INSEAD ranked Europe’s best business school by Financial Times for second year running

France’s INSEAD has retained its number one spot within the Financial Times (FT) list of the best European business schools in 2025, placing ahead of the likes of HEC Paris and London Business School in the annually published rankings. 

INSEAD, which is headquartered in France but also has campuses in Singapore and the United Arab Emirates, landed the top spot for the first time in 2024 after achieving high scores for its previously unranked Master in Management (MiM) and Executive MBA (EMBA) programs. While the school achieved a similar feat in 2025, INSEAD’s MBA also tied for the number two position in Europe, according to the FT, further cementing its place at the top of the rankings. 

“Its performance is further supported by high average alumni salaries and strong salary growth. The highest salary is for the EMBA, at $383,613,” the FT wrote in a breakdown of its methodology.  

The French school also scored well on the metrics of faculty experience and diversity. Among the school’s full-time faculty, 98% have a doctorate, and 90% are international.  

There was little movement at the top of the overall European Business School Rankings compared to last year, with HEC Paris maintaining its second-place position after a long run at the top of the list, and London Business School retaining third. ESCP Business School, which boasts campuses in France, Germany, Italy, Poland, Spain, and the United Kingdom, surpassed IESE Business School this year to rank fourth.  

INSEAD contributed to the pattern of French schools once again dominating the rankings. Six of the 10 leading European business schools have a campus in France, including Essec Business School, Edhec Business School, and EMLyon Business School.  

What is the best MBA program in Europe?  

For the first time, in 2025, the University of Navarra’s IESE Business School rose to the top of the FT’s ranking of European MBA programs. Globally, the Spanish business school ranks third, behind the University of Pennsylvania: Wharton and Columbia Business School, both based in the US.  

IESE, which has several campuses across Spain as well as in the US and Germany, received high marks for its heavily international staff—94% of the business school’s full-time faculty are from overseas. It also ranked highly for the average salary of MBA students, at $198,584.  

INSEAD’s MBA program tied for second place alongside the SDA Bocconi School of Management in Milan, Italy.  

The MBA at London Business School, which also has a campus in the UAE, ranked fourth. The British business school also led the ranking for open-enrolment executive courses and placed second for custom executive programs. LBS also posted strong earnings results across its MBA, MiM, and EMBA programs. 

What is the best EMBA program in Europe?  

France’s ESCP Business School is the most highly ranked Executive MBA program in Europe. The FT wrote that the French school scored high on the metric of international experience based on classroom hours overseas, noting that it has campuses in Berlin, London, Madrid, Paris, Turin, and Warsaw. 

The number two EMBA program is Skema Business School, which also has campuses throughout Europe and beyond. Skema was one of 10 European schools to report that 50% of its faculty are female. 

What is the best MiM program in Europe?  

For an unprecedented 14th year in a row, Switzerland’s University of St. Gallen ranked first for within the Master's in Management Ranking, achieving this feat across both the global and European charts.  

The top-ranked MiM program, along with an improved position of its EMBA program, propelled St. Gallen to an overall European business school ranking of eighth in 2025.  

HEC Paris and INSEAD ranked second and third, respectively, for their MiM programs. The program at Nova School of Business and Economics in Portugal claimed the fourth spot. 

Which business schools ranked highly for earning potential? 

Among the top European business schools, the highest average salary earned by MBA graduates three years after completing the program was found at SDA Bocconi School of Management, at $217,241. This figure was followed closely by London Business School, with an average salary of $214,823.  

In terms of the highest increase pre- and post-MBA, Spain’s Esade Business School reported a substantial 173% salary increase for MBA graduates and IESE Business School reported a 139% increase. 

Among the top EMBA programs, Skema Business School clocked in with the highest average salary, at $394,151. This was followed closely by the University of Oxford: Saïd, at $390,436. Skema also reported a much higher-than-average salary increase of 120% for EMBA students.   

The highest average salary among MiM programs belongs to HEC Paris–$141,611–followed by St. Gallen–$139,921.  

Financial Times European Business School Rankings: Methodology 

The FT European ranking is based on each business school’s combined performance across multiple program rankings: MBA, EMBA, MiM, and non-degree executive education courses. Schools must have at least one master's program or two executive courses to qualify for the list, and online MBA rankings are not included. 

Rankings focus on both the quality and the breadth of programs that each school offers, with a stronger emphasis on high-quality education.   

The FT’s methodology factors in the average alumni salary three years after completing a program, the average difference between students’ salaries pre- and post-degree, as well as faculty diversity and academic credentials.  

This year, 39 of the European business schools reported that 100% of full-time faculty hold a doctorate.