FT’s Online MBA ranking 2025: Which business school is most worth its tuition?

IE Business School in Madrid has secured the top position in the Financial Times' Online MBA ranking for 2025, maintaining its lead for the third consecutive year. The ranking highlights the growing appeal of online MBA programs, which are increasingly competing with traditional campus-based courses in terms of academic rigour and career outcomes.

The Financial Times’ ranking is based on surveys from schools and alumni who completed their online MBAs in 2021. The methodology considers 20 criteria, with alumni responses contributing 60% of the total weight. The top 15 schools were selected from 22 participating institutions.

Online MBA programs continue to attract a wide age range of students, from 20 to 50 years old, compared to full-time or executive MBA programs, which typically cater to professionals in their late 20s and 30s. Career advancement remains a key motivation for enrolling, with a significant increase in alumni holding senior management positions post-MBA.

Toppers in 2025

IE Business School ranked highest for international mobility, with alumni seeing an average salary increase of 45% three years post-graduation, reaching $209,202. The school also performed well in sustainability-related education, particularly in ESG and net-zero teaching.

London’s Imperial College Business School retained its second place, with alumni reporting a 33% salary rise to an average of $228,443. The school ranked highly for international faculty and diversity, which alumni cited as valuable for leadership development.

Warwick Business School secured third place, maintaining its second position in career progress while improving its ranking in program delivery. The University of Southern California’s Marshall School of Business ranked fourth, offering the highest alumni salaries at $228,500 and strong research output.

Top 15 online MBA programs 2025 (FT Ranking)

Rank	Business School	Country	Alumni Salary (USD)	Tuition Fees
1	IE Business School	Spain	209,202	€56,000
2	Imperial College Business School	UK	228,443	£50,500
3	Warwick Business School	UK	216,898	£40,733
4	University of Southern California: Marshall	US	228,500	$129,716
5	Carnegie Mellon: Tepper	US	191,841	$149,028
6	University of North Carolina: Kenan-Flagler	US	211,372	$125,589
7	University of Florida: Warrington	US	145,606	$56,065
8	University of Porto – FEP| PBS	Portugal	158,128	€14,672
9	Durham University Business School	UK	170,495	£31,193
10	AGSM at UNSW Business School	Australia	178,466	A$64,080
11	Polimi School of Management	Italy	160,904	€40,000
12	University of Bradford School of Management	UK	157,774	£19,846
13	University of Nebraska-Lincoln	US	164,308	$33,600
14	Birmingham Business School	UK	136,594	£25,267
15	Washington State University: Carson	US	157,090	$35,460

Value for money and emerging trends

The ranking also acknowledged the University of Bradford School of Management for offering the best value for money. The metric considers tuition fees, scholarships, and salary progression post-graduation.

A notable new entrant, the University of Porto – FEP | PBS, ranked eighth and led in online student interaction and faculty availability. Meanwhile, Australia’s AGSM at UNSW Business School remained the leader in the carbon footprint category, based on emissions reporting and net-zero targets.

Gender pay gap and industry preferences

The gender pay gap among online MBA graduates has narrowed to 8%, down from 25% in 2024. However, this shift is partly due to a decline in average male salaries rather than a substantial rise in female earnings.

Technology remains the most common industry for online MBA graduates, with a relatively lower presence in consulting and financial services compared to traditional MBA alumni. Despite being a part-time course, most students complete their degrees within two years, with a small percentage finishing within a year.