Headed by the Swiss University of St. Gallen, the latest Master in Management (MiM) ranking by the Financial Times arrived in September 2024 to reveal new insights about top programmes, salary trends, the gender pay gap, and more.

This year the University of St. Gallen has reclaimed its top spot (after coming second in the previous ranking), followed by HEC Paris and INSEAD from France. Although the latter is newly ranked for their Master in Management, the 2024 list includes four other French schools in the top 10. The top tier also features universities from China, the UK, and Portugal. A total of 24 countries are represented in this edition of the MiM ranking.

The Master in Management degree typically takes one year to obtain and is designed for graduates with no prior professional experience. It has been growing in popularity for the past decade not only for offering excellent introductory business training, but also for being more affordable than an MBA.

Salary trends

The Financial Times (FT) uses salaries reported by alumni three years after completing the MiM as one of their main ranking criteria, which gives us some interesting insights about the average pay in different sectors. Master in Management graduates working in finance saw a 4% salary increase in early 2024, reaching an average of USD 88,518 three years post-graduation, according to FT data. This annual growth rate outpaced other lucrative sectors like consulting (USD 85,000) and technology (USD 84,000).

Although the gender pay gap has dipped to 9% – its lowest level in 2024, the research shows that male MiM graduates still earn more than women across all sectors.

Notable achievements

Besides salary data, the Financial Times uses information on career progress, the quality of the alumni network, and commitments to environmental, social and governance (ESG) factors to rank participating business schools.

The University of St. Gallen, London Business School (UK), and Nova School of Business and Economics (Portugal) ranked highest for alumni-assessed “aims achieved”. The #1 university located in northeastern Switzerland also leads in student assessments of career services and alumni network.

When it comes to sustainable initiatives, SKEMA Business School and Excelia Business School – both located in France – ranked highest for ESG-focused teaching content.

As always, it’s important to consider if the ranking’s specific methodology fits the student’s goals. Different publications may have their own focus and ranking criteria, resulting in very different results. “Participation in the FT rankings is voluntary, and schools must be accredited by one of the two leading agencies, AACSB and EQUIS, as well as meeting other criteria, including minimum class size and a sufficient number of survey responses from alumni,” the Financial Times notes about the methodology.

Innovative tools for programme selection

While the Financial Times MiM ranking provides valuable insights into top Master in Management programmes, prospective students may also benefit from exploring complementary tools like the 360° MBA Ranking by Unimy. This innovative platform offers a personalised approach to business school selection.

Although primarily focused on MBA programmes, the 360° MBA Ranking’s unique Cultural Fit Index and customisable criteria could provide additional perspectives for Masters candidates. By considering both the Financial Times ranking and tools like the 360° MBA Ranking, students can gain a more complete view of potential programmes, helping them make informed decisions about their education and future career.