French business schools continue to lead the Financial Times Master in Finance Ranking, with ESCP Business School maintaining first position for a third consecutive year
French schools continue to dominate the top of the Financial Times Master in Finance list, with Skema Business School, ESSEC Business School, and HEC Paris securing second, fourth, and fifth positions, respectively.
Other notable achievements in this year’s ranking include Nova School of Business and Economics rising from seventh to sixth—the only Portuguese school in the top 20. Business schools in China also claim three spots in the top ten, led by Tsinghua University School of Economics and Management (third), Shanghai Advanced Institute of Finance at SJTU (seventh), and Peking University: Guanghua School of Economics and management (10th).
Financial Times Master in Finance Ranking: Top five explained
This year’s Financial Times Ranking lists 70 accredited schools, using data provided by institutions and their alumni. The results are weighted across 19 categories, including salary, job progression, and career services. The results are notable when observing that aspiring business school students have considered the Master in Finance degree as a desirable study option more than any other program over the last decade, according to the 2025 GMAC Prospective Student Survey.
ESCP’s first-place position is driven by a strong performance across multiple categories. For the second consecutive year, the school ranked first for its alumni network; it also scored highly for career services. Furthermore, 97% of ESCP graduate respondents reported achieving their goals within three years of graduation—a 1% increase from last year and the highest figure among those surveyed.
Skema, which moved from third to second place, was one of only two schools in the entire list to report gender parity—an equal split between male and female students. It also performed strongly in the “women on board” category, achieving parity alongside ESCP and ESSEC Business School.
Tsinghua University School of Economics and Management ranked highest for salaries earned after graduation—the most heavily weighted category (16%)—with an average graduate salary of over $225,000 three years after graduation. This was helped by Tsinghua students earning an average salary increase of 86% between pre and post-study. Tsinghua also ranked first for value for money.
In the carbon footprint ranking — introduced in 2023 to place greater emphasis on environmental performance — HEC Paris emerged as the most eco-conscious school within the top five, placing 11th overall.
The top five schools all achieved between 90% and 100% student employment within three months after graduation.
Financial Times Master in Finance Ranking: European schools dominate
Led by ESCP in first place, European schools dominate the 2025 Financial Times Master’s in Finance Ranking, claiming 17 of the top 20 spots. Among these, France takes the largest share, with five schools featured.
Outside of France, notable institutions include the UK’s London Business School (8), Belgium’s Vlerick Business School (14), and Luiss Business School (20) based in Italy.
China distinguishes itself as the region with the greatest number of top-ranked finance degrees outside of Europe, with schools securing three places in the top 10.
Chinese students also report the highest post-graduation salaries, ranging from over $225,000 to $209,000—evidence of the significant financial outcomes that are possible for graduates in the region.
Other notable entries within the 2025 FT Ranking include the International University of Monaco, which was unranked in 2024 but entered at 17th this year. Several other European newcomers also joined the list, including Audencia (40), the University of Bath School of Management (45), and Durham University Business School (58).
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