Indian B-Schools Shine in 2023 FT Business School Rankings

In the recently released 2023 Financial Times Business School Rankings for MBA programs, Indian B-Schools have made a significant mark, with six institutions securing top positions. The standout performer among them is the Indian School of Business (ISB), which has claimed the highest spot among Indian B-Schools, ranking an impressive 39th overall. Notably, ISB also ranks 12th in the alumni network category, a testament to its strong global connections.

India’s Global Business School: ISB

The Indian School of Business (ISB) has once again demonstrated its excellence on the international stage. With an overall ranking of 39th, ISB has firmly established itself as a global leader in business education. Its 12th position in the alumni network category underscores the strength of its worldwide connections and the success of its graduates.

SPJIMR: India’s First Top-Rated Business School Globally

Bharatiya Vidya Bhavan’s S. P. Jain Institute of Management and Research (SPJIMR) has achieved a historic milestone by becoming India’s first business school to be rated globally. SPJIMR secured an impressive 40th place in the rankings, further solidifying India’s presence on the international business education map. This achievement is a testament to SPJIMR’s commitment to academic excellence and global relevance.

IIM Ahmedabad and SPJIMR in the Top 50

Two prestigious Indian management schools have notched places in the coveted top 50 of the 2023 Financial Times Business School Rankings. Following SPJIMR closely is the Indian Institute of Management (IIM) Ahmedabad, which secured the 43rd position. These rankings underscore the high-quality education and global recognition that IIM Ahmedabad and SPJIMR offer to their students.

Indian B-Schools in the Top 100

India’s strong presence in the global business education landscape continues with a total of 10 Indian institutes securing positions in the top 100 of the 2023 FT Business School Rankings. This remarkable achievement highlights the consistent growth and quality of management education in India.

The Indian management institutions that feature in the top 100 rankings include:

Institution Rank
IIM Ahmedabad 43
IIM Bangalore 52
IIM Calcutta 76
IIM Indore 89
IIM Lucknow 90
NMIMS Mumbai, School of Business Management 83
International Management Institute, New Delhi 84
XLRI-Xavier School of Management 85
Indian Institute of Management Udaipur 88
Institute of Management Technology, Ghaziabad 92
Management Development Institute Gurgaon 93

Impressive Salary Offers

One of the key metrics used to evaluate business schools is the salary offers received by their graduates. In this regard, ISB leads the way, with its students receiving a weighted salary offer of an impressive $161,331. This reflects the high demand for ISB graduates in the global job market and the value they bring to employers.

Following ISB in terms of average salary packages are:

  • Indian Institute of Management (IIM) Ahmedabad – $186,420
  • IIM Bangalore – $157,514
  • IIM Calcutta – $156,724
  • IIM Indore – $143,544
  • IIM Lucknow – $136,673

These figures underscore the competitive advantage that graduates from these esteemed institutions possess in the job market, both in India and internationally.

Global Leaders in Business Education

While Indian B-Schools have made remarkable progress in the global rankings, it’s essential to acknowledge the global leaders in business education as well. In the 2023 Financial Times Business School Rankings, the top five positions are secured by international institutions:

  1. IE Business School
  2. Warwick Business School
  3. Imperial College Business School
  4. Carnegie Mellon: Tepper
  5. University of Massachusetts Amherst: Isenberg

These institutions consistently set high standards for business education worldwide, attracting top talents and contributing significantly to the development of business leaders across the globe.


The 2023 Financial Times Business School Rankings demonstrate the growing influence and excellence of Indian B-Schools on the global stage. With ISB leading the way and several other institutions securing top positions, Indian management education has firmly established its reputation for quality and relevance. As these B-Schools continue to evolve and innovate, we can expect them to climb even higher in the global rankings, further enhancing India’s standing in the world of business education.

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