Business school rankings from the Financial Times

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Global MBA Rankings

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Global MBA Ranking 2014

	Rank '14	Rank '13	Rank '12	3 yr. rank	School name	Country	Audit year^[1]	Salary today($)^[2]	Weighted salary($)^[3]	Salary increase(%)^[4]	Value^[5]	Careers^[6]	Aims achieved^[7]	Placements^[8]	Employment (%)^[9]	Recommends^[10]	Female faculty(%)^[11]	Female students(%)^[12]	Female board(%)^[13]	Int. faculty(%)^[14]	Int. students(%)^[15]	Int. board(%)^[16]	Int. mobility^[17]	Int. course^[18]	Languages^[19]	PhD Faculty^[20]	PhD rank^[21]	Research^[22]
	1	1	2	11	Harvard Business School	US	2013	175,99411,438	178,3008,923	1138	869	41	5033	242	89 (100)0	10	231	411	501	400	349	1410	485	526	00	911	20	10
	2	2	1	20	Stanford Graduate School of Business	US	2010	182,05413,499	184,56610,079	10015	995	11	23	143	89 (99)1	20	202	361	181	431	411	212	542	234	00	952	40	104
	3	4	4	41	London Business School	UK	2010	155,6246,946	156,5534,435	10717	8419	122	32	272	95 (93)3	40	222	321	326	860	913	828	20	73	10	990	241	174
	4	3	3	31	University of Pennsylvania: Wharton	US	2013	170,56715,643	170,47210,300	9922	983	2715	305	311	93 (93)1	30	211	420	121	361	344	474	422	351	00	1000	12	20
	5	5	5	51	Columbia Business School	US	2014	165,89813,670	164,18110,166	1167	933	3915	534	236	90 (88)2	81	141	361	121	611	441	342	472	8226	00	971	215	75
	5	6	6	61	Insead	France / Singapore	2009	147,6767,122	148,1835,809	879	103	180	338	415	87 (93)1	71	162	343	166	883	961	791	47	14	20	950	2512	241
	7	7	9	80	Iese Business School	Spain	2014	141,8735,622	143,1682,881	12516	651	51	45	6124	90 (95)5	180	201	266	234	560	782	863	81	60	10	1000	767	541
	8	9	7	80	MIT: Sloan	US	2014	155,4085,402	157,2623,152	10116	974	140	6336	262	87 (100)2	50	201	341	121	374	533	571	453	311	00	1000	2016	40
	9	10	12	101	University of Chicago: Booth	US	2012	156,6238,055	156,0046,359	1008	944	4617	162	21	91 (99)1	90	160	350	130	373	488	402	556	608	00	970	103	71
	10	14	20	151	Yale School of Management	US	2013	149,7909,857	150,8808,490	1144	833	2012	51	320	85 (99)1	170	211	394	208	323	403	3810	5815	408	00	1000	441	234
	11	12	14	125	University of California at Berkeley: Haas	US	2012	148,5003,657	149,4872,465	917	908	3110	1417	82	92 (99)1	100	252	293	197	473	434	102	505	276	00	1000	126	63
	12	19	13	150	IMD	Switzerland	2009	142,582467	142,4464,934	727	38	70	11	10	78 (94)12	160	161	244	191	953	963	853	10	1824	10	1000	n/a0	741
	13	11	8	112	IE Business School	Spain	2014	142,8329,639	146,93310,121	1125	3416	1910	5910	911	91 (88)1	280	341	272	284	550	923	821	311	5315	10	950	6420	741
	14	8	10	113	Hong Kong UST Business School	China	2011	124,8807,805	125,0607,625	13914	3826	3612	347	795	72 (87)23	381	220	361	212	522	837	5216	241	84	10	973	276	5126
	15	13	16	152	Northwestern University: Kellogg	US	2014	156,9073,839	157,7193,550	945	928	249	175	95	91 (99)0	60	240	361	178	2614	391	92	655	171	00	874	72	134
	16	16	26	194	University of Cambridge: Judge	UK	2012	145,622326	144,350819	926	80	102	71	3528	87 (93)10	470	110	272	193	660	905	442	142	460	00	944	4010	638
	17	18	15	171	Duke University: Fuqua	US	2012	139,6304,597	141,7723,375	1008	884	6311	4216	195	87 (100)3	113	160	321	122	462	471	411	616	324	00	1000	812	51
	17	19	17	181	New York University: Stern	US	2014	142,7683,922	140,6623,924	979	1001	477	6619	210	93 (95)3	121	193	403	112	531	343	150	6413	361	00	1000	94	33
	17	15	24	190	Ceibs	China	2014	128,0344,472	127,1174,245	1561	5127	113	543	745	90 (99)5	331	111	4310	170	682	348	500	402	151	10	980	n/a0	748
	20	16	19	180	Dartmouth College: Tuck	US	2013	151,5497,930	150,7546,011	10116	958	2924	2113	158	90 (100)3	131	231	331	210	231	390	311	673	474	00	1000	n/a0	172
	21	21	18	201	HEC Paris	France	2014	120,0554,469	120,0163,555	1045	2812	2315	122	6812	89 (88)0	271	262	2412	104	664	882	651	52	94	10	1000	3616	514
	22	22	33	261	Esade Business School	Spain	2014	119,0288,472	120,7185,981	1202	486	85	812	454	91 (89)1	321	314	296	187	353	941	821	66	53	10	921	563	886
	23	24	20	222	University of Oxford: Saïd	UK	2013	131,9964,892	133,3153,294	914	203	152	1935	5529	74 (94)16	340	172	281	404	584	962	609	151	3915	00	982	3526	545
	23	30	29	271	University of Michigan: Ross	US	2014	140,422923	136,8283,367	10710	7417	4230	1548	111	86 (95)5	150	250	333	164	373	325	169	638	5113	00	913	154	134
	25	28	27	2711	Warwick Business School	UK	2010	117,5702,541	119,121990	872	1815	6112	61	478	83 (95)11	422	362	303	120	7615	933	120	216	6423	10	991	173	541
	26	23	32	272	UCLA: Anderson	US	2012	138,2549,486	140,7126,413	9718	9120	5619	6118	295	85 (95)1	240	194	340	191	450	312	120	818	6310	00	1000	343	283
	27	24	24	251	Cornell University: Johnson	US	2012	137,53413,188	136,70711,092	1039	851	511	4625	172	89 (96)1	230	202	311	176	392	389	313	728	441	00	913	455	3611
	27	35	38	335	University of Virginia: Darden	US	2014	141,3372,651	142,131526	1046	822	605	312	61	89 (100)2	191	220	305	191	152	363	102	736	726	00	970	851	481
	29	31	37	32	University of Hong Kong	China	2013	111,9282,191	113,0381,081	1095	462	3423	437	639	88 (74)16	744	275	481	3313	399	662	6727	256	42	10	943	501	654
	30	26	11	226	Indian Institute of Management, Ahmedabad	India	2011	155,09516,093	157,45913,729	8624	4410	21	847	221	87 (100)8	143	141	136	183	10	76	99	343	6615	00	980	631	973
	31	39	42	371	SDA Bocconi	Italy	2014	114,5121,630	112,901228	1121	241	6215	4919	4219	84 (88)9	623	360	302	312	272	711	692	280	125	00	890	231	715
	32	36	23	303	National University of Singapore Business School	Singapore	2012	91,5833,159	91,3582,982	1475	3718	670	513	787	93 (93)1	450	342	2510	140	573	901	290	104	1912	00	890	708	5411
	33	45	56	459	University of North Carolina: Kenan-Flagler	US	2011	124,3991,170	124,6691,665	1013	6615	5236	569	3713	91 (94)7	261	263	272	163	352	2910	305	780	451	00	892	373	109
	34	43	35	373	Carnegie Mellon: Tepper	US	2014	129,1271,637	129,2961,998	982	872	6420	185	74	90 (100)0	253	191	216	121	401	433	1812	7612	8711	00	950	325	425
	35	37	45	393	Rice University: Jones	US	2014	117,5175,271	118,4734,359	12014	7817	7211	2210	132	94 (100)0	521	273	378	191	293	323	04	801	961	00	930	n/a0	3310
	36	34	20	308	Indian School of Business	India	2011	115,9507,144	117,3086,162	13022	3019	264	763	6512	82 (100)18	221	200	253	60	203	21	590	526	793	00	1000	n/a0	6510
	36	40	43	400	Georgetown University: McDonough	US	2010	124,3505,829	124,9905,686	987	894	554	2530	309	88 (97)1	372	294	303	152	323	444	125	825	577	00	1000	n/a0	334
	38	32	34	352	Nanyang Business School	Singapore	2011	94,7367,947	96,2026,481	11220	125	4012	891	714	84 (98)8	652	350	358	210	650	860	580	222	343	01	960	612	654
	39	33	30	341	Rotterdam School of Management, Erasmus University	Netherlands	2011	97,4707,618	98,7716,775	949	263	4511	7350	8917	82 (99)1	595	181	330	290	424	943	293	117	7613	10	1000	3314	283
	39	46	51	454	University of Texas at Austin: McCombs	US	2010	127,464632	129,225514	892	7112	4917	640	283	93 (97)0	201	261	265	120	313	206	20	909	5025	00	872	161	135
	41	40	38	403	City University: Cass	UK	2012	109,7687,427	110,2606,935	769	363	62	555	5818	74 (92)16	713	294	3611	385	703	848	464	293	6114	00	962	423	5412
	41	49	40	431	Emory University: Goizueta	US	2010	120,8633,154	122,4682,450	1031	727	659	927	258	96 (100)0	363	231	240	245	192	435	22	683	541	00	922	661	366
	43	29	31	344	Manchester Business School	UK	2010	109,0907,304	106,5358,234	9615	535	4110	3532	8826	79 (84)9	484	311	323	230	361	882	150	174	227	00	882	32	884
	44	44	57	481	University of Illinois at Urbana-Champaign	US	2010	111,6863,807	112,4823,011	1112	499	667	7762	8512	85 (92)1	774	221	322	194	160	520	20	7016	4943	00	982	315	366
	45	51	66	54	Sungkyunkwan University GSB	South Korea	2013	111,1344,270	110,8283,964	860	4015	282	1023	35	87 (98)13	941	1514	330	290	5512	382	790	4310	148	11	1000	n/a0	8010
	46	38	36	404	Cranfield School of Management	UK	2013	117,8225,678	120,9416,970	7513	222	4332	6232	6933	88 (87)5	410	284	248	192	493	811	313	138	5515	10	932	419	954
	47	54	46	499	Indiana University: Kelley	US	2012	111,391140	112,353579	1165	575	922	4111	101	90 (94)1	310	224	255	214	260	362	41	866	6811	00	814	584	1712
	48	54	81	612	University of California at Irvine: Merage	US	2011	106,924658	106,764818	1004	6310	990	6814	609	89 (100)5	804	477	394	190	314	565	50	590	710	00	951	546	285
	49	42	46	464	Imperial College Business School	UK	2013	104,2082,824	103,6043,428	6816	4217	96	204	751	84 (94)0	560	302	299	380	863	6522	500	322	814	00	964	468	403
	50	50	58	534	University of Maryland: Smith	US	2010	106,4326,120	107,2365,316	931	691	716	8826	5416	90 (99)2	698	312	3710	176	351	3015	914	748	8915	00	981	116	249
	51	46	44	472	University of Toronto: Rotman	Canada	2010	89,1448,588	90,3047,348	856	612	9711	652	943	76 (100)6	292	241	292	410	731	491	530	392	5810	00	980	62	90
	52	61	-	-	The Lisbon MBA	Portugal	2014	123,0629,544	123,0629,544	822	24	3816	8210	904	68 (97)9	963	356	221	330	254	243	00	2616	30	00	914	822	954
	52	62	77	64	Michigan State University: Broad	US	2014	107,025428	107,808355	1064	566	8013	4513	42	93 (100)4	546	330	3012	301	200	373	51	719	943	00	900	681	420
	54	-	72	-	University of Minnesota: Carlson	US	2014	110,390	110,390	95	70	35	13	46	84 (91)	76	30	31	28	24	28	6	66	84	0	82	48	12
	55	59	49	541	University of Rochester: Simon	US	2011	107,8706,442	110,6073,705	1152	762	824	704	395	91 (87)1	834	181	318	113	251	6310	141	621	862	00	871	694	4212
	56	68	59	616	Purdue University: Krannert	US	2010	106,2661,904	106,3201,958	1094	3132	856	867	590	91 (99)8	604	262	223	1811	2821	4522	243	5613	4811	00	910	3914	547
	57	66	54	59	Peking University: Guanghua	China	2013	83,1326,088	81,9144,870	15112	354	3015	8512	1214	98 (94)2	661	231	3512	51	133	2612	8214	926	3721	10	923	180	801
	58	78	73	709	University of Washington: Foster	US	2010	106,5552,344	106,6322,267	9611	5413	906	7112	346	96 (100)1	728	301	349	240	190	429	111	8912	8018	00	912	301	249
	59	53	61	583	Vanderbilt University: Owen	US	2014	117,0712,810	117,4841,694	926	8010	5714	2316	332	93 (96)6	496	177	314	93	215	230	63	973	7813	00	1000	833	425
	59	74	54	621	University of Cape Town GSB	South Africa	2013	141,6754,314	140,0692,708	790	119	138	9235	994	71 (97)5	871	303	1817	201	4913	3711	4415	461	2663	00	739	861	973
	61	57	65	610	Hult International Business School	US / UK / UAE / China	2010	104,5769,077	105,8446,676	912	394	333	527	931	85 (90)5	913	283	322	200	732	952	800	122	25	00	642	n/a0	972
	62	48	41	509	Australian Graduate School of Management (AGSM)	Australia	2011	109,4628,588	111,2806,770	729	3310	7952	1123	801	69 (78)20	648	164	276	161	502	801	241	715	252	00	914	750	6510
	62	77	49	631	Pennsylvania State University: Smeal	US	2012	105,3246,035	105,9885,371	11711	522	706	9725	4424	75 (100)5	531	220	359	181	220	429	00	535	907	00	820	432	409
	64	54	61	60	Washington University: Olin	US	2010	106,7982,330	107,5561,563	961	7513	9817	746	484	96 (97)0	750	172	277	120	457	385	20	8520	749	00	972	794	172
	65	82	61	690	University of Southern California: Marshall	US	2010	121,0382,814	122,3082,057	844	961	732	284	1611	80 (91)3	441	271	300	101	322	289	72	912	835	00	833	498	281
	66	69	-	-	Mannheim Business School	Germany	2014	97,962300	97,962300	737	72	8830	6919	7013	96 (94)2	811	262	3813	200	102	800	200	203	217	00	1000	226	654
	66	52	59	596	York University: Schulich	Canada	2014	86,8215,936	89,3323,875	8811	2712	896	936	963	88 (93)1	404	301	307	200	641	770	551	350	1614	00	990	716	334
	68	-	-	-	Indian Institute of Management, Bangalore	India	-	125,249	125,249	81	50	3	96	98	96 (97)	21	20	11	6	6	0	0	44	66	0	100	47	93
	68	62	46	595	Melbourne Business School	Australia	2011	100,8886,138	102,0684,819	684	1612	9635	4030	971	88 (95)0	6110	279	2713	200	6021	819	2714	164	1016	00	946	7214	5412
	70	72	66	691	Ohio State University: Fisher	US	2010	102,453611	102,899165	996	648	8413	5718	4028	92 (97)4	585	281	300	163	287	313	40	696	3811	00	830	605	174
	71	59	74	689	Georgia Institute of Technology: Scheller	US	2012	107,1064,577	108,0333,650	9311	6014	7823	3212	51	96 (100)2	571	220	316	63	351	291	20	871	955	00	851	7316	285
	72	57	82	703	University of British Columbia: Sauder	Canada	2011	89,1351,762	88,8811,952	815	2916	582	7915	832	66 (100)24	701	221	2412	2110	793	674	215	336	4112	00	980	3817	249
	73	87	-	-	University of Strathclyde Business School	UK	2010	94,41214,189	95,71612,885	814	418	218	7227	5642	94 (61)3	972	361	4414	350	331	10017	350	191	423	00	793	5715	831
	74	64	-	-	Tilburg University, TiasNimbas	Netherlands	2012	89,8484,011	89,8484,011	846	133	9129	941	1000	76 (94)11	1002	214	500	178	471	1003	012	1811	2456	00	943	1410	7116
	75	69	51	6510	Texas A & M University: Mays	US	2014	108,3332,432	108,6992,066	999	192	868	5830	8234	90 (100)4	555	399	293	1113	161	296	66	776	917	00	792	6210	427
	75	95	77	822	Boston University School of Management	US	2013	107,938594	108,256218	933	772	4431	606	738	90 (92)3	391	300	351	81	353	372	6226	795	9214	00	822	801	514
	77	-	-	-	Shanghai Jiao Tong University: Antai	China	2014	84,890	84,890	166	32	53	100	62	100 (96)	93	29	32	11	3	7	37	99	20	1	90	5	88
	77	71	71	7312	Lancaster University Management School	UK	2013	88,7777,303	89,0097,071	865	51	506	2416	5230	61 (98)21	791	281	4718	255	456	8812	312	307	658	00	883	197	838
	79	66	51	65	Coppead	Brazil	2013	85,58811,033	88,2568,365	1383	10	958	275	518	27 (100)15	901	420	402	308	192	276	4015	982	131	10	1000	842	973
	80	-	83	-	University of Pittsburgh: Katz	US	2009	86,444	86,410	132	47	76	80	72	87 (97)	94	28	31	10	17	43	3	49	100	0	91	53	54
	81	91	74	826	Wisconsin School of Business	US	2014	111,0371,159	110,338460	1044	457	1000	267	180	89 (100)3	631	2313	332	213	222	1420	44	941	752	00	811	6711	651
	82	93	69	812	Boston College: Carroll	US	2014	109,7851,266	109,6141,437	872	6210	688	397	679	81 (94)8	504	361	311	80	202	312	30	847	930	00	861	5511	367
	83	89	-	-	Fudan University School of Management	China	2014	76,1404,014	76,1404,014	1638	2117	5913	991	431	99 (100)1	8613	302	486	44	72	171	4134	1000	3312	10	941	133	886
	84	72	-	-	University of Bath School of Management	UK	2014	92,6767,240	92,6767,240	556	4126	173	950	6423	91 (85)4	993	361	533	314	606	882	126	381	7737	00	990	2918	541
	84	95	-	-	University of California, San Diego: Rady	US	-	98,258298	98,258298	773	793	2510	7511	3628	83 (100)12	824	298	2812	201	548	3923	235	883	981	00	963	n/a0	172
	84	76	61	749	McGill University: Desautels	Canada	2014	90,331109	89,604836	818	5518	7411	6710	817	75 (95)20	431	343	3513	176	741	7710	272	360	292	00	914	6516	481
	87	87	-	-	Arizona State University: Carey	US	2010	100,203407	100,203407	945	587	9325	441	207	91 (100)2	512	251	294	59	263	3210	00	6012	990	00	870	266	420
	88	82	93	88	University of St Gallen	Switzerland	2013	103,1312,317	102,1581,344	654	95	5419	4737	666	89 (88)11	686	100	306	5010	792	952	5010	35	3030	10	722	788	822
	89	-	-	-	ESMT - European School of Management and Technology	Germany	-	89,172	89,172	60	6	77	90	50	85 (100)	88	27	40	30	82	89	10	23	59	0	100	n/a	63
	89	78	68	7814	Western University: Ivey	Canada	2013	97,0764,988	99,0724,040	7112	432	757	818	380	83 (97)0	355	264	263	151	643	367	291	516	627	00	991	5116	4811
	91	64	86	804	University College Dublin: Smurfit	Ireland	2012	103,9296,170	105,3844,715	636	142	327	9820	845	93 (92)2	981	260	1917	180	501	565	540	376	851	00	1000	528	748
	92	81	-	-	Tulane University: Freeman	US	2011	97,96211,372	97,96211,372	11115	734	690	8327	9529	88 (81)4	781	361	341	111	343	5320	270	839	7019	00	8717	815	745
	93	-	98	-	Brigham Young University: Marriott	US	2008	107,997	108,549	108	25	83	37	57	95 (100)	46	8	21	7	2	16	8	93	88	0	90	n/a	71
	94	-	80	-	Wake Forest University: Babcock	US	2010	103,696	103,696	120	59	94	29	49	88 (100)	73	25	25	15	6	12	10	95	73	0	92	n/a	83
	95	92	-	-	EMLyon Business School	France	2009	93,3561,038	93,3561,038	621	1511	3715	787	771	83 (88)3	855	341	6233	110	520	882	890	4112	1114	00	990	740	830
	95	80	100	924	Babson College: Olin	US	2013	109,1188,804	108,6947,518	8513	673	163	4813	872	82 (88)6	301	290	345	150	174	670	120	5711	693	00	832	n/a0	884
	97	-	94	-	Durham University Business School	UK	2012	87,350	86,887	55	23	22	91	86	89 (93)	92	39	52	44	61	82	39	27	43	1	96	28	93
	98	-	-	-	University of California, Davis	US	2011	96,864	96,864	68	81	81	87	76	95 (98)	84	41	39	32	31	45	7	96	97	0	100	n/a	13
	99	84	79	87	George Washington University	US	2011	98,7861,814	98,3742,226	8318	680	8723	362	5330	85 (85)0	670	301	375	131	3311	4510	82	751	565	00	980	596	745
	100	84	70	8515	Vlerick Business School	Belgium	2011	89,2135,616	90,8313,998	6611	1712	4822	3827	920	65 (97)1	898	272	422	133	251	817	8020	94	284	10	905	774	831
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Table notesAlthough the headline ranking figures show the changes in the survey year to year, the pattern of clustering among the schools is also significant. A total of 195 points separate the top school from the school at number 100 in the ranking. The top 12 schools, from Harvard Business School to IMD, form the leading group of world-class business schools and are separated by 80 points. The second group is topped by IE Business School, which scored 60 points more than Nanyang Business School, leader of the third group. The fourth group, which includes schools ranked from 84th to 100th, is headed by McGill University: Desautels.

Footnotes

1. Indicates the most recent year that KPMG audited a business school, applying specified audit procedures relating to selected data provided for the Financial Times MBA ranking.
KPMG reported on the results of obtaining evidence and applying specified audit procedures relating to selected survey data provided for the Financial Times 2014 MBA ranking for selected business schools. Enquiries about the assurance process can be made by contacting Michelle Podhy of KPMG at mpodhy@kpmg.ca. The specified audit procedures were carried out between November and December 2013. The audit date published denotes the survey for which the specified audit precedures were conducted.

2. The average alumni salary three years after graduation, US$ PPP equivalent. (The 2014 ranking surveyed the MBA class that graduated in 2010). Includes data for the current year and the one or two preceding years where available. This figure is not used in the ranking.

3. The average alumnus salary three years after graduation, US$ PPP equivalent, with adjustment for variations between sectors. Includes data for the current year and the one or two preceding years where available.

4. The average difference in alumnus salary before the MBA to now. Half of this figure is calculated according to the absolute salary increase, and half according to the percentage increase relative to pre-MBA salary – the “salary percentage increase” figure published in the table.

5. This is calculated using the salary earned by alumni today, course length, fees and other costs, including the opportunity cost of not working for the duration of the course.

6. This is calculated according to changes in the level of seniority and the size of company alumni are working in now, versus before their MBA. Includes data for the current year and the one or two preceding years where available.

7. The extent to which alumni fulfilled their stated goals or reasons for doing an MBA. Includes data for the current year and the one or two preceding years where available.

8. The effectiveness of the school careers service in supporting student recruitment, as rated by their alumni. Includes data for the current year and one or two preceding years where available.

9. The percentage of the most recent graduating class that had found employment or accepted a job offer within three months of graduation. The figure in brackets is the percentage of the class for which the school was able to provide employment data.

10. This is calculated according to selection by alumni of three schools from which they would recruit MBA graduates. Includes data for the current year and one or two preceding years where available.

11. Percentage of female faculty. For gender-related criteria, schools with a 50:50 (male/female) composition receive the highest score.

12. Percentage of female students on the full-time MBA. For gender-related criteria, schools with a 50:50 (male/female) composition receive the highest score.

13. Percentage of female members on the school's advisory board For gender-related criteria, schools with a 50:50 (male/female) composition receive the highest score.

14. This is calculated according to the diversity of faculty by citizenship and the percentage whose citizenship differs from their country of employment – the figure published in the table.

15. This is calculated according to the diversity of current MBA students by citizenship and the percentage whose citizenship differs from the country in which they study – the figure published in the table.

16. Percentage of the board whose citizenship differs from the country in which the business school is based.

17. This is calculated according to whether alumni worked in different countries pre-MBA, on graduation and three years after graduation.

18. This is calculated according to whether the most recent graduating MBA class completed exchanges, research projects, study tours and company internships in countries other than where the school is based.

19. Number of extra languages required on completion of the MBA. Where a proportion of students requires a further language due to an additional diploma, that figure is included in the calculations but not presented in the final table.

20. Percentage of full-time faculty with a doctoral degree.

21. This is calculated according to the number of doctoral graduates from each business school during the past three years. Additional points are awarded if these doctoral graduates took up faculty positions at one of the top 50 full-time MBA schools of 2013.

22. This is calculated according to the number of articles published by a school’s current full-time faculty members in 45 selected academic and practitioner journals between January 2011 and October 2013. The rank combines the absolute number of publications with the number weighted relative to the faculty’s size.

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