For the fifth time since 1999, Harvard Business School tops the 2014 Global MBA Ranking published Sunday by the Financial Times. Stanford Graduate School of Business occupies the number-two slot for a second year running, while Wharton School swapped places with London Business School this time around, and Columbia Business School and INSEAD share the fifth place spot.
In fact, seven of the top ten MBA programs are taught in U.S. business schools, but France’s INSEAD (ranked 5th) and Spain’s IESE Business School (ranked 7th) also make the cut. Financial Times calls Yale School of Management a “notable climber” for rising four places to 10th, noting that this is the SOM’s first appearance in the top 10 in seven years.
The ranking also shows the salary of 2010 graduates of elite MBA programs has doubled over the past five years, despite a sluggish global economy. According to the Financial Times survey, 94% say they had achieved the salary increase they were looking for after business school.
Stanford GSB graduates enjoy the highest salaries, averaging $184,000 annually. The second highest salary earners were Harvard graduates, with $178,000. Wharton graduates aren’t far behind though, with salaries averaging $170,000.
The FT says its ranking is based on two surveys of the business schools and their alumni who graduated in 2010. MBA programs are assessed according to the career progression of their alumni, the school’s idea generation and the diversity of students and faculty. Compensation, however, is the most important factor in the ranking and accounts for nearly half of the total weight.