Why most B-schools look forward to FT rankings

FT rankings have well-defined and objective parameters, such as ‘salary today’, ‘weighted salary’, ‘salary increase’, instead of subjective parameters such as perception.

In the latest FT Executive Education Open 2023 rankings released on May 21, IIM Ahmedabad was ranked 45th in the world, followed by IIM Bangalore (47), ISB (65) and IIM Kozhikode (72).

During a recent interaction, we asked the director of IIM Bangalore which ranking does his institute looks forward to be part of. He replied that one national ranking (NIRF) and one international (FT business school rankings) are enough.

This is a view shared by most top business schools in India, four of which got featured in the latest FT rankings. A former IIM director told FE that taking part in too many rankings can shift the focus away from excellence in education, but NIRF and FT give a clear idea of one’s standing vis-à-vis others.

In the latest FT Executive Education Open 2023 rankings released on May 21, IIM Ahmedabad was ranked 45th in the world, followed by IIM Bangalore (47), ISB (65) and IIM Kozhikode (72).

Prof Debashis Chatterjee, director, IIM Kozhikode, told FE that the parameters FT rankings use (such as course design, teaching methods, faculty, quality of peers, new skills and learning, growth, partner schools, and faculty diversity) take into account not only the data submitted by participating institutes, but also give due weightage to participant responses. “All these factors contribute to FT rankings being considered as the most accurate credentials for top MBA colleges and courses in the world,” he said.

On FT rankings vis-à-vis the management component of the NIRF, Prof Chatterjee added that the methods of the NIRF are also very transparent (it is conducted by the Ministry of Education). “While the NIRF gives a definite advantage to B-schools within India, we can use FT rankings for internationalisation of admissions, placements, student exchange, faculty exchange etc and contribute in making India the study capital of the world,” he said.

Prof Ramabhadran Thirumalai, deputy dean, Academic Programmes, ISB, added that rankings play an important role at every B-school. “Building on this crucial aspect, ISB regularly takes part in various global rankings,” he said. “Different rankings focus on different aspects of the MBA experience and outcomes, which provide various stakeholders, including prospective students, a holistic view of how ISB compares to different global schools along various dimensions.”