St Gallen tops FT Masters in Management ranking; IIM Ahmedabad leads Indian schools

The University of St Gallen has retained the top position in the Financial Times’ 2026 Masters in Management ranking. IIM Ahmedabad was the highest-ranked Indian institution, placing joint 27th overall with an average weighted salary of $199,706 three years after graduation.

St Gallen’s MA in Strategy and International Management secured the top spot for the third consecutive year and the 15th time overall. Nova School of Business and Economics in Portugal ranked second, while Shanghai Jiao Tong University’s Antai College of Economics and Management was placed third.

The top eight also included Insead, HEC Paris, ESCP Business School, Vlerick Business School and Iese Business School.

FT Masters in Management Ranking 2026: Top 10

Rank	Business school	Location
1	University of St Gallen	Switzerland
2	Nova School of Business and Economics	Portugal
3	Shanghai Jiao Tong University: Antai	China
4	Insead	France
5	HEC Paris	France
6	ESCP Business School	France
6	Vlerick Business School	Belgium
8	Iese Business School	Spain
9	Stockholm School of Economics	Sweden
10	Rabat Business School — International University of Rabat	Morocco

The FT ranking assessed 100 English-language Masters in Management programmes worldwide. It considered factors such as graduate salaries, value for money, career progression and alumni feedback. Participation was voluntary, and institutions needed accreditation from either AACSB or EFMD.

The degree, usually pursued soon after a first degree, has gained popularity as graduates face a tougher job market because of economic uncertainty and artificial intelligence-driven changes at work.

Business schools are responding by adding AI-related training, offering more work experience and focusing on interpersonal skills. Applications for MiM programmes rose 7% globally in 2025-26, according to a survey by the Graduate Management Admission Council.

Demand has also increased in Asia, where some students are choosing to study closer to home amid tighter immigration and post-study work rules in Europe, the US and Australia.

Graduates from seven Indian programmes reported the highest weighted salaries after adjusting for purchasing power parity. IIM Ahmedabad led the group with an average salary of $199,706. St Gallen graduates reported the next-highest figure at $150,490.

Across the ranked programmes, half of the graduates who reported their employment status three years after graduation worked in financial services, insurance, banking or consulting. Nearly 10% worked in technology, while others joined sectors such as sales and manufacturing.

MiM graduates reported an average salary of nearly $98,000, although this remained below the average for graduates of ranked Masters in Finance programmes.

The Paris School of Business recorded the highest share of alumni who said they achieved their study objectives, at 94%. Nova and Rabat Business School followed.

Vlerick ranked first for alumni network quality, followed by St Gallen and Germany’s WHU — Otto Beisheim School of Management.

St Gallen dean Björn Ambos said: “The critical value-add of a professor today is as a moderator, orchestrator and choreographer who creates content and leads discussion, forcing students to engage in critical thinking and make decisions at a time of uncertainty with incomplete information.”

ESCP had the highest share of international students, at 98% across its six European campuses. The 14 Indian schools in the ranking reported the lowest proportions, ranging from zero to 2%.

Nine schools reported gender parity among faculty, while 10 had more women than men. Among students, 16 schools reported gender parity and 30 had more women than men.