Last Updated on February 12, 2024 by Robert C. Hoopes
Title: Wharton Claims Top Spot in 2024 Financial Times MBA Ranking Amidst Surprising Shifts
The Wharton School of the University of Pennsylvania has rebounded impressively in the latest Financial Times MBA ranking, securing the coveted first place after a disappointing run last year. Meanwhile, Harvard Business School and Stanford Graduate School of Business faced unexpected setbacks, experiencing significant drops in their respective rankings.
Harvard Business School, renowned for its prestigious MBA program, fell seven places to 11th, marking its lowest rank ever in the FT ranking. Similarly, Stanford witnessed a startling decline, dropping 19 places to 23rd. This unprecedented fall in rankings for both institutions can be attributed to various metrics used by the Financial Times, including academic research, post-MBA salary increases, value for money, carbon footprint, devotion to environmental, social, and governance (ESG) issues, and the international mobility of graduates.
Despite the slip, Stanford maintains its lead in alumni earnings, though the gap between the renowned rivals has notably narrowed. Stanford alumni earn an average salary of $250,650, while Harvard graduates follow closely behind with an average salary of $246,509.
Apart from standout alumni earnings, the Financial Times rankings indicated that Stanford also boasts the best alumni network, with Tuck and Cornell trailing behind. However, Stanford’s ranking may have been affected by an unforeseen statistical glitch as it failed to provide data on the percentage of faculty with an international background, resulting in a score of zero for that category.
The top five full-time MBA programs in the latest FT ranking feature INSEAD, SDA Bocconi, and IESE Business School from Europe, while Wharton clinched the coveted first spot. These unexpected results have called into question the validity and accuracy of the rankings, especially considering the outperformance of schools like Cornell over traditional heavyweights Harvard and Stanford.
On a positive note, MIT Sloan and London Business School have witnessed significant improvements in the rankings. MIT rose five spots to tie with Kellogg, while London surged eight places to claim the eighth rank.
Wharton’s first-place triumph can be attributed to its strong performance across multiple metrics, including faculty research and alumni salaries. This remarkable recovery showcases the school’s commitment to excellence and its ability to adapt to changing demands.
As the FT MBA ranking reveals a turbulent shakeup among elite MBA programs, industry experts and students alike are left contemplating the shifting landscape and its implications on their MBA careers.