European business schools continue to dominate the master of management market, according to new rankings, but schools in the UK and Belgium have dropped significantly.
However seven of the 11 top-ranked British schools, and three out of four of the Belgian schools, have fallen by seven places or more.
London Business School was one of the few to buck to trend, securing a position in the top-ten and becoming the highest-ranked UK school upon entering the ranking for the first time this year.
The 2014 Financial Times Masters in Management (MiM) rankings scores the top 70 general management degrees for pre-experience candidates with little or no work experience.
A record 81 schools participated in the ranking process this year, reflecting the increased demand for such pre-experience management programs.
The ranking is based on data compiled from participating business schools, as well as from alumni from the class of 2011, based on how successful alumni have been in their careers since graduation in terms of salary data.
Three years after graduation, the average annual salary of St Gallen’s alumni is almost $80,000. The average age of the class is 28. The Swiss degree also scores highly on individual indicators and is considered the best value for money of all the programs ranked.
The rankings are dominated by European-based schools – only six of the top-70 are from outside the region.
The two biggest climbers this year are ESC Rennes of France and Ireland’s Michael Smurfit Graduate Business School .
In addition to LBS, there are four new entrants to the MiM ranking including Canada’s Sauder School of Business and EBS Business School of Germany, which claimed the 49th and 14th spots respectively.
However, there are signs that other regions are warming to the pre-experience degree. MiM programs have become more popular in the United States since the global financial crisis of 2008. Several schools which have highly-ranked MBA programs have rolled out pre-experience master’s degrees. But none of them are yet featured in the FT’s ranking, apart from Skema Business School which counts France, China and the US as its base locations.
Indian business schools have also adopted the MiM, as businesses hope that newly-elected Prime Minister Narendra Modi will usher in a new period of economic growth, and expand hiring.
The MBA has long been a virtual prerequisite for business careers in India, but a MiM offers graduates something to distinguish themselves in a crowded market.
The Indian Institute of Management, Calcutta and its sister school IIM Ahmedabad – which has the highest weighted salaries – are ranked 13th and 16th place respectively in the MiM rankings.
Internships are one of the most valuable components of these degrees. The courses are designed to fast-track careers. According to the FT survey, 72% of respondents completed an internship and 64% received a job offer as a result, with just over 50% accepting those offers.
Internships are most popular in countries where the MiM is taught over two years or more. The degrees differ in length depending on location. Most programs in Canada, Ireland or the UK are just one year in length, while students in Belgium, France and India generally complete two-year programs.
Just 14% of graduates from 2011’s class started their own companies, most with ten or fewer employees. FT data show that about 80% of those start-ups are still operational, but they only provide a primary source of income to 44% of their founders.
To see the full ranking table, visit: http://rankings.ft.com/businessschoolrankings/masters-in-management-2014