2014 / 2015 - · PDF fileQS Global 200 Business Schools Report 2014 / 2015 Louis Lavelle, MA...

QS Global 200 Business Schools Report

2014 / 2015

Louis Lavelle, MA New York University, BA Montclair State University

Daniel Kahn, BSc, BA (Hons) Salford University

Unlocking the world’s top 200 business schools

GLOBAL

200

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Introduction 3

1.0 Fast Facts 4

2.0 Regional MBA Rankings 6

3.0 Employer Survey Sample 10

4.0 Academic Survey Sample 14

5.0 Top business schools by region: North America 17

6.0 Top business schools by region: Europe 21

7.0 Top business schools by region: Asia-Pacific 25

8.0 Top business schools by region: Latin America 28

9.0 Top business schools by region: Middle East & Africa 30

Contents

2 2014/15 QS Global 200 Business Schools Report

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About the Contributors

Editor: Nunzio Quacquarelli is founder and managing director of QS Quacquarelli Symonds Ltd, publishers of TopMBA.com and organizers of QS World MBA Tour. He has an MA from the University of Cambridge and an MBA from the Wharton School. He lives and works in London.

Editor: Louis Lavelle is the editor-in-chief of TopMBA.com. His 35-year career in journalism includes eight years as the business schools editor at Bloomberg Businessweek, where he co-led the team that won two National Magazine Awards. He is also the author of The Best B-Schools (McGraw-Hill Professional, 2008). Lavelle has an MA from New York University and a BA from Montclair State University. He lives and works in New York City.

Analyst: Daniel Kahn is a researcher with QS Quacquarelli Symonds Ltd, and heads up the data collection team for the QS Global 200 Business Schools Report. He has travelled extensively to attend QS admissions events giving him broad knowledge of the MBA world. Before joining QS he worked for the telecommunications company, Alcatel. He lives and works in Paris.

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The QS Global 200 Business Schools Report originated in the early 1990s as an alternative to business school rankings. At the heart of the report was a definitive list of 200 business schools from which employers prefer to recruit MBAs. The research was intended to be of use to MBA employers, prospective MBA students and institutions worldwide that are interested in international business education and recruitment trends.

All that is still true. But for the first time this year QS is introducing a number of changes that will transform the Global 200 Business Schools Report. The report is compiled from an annual survey of human resources managers at companies around the world that actively recruit MBA graduates. With the 2014/15 report, the research now includes a second measure: academic reputation. Based on a global survey of top faculty with expertise in business and management, the new measure identifies those business schools with the best worldwide reputation for cutting-edge research, an expertise that informs teaching, curricula, and many other aspects of those programs.

At the same time, we’re changing the way we present the data. In the past, we published separate regional rankings for four categories of business schools: elite global, emerging global, elite regional, and emerging regional. Our new report eliminates the four categories in favor of a single ranking for each region covered: North America (the US & Canada), Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Rankings in 10 MBA specializations, from strategy to corporate social responsibility will be published at a later date. We have also eliminated school-by-school placement, salary, and bonus data, which is not part of our ranking methodology. That data will be presented in a new report on the MBA’s return on investment, to be published separately.

The changes are based on the growing realization that the value proposition of the MBA is changing. It is no longer viewed as merely a passport to high-paying job. For many students, it is also a way to create value in other ways – whether that means working with a nonprofit or starting a business. Those goals require academic skills far beyond the ones that prepared generations of MBAs for careers in finance and consulting, and they demand a new kind of ranking. This report is just such a ranking.

Introduction

QS Global 200 Business Schools Report 2014/15

Fast Facts

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• Worldwide: Six schools received the maximum score for employer recognition, identifying them as the leading schools in their region, including two new US additions to this club: the University of Pennsylvania’s Wharton School and Northwestern University’s Kellogg School of Management. Four schools received the maximum score for academic reputation: Harvard Business School, Stanford Graduate School of Business, the Wharton School and MIT’s Sloan School of Management. Three schools – Harvard, Stanford, and Wharton – received the maximum score for both.

• North America: The triumvirate that dominates the top tier of US business schools once again occupies the top of the North American list this year, with Harvard, Stanford and Wharton in an unprecedented three-way tie for the No. 1 spot. The change in the ranking methodology resulted in big shifts among well-known schools. In the top 10, New York University’s Stern School of Business moved up 11 spots to No. 10. Elsewhere, the McCombs School of Business at the University of Texas, Austin, gained 10 spots, the Marshall School of Business at the University of Southern California advanced 18 spots and the Paul Merage School of Business at the University of California, Irvine rose by 19.

• Europe: After more than a decade at the top, INSEAD surrenders the No. 1 spot in Europe to London Business School in what amounts to a rankings dead heat, with LBS nudging out its rival by the narrowest of margins. Saïd Business School at Oxford University joins the top three, HEC Paris and SDA Bocconi join the top five, and the University of Strathclyde Business School, Cass Business School, Business School Lausanne, and Grenoble Graduate School of Business all gained 20 spots or more.

• Asia-Pacific: INSEAD’s Singapore program retains its grip on the Asia-Pacific title thanks to a reputation among international MBA employers that exceeds that of all other business schools in the region several times over and an academic reputation among the very best in the world. Singapore retains its hold on the top of the list, while two Hong Kong schools have come out of nowhere to establish a formidable foothold in the top five. India has lost three of its four top 10 spots, including those held by prestigious IIMs in Bangalore and Calcutta as well as the Indian School of Business.

• Latin America: EGADE-Tecnológico de Monterrey, Campus Monterrey, Latin America’s top school for both employer recognition and academic reputation, once again retains the No. 1 spot, followed by Pontificia Universidad Católica de Chile, which held on to No. 2. Two schools, unranked last year, joined the group: Universidad Adolfo Ibáñez at No. 5 and Universidad Diego Portales at No. 9. Universidad de Chile was the big gainer, advancing three spots to No. 3, followed by INCAE Business School, which moved up two spots to No. 6, and Instituto Tecnológico Autónomo de México (ITAM), which moved up one spot to No. 4.

• Middle East & Africa: A new entry to the Global 200, the College of Industrial Management at King Fahd University, took the No. 1 spot from the Graduate School of Business at the University of Cape Town, which fell to No. 3. The American University in Cairo rose two spots to No. 2, while the Suliman S. Olayan School of Business at the American University of Beirut rose one spot to No. 4.


Regional MBA Rankings

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Management education is globalizing. The past decade has seen an increase of accredited business schools open in emerging markets such as in the BRICs (Brazil, Russia, India, and China). While business schools in the US and Europe remain the most popular study destinations among MBA students, schools elsewhere in the world such as those in Asia are growing in popularity. The proliferation of accredited programs around the globe has led to a wider choice for MBA applicants over the past few years. Recent trends indicate that there is greater onus on choosing the right country as well as the right business school. According to the QS TopMBA.com Applicant Survey 2014, over 50% of MBA students are choosing schools based on the country in which they wish to work.

Furthermore, international MBA recruiting is no longer the domain of a few prestigious US and European companies. A growing number of HR managers in the Asia-Pacific region, Latin America, and the Middle East are informed about MBA education, widening the sample available for the QS Global Employer Survey.

As a consequence of these shifts, regional MBA trends are of increasing importance. In order to provide data to help students and recruiters best choose which schools to apply to and recruit from, QS has categorized its business school ratings by region.

Methodology

Since the beginning, the objective of the QS Global 200 Business Schools Report has been to provide an indication of the employability of an MBA upon graduation. Unlike traditional business school rankings, which measure programs on multiple criteria, QS for many years published a rating that provides a reliable measure of one thing only: the employability of MBA graduates.

For the 2014/15 report, QS has adopted a new methodology. The employability measure, based on our global survey of MBA employers, will now count for 85% of the final ranking. A second measure – academic reputation – based on a global faculty survey, will contribute 15% to the final ranking.

Employer Survey

The QS Global 200 Business Schools Report survey (hereafter referred to as the ‘survey’) captures the preferred set of business schools each responding employer wishes to recruit from; either now, in the recent past or in the near future.

QS asks international employers to select the schools from which they consider hiring MBA graduates. Employers that focus on domestic hiring are not included in the survey. However, QS recognizes that many excellent schools that cater predominantly to the local recruitment market may not appear in the tables.

We include only business schools offering full-time MBA programs and as such well-known business schools like ESCP Europe and HEC Lausanne (which only offer executive MBA, part-time MBA and/or masters programs) are excluded.


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In order to produce the QS Global 200 Business Schools Report, QS focuses on experienced HR and line managers at organizations that actively recruit MBAs. Respondents from each company are asked a series of questions about MBA recruiting in the previous and the forthcoming year.

Employer responses to these questions provide information on the following:

• MBA recruitment trends

• MBA salaries and compensation trends

• Global business school ratings by region

• Global business school ratings by specialization

Each employer is asked to list, unprompted, the international schools from which they have recently attempted to recruit MBAs. Each time a school is selected by an employer, it receives one vote and the total number of votes for each school is referred to as the ‘total unprompted votes.’

From a list of 500 business schools that have been categorized by region, employers are then asked to identify the schools they regard as attractive for the purpose of hiring MBA graduates. In order to be included on the list, a school must have been recommended by an employer in the previous year of the research. Each time a school is selected, it is given one vote, and the total for each school is referred to as the ‘total prompted votes.’

The prompted and unprompted votes are added together to create the ‘total employer votes.’ In order to ensure balanced results that are not subject to influence from the economic cycle, an average of the ‘total employer votes’ is taken from the current year’s research and the two previous surveys.

The best performing school(s) are given an index score of 100 and the average total employer votes for the remaining schools are indexed against the best performing school(s). This score is known as the school’s ‘index of employer votes.’

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Academic Reputation

Separate from the employer survey, the QS Intelligence Unit surveys academics from all over the world each year, a survey that forms the centerpiece of the QS World University Rankings. In 2014, 63,676 faculty and other academics responded to the survey.

Respondents are first asked to identify their areas of expertise – countries, regions, and up to five faculty areas with which they are most familiar. For each of the five faculty areas, they are then asked to list up to 10 domestic and 30 international institutions that they consider excellent for research in that area. They are not permitted to choose their own institutions. For the QS Global 200 Business Schools Report, only responses related to business and management were used.

To increase the size of the sample, responses from one year are combined with those from two previous years, and duplicate responses from the same individuals over the three-year period are removed. In 2014, QS received 3,128 usable responses. Combining the 2014 responses with those from two previous years gave us a total of 7,187 responses.

As with the employer survey, the best performing school(s) in the academic survey are given an index score of 100 and the remaining schools are indexed against the best performing school(s).

Final Ranking

To assemble the final ranking, we assign a weight of 85% to the employer survey results and of 15% to the academic reputation results. This combined score determines the relative position of each school on each table.

This research does not intend to infer an overall global ranking of schools. Instead, the schools in five global regions are ranked separately. Breakdowns for elite global, emerging global, elite regional, and emerging regional business schools that appeared in previous reports are no longer provided.

The combined or overall scores listed in the ranking tables are rounded to one decimal point. Schools with the same overall score might have a different rank because of this rounding.


Employer Survey Sample

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Employer Survey Sample

The survey was conducted over six months and represents one of the largest exercises QS has undertaken in terms of geographic scope and level of detail.

The total of 28,759 employers responded to the QS Global Employer Survey between 2012 and 2014, including 5,669 who were actively recruiting MBAs. All employers who responded to the survey are guaranteed confidentiality for the components of their individual responses, except for any open-ended feedback they have chosen to provide on the value of an MBA or concerns with MBA hires.

The following table gives a snapshot of some of the organizations that took part in the survey across the world.

Source: QS Global 200 Business Schools Report 2014/2015 (TopMBA.com)

Asia Europe US & Canada Latin America

Consulting Beijing Consulting Group AT Kearney Booz Allen Hamilton Accenture

Grant Thornton LLP Bain & Company Deloitte Deloitte

Ernst & Young BCG Ernst & Young KPMG

IBM PwC Towers Watson PwC

Finance Commonwealth Bank AXA American Express Banco Santander

Citibank Bloomberg BlackRock Bancolombia

Nomura BNP Paribas Citibank BBVA Continental

OCBC Bank Deutsche Bank ING HSBC

Industry Air Liquide Abbott 3M Colgate Palmolive

Alstom Alstom Best Buy Daimler

Baxter Bayer ConAgra Foods Exxon

Bombardier Boehringer DHL Merk

Technology Hitachi Alcatel-Lucent Brightstar Corporation Hewlett-Packard

Microsoft Google Apple Atos

LG Electronics Avaya Oracle BlackBerry

Tata Microsoft Microsoft MercadoLibre


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Industry Distribution of Employers

The chart below shows the spread of employers across 20 industries. This reflects the global spread of industries that hire MBAs. The consulting and financial services sectors are the largest respondents in 2014, reflecting traditional MBA hiring patterns. HR/recruitment services, manufacturing, IT, consumer goods and energy are also well represented in the sample.



0 200 400 600 800 1000

Aerospace / Defence

Construction / Property

"Consulting / Professional Services

Electronics / High Technology

Energy

Consumer Goods

Financial Services / Banking

IT / Computer Services

Manufacturing / Engineering

Media / Entertainment & Arts

Metals / Mining

&Pharmaceuticals / Biotech & Healthcare

"Public Sector / Govt. / Non-profit

Recruitment / HR services

Retail

Telecoms

Transportation / Distribution

Travel / Leisure / Hospitality

Utilities

Other

Education

Responses by industry

Law

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Geographical distribution of employers

Responses were received from employers across the globe, with 19% of employer respondents based in Western Europe, 14% in North America, 30% in Asia-Pacific, 6% in Eastern Europe, 13% in Middle East and Africa, 18% (of which the majority were hiring locally) in Latin America. Among respondents in Asia-Pacific, 12% were employers in Australia and New Zealand. This breadth of response provides detailed insights into MBA recruiting patterns across the globe.


13%

30%

6% 18%

14%

19% Africa & Middle East

Asia Pacific

Eastern Europe

La?n America

US & Canada

Western Europe


Academic Survey Sample

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Academic Survey Sample

The following tables and charts provide a description of the individuals who took part in our academic survey. In 2014, nearly two-thirds were faculty – professors, associate or assistant professors, senior lecturers and lecturers – while nearly a third were administrators. Nearly three-quarters have more than 10 years of academic experience. The respondents come from all over the world, with Europe, Latin America and North America accounting for more than 70% of the sample.

Academic Survey Respondents by Job Title 2014

0 200 400 600 800 1000 1200 1400 1600

Administrator / Func6onal

Admissions Officer

Assistant Professor

Head of Department

Lecturer

Librarian / Library Assistant

Other

President / Vice-‐Chancellor

Professor / Associate Professor

Research Assistant

Research Specialist

Senior Administrator

Senior Lecturer

Teaching Assistant

Vice-‐President / Deputy Vice-‐

Total

Total


Regional Breakdown of Academic Survey Respondents 2014

0

100

200

300

400

500

600

700

800

Africa Australasia Caribbean Central Asia

East Asia Eastern Europe

La=n America

Middle East

North America

Northern Europe

South Asia Southeast Asia

Southern Europe

Western Europe

NA

Total

Total



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Academic Survey Respondents by Years in Academia 2014

0

200

400

600

800

1000

1200

0-‐10 11-‐20 21-‐30 31-‐40 41-‐50 51+

Total

Total


Top business schools by region: North America


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2014 Rank

2013 Rank Institution Country Employer

ScoreAcademic

ScoreOverall Score

Avg GMAT Score

Avg Years Work % Intern’l

1= 1 Harvard Business School United States 100.0 100.0 100.0 730 4 41

1= 2 Graduate School of Business, Stanford University United States 100.0 100.0 100.0 732 4 35

1= 3 The Wharton School, University of Pennsylvania United States 100.0 100.0 100.0 725 5 36

4 4 The University of Chicago Booth School of Business United States 99.9 99.6 99.9 723 5 40

5 6 Columbia Business School, Columbia University United States 99.8 99.2 99.7 716 5 41

6 5 The Kellogg School of Management, Northwestern University United States 100.0 97.8 99.7 715 7 36

7 9 Sloan School of Management, Massachusetts Institute of Technology (MIT) United States 99.4 100.0 99.5 713 5 30

8 12 Ross School of Business, University of Michigan United States 97.1 95.9 96.9 701 5 32

9 7 UCLA Anderson School of Management United States 96.6 97.9 96.8 707 5 39

10 21 Stern School of Business, New York University (NYU) United States 93.8 97.3 94.3 721 5 32

11 17 Yale School of Management, Yale University United States 92.6 95.9 93.1 714 4 37

12 11 Haas School of Business, UC Berkeley United States 90.5 99.8 91.9 714 5 41

13 10 The Fuqua School of Business, Duke University United States 91.2 88.7 90.8 634 6 49

14 8 Joseph L. Rotman School of Management, University of Toronto Canada 90.5 86.3 89.9 674 4 26

15 14 Richard Ivey School of Business, The University of Western Ontario Canada 81.5 56.4 77.7 662 5 58

16 19 Sauder School of Business, University of British Columbia Canada 68.7 85.1 71.2 658 5 55

17 15 Desautels Faculty of Management at McGill University Canada 69.1 80.4 70.8 690 5 19

18 20 Thunderbird School of Global Management United States 75.8 21.2 67.6 601 4 58

19 29 McCombs School of Business, University of Texas at Austin United States 60.9 88.8 65.1 690 5 39

20 24 Boston University School of Management United States 60.0 47.9 58.2 620 5 36

21 25 Kelley School of Business, Indiana University United States 58.1 51.8 57.2 664 5 66

22 16 HEC Montreal Canada 55.7 58.3 56.1 625 7 26

23 42 Marshall School of Business, University of Southern California United States 53.2 51.1 52.9 690 5 31

24 27 Tuck School of Business at Dartmouth United States 51.7 52.1 51.8 718 5 28

25 31 S.C. Johnson Graduate School of Management, Cornell University United States 43.9 78.9 49.2 700 5 44

26 34 Illinois MBA Program, University of Illinois Urbana-Champaign United States 43.4 69.4 47.3 661 4 51

27 23 Kenan-Flagler Business School, University of North Carolina United States 44.4 60.5 46.8 690 5 32

28 13 Schulich School of Business, York University Canada 51.2 20.7 46.6 663 6 28

29 26 Tepper School of Business, Carnegie Mellon University United States 40.1 79.0 45.9 691 5 34

30 33 McDonough School of Business, Georgetown University United States 45.0 40.4 44.3 688 5 45

31 18 Queen’s School of Business Canada 44.4 41.8 44.0 665 5 60

32 22 Alberta MBA Programs, University of Alberta Canada 42.8 46.3 43.3 648 5 40

33 51 The Paul Merage School of Business, University of California, Irvine United States 46.5 18.2 42.3 660 6 30

34 38 The Carroll School of Management, Boston College United States 40.1 35.1 39.4 593 4 26

35 30 Full-Time MBA Program, Mays Business School, Texas A&M University United States 38.0 45.5 39.1 648 5 39

36 54 Graduate School of Management, University of California, Davis United States 42.3 21.1 39.1 690 5 37

37 28 University of Virginia Darden School of Business United States 37.4 40.8 37.9 706 5 35

38 71 The Eli Broad Graduate School of Management, Michigan State University United States 27.4 58.7 32.1 660 4 37

39 36 Goizueta Business School, Emory University United States 34.7 14.9 31.7 675 5 36

40 61 Rady School of Management, University of California, San Diego United States 29.7 32.9 30.2 613 5 28

41 48 University of Massachusetts Boston MBA Program United States 32.4 9.8 29.0 580 5 29

42 60 Max M. Fisher College of Business, The Ohio State University United States 23.5 59.0 28.8 666 5 47

43 35 Georgia Tech College of Management United States 21.9 64.7 28.3 678 5 39

44 53 Darla Moore School of Business, University of South Carolina United States 30.2 13.0 27.6 664 4 38

45 83 Naveen Jindal School of Management, The University of Texas at Dallas United States 25.2 33.1 26.4 672 6 61

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2014 Rank


ScoreAcademic

ScoreOverall Score

Avg GMAT Score


46 39 Babson College United States 22.4 47.1 26.1 610 5 38

47 83 Olin Business School, Washington University in St. Louis United States 25.2 25.2 25.2 696 5 25

48 63 Telfer School of Management, University of Ottawa Canada 25.8 12.1 23.8 627 3 70

49 87 Carlson School of Management, University of Minnesota United States 17.4 57.2 23.4 690 4 26

50 81 DeGroote School of Business, McMaster University Canada 23.0 21.0 22.7 630 3 30

51 56 The Fox School of Business, Temple University United States 24.6 8.9 22.3 640 5 14

52 58 Madison Wisconsin School of Business, University of Wisconsin United States 17.4 45.4 21.6 676 5 30

53 59 Jesse H. Jones Graduate School of Business, Rice University United States 21.3 18.5 20.9 682 5 50

54 85 Krannert School of Management, Purdue University United States 14.7 53.5 20.5 627 4 36

55 65 W. P. Carey School of Business, Arizona State University United States 13.6 47.8 18.7 637 5 34

56 77 Smeal College of Business, Penn State University United States 11.4 59.5 18.6 645 4 31

57 69 Robert H. Smith School of Business, University of Maryland United States 10.4 62.9 18.3 656 5 49

58 41 Graduate School of Business, Florida International University United States 18.5 15.2 18.0 567 4 42

59 43 Weatherhead School of Management, Case Western Reserve University United States 16.9 22.7 17.8 631 4 26

60 45 Edwards MBA, University of Saskatchewan Canada 19.6 6.7 17.7 576 6 40

61 46 Haskayne School of Business, University of Calgary Canada 16.9 19.2 17.3 620 5 37

62 80 Michael G. Foster School of Business, University of Washington United States 12.0 46.9 17.2 670 6 55

63 57 Segal Graduate School of Business, Simon Fraser University Canada 18.0 12.8 17.2 607 6 18

64 52 The Johns Hopkins Carey Business School United States 14.7 29.2 16.9 650 3 45

65 62 School of Business, George Washington University United States 14.7 27.4 16.6 620 5 47

66 Eller School of Management, University of Arizona United States 10.4 47.8 16.0 639 4 22

67 49 Gustavson School of Business, University of Victoria Canada 14.7 19.2 15.4 560 4 78

68 72 Cox School of Business, Southern Methodist University United States 16.9 5.7 15.2 641 4 57

69 University of California, Riverside United States 13.6 16.0 14.0 593 3 20

70 50 J. Mack Robinson College of Business, Georgia State University United States 12.0 23.3 13.7 600 5 17

71 47 Leeds School of Business, University of Colorado at Boulder United States 13.1 16.7 13.6 625 5 50

72 90 LeBow College of Business, Drexel University United States 14.2 9.5 13.5 600 5 24

73 Henry B. Tippie School of Management, University of Iowa United States 11.4 22.2 13.0 635 7 32

74 Universite Laval Canada 12.0 15.8 12.6 643 3 30

75 70 Daniels College of Business, University of Denver United States 13.1 9.2 12.5 602 4 67

76 68 Peter F. Drucker, Claremont Graduate University United States 12.5 12.1 12.4 625 4 26

77 32 School of Business Administration, University of Miami United States 13.6 5.2 12.3 704 5 62

78 64 Graduate School of Management, University of San Francisco United States 14.2 1.0 12.2 570 4 25

79 44 John Molson School of Business, Concordia University Canada 12.5 10.3 12.2 623 6 33

80 Odette School of Business, University of Windsor Canada 13.6 3.3 12.1 615 2 30

81 Loyola University Chicago United States 11.4 11.5 11.4 575 4 70

82 67 Rutgers Business School - Newark and New Brunswick United States 12.0 7.4 11.3 582 2 21

83 Graduate School of Business, University of Florida United States 1.5 54.0 9.4 672 5 30

84 School of Business, University of Northern British Columbia Canada 8.2 14.1 9.1 575 7 50

85 Graduate School of Business Administration, San Diego State University United States 9.3 6.7 8.9 602 4 20

86 37 Owen Graduate School of Management, Vanderbilt University United States 9.3 5.7 8.8 688 5 36

87 76 Katz Graduate School of Business, University of Pittsburgh United States 8.2 7.0 8.0 622 4 18

88 Terry College of Business, University of Georgia United States 7.2 11.7 7.9 643 5 32

89 55 American University Kogod School of Business United States 7.7 8.2 7.8 590 4 44

90 82 School of Management, University at Buffalo - SUNY United States 7.7 3.0 7.0 600 2 0


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The triumvirate that dominates the top tier of US business schools once again occupies the top of the North American list this year, with Harvard Business School, Stanford Graduate School of Business and the University of Pennsylvania’s Wharton School in an unprecedented three-way tie for the No. 1 spot. Last year, Harvard, Stanford and Wharton took the No. 1, 2 and 3 spots, respectively.

The three schools, along with Northwestern University’s Kellogg School of Management scored the highest on employer reputation. They account for four of the six ‘perfect’ employer scores worldwide. Harvard, Stanford, and Wharton, along with MIT’s Sloan School of Management also achieved the highest score for academic reputation. Those four US schools are the only ones to achieve ‘perfect’ academic scores worldwide.

New York University’s Stern School of Business is the biggest climber in the top 10, moving up 11 spots to No. 10. Also new to the top 10 this year: the Ross School of Business at the University of Michigan, which advanced four spots to No. 8. Falling out of the top 10 were the Fuqua School of Business at Duke University, which fell three spots to No. 13, and the Joseph L. Rotman School of Management at the University of Toronto, which fell six spots to No. 14.

Other big climbers include the McCombs School of Business at the University of Texas, Austin, up 10 spots to No. 19, the Marshall School of Business at the University of Southern California, up 18 spots to No. 23, and the Paul Merage School of Business at the University of California, Irvine, up 18 spots to No. 33.

Since employer scores count for 85% of the final ranking, those scores more or less track the overall ranking. But academic scores fluctuate broadly. In fact, the bottom half of the list includes 10 schools with academic scores that exceed the regional average (42.5), including the Carlson School of Management at the University of Minnesota (57.2), Penn State’s Smeal College of Business (59.5), and the University of Maryland’s Robert H. Smith School of Business (62.9).

Among all 90 North American schools on the list, the average GMAT score is 651. Harvard, Stanford, and Wharton all boast the highest GMAT scores of the group – at or above 725 – and there appears to be a fairly close correlation between those scores and the overall ranking.

Every school in the top 10, boasts a 700+ GMAT score, a benchmark reached or surpassed by fewer than one out of five programs in North America. Among top 15 schools attracting these high-caliber students are the highly-ranked MIT Sloan School, the Stern School at NYU, and the Yale School of Management; but also the No. 24 Tuck School of Business at Dartmouth (718), No. 25 S.C. Johnson Graduate School of Management at Cornell (700), No. 37 Darden School of Business at the University of Virginia (706), and even No. 77 University of Miami School of Business Administration (704).

A total of 10 schools that were not ranked in 2013 were ranked in 2014, including seven from the US and three in Canada. The Eller School of Management at the University of Arizona, entering at 66th, and Université Laval, at 74th, are the highest-ranked of these programs from the US and Canada, respectively.

Top business schools by region: Europe


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2014 Rank


ScoreAcademic

ScoreOverall Score

Avg GMAT Score


1 2 London Business School United Kingdom 100.0 99.9 100.0 700 6 97

2 1 INSEAD France 100.0 99.6 99.9 702 6 70

3 4 Said Business School, Oxford University United Kingdom 96.6 99.7 97.1 692 5 85

4 10 HEC Paris MBA Program France 95.8 88.4 94.7 683 6 90

5 6 SDA Bocconi School of Management Italy 86.5 89.0 86.9 665 5 95

6 3 IE Business School Spain 94.3 43.7 86.7 672 5 70

7 8 ESADE Business School Spain 85.3 74.9 83.7 670 5 92

8 5 IMD Switzerland 88.0 51.9 82.6 676 7 80

9 7 IESE Business School, University of Navarra Spain 83.5 54.9 79.2 670 4 97

10 13 Judge Business School, University of Cambridge United Kingdom 75.1 99.9 78.8 680 7 88

11 14 Imperial College Business School, Imperial College London United Kingdom 69.5 88.4 72.3 638 7 91

12 9 Copenhagen Business School Denmark 52.2 89.0 57.7 647 7 80

13 20 Warwick Business School, University of Warwick United Kingdom 47.1 89.5 53.5 658 7 88

14 27 Manchester Business School, The University of Manchester United Kingdom 44.4 92.3 51.6 629 6 95

15 11 The St.Gallen MBA, University of St Gallen Switzerland 45.0 64.9 48.0 656 6 90

16 29 ESSEC Business School France 35.2 43.5 36.5 600 6 68

17 17 Cranfield School of Management United Kingdom 33.6 49.5 36.0 660 7 80

18 15 Mannheim Business School Germany 24.6 62.4 30.3 675 7 83

19 21 European Business School (EBS) Germany 32.4 15.1 29.8 600 7 94

20 19 Rotterdam School of Management, Erasmus University Netherlands 17.4 94.5 29.0 640 6 70

21 12 Trinity MBA,University of Dublin, Trinity College Ireland 25.8 40.2 28.0 625 5 47

22 44 Cass Business School United Kingdom 21.9 51.5 26.3 634 7 70

23 23 ESIC Business & Marketing School Spain 21.9 30.6 23.2 680 5 84

24 30 University of Edinburgh Business School United Kingdom 14.7 66.3 22.4 650 5 94

25 45 Grenoble Graduate School of Business, Grenoble Ecole de Management France 19.6 28.2 20.9 N/A 8 69

26 24 MIP - School of Management, Politecnico di Milano Italy 18.5 29.3 20.1 610 6 94

27 35 EDHEC Business School France 19.1 24.9 20.0 646 9 60

28 49 Business School Lausanne Switzerland 18.5 21.8 19.0 640 3 80

29 37 Sorbonne Graduate Business School - IAE de Paris France 14.2 42.8 18.5 600 4 60

30 33 Henley Business School United Kingdom 15.2 35.0 18.2 N/A 5 97

31 42 Nottingham University Business School United Kingdom 12.0 51.8 18.0 640 6 88

32 Birmingham Business School United Kingdom 12.0 44.7 16.9 N/A 8 68

33 25 WHU Otto Beisheim School of Management Germany 13.1 35.7 16.5 650 4 72

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2014 Rank


ScoreAcademic

ScoreOverall Score

Avg GMAT Score


34 Aberdeen Business School, The Robert Gordon University United Kingdom 16.9 12.6 16.3 N/A 5 96

35 60 University of Strathclyde Business School United Kingdom 7.7 55.1 14.8 660 10 75

36 36 Ashridge Business School United Kingdom 15.2 6.4 13.9 600 13 87

37 Lancaster University Management School United Kingdom 1.5 75.1 12.5 601 8 91

38 51 Aston Business School, Aston University United Kingdom 4.6 52.9 11.9 600 7 65

39 31 Smurfit School of Business, University College Dublin Ireland 7.2 35.5 11.5 630 8 90

40 52 Durham Business School, Durham University United Kingdom 8.2 29.7 11.4 650 8 84

41 50 EMLYON Business School France 5.6 43.4 11.3 600 7 90

42 47 Amsterdam Business School, Universiteit van Amsterdam Netherlands 2.5 57.8 10.8 630 4 48

43 Kingston Business School, Kingston University United Kingdom 6.7 33.1 10.7 550 3 62

44 Aalto University School of Business Finland 1.5 59.0 10.1 590 8 76

45 Audencia Nantes School of Management France 7.2 20.9 9.3 580 8 15

46 54 IAE Aix Graduate School of Management, Université Paul Cezanne (Aix-Marseille III) France 7.2 17.3 8.7 550 5 53

47 Aarhus School of Business, Aarhus University Denmark 1.5 49.4 8.7 N/A 5 40

48 46 University of Exeter Business School United Kingdom 7.2 16.2 8.6 600 8 40

49 43 Faculdade de Economia, Universidade Nova de Lisboa Portugal 8.8 6.9 8.5 617 5 95

50 Universidad Carlos III de Madrid Spain 4.1 31.1 8.2 N/A 4 13

51 Athens University of Economics and Business (AUEB) Greece 6.1 16.0 7.6 616 4 50

52 56 ALBA Graduate Business School Greece 8.2 3.6 7.5 600 7 80

53 International Organisations MBA, University of Geneva (HEC) Switzerland 6.1 12.5 7.1 500 5 100

54 53 Bradford University School of Management United Kingdom 2.5 30.9 6.8 600 6 100

55 Maastricht School of Management Netherlands 1.5 35.0 6.5 600 5 70

56 Nyenrode Business Universiteit Netherlands 6.7 5.2 6.5 600 6 80

57 Hull University Business School United Kingdom 3.0 25.3 6.4 N/A 3 88

58 37 HHL - Leipzig Graduate School of Management Germany 4.6 16.0 6.3 630 5 96

59 School of Management, Royal Holloway United Kingdom 5.6 9.7 6.2 575 3 84

60 Koç University Turkey 4.6 13.6 6.0 600 3 87

61 Brunel Business School, Brunel University United Kingdom 2.5 25.3 5.9 N/A 7 80

62 Middlesex University Business School United Kingdom 3.0 21.9 5.8 N/A 7 22

63 Management School, The University of Sheffield United Kingdom 2.0 26.7 5.7 600 5 90

64 26 Vlerick Leuven Gent Management School Belgium 1.5 29.4 5.7 600 6 40

65 47 LUISS Business School Italy 6.1 3.1 5.7 N/A 3 97


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A close battle for first place in Europe ended with London Business School dethroning France’s INSEAD from the No. 1 spot, a position it has held for more than a decade. With perfect scores among international MBA employers and near-perfect academic scores, the two have a profile that far exceeds that of any other school in the region, and places them alongside Harvard Business School at the top of the global hierarchy. But in the end, it was academic reputation that allowed LBS to topple INSEAD by the narrowest of margins.

Beyond the top two there has been a shift in the hierarchy this year, with Saïd Business School at Oxford University climbing one spot to third place and HEC Paris leapfrogging numerous rivals from 10th place to the No. 4 spot. SDA Bocconi School of Management rounds out the top five.

Among the top 10 schools, there was one newcomer: Judge Business School at the University of Cambridge, which rose three spots to No. 10. Copenhagen Business School, falling three spots to No. 12, was the only school to drop out of the top 10.

Of the 65 schools on the list, the United Kingdom dominates by far, with 26 schools represented, followed by France (9), Spain (5), Switzerland (4), Germany (4), the Netherlands (4), Italy (3), Denmark (2), Ireland (2), Greece (2), Finland (1), Portugal (1), Turkey (1), and Belgium (1).

The methodology change resulted in big swings for many schools, with nine schools gaining more than 10 spots – in some cases far more than that. The University of Strathclyde Business School, Cass Business School, Business School Lausanne, and Grenoble Graduate School of Business all gained 20 spots or more.

Unlike North American programs, the GMAT scores at European schools vary widely. Even among the top 10, they vary from a high of 702 for INSEAD to a low of 600 for Saïd Business School and SDA Bocconi – a range of 102 points, compared to a 31-point spread in North America.

In this aspect of the battle for MBA talent, Germany appears to be winning in Europe. German schools report average GMAT scores of 636, followed by Spain (614), France (610), Netherlands (601), the UK (600), and Switzerland (595).

But in terms of winners and losers, the UK clearly comes out ahead. Among countries with four or more ranked schools, Spain and Switzerland have as many schools with gains as losses, Germany has more losers than winners, while the Netherlands and France have more winners. Neither one topped the UK though, with 22 schools advancing in the ranking (including nine that were not ranked last year), and only two retreating.

Top business schools by region: Asia-Pacific


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ScoreAcademic

ScoreOverall Score

Avg GMAT Score


1 1 INSEAD - Singapore Singapore 76.9 99.6 80.3 702 6 70

2 4 NUS Business School, National University of Singapore Singapore 34.1 99.9 44.0 672 5 97

3 12 The HKUST Business School Hong Kong 18.0 98.0 30.0 669 6 95

4 19 Faculty of Business and Economics, The University of Hong Kong Hong Kong 18.0 94.8 29.5 664 5 86

5 10 Nanyang Business School, Nanyang Technological University Singapore 18.0 89.2 28.7 650 5 38

6 7 Beijing International MBA Programs-BiMBA, Peking University China 17.4 84.9 27.5 550 6 70

7 3 Melbourne Business School, The University of Melbourne Australia 12.5 97.6 25.3 600 5 14

8 2 Indian Institute of Management, Ahmedabad India 20.2 48.8 24.5 711 10 67

9 8 AGSM MBA Programs, University of New South Wales Australia 12.0 93.6 24.2 630 7 25

10 20 Graduate School of Business, Seoul National University Korea, South 10.4 85.3 21.6 510 5 70

11 14 College of Business and Economics, The Australian National University ANU Australia 8.8 93.8 21.6 500 5 80

12 18 The Chinese University of Hong Kong Hong Kong 9.3 90.1 21.4 650 5 10

13 5 Indian Institute of Management, Bangalore India 12.0 43.6 16.7 - 2 69

14 23 La Trobe Business School, La Trobe University Australia 13.6 30.2 16.1 640 7 19

15+ 17 Faculty of Business and Economics, Monash University Australia 3.0 84.9 15.3 600 9 90

15+ 26 Guanghua School of Management, Peking University China 3.0 84.9 15.3 640 5 61

17 9 Indian Institute of Management Calcutta India 11.4 34.6 14.9 - 2 35

18 16 School of Management, Fudan University China 4.1 70.7 14.1 650 5 3

19 UQ Business School, University of Queensland Australia 1.5 85.2 14.1 - 10 45

20 21 School of Economics and Management, Tsinghua University China 1.5 79.5 13.2 - 6 72

21 31 Lee Kong Chian School of Business, Singapore Management University Singapore 4.6 61.8 13.2 652 6 75

22 15 Sydney Business School, University of Wollongong Australia 11.4 18.1 12.4 - 6 39

23 11 China Europe International Business School (CEIBS) China 9.3 27.5 12.0 692 5 90

24 13 Macquarie Graduate School of Management, Macquarie University Australia 4.1 54.3 11.6 680 10 70

25 34 Graduate School of Business and Law, RMIT University Australia 5.6 43.5 11.3 600 5 73

26 25 Waseda Business School Japan 3.5 46.0 9.9 550 5 60

27 UWA Business School, The University of Western Australia Australia 1.5 54.4 9.4 610 6 50

28 22 The University of Adelaide Business School Australia 3.5 42.4 9.3 550 5 13

29 6 Indian School of Business India 8.2 13.7 9.0 711 5 70

30 29 QUT Brisbane Graduate School of Business Australia 2.5 42.4 8.5 550 3 15

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It’s no surprise that INSEAD’s Singapore program retained its grip on the Asia-Pacific title this year. Its reputation among international MBA employers exceeds that of all other business schools in the region several times over and its academic reputation is among the very best in the world, giving it an overall profile not unlike that of some of the top schools in Europe and the United States.

But below the coveted No. 1 spot, this regional ranking underwent dramatic change, with Singapore solidifying its hold on the top of the list, two Hong Kong schools coming out of nowhere to establish a formidable foothold in the top five, and India losing three of its four top 10 spots including those held by IIMs in Bangalore and Calcutta as well as the prestigious Indian School of Business.

New to the top 10 this year are the No. 3 HKUST Business School, up nine spots from last year, the No. 4 Faculty of Business and Economics at the University of Hong Kong, up 15 spots, and the Graduate School of Business at Seoul National University, which jumped 10 spots on the strength of a powerful academic reputation to take the No. 10 spot.

While Singapore is now firmly ensconced at the top of the list, it’s Australia that dominates the list itself, with a total of 12 programs making the cut, including two top 10 programs, Melbourne Business School and the AGSM MBA program at the University of New South Wales. China is next, with five programs on the list, followed by Singapore (4), India (4), Hong Kong (3), South Korea (1), and Japan (1).

GMAT scores in the region average 625, a full 26 points higher than those in Europe, but 26 points shy of those in North America.

The academic reputation of the Asia-Pacific schools, however, is far better than either – 66.4 to North America’s 42.5 and Europe’s 44.2 – with fewer schools having academic scores below 40 (17% compared to half of all schools in Europe and North America). Consistent high academic quality among virtually all schools is one of the defining attributes of the Asia-Pacific market. The highest academic scores are enjoyed by schools in Hong Kong (94.3), followed by Singapore (87.6), China (69.5), Australia (61.7), and India (35.2).

Top business schools by region: Latin America


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2014 Rank


ScoreAcademic

ScoreOverall Score

Avg GMAT Score


1 1 EGADE-Tecnológico de Monterrey, Campus Monterrey Mexico 14.2 76.2 23.5 628 8 10

2 2 Pontificia Universidad Católica de Chile Chile 12.5 66.8 20.7 500 3 15

3 6 Universidad de Chile Chile 8.2 55.9 15.4 500 15 15

4 5 Instituto Tecnológico Autónomo de México (ITAM) Mexico 7.2 58.2 14.9 580 7 85

5 Universidad Adolfo Ibáñez Chile 5.6 36.5 10.2 610 4 70

6 8 INCAE Business School Costa Rica 7.2 25.9 10.0 550 5 60

7 4 Fundacao Getulio Vargas Brazil 1.0 53.3 8.9 550 5 60

8 7 IAE Business School, Universidad Austral Argentina 4.1 28.2 7.7 651 5 -

9 Universidad Diego Portales Chile 6.1 9.9 6.7 550 5 9

10 10 IPADE Business School, Universidad Panamericana Mexico 4.1 15.5 5.8 608 4 -

A total of 10 Latin American schools earned a place on the Global 200 list this year. Chile dominates the list with four schools, followed by Mexico with three and Costa Rica, Brazil, and Argentina with one school each.

Mexico’s EGADE-Tecnológico de Monterrey, Campus Monterrey, Latin America’s top school for both employer recognition and academic reputation, retains the No. 1 spot, followed by Pontificia Universidad Católica de Chile, which also occupies the same position as last year.

The top school for GMAT scores was once again Argentina’s IAE Business School, Universidad Austral, with an average score of 651. Four of the 10 schools this year reported average GMAT scores that topped 600 – unchanged from last year – an impressive achievement in a region where the average score is 573.

Two schools fell out of the ranking this year: Brazil’s BSP–Business School Sao Paolo, which ranked third last year, and Peru’s ESAN, Escuela de Administracion de Negocios para Graduados, which ranked ninth—while two Chilean schools, unranked last year, joined the group: Universidad Adolfo Ibáñez at No. 5 and Universidad Diego Portales at No. 9.

Universidad de Chile was the big gainer, advancing three spots to No. 3, followed by Costa Rica’s INCAE Business School, which moved up two spots to No. 6, and Instituto Tecnológico Autónomo de México (ITAM), which moved up one spot to No. 4.

Top business schools by region: Middle East & Africa


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2014 Rank


ScoreAcademic

ScoreOverall Score

Avg GMAT Score


1 College of Industrial Management (CIM), King Fahd University Saudi Arabia 1.5 29.0 5.6 - 5 10

2 4 American University in Cairo Egypt 2.5 15.3 4.4 583 3 23

3 1 Graduate School of Business, University of Cape Town South Africa 1.5 20.3 4.3 580 7 6

4 5 The Suliman S. Olayan School of Business, The American University of Beirut Lebanon 2.5 4.4 2.8 610 7 19

5 2 University of Witwatersrand South Africa 1.0 9.2 2.2 500 4 19

The battle for dominance in the Middle East & Africa this year was won, and lost, on academic reputation. Unranked last year, the College of Industrial Management at King Fahd University, with the highest academic score in the region, took the No. 1 spot from the Graduate School of Business at the University of Cape Town, which fell to No. 3. The American University of Sharjah in the United Arab Emirates fell out of the ranking this year.

The American University in Cairo rose two spots to No. 2, while the Suliman S. Olayan School of Business at the American University of Beirut rose one spot to No. 4.

As a group, the schools in Middle East & Africa are the least international in the world, with the number of international students ranging from a high of 23% at American University in Cairo to a low of 6% at the Graduate School of Business at the University of Cape Town. They also lack significant recognition from international MBA employers.

But on academic reputation some schools in the region, such as King Fahd and Cape Town, enjoy the kind of profile enjoyed by some lower-ranked schools in the US and Europe.


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Media and Organization Partners

QS wishes to thank the following media and organization partners for contributing to the QS Global Employer Survey, the largest survey of its kind. The findings of the survey inform the QS Global 200 Business Schools Report 2014/15 and other independent QS research.

QS Quacquarelli Symonds Ltd

QS is the world’s leading information network for top careers and education. QSlinks high achievers from the graduate, MBA and executive communities around theworld with leading business schools, postgraduate departments at universities and

with employers, through websites, events, e-guides and technical solutions.

QS organizes the largest business educati on event in the world, the QS World MBATour and an extensive product range including print and online publications andsoftware solutions. It produces the annual TopMBA.com Applicant and Recruiter

Research and several annual reports including the Global 200 Top Business Schools:The MBA Employers’ Choice and the annual QS World University Rankings®.

Website: www.TopMBA.com

All information © QS Quacquarelli Symonds Ltd 2014

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