Better than IIM? French Universities Rising To The Top According To Financial Times MiM 2024 Rankings

Why French Business Schools are Outranking IIMs in 2024

The latest Financial Times “Masters in Management” (MiM) rankings highlight a noticeable trend: French business schools are outranking many traditional Indian powerhouses, including the Indian Institutes of Management (IIMs). With prestigious schools like HEC Paris, INSEAD, EDHEC Business School, and ESCP constantly appearing in the top ten, it’s clear that these institutions offer distinct advantages in terms of career progress and salary outcomes that the IIMs are struggling to match.

Higher Weighted Salaries and Career Progress

One of the primary metrics in the FT rankings is “weighted salary,” which indicates the average alumni salary three years after graduation. French schools perform exceptionally well here:

• HEC Paris ranks second globally with a weighted salary of $127,375 and a career progress ranking of 61.
• INSEAD follows closely, with a weighted salary of $118,984.
• EDHEC Business School and ESCP Business School offer weighted salaries of $108,239 and $104,197 respectively, along with competitive career progress scores of 55 and 58.

In comparison, even the highest-ranked IIMs fall lower in terms of weighted salaries, with IIM Ahmedabad reporting an average weighted salary of $156,010, but with fewer students securing high-paying international roles. The FT’s rankings also reflect that French schools, through their strong industry links, place graduates into high-paying roles and provide faster career advancement opportunities.

Recent Decline in IIM Salary Packages

The IIMs have recently faced challenges in terms of average placement packages, impacting their appeal for students seeking strong returns on their education investment. Reports from this year’s placement season showed that at IIM Ahmedabad, the highest salary dropped to ₹54.8 lakhs — a six-year low. Moreover, only 22 students out of nearly 2,000 across IIMs received the coveted ₹1 crore package, and some offers were as low as ₹4 lakh per annum at IIT Bombay. 

In contrast, graduates from French schools are often placed in multinational corporations across Europe and beyond, where compensation tends to be competitive and opportunities for career growth are abundant. The FT rankings underscore this difference by awarding higher scores for career progression to French schools, reflecting the rapid advancement alumni experience within a few years post-graduation.

Global Faculty and Alumni Networks

In addition to financial outcomes, French institutions like HEC Paris and INSEAD have the advantage of global faculty who bring valuable international perspectives and industry experience into the classroom. Their alumni networks span multiple countries, connecting students with mentors and opportunities in Europe, the Americas, and Asia. This global network is an invaluable resource for students aspiring to work abroad, as it offers connections in major companies across a range of industries.

In summary, the FT MiM rankings demonstrate that French business schools are outperforming many IIMs in career progress, global salaries, and access to international networks. For Indian students who are looking for competitive packages, faster career progression, and international mobility, these top-ranked French institutions offer a compelling alternative.

Why Top French Business Schools Are a Smart Choice for Indian Students

For Indian students exploring high-quality alternatives to the traditional IIM route, French business schools offer a unique blend of advantages. From an accessible admissions process to international career opportunities, these institutions have crafted a compelling proposition that rivals and, in many cases, surpasses what IIMs can offer. Here’s why choosing a top French business school is a strategic and valuable option.

1. Accessible Admissions Process

One of the key advantages of applying to French business schools is their holistic admissions process. Unlike the IIMs, which rely heavily on the Common Admission Test (CAT) for admissions, top French schools like HEC Paris, ESCP, and INSEAD evaluate applicants based on a broader set of criteria. Academic achievements, work experience, leadership qualities, and international exposure are all considered, which means that applicants with diverse skills and strengths have a better chance of acceptance.

For Indian students, this approach eliminates the intense pressure of a single, high-stakes entrance exam and instead allows them to present a well-rounded profile. Students who excel in practical experience, cultural adaptability, or international projects can showcase their unique strengths, making it easier to gain entry into a prestigious programme.

2. Global Career Opportunities

French business schools are not just highly ranked; they are also well-connected to global markets, particularly in Europe, North America, and Asia. Located at the heart of Europe, institutions like HEC Paris and INSEAD have strong ties with multinational corporations across finance, consulting, luxury, and tech industries. This global network gives students an advantage when it comes to securing high-paying roles in international markets.

For Indian students, the ability to launch a career in global companies with strong compensation packages is a major draw. These institutions offer internships, international placement opportunities, and direct connections to leading companies across sectors. This international exposure can significantly boost career progress and earning potential, offering a strong return on investment for graduates.

3. Cultural Exposure and Diverse Networking

Studying in France provides Indian students with a rich cultural experience that goes beyond academics. French business schools are highly international, often bringing together students from over 50 countries. This multicultural environment encourages students to build relationships and develop a global mindset, both of which are crucial in today’s interconnected business world.

Being part of such a diverse community allows Indian students to gain new perspectives, learn to work effectively across cultures, and develop a network that spans continents. These connections are valuable not just for immediate job opportunities but for lifelong professional relationships that open doors worldwide.

4. Competitive Financial Outcomes

One of the strongest indicators of the value of a French business education is the high average salaries that graduates achieve post-graduation. As seen in the latest Financial Times MiM rankings, French schools are among the top performers in terms of weighted salary:

• HEC Paris graduates report an impressive average salary of $127,375.
• INSEAD alumni earn $118,984, while EDHEC Business School and ESCP Business School report salaries of $108,239 and $104,197, respectively.

These figures highlight the earning potential for graduates of French institutions, which is often higher than that of IIM graduates. For Indian students calculating the return on their investment, these competitive salary outcomes, coupled with faster career progression, make French schools a financially attractive option.

5. Pathway to Permanent Residency in Europe

For students with aspirations for a long-term international career, studying in France also offers a potential pathway to residency in Europe. Many European countries, including France, offer favourable post-graduation work visa policies, allowing graduates to stay and work for several years after completing their studies. This is an attractive option for Indian students aiming to establish themselves in European markets or explore global career opportunities.

Additionally, the Schengen Area’s visa policies make it easier for graduates to travel and work across Europe, creating a gateway to top business hubs like London, Berlin, Amsterdam, and Milan. This mobility enhances the career flexibility and global reach of graduates, making France an ideal destination for students seeking not just a degree, but a stepping stone to an international career.

Conclusion

The latest Financial Times MiM rankings underscore a new reality: for Indian students aiming to pursue a top-tier business education, French business schools offer compelling advantages that rival, and often surpass, those of the IIMs. With globally respected institutions like HEC Paris, INSEAD, EDHEC, and ESCP leading the way, France has established itself as a global hub for business education, attracting students from around the world.

Choosing a French business school offers more than just high rankings. The holistic admissions process, robust global networks, and impressive career outcomes make these schools particularly appealing for Indian students who want to avoid the intense competition of the CAT exam and access lucrative global career opportunities. Additionally, the cultural exposure, diverse networking environment, and pathways to residency in Europe provide an experience that extends beyond academics, preparing students for thriving careers in an interconnected world.

For Indian students seeking a world-class education, competitive financial outcomes, and a direct gateway to international careers, top French business schools are not just an alternative to the IIMs — they’re a strategic choice.