It was bad news for business schools in Britain and Belgium in the 2014 Financial Times Masters in Management (MiM) ranking, with seven out of 11 British schools and three out of four Belgian schools dropping significantly – by seven places or more. Bucking the trend was London Business School, which entered the ranking for the first time and immediately secured a position in the top 10, making it the highest-ranked UK business school.

The FT’s MiM ranking, now in its 10th year, features the top 70 management degrees for students with little or no previous work experience. St Gallen of Switzerland remains in the top slot for the fourth year running, with two Parisian business schools, HEC and Essec, ranked second and third respectively.

The FT MiM ranking is based on data collected from two surveys – one of the participating business schools and the other of their alumni who graduated three years ago (the class of 2011). The ranking is in part based on how successful alumni have been in their careers since graduation, as reflected in salary data.