Ranking: Financial Times’ World Best Executive MBA Programs Of 2023

The Lee Shau Kee Business Building, at the Hong Kong University of Science and Technology’s campus, which overlooks Clear Water Bay in the New Territories. The building is home to the Kellogg-HKUST EMBA, ranked No. 1 by the Financial Times two years in a row. Courtesy photo

Europe and China dominated the top of the Financial Times’ latest ranking of the world’s Executive MBA programs, snagging the top 10 spots. You have to go all the way to No. 10 to find a stand-alone U.S. based program: Yale School of Management’s EMBA program tied with Iese Business School to crack the top tier of the ranking.

Kellogg-HKUST’s pioneering EMBA topped the ranking for the second straight year. In fact, the program – a partnership between Kellogg School of Management at Northwestern University and Hong Kong University of Science and Technology (HKUST) Business School – has topped the ranking 11 times. It celebrates its 25th anniversary this year.

China Europe International Business School (CEIBS)’ EMBA based in China, Switzerland, and Ghana also matched last year’s result, finishing both years at No. 2.

ESCP Business School rose two spots to No. 3. The school – with campuses in Berlin, London, Madrid, Paris, Turin and Warsaw – is the top ranked European school and holds the highest position in every country where its campuses are located. It scored the highest in international course experience and fourth for career progression, a metric measuring alumni change level of seniority and organization size after completing the program. It also ranked second for Environmental, Social and Governance (ESG) and net Zero teaching.

“Many of our alumni have transitioned into pivotal sustainability roles or embarked on startups dedicated to sustainability-related ventures after completing our EMBA. This transformation and the results of this ranking underscore the profound influence our programme has on shaping leaders who create value for companies and society, taking into account issues of sustainability, and with a strong commitment to having a positive impact on the world,” says Francesco Venuti, Dean of the EMBA at ESCP.

See the top 10 EMBA programs in the table below.

Top 10 Global EMBA Programs for 2023

2023 Rank School Location 2022 Rank YOY Change
1 Kellogg/HKUST Business School Hong Kong 1 0
2 Ceibs China/Switzerland/Ghana 2 0
3 ESCP Business School France/Germany/UK/Italy/Spain/Poland 5 2
4 Trium: HEC Paris/LSE/NYU: Stern France/US/UK 6 2
5 University of Oxford: Saïd UK 15 10
6 IE Business School Spain 12 6
7 HEC Paris France/Qatar 4 -3
8 Fudan University School of Management China 12 4
9 London Business School UK/UAE 19 10
10 Iese Business School Spain/US/Germany/Brazil 10 0
10 Yale School of Management US 14 4

Trium Global EMBA – a partnership between three elite business schools, HEC Paris, LSE, and NYU Stern – rose two spots to No. 4.

And, University of Oxford’s Saïd Business School rose a whopping 10 points to break into the top five. It is the program’s highest rank in FT since it launched 19 years ago.

“We put a great deal of hard work into delivering a truly global, world-class programme, with a sharp focus on delivering value for our students. It is fantastic to see that recognised in these rankings,” Saïd dean Soumitra Dutta says in a school press release. “We are also fortunate to attract an impressive, global community of students, who enrich our School and bring such a unique, worldwide perspective to the course.’


If you strip out the many partnership and foreign-based Executive MBA programs from the 2023 ranking, these are the top standalone programs in the U.S., Yale School of Management has the highest ranked EMBA in the land. It rose 2 spots in the U.S. list from last year, overtaking MIT Sloan which falls to No. 2.

This summer, Yale SOM announced significant changes to its EMBA, adding a fourth focus area in general management and allowing more flexibility in choosing electives and other enrichments.

The Wharton School at University of Pennsylvania had the third highest standalone U.S. program (it ranked 18th in the world) followed by UCLA Anderson School of Management at No. 4 in the U.S. and No. 22 in the world. Northwestern’s Kellogg School of Management rounds out the top five in the U.S. while finishing No. 27 in the world.

Standalone EMBAs based in the United States dominated the overall list with 26 programs. That includes six schools not ranked last year who did participate this year. Columbia Business School, for example, was ranked No. 33 in the world and the seventh best EMBA in the U.S. after not submitting data to the FT last year. See table below.

Top U.S. Standalone EMBA Programs, FT 2023

School 2023 US Rank 2022 US Rank US YOY Change
2023 World Rank
Yale School of Management 1 3 2 10
MIT: Sloan 2 1 -1 13
University of Pennsylvania: Wharton 3 5 2 18
UCLA Anderson School of Management 4 4 0 22
Northwestern University, Kellogg School of Management 5 6 1 27
University of Michigan: Ross 6 10 4 32
Columbia Business School 7 NR NA 33
New York University: Stern 8 9 1 34
Duke University’s Fuqua School of Business 9 11 2 39
University of Texas at Austin: McCombs 10 8 -2 42
Emory University: Goizueta 11 7 -4 43
Vanderbilt University: Owen 12 NR NA 49
Georgetown University: McDonough 13 12 -1 55
Rutgers Business School 14 16 2 59
University of Maryland: Smith 15 14 -1 60
University of California at Irvine: Merage 16 NR NA 68
Texas A & M University: Mays 17 14 -3 71
University of Georgia: Terry 18 NR NA 72
University of Pittsburgh: Katz 19 NR NA 75
University of Utah: David Eccles 20 20 0 79
Georgia State University: Robinson 21 18 -3 81
Fordham University: Gabelli 22 22 0 83
Georgia Tech Scheller College of Business 23 17 -6 85
Cornell University: Johnson 24 NR NA 91
University of Tennessee: Haslam College of Business 25 21 -4 92
Michigan State University: Broad 26 19 -7 97

Georgia State University’s J. Mack Robinson College of Business ranked 21st for U.S. standalone programs and 81st in the world. But, it ranked third highest in the U.S. and seventh highest globally in overall satisfaction by alumni. The Georgia State EMBA scored 9.62 out of 10 on the metric, bested in the U.S. only by MIT Sloan School of Management (9.80) and the Wharton School of the University of Pennsylvania (9.71).

“We are gratified that our alumni remain so highly satisfied with Georgia State’s Executive MBA years after their graduation,” says Chris Hilario, EMBA program director, in a release. “We believe this metric speaks to the growth they experience during the program and their subsequent career progress, the deep level of individual engagement between students and faculty, and opportunities for continued involvement after graduation – all hallmarks of the program since its establishment in 1982.”

NEXT PAGE: World’s biggest winners and losers in the FT EMBA ranking

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