the world's top Master in Management programs — side-by-side, year-over-year.

QS QS Business Master's Rankings 2026 FT FT Masters in Management 2026
50
Programs
2
Ranking Sources
YoY
Trend Tracked
Quick Answer Based on QS & FT 2026 data

HEC Paris  holds the #1 spot in QS 2026, while the University of St. Gallen leads the FT 2026 ranking for the 15th time in 16 years. Below the top spot the FT list moved sharply: Nova SBE climbed to #2, Shanghai Jiao Tong (Antai) to #3, and Rabat Business School became the first African program to reach the top 10. France remains the deepest country on both lists, followed by the UK and Germany.

Top performers: HEC Paris — QS #1 St. Gallen — FT #1 FranceFrance12 schools UKUK7 schools GermanyGermany4 schools

Filter by Country

Rank Tier: 1Top 3 7Top 10 15Top 20 2521+ Not Ranked | +3Improved -2Dropped NEWNew Entry TBCOutside verified QS top 30

Top Masters in Management Programs

QS & Financial Times — 2025 vs 2026

HEC Paris
FranceFrance
#1 #5 #1 #2 = -3
University of St. Gallen
SwitzerlandSwitzerland
#1 #1 =
London Business School
UKUK
#2 #16 #4 #10 +2 -6
Nova School of Business and Economics
PortugalPortugal
TBC #2 #44 #4 +2
ESSEC Business School
FranceFrance
#3 #13= #3 #10 = -3
INSEAD
FranceFrance
#5 #4 #6 #3 +1 -1
Shanghai Jiao Tong (Antai)
ChinaChina
TBC #3 #91 #6 +3
CEMS
🌐Worldwide
#4 #10 +6
Tsinghua University School of Economics
ChinaChina
#4 NR
ESCP Business School
FranceFrance
#6 #6= #8 #7 +2 +1
Vlerick Business School
BelgiumBelgium
TBC #6= #35 #14 +8
IE Business School
SpainSpain
#7= #23 #9 #27 +2 +4
Northwestern (Kellogg)
USAUSA
#7= TBC
IESE Business School
SpainSpain
#11 #8 #11 #16 = +8
Tongji University School of Economics
ChinaChina
#8 NR
Imperial College Business School
UKUK
#9 #38 #15 #47 +6 +9
Stockholm School of Economics
SwedenSweden
#9 #9 =
Bocconi University
ItalyItaly
#10 #20 #13 #13 +3 -7
Rabat Business School
MoroccoMorocco
#10 #20 +10
Prague University of Economics
Czech RepublicCzech Republic
TBC #11 #17 +6
EMlyon Business School
FranceFrance
#16 #12 #17 #12 +1 =
ESADE Business School
SpainSpain
#12 #31 #16 #24 +4 -7
Copenhagen Business School
DenmarkDenmark
#13 #94= #14 +1 NEW
Erasmus (RSM)
NetherlandsNetherlands
#19 #13= #19 = NEW
SKEMA Business School
FranceFrance
#31 #13= #30 #18 -1 +5
EDHEC Business School
FranceFrance
#18 #17= #21 #14 +3 -3
London School of Economics
UKUK
#14 NEW
Warwick Business School
UKUK
#15 #56= #22 #40 +7 -16
Paris School of Business
FranceFrance
TBC #17= #43 +26
WU Vienna
AustriaAustria
#17 #21= #18 #18 +1 -3
WHU Otto Beisheim
GermanyGermany
#22 #19 #24 #22 +2 +3
Grenoble Ecole de Management
FranceFrance
#33 #39= #36 #20 +3 -19
Michigan Ross
USAUSA
#20 #23 +3
Indian Institute of Management Bangalore
IndiaIndia
#30 #21= #32 #28 +2 +7
University of Sydney Business School
AustraliaAustralia
#21 #51 #27 #77 +6 +26
ESMT Berlin
GermanyGermany
TBC #35 #75 #22 -13
Duke Fuqua
USAUSA
#23 #26 +3
Alliance Manchester Business School
UKUK
#24 #100 #25 #96 +1 -4
IÉSEG School of Management
FranceFrance
#67 #24 #69 #26 +2 +2
Audencia Business School
FranceFrance
#34 #36 #40 #25 +6 -11
Católica Lisbon School of Business
PortugalPortugal
TBC #25 #30 +5
Peking University HSBC
ChinaChina
#25 #28 +3
University of Mannheim
GermanyGermany
#26 #32 #29 #28 +3 -4
Georgetown University McDonough
USAUSA
#27 #92= NEW NEW
UCD Dublin, Smurfit
IrelandIreland
TBC #27= #46 #33 +6
TUM School of Management
GermanyGermany
#28 #80 #31 #54 +3 -26
King's Business School, KCL
UKUK
#29 #92= NEW NEW
Neoma Business School
FranceFrance
#66 #37 #89 #30 +23 -7
Cranfield School of Management
UKUK
TBC #99 #34 #69 -30
BI Norwegian Business School
NorwayNorway
TBC #81= #38 #88 +7

Note: Rankings shown are the QS Business Master's Rankings: Management 2026 & 2025 and the Financial Times Masters in Management 2026 & 2025. A "—" indicates the school was not ranked, or that data is unavailable for that year; "TBC" marks a program ranked by QS 2026 outside the top 30 whose exact position is still being verified against topuniversities.com. The QS YoY and FT YoY columns compare each ranking's 2026 position against its 2025 position. Click any school to see its QS scores and FT 2026 outcomes.

Methodology Comparison

QS vs Financial Times MiM Rankings

The two rankings measure very different things — which is why the same school can sit 30+ positions apart. Here is what each one actually weighs.

QS
QS Business Master's Rankings: Management
Employer & outcomes data — 234 programs assessed in 2026

Indicator weights (2026)

Employability35%
Value for Money20%
Thought Leadership20%
Alumni Outcomes15%
Class & Faculty Diversity10%

Built largely on employer reputation surveys, alumni outcomes among global executives, and return-on-investment data. Schools do not need to submit alumni surveys to appear.

FT
FT Masters in Management Ranking
Alumni-survey driven — top 100 published, in four tiers

How it's built (2026)

Pay & career outcomes (salary, progress, value)~50%
— Weighted salary (US$, PPP)15%
— Salary increase9%
School diversity (female & international mix)22%
International experience & sustainability23%

19 weighted criteria in total, built on an alumni survey three years after graduation plus school-reported data. Only schools that participate and meet alumni-response thresholds are ranked.

Why the same school ranks differently

Two things drive the gaps: methodology and participation. FT only ranks schools that opt in and meet alumni-survey response thresholds, and scores mostly on alumni outcomes like salary, value for money and mobility. QS requires no participation and leans on employer reputation. A school can therefore dominate one list and barely register — or not appear at all — in the other.

University of St. Gallen
FT#1 · QSnot ranked

Doesn't take part in the QS exercise. Its $150,490 weighted salary is the highest in the FT top 10 — but its value-for-money rank is only 12th.

Imperial College
QS#9 · FT#38

Elite QS employability, but FT alumni rate it 91st of 100 on value for money against an $88,887 weighted salary.

Rabat Business School
FT#10 · QSnot ranked

The FT rewards trajectory and alumni sentiment: Rabat posts the lowest salary in the top 10 ($76,905) but an 81.8% salary jump and top-20 satisfaction.

Year-over-Year 2026 Edition

Biggest Ranking Changes in 2026

Which programs climbed the most, which dropped, and who entered the rankings for the first time — based on QS & FT year-over-year data.

Derived from YoY columns
QS & FT Rankings

Biggest Risers

Paris School of Business
France
FT
+26 positions
University of Sydney Business School
Australia
FT
+26 positions
Neoma Business School
France
QS
+23 positions
Rabat Business School
Morocco
FT
+10 positions
Imperial College Business School
UK
FT
+9 positions

Positions improved most between the 2025 and 2026 editions. A higher positive number indicates a larger jump up the rankings.

QS & FT Rankings

Biggest Declines

Cranfield School of Management
UK
FT
-30 positions
TUM School of Management
Germany
FT
-26 positions
Grenoble Ecole de Management
France
FT
-19 positions
Warwick Business School
UK
FT
-16 positions
ESMT Berlin
Germany
FT
-13 positions

Positions dropped most between the 2025 and 2026 editions. A higher negative number indicates a steeper fall in the rankings.

QS & FT Rankings

New Entrants

Copenhagen Business School
Denmark
New in FT 2026
Erasmus (RSM)
Netherlands
New in FT 2026
Georgetown University McDonough
USA
New in QS 2026
Georgetown University McDonough
USA
New in FT 2026
King's Business School, KCL
UK
New in QS 2026
King's Business School, KCL
UK
New in FT 2026
London School of Economics
UK
New in QS 2026

Schools appearing in QS or FT 2026 for the first time, or returning after a year out — absent from the 2025 edition of the same ranking.

Why Ranking Stability Matters

Schools with consistent positions year over year signal strong, stable program quality — less dependent on survey anomalies. The 2026 FT edition is a reminder of how quickly positions move when alumni sentiment shifts: TUM's weighted salary changed by $51 and it still fell 26 places. For applicants in the selection stage, a program that holds its rank across both QS and FT over multiple years is generally a lower-risk choice than one that fluctuates widely.

Riser Decline NEW
Methodology

How This Ranking Is Calculated

Our combined 1–50 sequence aggregates publicly available data from two authoritative sources. Here is exactly how it works.

QSFT Combined methodology
Step 1

Two Independent Sources

We pull raw rankings from two globally respected, independently published annual surveys:

QSQS Masters in Management 2026
FTFT Masters in Management 2026

No proprietary scoring or weighting is applied. All position values are taken directly from each publisher.

Step 2

Combined Score Calculation

Each school receives a combined position score using the best available rank across both sources:

Score = min(QS 2026, FT 2026, QS 2025, FT 2025)

Schools are sorted ascending by this score — the lower the number, the higher the combined position.

Step 3

Handling Missing Positions

A "—" dash means the school was not included in that source's published list for that year.

  • NEWPresent in 2026 but absent in 2025 — flagged as a new entry.
  • NRPresent in 2025 but absent in 2026 — shown as not ranked in the YoY column.
  • TBCRanked outside the QS 2026 top 30 and awaiting verification against the publisher's table.
Step 4

When Positions Update

This page is refreshed each time QS or FT publishes a new edition of their MiM rankings:

QS
QS 2026 edition
Published September 2025; the 2027 cycle is in data collection
FT
FT 2026 edition
Published 7 September 2026
Last updated: September 2026

Ordering Logic — Step by Step

  1. 1
    Collect all ranked positions
    For each school, gather QS 2026, QS 2025, FT 2026 and FT 2025 positions. Unranked and unverified slots are treated as position 9999 for sorting purposes only.
  2. 2
    Derive combined score
    Take the minimum (best) position across all four data points. This rewards schools that excel in at least one authoritative ranking.
  3. 3
    Sort ascending by score
    Schools are listed from lowest combined score (best) to highest. The "#" column reflects this sequence, not any individual ranking's order.
  4. 4
    Display raw positions alongside
    QS and FT positions are always shown as-published, joint positions included, so readers can verify every number directly against the primary source.

Editorial Independence & Transparency

No proprietary algorithm. Positions are derived solely from published QS and FT data — we add no weighting, no editorial score, and no sponsor influence.

Schools cannot pay for placement. The combined order is a mechanical calculation — any school can improve its position only by improving its standing in the QS or FT surveys.

Multiple sources reduce bias. Relying on two independent surveys — which use different criteria — gives a more balanced picture than either list alone.

Historical data preserved. Prior-year columns (2025) remain visible so year-over-year trends are fully auditable and not quietly revised.

Limitation: scope differs. QS and FT do not rank identical school populations, and the FT's own prior-year column occasionally differs from the list it published a year earlier. Always check both columns.

QS
Primary Source
QS Masters in Management Ranking 2026
Published by Quacquarelli Symonds — scores employability, alumni outcomes, value for money, thought leadership, and class & faculty diversity
View QS Ranking
FT
Primary Source
FT Masters in Management Ranking 2026
Published by the Financial Times on 7 September 2026 — built on alumni surveys three years after graduation: weighted salary, career progress, international mobility and ESG teaching
View FT Ranking
FAQ

Frequently Asked Questions

Common questions about our MiM rankings methodology, data sources, and how to interpret the results.

Both QS and the Financial Times publish a new Masters in Management edition once a year, typically in September. The FT released its 2026 edition on 7 September 2026; the QS Business Master's Rankings 2026 appeared in September 2025, and the 2027 QS cycle is still collecting data. This page is refreshed whenever either publisher releases a new edition, and prior-year columns stay visible so you can track movement.

Because the two publishers measure different things. QS leans on employability (35%), value for money and thought leadership, drawing on employer surveys and alumni outcomes. FT is built mainly on alumni surveys three years after graduation — salary, career progress and international mobility. Imperial College, for example, is #9 in QS 2026 but #38 in FT 2026.

When two or more schools receive the same overall score, the publisher assigns them the same (joint) position and skips the next one. In FT 2026, ESCP and Vlerick are both ranked #6, so no school holds #7 — and three schools share #13.

In the FT 2026 ranking, Paris School of Business and the University of Sydney each climbed 26 places, Rabat Business School rose ten places to become the first African program in an FT MiM top 10, and Vlerick and IESE each gained eight places. Cranfield (-30), TUM (-26) and Grenoble Ecole de Management (-19) fell furthest. Tsinghua and Tongji, both in last year's FT top 10, do not appear in the 2026 list at all.

Yes. Rankings average a fixed set of criteria, so a program can rank modestly overall yet be the strongest option for your budget, target country, specialization or recruiting pipeline. Check the underlying indicators — salary, aims achieved, value for money, alumni network — rather than the headline position alone.

Very. MiM cohorts are among the most international in business education, and both rankings measure this directly: FT tracks international students, faculty and post-graduation work mobility, while QS scores class and faculty diversity. If studying abroad is the goal, these indicators matter as much as the overall rank.

Total cost against expected salary, curriculum and available specializations, location and post-study work rights, class profile and cohort size, alumni network strength in your target industry, and the school’s own employment report.

Go one level deeper. Compare each school’s position in both QS and FT rather than a single list, look at the underlying metrics — weighted salary, aims achieved, value for money, alumni network strength — and check how stable the school’s position has been year over year.

Use rankings to build a shortlist of six to ten schools, then filter by hard constraints: budget, geography, language and intake dates. Verify outcomes in each school’s employment report, and decide between finalists by talking to current students and alumni or attending admissions events.

Compare

Side-by-Side Comparison

Best value per row is highlighted. QS scores are 0–100; FT salary in PPP-adjusted US$.