On September 28, Financial Times (FT) released its Global Masters in Management (MIM) Rankings 2020. Indian Institute of Management (IIM) Ahmedabad’s Post Graduate Programme in Management (PGPM) program is the top ranked program in India, closely followed by IIM Calcutta’s PGPM. After IIMA and IIMC, PGDM program of SP Jain Institute of Management & Research (SPJIMR) Mumbai and IIM Bangalore’s PGPM are tied together at No 3 position. All four B-schools are ranked amongst Top 50 globally. IIM Udaipur’s PGPM is ranked at #5 from India, and ranked #72 globally. Only five B-schools from India are ranked on this prestigious league table.
It important to note that FT MIM Rankings rank only those management programs where prior work experience is not mandatory, and hence ranks the flagship 2-year PGDM or PGPM programs of IIMs and other top B-schools in India.
Switzerland’s University of St Gallen with its MA in strategy and International Management is ranked at No 1 while at second spot was HEC Paris with a Master in Management program.
Even though IIMs have achieved good ranks but their performance has fallen somewhat from last year’s ranking. Last year’s top-ranking Indian School — IIMC was at rank 17 followed by IIMA at rank 21. IIMC has toppled down to rank 21 and is second-best Indian B-School. Last year, IIM Indore was ranked at #81, which is not ranked this year.
SPJIMR’s high rank and tie position with IIM Bangalore is significant as it’s the only private Indian B-school in the ranking, and much younger institution than top three IIMs which were set up in 1960 and early 1970s. Other leading private B-schools like XLRI Jamshedpur and MDI Gurgaon are missing in the rankings.
Global Top 10
Quite clearly European B-schools dominate the FT MIM Rankings. Switzerland’s University of St Gallen with its MA in strategy and International Management is ranked at No 1. At second spot was HEC Paris with a Master in Management program. Essec Business School is ranked third while London Business School is at rank four. Interestingly, US Business Schools which overshadow the FT MBA Rankings do not figure in MIM Ranking.
FT Masters in Management (MIM) Ranking 2020 – Global Top 10
- Rank 1: University of St Gallen
- Rank 2: HEC Paris
- Rank 3: Essec Business School
- Rank 4: London Business School
- Rank 5: Rotterdam School of Management, Erasmus University
- Rank 6: ESCP Business School
- Rank 7: Stockholm School of Economics
- Rank 8: Università Bocconi/SDA Bocconi
- Rank 10: Imperial College Business School
FT MIM Ranking 2020 –Indian B-schools Rankings
- Rank 20: IIM Ahmedabad
- Rank 21: IIM Calcutta
- Rank 36: SP Jain Institute of Management& Research (SPJIMR), Mumbai
- Rank 36: IIM Bangalore
- Rank 72: IIM Udaipur
MIM: A fast growing program globally
Globally, MIM offers foundational courses in management and business for students with work experience under 2 years. MIM programs are positioned for students keen on getting entry level management jobs and are not willing to wait for 5 years that are needed for an MBA. MIM programs are witnessing higher student interest off late. FT quotes Tim Mescon, EVP and Chief Officer of AACSB as saying “The pandemic has only increased interest in the MiM…Globally we are seeing the phenomenon we saw in 2008-09 when the financial crisis caused the last global meltdown. Many people are looking at their situation, saying maybe this is what I need to do for the next year to work on polishing my credentials.”
FT MIM Ranking 2020 Methodology
This was the 16th edition of the FT ranking of Masters in Management (MiM) programmes. A record 114 MiM programmes took part in the ranking process in 2020, up from 111 in 2019. Only those B-schools that have been accredited either by AACSB or Equis are ranked.
The rankings are calculated according to information collected through two separate surveys. The first is completed by the business schools and the second by alumni. In total the ranking has 17 criteria. Alumni responses inform seven criteria that together contribute 58 per cent of the ranking’s total weight. The remaining 10 criteria are calculated from school data and account for 42 per cent of the weight. The current average salary of alumni has the highest weighting, at 20 per cent. Salary increase is the second most important criterion, with a weighting of 10 per cent. International course experience and international mobility are two other significant criteria, each with a weight of 8 per cent.
Strong showing by five Indian B-schools, particularly by SPJIMR Mumbai, in the FT MIM Rankings shows that Indian B-schools have the potential to be amongst the best in the world. As more B-schools attain the AACSB and EQUIS accreditation, they must strategize and achieve atleast 10 rankings within Top 100 MIM programs in the world in the next few years. Global recognition, alliances and student admissions will follow.
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