Financial Times Global MBA Ranking 2021 has released a list of top 100 business schools in the world. Five Indian B-Schools, including four Indian Institutes of Management (IIMs), have managed to secure a position in the list.
Indian School of Business (ISB) has been ranked 23rd, IIM Bangalore at 35, IIM Calcutta at 44, IIM Ahmedabad at 48, and IIM Indore was at 94 position, as per the rankings released on Monday.
If compared it to the last year, ISB has improved four positions and IIM Ahmedabad climbed 13 positions to be ranked. While, IIM Indore has made an entry in the list for the first time. However, IIM Calcutta has gone two positions down and IIM Bangalore dropped to eight positions.
Globally, INSEAD, a school based in France and Singapore, has topped the list of top 100 business schools in the world, followed by London Business School and Chicago Booth School of Business. As per reports, the Financial Times has said on its website that data gathering was hampered last year due to Covid-19 crisis, which caused a number of US-based business schools such as Harvard, Stanford and Wharton suspend their participation for FT Ranking 2021.
“This reiterates our commitment to delivering the best quality of management education at IIMC. Moreover, the success of our alumni over the years is a true testament to this commitment…The global education sector was shocked to the core in the wake of the pandemic in 2020. The physical education delivery model as we knew it came to a standstill and most countries like ours, are still struggling to get back on their feet and bring students back to physical classrooms safely. However, we emerged strongly in adversity by introducing a blended model for learning continuity. Education in the new normal will be about resilience and non-stop learning,” Livemint quoted Anju Seth, Director, IIM Calcutta as saying over email.
Rajendra Srivastava, Dean of ISB, which has secured number one position from India and third in Asia, said it will continue to work even harder to rank more well. “This ranking also highlights and strengthens ISB’s efforts to produce world-class research and encourage more women to join the management workforce. The increasing number of prominent business schools from India making their mark globally makes the world notice India as a destination for high-quality management education,” Livemint quoted Srivastava as saying.
What is FT Ranking?
FT Ranking is seen as a parameter to check quality of MBA and other management education. The FT global rankings is calculated based on the salaries earned by the alumni three years after completing their graduation, quality of research, value for money, among others.