The economy of India has demonstrated remarkable growth over the past two years, solidifying its position as a global growth leader. The country’s advancements in technology and innovation were exemplified by achievements like the Chandrayaan-3 moon mission. Additionally, India’s influence on the world stage was underscored by hosting the G20 Summit in 2023. This has attracted interest from tech giants such as Apple and Tesla, looking to expand their supplier networks and establish manufacturing facilities in India, reshaping the global business landscape.
Internally, initiatives like Shark Tank India have played a pivotal role in fostering an entrepreneurial mindset and nurturing small startups. By appealing to the entrepreneurial instincts of the youth, the program has spurred interest in higher education among students. Serving as a cultural milestone, Shark Tank India has inspired the younger generation to explore business, finance, management, and marketing as exciting and viable career paths.
The trend towards pursuing business careers has gained significant traction, with a rising number of students recognizing the opportunities within the Indian business sector. According to the Education Testing Service (ETS), which administers the Graduate Record Examination (GRE), the number of Indian students taking the exam has surpassed that of American students, establishing India as the largest GRE test market globally. This substantial 62% increase in Indian GRE test-takers underscores the growing global awareness among Indian students regarding the impact of their education on the business world.
Adapting to the dynamic business landscape, universities worldwide are continuously enhancing their programs to equip students with the skills needed for a successful career. Our team engaged with over 1,800 institutions globally, gathering insights from students, recruiters, and faculty members to compile the top 100 Global B-School Rankings. Collaborating with esteemed organizations like AMBA, EQUIS, and AACSB, as well as conducting thorough research on domestic rankings across various countries, Youth Incorporated’s Research Unit (YRU) identified the institutes that embody the evolving trends in global business and align with the ambitions of a forward-looking generation.
The Global Business School Rankings for 2024 spotlight notable institutions such as the London Business School, which ascended to the top spot after maintaining the second position for two consecutive years. Harvard University surged from third place in 2023 to secure the second rank this year. Conversely, Stanford University relinquished its top position, sliding to third place. INSEAD made significant progress, climbing two spots from sixth in 2023 to fourth in 2024. IE University broke into the top five after holding the seventh spot for two years. Columbia University, previously at fourth place for two years, dropped to sixth this year. The University of Pennsylvania demonstrated a steady rise, progressing from ninth in 2022 to seventh in 2024. IIM Ahmedabad made a remarkable leap from eleventh in 2023 to claim the eighth spot. Dartmouth College exhibited notable improvement, advancing from twenty-first in 2023 to ninth this year. Conversely, Cornell slipped from ninth in 2023 to tenth in 2024.
Examining the performance of Indian business schools, IIM Ahmedabad showcased consistent growth, securing the eighth position this year, following the eleventh spot in 2023 and fourteenth in 2022. IIM Calcutta also made strides, attaining the fifteenth position this year compared to the nineteenth in 2023. Among the top 50 institutions, apart from IIM Ahmedabad and IIM Calcutta, only the Indian School of Business retained the 38th position, down from 35th in 2023. SP Jain Institute of Management maintained its position at fifty-sixth, missing the top 50 category once again.
The rankings signal a positive trajectory for Indian business schools, indicating a potential resurgence to the top ranks in 2025.
Ranking Methodology
Institute Selection Process
After meticulous deliberations with students, recruiters, and faculty members, we identified 1840 institutes worldwide. Collaboration with esteemed bodies like AMBA, EQUIS, and AACSB, along with research on domestic rankings, aided in pinpointing the top institutions.
Surveys were distributed uniformly to all institutes, gathering insights from current students, alumni, and recruiters to assess specific institute attributes.
Key Considerations
- Recruiter Perception: Global recruiters rated institutes based on recruitment likelihood and student attributes like leadership potential.
- Student Diversity: Factors such as international student ratio and language proficiency were evaluated.
- Faculty Diversity: International faculty ratio, doctorate holders, and publishing credentials were considered.
- Program Innovation: Degree program structures and elective choices were scrutinized.
- Teaching Methodologies: Innovative teaching approaches like industry visits and interdisciplinary courses were highlighted.
- Value Proposition: Feedback on institute value and funding support for students was gathered.
- Campus Support: Student services and assistance offerings were assessed.
- Career Services: Effectiveness of career services, placement rates, and starting salaries were analyzed.
- Exchange Programs: Participation in exchange programs and presence of international students were noted.
- Student Satisfaction: Ratings on various aspects including career services and faculty attitude were collected.
Methodology Overview
Institutes completed online surveys encompassing faculty details, career services, student demographics, and other relevant factors. Current students, alumni, and recruiters were also surveyed to provide comprehensive feedback.
Recruiters worldwide received surveys to gauge their likelihood of recruiting from specific institutes and overall satisfaction levels.
Scores were calculated based on survey responses, with each factor weighted accordingly. The institute with the highest cumulative score secured the top rank.
Additional Insights
Subjective analysis was conducted post-survey to ensure data accuracy and alignment with satisfaction scores.
Institutes that failed to submit surveys were assessed using publicly available information, with validation from students, alumni, and recruiters.
Special Notes
- Masters Programs: Various specialized Master’s programs were considered, including Finance, Management, and Marketing.
- Online and Executive MBAs: Certain factors like campus support and exchange programs were adjusted for these programs.