WashU–Fudan EMBA Tops Financial Times 2025 Global EMBA Ranking For The First Time

The Washington University–Fudan University Executive MBA has taken the No. 1 spot in the world in the Financial Times 2025 Executive MBA ranking, climbing two places from last year to unseat CEIBS at the top. It is the first time the St. Louis-Shanghai partnership has led the global table; two years ago, it was not even ranked.

In 2024, as Poets&Quants for Execs reported, CEIBS held No. 1, ESCP was No. 2, and WashU–Fudan was No. 3. The new results reshuffle that order: WashU-Fudan moves to the top, CEIBS falls to second, and ESCP Business School’s EMBA moves to No. 3 while maintaining its position as No. 1 in Europe.

Kellogg-HKUST, No. 1 in 2023 but absent from the ranking last year, returns at No. 4.

THE FINANCIAL TIMES’S TOP 10 GLOBAL EMBAs IN 2025

Rank in 2025	School	Rank in 2024	Rank in 2023	3-year average rank	Location	Program name
1	Washington University: Olin	3	–	–	China/US	WashU-Fudan EMBA
2	CEIBS	1	2	2	China/Switzerland/Ghana	Ceibs Global EMBA
3	ESCP Business School	2	3	3	France/Germany/UK/Italy/Spain/Poland	EMBA
4	Kellogg/HKUST	–	1	–	Hong Kong	Kellogg-HKUST EMBA
5	Skema Business School	13	–	–	France/US/China/Brazil/UAE	Global EMBA
6	Trium: HEC Paris/LSE/NYU: Stern	5	4	5	France/US/UK	Trium Global EMBA
7	Insead	9	–	–	France/UAE/Singapore	Global EMBA (GEMBA)
8	Fudan University School of Management	10	8	9	China	Fudan EMBA
9	Arizona State University: Carey	7=	12	9	China/US	WP Carey/SNAI EMBA
10	Guanghua-Kellogg	12	–	–	China/US	Guanghua-Kellogg EMBA

Source: Financial Times

---

HOW THE FT RANKING WORKS

The Financial Times EMBA ranking evaluates programs on a combination of alumni outcomes and school data. Salary levels and salary increases reported by graduates account for a significant share of the score, alongside career progression. International diversity — including the proportion of international students and faculty, the breadth of alumni networks, and international course experience — is another key pillar.

The ranking of 100 EMBA programs also factors in faculty research, ESG and climate-related teaching, and gender diversity. Schools must be internationally accredited and have sufficient cohort size to be included. Data are drawn from both institutional submissions and surveys of alumni three years after graduation.

ESCP claimed No. 1 worldwide for ESG and net-zero teaching, tied for No. 1 in career progress, No. 2 in international course experience, and No. 5 in alumni network. Its program reported 95% international participants and 93% international faculty, among the highest in the world.

U.S. REPRESENTATION & GLOBAL REACH

“This remarkable performance underscores ESCP’s position as a global leader in executive education and highlights the strength of its European model and international outlook,” says Prof. Léon Laulusa, executive president and dean of ESCP Business School. Associate Dean Francesco Venuti adds: “The ESCP EMBA goes far beyond business education. It’s a transformational experience that equips participants with the strategic insight and human values needed to navigate today’s complex global challenges.”

After ESCP, the rest of the top 10 reads: Kellogg–HKUST at No. 4, Skema Business School at No. 5, INSEAD at No. 6, Fudan University School of Management at No. 7, Arizona State University: W. P. Carey at No. 8, Guanghua–Kellogg joint at No. 9, and the UCLA Anderson/National University of Singapore joint program at No. 10.

Elsewhere in the rankings, Thailand’s Sasin School of Management announced its inclusion in the Financial Times global top 100. “This achievement is a testament to the unwavering dedication of our students, faculty, staff, and alumni,” says Professor Ian Fenwick, director of Sasin. “It is immensely gratifying to see Sasin’s Executive MBA program recognized among the world’s best 100 EMBA programs, and Sasin being among the top 20 management schools in Asia.”

Across the 100 ranked schools, 31 U.S. schools or partnerships appear in the 2025 ranking of 100 programs, making the United States the most represented country on the list.

FT DATA FOR THE TOP 10 2025 PROGRAMS

Rank in 2025	School Name	Salary today	Salary increase (%)	Aims achieved (%)	Female students (%)	International students (%)	FT research rank	Environmental, social and governance (ESG) rank	Carbon footprint rank
1	Washington University: Olin	$718,662	134	68	62	12	17	73	93
2	Ceibs	$568,696	120	73	41	64	33	50	50
3	ESCP Business School	$382,156	112	75	38	95	58	1	23
4	Kellogg/HKUST Business School	$647,850	96	69	40	60	15	39	22
5	Skema Business School	$394,151	120	72	48	89	73	5	23
6	Trium: HEC Paris/LSE/NYU: Stern	$459,076	65	72	41	82	21	38	48
7	Insead	$383,613	70	75	39	88	3	16	13
8	Fudan University School of Management	$591,863	114	68	38	1	51	43	51
9	Arizona State University: WP Carey	$558,445	101	67	36	0	24	7	7
10	Guanghua-Kellogg	$492,006	89	66	57	22	28	28	49

Source: Financial Times

---

DATA HIGHLIGHTS: THE TOP THREE PROGRAMS

The Washington University-Fudan University Executive MBA, ranked No. 1 globally, reports the highest alumni salary in the world at $718,662 (PPP-adjusted) three years after graduation. Alumni also reported an extraordinary 134% salary increase over their pre-program earnings — highest of any school in the ranking. In other measures, 68% said they achieved their aims in taking the degree. The program enrolled 62% women — second in the ranking to only No. 19 HKU-Fudan, which enrolled 64% women — but only 12% international students, the latter number putting it in the bottom third of the ranking. The program placed 17th in the FT’s research rank, and stood at 73rd in ESG teaching and 93rd for carbon footprint.

CEIBS, ranked No. 2 globally, showed alumni salaries averaging $568,696, with a 120% salary increase compared to pre-EMBA levels. Alumni satisfaction is strong, with 73% reporting their aims achieved. The class is 41% female and 64% international, giving CEIBS one of the most globally diverse student bodies at the top of the list. CEIBS ranked 33rd in research, 50th in ESG, and 50th for carbon footprint.

At No. 3, ESCP Business School’s EMBA reported alumni salaries of $382,156, with a 112% increase over pre-program earnings. ESCP led on alumni satisfaction, with 75% achieving their aims, the highest among the top three schools. Its cohort is 38% female and 95% international, making it the most globally diverse program in the top tier. ESCP placed 58th in research, but ranked 1st worldwide for ESG teaching, and 23rd for carbon footprint.

See the complete FT ranking here.

THE FINANCIAL TIMES 2025 GLOBAL EMBA RANKING

Rank in 2025	School Name	Location	Program name	Salary today	Rank in 2024	Rank in 2023	3-year average rank
1	Washington University: Olin	China/US	WashU-Fudan EMBA	$718,662	3	–	–
2	Ceibs	China/Switzerland/Ghana	Ceibs Global EMBA	$568,696	1	2	2
3	ESCP Business School	France/Germany/UK/Italy/Spain/Poland	EMBA	$382,156	2	3	3
4	Kellogg/HKUST Business School	Hong Kong	Kellogg-HKUST EMBA	$647,850	–	1	–
5	Skema Business School	France/US/China/Brazil/UAE	Global EMBA	$394,151	13	–	–
6	Trium: HEC Paris/LSE/NYU: Stern	France/US/UK	Trium Global EMBA	$459,076	5	4	5
7	Insead	France/UAE/Singapore	Global EMBA (GEMBA)	$383,613	9	–	–
8	Fudan University School of Management	China	Fudan EMBA	$591,863	10	8	9
9	Arizona State University: WP Carey	China/US	WP Carey-SNAI EMBA	$558,445	7	12	9
10	Guanghua-Kellogg	China/US	Guanghua-Kellogg EMBA	$492,006	12	–	–
11	UCLA: Anderson/National University of Singapore	Singapore/US	UCLA NUS EMBA	$427,500	–	–	–
12	MIT: Sloan	US	MIT Sloan EMBA	$413,318	6	13	10
13	London Business School	UK/UAE	EMBA	$360,094	16	9	13
14	IESE Business School	Spain/US/Germany/Brazil	Global EMBA	$328,494	4	10	9
15	University of Oxford: Saïd	UK	Oxford EMBA	$390,436	11	5	10
16	University of Pennsylvania: Wharton	US	Wharton MBA Program for Executives	$362,807	14	18	16
17	HEC Paris	France/Qatar	HEC Paris International EMBA	$316,982	18	7	14
18	Essec Business School/Mannheim Business School	France/Germany/Singapore	Essec & Mannheim EMBA	$293,872	21	15	18
19	HKU Business School	China	HKU-Fudan MBA (International)	$313,765	24	24	22
20	University of Cambridge: Judge	UK	Cambridge EMBA	$285,179	25	31	25
21	BI Norwegian Business School/Fudan University School of Management	China	BI-Fudan MBA	$332,257	30	29	27
22	CUHK Business School	Hong Kong	EMBA	$327,359	22	23	22
23	National University of Singapore Business School	Singapore	The NUS EMBA	$372,278	32	16	24
24	Kedge Business School	France/China	Kedge-SJTU Global MBA	$225,950	28	18	23
24	University of St Gallen	Switzerland	EMBA HSG	$290,605	34	25	28
26	IMD — International Institute for Management Development	Switzerland/Singapore	IMD EMBA	$327,536	17	14	19
27	SDA Bocconi School of Management	Italy	EMBA	$313,718	23	21	24
28	Edhec Business School	France	Edhec EMBA	$199,066	26	30	28
29	Essec Business School	France/Singapore/Morocco	Essec EMBA	$204,118	43	–	–
30	Northwestern University, Kellogg School of Management	US	Kellogg EMBA	$319,389	20	27	26
31	Yale School of Management	US	Yale MBA for Executives	$288,734	14	10	18
32	Kellogg/York University: Schulich	Canada	Kellogg-Schulich EMBA	$197,301	36	37	35
33	Henley Business School	UK/Finland/South Africa	Henley EMBA — Global	$188,990	52	40	42
34	Warwick Business School	UK	EMBA	$209,298	30	20	28
35	University of Chicago: Booth	US/UK/Hong Kong	Sokolov EMBA	$303,355	27	17	26
36	UCLA Anderson School of Management	US	EMBA	$285,139	32	22	30
37	Rotterdam School of Management, Erasmus University	Netherlands	EMBA	$186,904	58	55	50
38	Neoma Business School	France/China	Global EMBA	$167,254	46	46	43
39	EMLyon Business School	France/China/Morocco	EMBA	$246,523	40	36	38
40	Mannheim Business School	Germany	Mannheim EMBA	$260,945	68	47	52
40	Stockholm School of Economics	Sweden	SSE MBA Executive Format	$198,846	67	57	55
42	Kellogg/WHU Beisheim	Germany	Kellogg-WHU EMBA	$259,857	29	28	33
42	ESMT Berlin	Germany	EMBA	$209,113	45	38	42
42	Xiamen University, School of Management	China	Xiamen EMBA	$348,372	–	–	–
45	University of Michigan: Ross	US	Michigan Ross EMBA	$336,023	39	32	39
46	WU Vienna: Executive Academy/University of Minnesota: Carlson	Austria	Global EMBA	$222,829	60	45	50
47	University of Toronto: Rotman	Canada	EMBA	$186,572	54	51	51
48	Sabanci Business School	Turkey	Sabanci EMBA	$308,137	–	81	–
49	Vlerick Business School	Belgium	EMBA	$223,745	56	–	–
50	Cornell University: Johnson	US	Cornell EMBA Metro NY	$227,228	64	91	68
51	Georgetown University: McDonough	US	Georgetown EMBA	$224,352	49	55	52
51	Western University: Ivey	Canada	Ivey EMBA	$183,797	56	65	57
53	Indian School of Business	India	PGP in Management for Senior Executives (PGPMAX)	$384,286	40	–	–
54	Frankfurt School of Finance and Management	Germany	EMBA	$215,815	37	53	48
55	Bayes Business School	UK	EMBA	$233,295	53	40	49
56	Cornell University: Johnson/Queen’s University: Smith	US/Canada	EMBA Americas	$233,669	35	47	46
57	University of Zurich	Switzerland	EMBA	$225,280	74	–	–
58	New York University: Stern	US	NYU Stern EMBA	$253,606	38	34	43
59	Copenhagen Business School (CBS)	Denmark	CBS EMBA	$201,917	58	43	53
60	Incae Business School	Costa Rica/Panama	EMBA	$206,664	68	70	66
61	Korea University Business School	South Korea	EMBA	$297,666	62	80	68
62	HEC Lausanne, University of Lausanne	Switzerland	EMBA	$206,937	70	69	67
63	Grenoble Ecole de Management	France/Georgia	EMBA	$177,044	47	74	61
64	University of Texas at Austin: McCombs	US	Texas McCombs EMBA	$252,378	42	42	49
64	National Sun Yat-sen University	Taiwan	EMBA	$329,530	87	88	80
66	Hult International Business School	US/UK/UAE	EMBA	$215,022	71	67	68
67	University of California at Irvine: Merage	US	EMBA	$187,659	91	68	75
68	Kozminski University	Poland	EMBA	$246,470	62	51	60
68	Antwerp Management School	Belgium	EMBA	$248,802	79	50	66
70	The Lisbon MBA Catolica | Nova	Portugal	The Lisbon MBA Executive	$208,060	49	63	61
71	Peking University: HSBC	China	PHBS EMBA	$318,284	90	–	–
72	Indian Institute of Management Bangalore	India	MBA (two-year, part-time)	$243,035	–	94	–
73	Koç University Graduate School of Business	Turkey	EMBA	$354,812	44	35	51
74	Texas A&M University: Mays	US	Texas A&M EMBA	$257,292	76	71	74
75	Trinity College Dublin, Trinity Business School	Ireland	Trinity EMBA (part-time)	$181,468	65	60	67
75	Duke University’s Fuqua School of Business	US	The Duke MBA — Weekend Executive	$215,290	–	–	–
77	Polimi School of Management	Italy	EMBA	$192,211	98	87	87
78	Emory University: Goizueta	US	EMBA	$238,610	48	43	56
78	Vanderbilt University: Owen	US	Vanderbilt EMBA	$214,922	61	49	63
80	Queen’s University: Smith	Canada	Smith EMBA — The National Program	$162,268	75	58	71
81	Iscte Business School	Portugal/UK/Spain	EMBA	$173,278	92	100	91
82	Audencia	France/Algeria/China	Audencia EMBA	$131,156	89	90	87
83	Cranfield School of Management	UK	EMBA	$176,401	72	76	77
84	Melbourne Business School	Australia	EMBA	$186,152	76	73	78
84	Tias Business School, Tilburg University	Netherlands	EMBA	$171,805	79	78	80
86	University College Dublin: Smurfit	Ireland	Smurfit EMBA	$177,942	81	64	77
86	University of Pittsburgh: Katz	US	University of Pittsburgh EMBA	$274,835	–	75	–
88	University of Utah: David Eccles	US	EMBA	$203,925	94	79	87
89	Rennes School of Business	France/China	Sustainable EMBA	$137,403	73	83	82
89	Sasin School of Management	Thailand	EMBA	$212,573	–	–	–
91	University of Maryland: Smith	US	Maryland Smith EMBA	$226,486	86	60	79
92	Aalto University	Finland	Aalto EMBA	$165,684	88	93	91
93	Rutgers Business School	US	Rutgers EMBA	$233,892	78	59	77
94	University of Amsterdam — Amsterdam Business School	Netherlands	EMBA	$169,136	95	88	92
95	University of Porto – FEP | PBS	Portugal	EMBA	$157,514	–	–	–
96	TBS Education	France/Morocco/Spain	Global EMBA	$132,646	66	62	75
96	Indian Institute of Management Indore	India	PGP in Management for Working Executives (PGPMX)	$234,094	–	–	–
98	Michigan State University: Broad	US	EMBA	$186,420	97	97	97
98	Solvay Brussels School of Economics and Management (ULB)	Belgium	EMBA	$165,593	–	95	–
100	University of Tennessee: Haslam College of Business	US	EMBA	$254,070	100	92	97

Source: Financial Times

---

DON’T MISS LAST YEAR’S STORY ON THE FINANCIAL TIMES EMBA RANKING

The post WashU–Fudan EMBA Tops Financial Times 2025 Global EMBA Ranking For The First Time appeared first on Poets&Quants.