When INSEAD launched a master in management program in 2019, it put the Fontainebleau, France-based business school on a path to rankings glory.

That journey came to a successful conclusion today (December 1), as INSEAD was named No. 1 for the first time in The Financial Times‘s annual ranking of European business schools. INSEAD jumped an incredible 17 places from last year as its MiM program, launched in 2019, was factored into its overall score for the first time, giving the French school programs in all categories in the magazine’s ranking.

HEC Paris fell out of first place in the Euro B-school ranking for the first time in six years, dropping to second. London Business School slipped to third from second, IESE of Spain dropped to fourth from third, and ESCP, which has multiple campuses around Europe, dropped to fifth from fourth.

2024 FINANCIAL TIMES’S EUROPEAN BUSINESS SCHOOL TOP 10

INSEAD HAD DROPPED 15 PLACES IN THE RANKING BETWEEN 2021 & 2023

There were some noteworthy leaps further down the ranking. Two schools made big jumps to join the top 25: Trinity Business School in Dublin, Ireland, which went from 32nd to 24th, and the UK’s Cranfield School of Management, which jumped from 37th to 25th. More dramatically, Skema Business School in France jumped to 26th from 71st, an improvement of 45 places, most of any school in the ranking; and EBS Business School in Germany moved up to 50th from 81st. (See the complete ranking on the next page.)

Porto Business School rose 14 positions to the 39th spot due to notable improvements in most evaluated categories, particularly in the Executive Education categories, where it ranks 33rd in Custom programs and 28th in Open programs. In the Executive MBA, Porto is in the 56th position, standing out as the second-best school nationally in this category. “We are very pleased with these results, which place us among the four business schools with the highest rise in positions in The Financial Times ranking, evaluating 100 institutions,” José Esteves, Dean of Porto Business School, says in a news release. “This recognition strengthens our motivation to continue developing innovative educational solutions aligned with the demands of the global market.”

But the real glory belonged to INSEAD, which had dropped 15 places in two years in the Euro B-school ranking before today. It had ranked as highly as second (in 2011) and third (in 2021) but never reached first. The triumph caps a strong rankings year, including a No. 3 MiM ranking by FT, a No. 2 global ranking from the magazine for its 10-month MBA program, a No. 1 by FT for custom executive education programs, and a No. 1 in P&Q‘s international MBA ranking.

INSEAD Dean Francisco Veloso tells Poets&Quants that the Euro B-school ranking “reflects the consistent excellence in everything we do at INSEAD — from our world-class faculty delivering impactful programs and groundbreaking research, to our ability to drive innovation and create value at every level of business education.”

INSEAD ALUMNI HAVE SECOND-HIGHEST SALARY IN RANKING

FT ranks B-schools by their MBA (25%), EMBA (25%), MiM (25%), and custom (12.5%) and open (12.5%) executive education programs. For MBA, EMBA, and MiM, scores are based on two main factors: average alumni salary three years after completion, and average difference in alumni salary between before their degree and three years after completion.

INSEAD, with FT‘s No. 1 MBA in Europe, has an MBA alumni salary of $198,904, a figure eclipsed only by the $202,534 at SDA Bocconi in Italy. INSEAD’s average MBA salary increase is 110%. In the MiM category, INSEAD grads make an average base salary of $118,984, 68% higher than their pre-MiM salary.

“From shaping high-potential talent to developing senior executives and supporting organizations in navigating complexity, our programs continue to redefine leadership and business,” says Veloso, whose school was named Poets&Quants‘ Program of the Year last December. “We are committed to empowering individuals with the skills, agility and global perspective to lead with lasting impact.

“In a world defined by rapid change and growing complexity, INSEAD’s enduring excellence comes from our steadfast dedication to our lasting mission of bringing together people, cultures and ideas to develop responsible leaders who transform business and society.”

See the next page for the complete 100-school Financial Times ranking.