HEC Paris #2 in Europe: Inside the FT Ranking and the Growing Appeal of European Business Schools

As 2025 comes to an end, the Financial Times (FT) — one of the most influential global authorities in business education — has published its annual European Business Schools Ranking, placing HEC Paris at #2 in Europe. This composite ranking aggregates results across five programme categories — MBA, Executive MBA, Master in Management (MiM), and Open and Custom Executive Education — offering a 360° view of institutional performance.

When a Mexican former consultant, Luis Dominguez, turned down MBA offers from leading U.S. schools such as Dartmouth and Georgetown — and chose HEC Paris instead — it signals more than a personal career move. It suggests a broader shift underway: a redefinition of what “modern business education,” as the FT describes it, means today, with Europe playing an increasingly central role.

A Year Marked by Rising Applications to European Business Schools

The FT highlights a notable development this year: according to Graduate Management Admission Council (GMAC) data, applications to European business schools (excluding the UK) rose by 11%, while applications to U.S. programmes declined by 1%. Reasons vary, but this dynamic sheds light on the growing attractiveness of Europe’s educational model, and underscores the strengths of institutions like HEC Paris.

These trends are influenced by several contextual factors. Political debates in the U.S., including attacks on academic institutions and pushback against DEI initiatives under the Trump administration, have contributed to a more complex higher-education climate.

At the same time, candidates are increasingly attentive to the ROI of a business school degree, including tuition levels, access to visas and work permits, and post-graduation opportunities. These are practical considerations that today play a central role in evaluating global study options.

None of this diminishes the excellence of top U.S. institutions. Instead, it illustrates why more international candidates are taking a closer look at Europe — and why HEC Paris stands out as a compelling choice.

Luis Dominguez, HEC Paris MBA Student c FT Business Education

Why More Candidates Are Considering Europe

In this context, European business schools are emerging as an attractive alternative, presenting a distinctive approach that resonates with current student expectations. A model where:

• Educational choices increasingly reflect personal values and expectations around academic freedom and inclusivity.
• Multi-dimensional diversity enriches academic and intellectual dialogue.
• ROI is not only measured in financial outcomes but in global mobility, career evolution, and personal development.
• A full spectrum of programmes — MiM, MBA, EMBA, and Executive Education — supports different stages of life and career.
• Purpose-driven leadership development comes with a strong focus on global and societal impact.
   

These elements are at the core of our vision of business education at HEC Paris, and resonate strongly with globally minded candidates seeking rigorous, international, and meaningful learning experiences.

HEC Paris in the FT 2025 Rankings: Strong Performance Across All Programmes

The FT composite ranking draws on results from five programme-specific rankings. Here is how HEC Paris performs across these categories:

Master in Management (MiM)

• Consistently ranked among the very top globally (#2 Worldwide Master In Management - Financial Times Ranking 2025)
• Strong early-career outcomes and international exposure

MBA

• #6 in Europe  and #9 in the world
• Robust career mobility and global placement results
• A diverse international cohort and leadership-focused curriculum

Executive MBA (EMBA)

• #8 in Europe and #17 in the world
• High alumni satisfaction
• Strong indicators of career progression and lifelong leadership development

Executive Education

• #2 in the world for Open programs
• #6 in the world for Custom Programs
• Recognised internationally for impact and client satisfaction
• Strong partnerships with companies, institutions, and public organisations

FT Methodology at a Glance

The FT assigns the following weightings:
•    MBA: 25%
•    MiM: 25%
•    EMBA: 25%
•    Open Exec Ed: 12.5%
•    Custom Exec Ed: 12.5%