FT Executive MBA Rankings 2026: ISB climbs to 38th, IIM Bangalore rises to 64th

The Indian School of Business (ISB) and the Indian Institute of Management Bangalore (IIM Bangalore) improved their positions in the Financial Times Executive MBA Rankings 2026, with ISB climbing 15 places to 38th and IIM Bangalore rising eight places to 64th.

ISB's Post Graduate Programme in Management for Senior Executives (PGPMAX) reported an average alumni salary of $420,715 three years after program completion, adjusted for purchasing power parity (PPP).

IIM Bangalore's two-year part-time MBA program recorded an average alumni salary of $285,934 over the same period.

Globally, the Kellogg-HKUST Executive MBA (EMBA) program secured the first position, advancing from fourth place in 2025.

Jointly offered by the Kellogg School of Management at Northwestern University and the Hong Kong University of Science and Technology (HKUST) Business School, the program reported an average alumni salary of $607,684.

The Financial Times ranking evaluates executive MBA programs across institutions worldwide. Its salary figures represent average alumni earnings three years after program completion and are adjusted for differences in purchasing power across countries.

Indian business schools improve their global rankings

ISB recorded the larger improvement among the two Indian institutions, moving from 53rd place in 2025 to 38th in 2026. Its 15-position rise makes it the highest-ranked Indian institution among the two listed in the ranking.

The PGPMAX is designed for experienced professionals and senior executives seeking advanced management education while continuing to build their careers.

Its reported average alumni salary of $420,715 exceeds the corresponding figures for several institutions in the global top 10, including SKEMA Business School at $361,941, ESCP Business School at $341,326 and the University of Cambridge's Judge Business School at $408,540. However, it remains below IESE Business School's $431,065.

IIM Bangalore also improved its position, moving from 72nd in 2025 to 64th in 2026. Its two-year part-time MBA program reported an average alumni salary of $285,934 three years after completion, adjusted for PPP.

The program caters to working professionals seeking management education while continuing their careers. Although IIM Bangalore's eight-place improvement was smaller than ISB's gain, both Indian institutions advanced in the latest ranking.

The salary figures should be interpreted as purchasing-power-adjusted averages rather than guaranteed earnings or direct conversions into Indian rupees. They do not establish how much an individual graduate's salary increased after completing a program.

Indian institutes in the Financial Times EMBA Rankings 2026

2026 rank	Institution	Program	Average alumni salary	2025 rank
38	Indian School of Business (ISB)	PGPMAX	$420,715	53
64	Indian Institute of Management Bangalore (IIMB)	Two-year part-time MBA	$285,934	72

Kellogg-HKUST tops the global executive MBA rankings

The Kellogg-HKUST EMBA program secured the top position in the 2026 ranking, moving up from fourth place in the previous year. CEIBS retained second place, while IESE Business School climbed 11 positions from 14th to third.

SKEMA Business School rose one position to fourth, while ESCP Business School slipped from third to fifth.

The top five programs reported average alumni salaries ranging from $341,326 at ESCP to $607,684 at Kellogg-HKUST.

2026 rank	Business school	Location	Program	Average alumni salary
1	Kellogg-HKUST Business School	Hong Kong	Kellogg-HKUST EMBA	$607,684
2	China Europe International Business School (CEIBS)	China, Switzerland, Ghana	CEIBS Global EMBA	$567,019
3	IESE Business School	Spain, US, Germany, Brazil	Global EMBA	$431,065
4	SKEMA Business School	France, US, China, Brazil, UAE	Global EMBA	$361,941
5	ESCP Business School	France, UK, Germany, Italy, Spain, Lebanon, UAE	EMBA	$341,326

IESE, National University of Singapore record major gains

IESE Business School advanced 11 places to third, while the National University of Singapore Business School rose 14 positions to ninth. Cambridge Judge Business School climbed 10 places to 10th, and Guanghua-Kellogg advanced four positions to sixth.

Washington University's Olin Business School, whose WashU-Fudan EMBA topped the 2025 ranking, dropped seven places to eighth. However, its reported average alumni salary of $649,429 was the highest among the 10 programs listed, exceeding Kellogg-HKUST's figure by $41,745.

This illustrates that the Financial Times ranking does not depend on average alumni salary alone. Overall positions reflect a broader set of evaluation criteria, while salary figures represent one specific measure of alumni outcomes.

Global Executive MBA Rankings 2026: Positions 1 to 25

The upper section of the global ranking includes business schools across Asia, Europe and North America, including institutions that offer programs through international partnerships.

Rank	Business school	Location	Average alumni salary
1	Kellogg-HKUST Business School	Hong Kong	$607,684
2	China Europe International Business School (CEIBS)	China, Switzerland, Ghana	$567,019
3	IESE Business School	Spain, US, Germany, Brazil	$431,065
4	SKEMA Business School	France, US, China, Brazil, UAE	$361,941
5	ESCP Business School	France, UK, Germany, Italy, Spain, Lebanon, UAE	$341,326
6	Guanghua-Kellogg	China, US	$588,889
7	EMBA-Global: Columbia/LBS	US, UK	$353,076
8	Washington University: Olin	China	$649,429
9	National University of Singapore Business School	Singapore	$542,224
10	University of Cambridge: Judge	UK	$408,540
11	Arizona State University: W. P. Carey	China	$535,358
12	Insead	France, Singapore, UAE	$374,537
13	HEC Paris	France, Qatar	$392,822
13	IE Business School	Spain	$447,420
15	Trium: HEC Paris/LSE/NYU Stern	France, UK, US	$449,088
16	University of Oxford: Saïd	UK	$445,402
17	Fudan University School of Management	China	$574,665
18	CUHK Business School	Hong Kong	$355,103
19	MIT Sloan School of Management	US	$434,702
20	London Business School	UK, UAE	$379,379
21	ESSEC Business School/Mannheim Business School	France, Germany, Singapore	$305,575
22	ESSEC Business School	France, Singapore, Morocco	$302,259
23	University of Pennsylvania: Wharton	US	$358,876
24	HKU Business School	China	$338,216
25	NEOMA Business School	France, China	$201,174

Global Executive MBA Rankings 2026: Positions 26 to 50

Rank	Business school	Location	Average alumni salary
26	EDHEC Business School	France	$230,302
27	Northwestern University, Kellogg School of Management	US	$344,378
28	Yale School of Management	US	$276,082
29	University of St. Gallen	Switzerland	$295,364
30	KEDGE Business School	France, China	$225,086
31	BI Norwegian Business School/Fudan University School of Management	China	$326,789
32	Henley Business School	UK, Finland, South Africa	$212,289
33	Cornell University: Johnson	US	$266,906
34	Kellogg/WHU Beisheim	Germany	$269,887
35	IMD, International Institute for Management Development	Switzerland	$295,212
36	emlyon business school	France, China, Morocco	$271,298
37	Columbia Business School	US	$274,356
38	Indian School of Business	India	$420,715
39	Warwick Business School	UK	$205,111
40	SDA Bocconi School of Management	Italy	$272,154
41	Vlerick Business School	Belgium	$226,100
42	Stockholm School of Economics	Sweden	$199,629
43	UCLA Anderson School of Management	US	$272,834
44	Bayes Business School	UK	$243,284
45	ESMT Berlin	Germany	$241,458
46	Singapore Management University: Lee Kong Chian	Singapore	$312,020
47	University of Michigan: Ross	US	$328,535
48	Georgetown University: McDonough	US	$240,666
49	Duke University: Fuqua	US	$241,717
50	Frankfurt School of Finance and Management	Germany	$221,688

Global Executive MBA Rankings 2026: Positions 51 to 75

Rank	Business school	Location	Average alumni salary
51	University of Zurich	Switzerland	$223,600
52	Rotterdam School of Management, Erasmus University	Netherlands	$186,640
53	Kellogg/York University: Schulich	Canada	$217,635
54	Mannheim Business School	Germany	$256,272
55	Iscte Business School	Portugal, UK, Spain	$254,430
56	Yonsei University School of Business	South Korea	$378,108
57	Western University: Ivey	Canada	$194,822
58	University of Toronto: Rotman	Canada	$195,629
59	Peking University: HSBC	China	$416,080
60	New York University: Stern	US	$255,470
61	Antwerp Management School	Belgium	$273,660
62	Texas A&M University: Mays	US	$253,972
63	Kozminski University	Poland	$243,231
64	Indian Institute of Management Bangalore	India	$285,934
65	University of Texas at Austin: McCombs	US	$270,958
66	Trinity College Dublin, Trinity Business School	Ireland	$187,678
67	Audencia	France, Algeria, Morocco, China	$150,480
68	Rennes School of Business	France, China	$137,224
69	Queen's University: Smith	Canada	$166,051
70	Sabanci Business School	Turkey	$337,562
71	The Lisbon MBA Catolica/Nova	Portugal	$196,714
72	Aalto University	Finland	$185,900
73	Emory University: Goizueta	US	$248,762
74	HEC Lausanne, University of Lausanne	Switzerland	$195,738
75	Korea University Business School	South Korea	$304,125

Global Executive MBA Rankings 2026: Positions 76 to 100

Rank	Business school	Location	Average alumni salary
76	Hult International Business School	UK, UAE	$186,517
76	University College Dublin: Smurfit	Ireland	$187,159
78	University of Southern California: Marshall	US	$225,625
79	National Sun Yat-sen University	Taiwan	$296,564
79	KFUPM Business School	Saudi Arabia	$315,771
81	INCAE Business School	Costa Rica, Panama	$202,124
82	University of Tennessee: Haslam College of Business	US	$247,139
82	University of Porto, FEP/PBS	Portugal	$161,815
84	University of Utah: David Eccles	US	$201,787
84	Georgia Institute of Technology: Scheller	US	$207,156
86	Cranfield School of Management	UK	$169,800
87	Copenhagen Business School	Denmark	$209,848
88	Solvay Brussels School of Economics and Management	Belgium	$166,008
89	Koç University Graduate School of Business	Turkey	$321,140
89	Polimi School of Management	Italy	$192,252
91	University of California at Irvine: Merage	US	$215,167
91	Melbourne Business School	Australia	$166,739
91	Tias Business School, Tilburg University	Netherlands	$183,947
94	Rice University: Jones	US	$276,500
95	University of Cape Town Graduate School of Business	South Africa	$244,062
96	Michigan State University: Broad	US	$186,441
96	Maastricht University, School of Business and Economics	Netherlands	$158,819
98	Rutgers Business School	US	$256,602
99	NHH Norwegian School of Economics	Norway	$154,845
100	EADA Business School Barcelona	Spain	$133,367

What the salary figures mean for prospective students

The Financial Times uses average alumni salaries three years after program completion, adjusted for purchasing power parity, to facilitate comparisons across countries with different costs of living and purchasing power.

These figures are not direct conversions into Indian rupees, nor do they guarantee what an individual graduate will earn.

They also do not establish the salary increase attributable to completing an executive MBA because the reported averages do not, by themselves, compare graduates' earnings before and after enrollment.

For Indian applicants comparing ISB and IIM Bangalore with international programs, the rankings provide information about global standing and reported alumni earnings.

Prospective students should also consider program fees, opportunity costs, career objectives, employer support, professional networks, location and curriculum relevance.

ISB's 15-place improvement and IIM Bangalore's eight-place rise are notable developments in the 2026 ranking. Kellogg-HKUST's move to the top position, meanwhile, underscores the competition among international executive MBA providers.

The results offer prospective students a comparative reference point for evaluating executive management programs, but overall rank and average alumni salary should be considered alongside individual career goals and the broader value of the qualification.