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Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Kellogg–HKUST—not Kellogg–HKU—topped the Financial Times’ 2026 Executive MBA ranking. In the results reported by Financial Express, India’s ISB ranked 38th, up from 53rd in 2025, while IIM Bangalore’s Post Graduate Programme in Enterprise Management (PGPEM) placed 64th, up from 72nd. IIM Indore, which was 96th in 2025, did not appear in the 2026 top 100.
What changed in the 2026 ranking?
The Financial Times list covered 100 Executive MBA programs. Financial Express reported that ISB climbed 15 places and IIM Bangalore’s PGPEM climbed eight places year over year. IIM Indore’s absence means it was not among the 100 programs listed in 2026; it does not establish why it was absent.
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| Program | 2026 position | 2025 position | Reported movement |
|---|---|---|---|
| ISB | 38 | 53 | Up 15 places |
| IIM Bangalore PGPEM | 64 | 72 | Up eight places |
| IIM Indore | Not listed in the 2026 top 100 | 96 | Absent from the 2026 list |
These positions and year-over-year comparisons are attributed to the Financial Times ranking as reported by Financial Express. A change in rank is relative to other programs and the ranking’s inputs; the reported movement alone does not show that teaching quality, applicant demand, or graduate outcomes changed.
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Which Kellogg program ranked first?
The 2026 winner is the joint Kellogg–HKUST Executive MBA, offered by Northwestern University’s Kellogg School of Management and the Hong Kong University of Science and Technology (HKUST). HKUST Business School’s announcement identifies the program as No. 1, and Financial Express also names Kellogg and HKUST as the joint winner.
#1 Best Overall
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HKU and HKUST are separate institutions. The ranking coverage also lists the HKU–Fudan MBA (International) at overall position 24. That is a different program, not the Kellogg–HKUST Executive MBA.
How does the ranking calculate its results?
Financial Express reported that the ranking’s score combines three sources of input. Alumni surveyed for the 2026 ranking graduated in 2023. The published weighting and criteria below are as reported by Financial Express, rather than independently verified against the Financial Times’ methodology page.
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| Input | Share of score | What the coverage says it considers |
|---|---|---|
| Alumni responses | 52% | Salary growth, career progress, work experience, and achievement of career goals |
| Data supplied by participating schools | 38% | Student diversity and other school-reported information |
| Faculty research | 10% | Research quality |
The resulting order reflects these selected measures and survey inputs. It is not a universal assessment of fit for an individual applicant, nor does a higher position by itself establish affordability, employer recognition, or the quality of a particular student’s experience.
What HKUST says about the winner
In its 12 October 2026 announcement, HKUST Business School reported that Kellogg–HKUST ranked first overall and first in the alumni network category. The school also reported an average salary “today” of US$607,684, an average salary increase of 69%, and satisfaction of 9.73 out of 10. These are figures reported by the school, not independently checked estimates in the ranking coverage; they should not be treated as guaranteed outcomes for an applicant.
Rank #3
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HKUST Business School Dean Prof. Frederik Anseel said: “Thirteen No. 1 rankings over nearly two decades demonstrate the consistency with which this program has delivered value to senior executives around the world.” This is the dean’s characterization of the program’s record.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What applicants should take from the rankings
The ranking can help identify programs performing well on its chosen measures, but it cannot decide which EMBA is right for a working professional. Applicants comparing programs should examine the underlying dimensions—career progression and goals, salary outcomes, alumni network, international exposure, diversity, research, and the format’s compatibility with work and personal commitments. Check how each school defines and reports outcomes, and assess costs and employer relevance directly rather than inferring them from rank.
Rank #4
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The reported rises for ISB and IIM Bangalore are useful signals of improved relative placement in this year’s list. The available coverage does not establish a specific cause for either rise, or show that rank movement alone predicts an individual graduate’s results.
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