To qualify for the rankings, business schools must offer full-time, cohort-based programmes accredited by AACSB or EQUIS, designed for students with limited or no work experience, the FT said. The rankings focus on general management programmes rather than specialised programmes.
SP Jain Institute of Management and Research (SPJIMR) has ranked 35th in the list, followed by Indian Institute of Management Ahmedabad at 39th and Indian Institute Bangalore at 41st. Check out the detailed list of Indian institutes that made it to the FT Rankings 2024.
FT Ranking 2024 vs 2023: A Comparative Analysis
In 2023, a total of 11 Indian institutes featured in the Financial Times (FT) rankings. This year, the number has increased to 14, marking a significant progress. New Indian entrants in the FT 2024 list include Indian Institute of Management (IIM) Indore, Symbiosis Centre for Management and Human Resource Development (SCMHRD) and IIM Bangalore.
SP Jain Institute of Management and Research (SPJIMR) has jumped from 40th position last year to 35th in 2024. IIM Ahmedabad has moved up from 43rd position to 39th, while IIM Calcutta has moved up from 60th position to 56th. IIM Lucknow has made a notable jump from 72nd position to 55th. IIM Kozhikode has moved up from 77th position to 68th. XLRI-Xavier School of Management has registered a notable rise, moving up from 85th position to 65th, while IIM Udaipur has moved up from 88th position to 81st. Management Development Institute (MDI) Gurgaon has also moved up from 93rd position to 85th.
However, some institutes also saw a drop in their rankings in 2024. NMIMS Mumbai, School of Business Management slipped from 83rd place to 94th and International Management Institute (IMI) New Delhi dropped from 84th to 86th. On the other hand, Institute of Management Technology (IMT) Ghaziabad has seen a drop in its rankings and has dropped from 92nd to 97th this year.
FT Ranking 2024: A look at the parameters used
The ranking parameters used by FT are outlined here along with the weightage of each.
- Weighted salary (16%): Average salary three years after graduation, adjusted for region and purchasing power parity.
- Salary Increase (10%): Increase in salary of alumni since completion of the course, based on both absolute and relative increase.
- Value for Money (6%): Current alumni salaries vs. tuition and costs.
- Career progression (6%): Changes in seniority and company size after graduation.
- Goals Attained (5%): Alumni who completed their master’s degree goals.
- Career Services (4%): Support provided by alumni for recruitment.
- Alumni Network (3%): Network effectiveness as rated by alumni for career development, start-ups and events.
- Employment in three months (5%): Percentage of graduates who were employed within three months.
- Female faculty and female students (5% each): Ratio of female faculty and female students.
- Women on Board (1%): Percentage of women on the school’s advisory board.
- International Faculty and Students (5% each): Diversity based on citizenship, faculty and students work or study outside their country.
- International Board (1%): Percentage of board members from outside the school’s location.
- Job mobility (6%): Alumni job transfers after graduation.
- International course experience (6%): Graduates who have completed an exchange or internship abroad for at least one month.
- Faculty with PhDs (4%): Proportion of faculty with doctorates.
- ESG and Net Zero Teaching (3%): Core teaching on ethics, sustainability and climate solutions, rated by alumni.
- Carbon footprint (4%): Based on net zero target year and presence of a carbon audit report, with additional credit for those covering Scope 3 emissions.
