Singapore has added another feather in its cap of having top business schools figuring high on the Financial Times’ annual global ranking of MBA programmes. The business school - INSEAD in Singapore has emerged as the world’s best business school.
According to the Financial Times global ranking list, Nanyang Technological University's (NTU) Nanyang Business School is at 24th place while National University of Singapore (NUS) Business School has grabbed 26th place.
In the annual ranking list, Stanford Graduate School of Business rose to second place from fifth while Wharton School of University of Pennsylvania scaled to third spot from fourth last year.
Many prestigious business schools didn’t fare impressively and slipped down in the global ranking. Harvard Business School fell to fourth spot, the first time in nine years that it has been outside of the top three while London Business School fell three places to sixth, it's worst show in 14 years.
Notably, it is the second year that INSEAD, the multi-campus international business school has taken the number one spot, after claiming it for the first time last year. Pointedly, first campus of INSEAD was established in Fontainebleau, France, in 1957 and the second in Singapore in 1999. Its MBA is one of the most internationally diverse and about 95 per cent of its faculty and students are international. Its alumni are ranked third for their mobility and the programme is ranked sixth for its international course experience.
Financial Times ranking is based on surveys of business schools and their graduates of 2013. MBA programs are assessed according to the career progression of their alumni, the school's idea generation and the diversity of students and faculty.
An NTU MBA graduate goes on to earn US$126,218 annually on average while the NUS MBA graduate is able to make US$131,760. In terms of offering good value for money, Nanyang Business School came in 26th globally, while NUS Business School was 33rd.