The University of St Gallen in Switzerland continues its long-standing dominance as the leading masters in management degree in the 2025 FT ranking, while a majority of UK business schools dropped places in the table.

Among the top ranking tier of eight business schools, three are based in France — HEC Paris, Insead and ESCP. The other European entrant — Nova School of Business and Economics in Portugal — completes the elite group alongside three Chinese schools: Tongji University School of Economics and Management, Tsinghua University School of Economics and Management and Shanghai Jiao Tong University: Antai.

But London Business School dropped from sixth last year to joint 10th place, falling into the second tier of the top 100 schools. Of the other eight participating UK institutions, the highest was Warwick Business School, down from 33rd to 40th place, while University of Edinburgh Business School, Cranfield School of Management and Alliance Manchester Business School all fell in the ranking.