Best Business Schools In The World | Economist MBA Ranking
62 of the world’s best business schools—including Harvard, Stanford, and Wharton—are missing from the Economist MBA Ranking 2021. So which business schools have taken their place?
You should never take one MBA rankings table as fact. But when 62 of the world's best business schools, including Harvard, Wharton, and Stanford, don’t participate—as is the case for the Economist MBA Ranking 2021—you need to question its continued relevance.
The elite group of M7 business schools snubbed the Economist’s full-time MBA ranking this year as COVID-19 exacerbated a longer-term rankings fatigue felt by many schools. And it’s not just renowned US schools that are missing.
49 of the best business schools in the world were either ineligible or declined to participate this year, and a further 13 decided against surveying their students and alumni.
The absence of some of the biggest names in business education from this year’s Economist MBA ranking was good news for Europe though. IESE Business School topped the list of the world’s best full-time MBA programs in a top 10 split 50-50 between Europe and the US.
Economist MBA ranking: The world’s best business schools?
So IESE Business School in Spain offers the best full-time MBA program in the world according to the Economist. But how do they get there?
The broad areas on which programs are assessed are the creation of new career opportunities, personal development opportunities and educational experience, salary enhancement, and networking potential.
Each year the Economist surveys thousands of MBA students about why they decided to enrol on a full-time MBA program. The answers from current MBA students and a school’s most recent graduating MBA class make up 20% of the final tally. Students rate their school on things like faculty quality, facilities, and career services.
IESE climbed nine places to reach top spot this year, leading the pack with HEC Paris in second place.
Europe is represented further in the top 10 by SDA Bocconi School of Management in sixth, EDHEC Business School in seventh, and Switzerland’s IMD International Institute for Management Development in 10th. EDHEC and IMD climbed a whopping 25 places this year.
With big schools sitting this year out space was made for new US entrants into the top 10. Of the American schools represented, only the University of Michigan’s Ross School of Business was in the top 10 last time around. The school is ranked third this year, climbing six places.
The rest of the top 10 sees NYU Stern School of Business climb 13 places to fourth; Georgia Institute of Technology’s Scheller College of Business climb a huge 18 places to fifth; University of Washington’s Foster School of Business climb 12 places to eighth; and Carnegie Mellon University’s Tepper School of Business rise 22 places to ninth.
In a ranking that has thrown up a lot of surprises there are huge rises for some schools this year. France’s ESSEC Business School has risen 45 places to 52nd place. North Carolina State University’s Poole College of Management has climbed 57 places to 36th.