As the birthplace of the Master in Management, it comes as no surprise that the recently released QS Master in Management ranking appears to be Eurocentric, with European schools taking a majority of the spots in the top 10.
However, the degree is growing in importance and recognition in the US as increasing numbers of schools launch their own MiM degrees and international students flock to reap the benefits of studying in the US. In the 2025 ranking, seven US business schools have squeezed their way into the top 20.
So, which school takes the title of the best Master in Management program in 2025? Here's a breakdown of the QS list.
Top 10 Best Master in Management Programs
As in the Financial Times Master in Management ranking 2024, announced earlier this year, HEC Paris has been crowned in first place by QS. The prestigious French business school has an almost perfect record across the ranking. It is ranked first for employability—which accounts for 40% of the total score—entrepreneurship and alumni outcomes (15%, respectively), and return on investment (20%).
Master in Management programs in the ranking are also scored for diversity. The highest-scoring schools include ICN Business School, NEOMA Business School, and SKEMA Business School—all based in France.
Other French business schools in the top 10 include ESSEC Business School in third place, INSEAD taking the sixth spot, ESCP Business School in eighth, and CEMS in 10th. Each of these respective schools rank highly across the evaluated categories. ESSEC joins HEC Paris as the top-ranked MiM degree for return on investment. INSEAD ranks in seventh place for thought leadership and eighth for employability.
Making up the cohort of European business schools in the top 10 are London Business School in fourth place and Spain’s IE Business School in ninth place. Both Copenhagen and ESADE have dropped out of the top 10 this year, now ranking 14th and 16th, respectively.
10 Best Master In Management Programs (QS)
Best Master in Management Programs | Beyond Europe
While European business schools dominate the top 10, three US schools—Stanford Graduate School of Business (second), MIT Sloan (fifth), and Yale School of Management (seventh)—have entered the ranking for the first time and immediately secured spots in the top 10.
Breaking into the top 20 is Northwestern Kellogg, tying with IESE Business School for 11th place. Meanwhile, Michigan Ross is in 23rd place and Duke Fuqua ranks at 26th, down six spots from last year. The only other US business school among the top 50 is Boston (Questrom) in 43rd place.
There are two Canadian business schools among the top 50—British Columbia Sauder ranking 38th and Ivey Business School in 49th.
Across the globe in Asia, Peking University HSBC Business School ranks in 28th position—dropping seven places from the previous year—and HKUST in Hong Kong comes in at 41st.
IIM Bangalore, IIM Calcutta, and IIM Ahmedabad are the only three Indian business schools among the top 100. Significantly, IIM Ahmedabad has dropped from 42nd position to 56th. Interestingly, in the 2024 Financial Times MiM Ranking, Indian business schools secured 14 places within the top 100.
The QS Business Master’s Rankings include programs that are mainly taught in-person and full-time. All schools must be accredited by AACSB, AMBA, or EFMD. The rankings are decided based on three surveys: the QS Global Employer Survey, the QS Global Academic Survey, and a survey completed by business schools themselves.
