Cambridge has fallen out of the top 10 best places to study for an MBA, leaving just one location in the UK - London Business School - among the very best in the world.
University of Cambridge: Judge fell from fifth last year to 13th in the Financial Times' annual global MBA rankings. London Business School climbed from sixth to fourth, behind only Stanford, Wharton and Insead.
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Oxford's Said climbed from 33rd to 27th place in the rankings, which take into account several factors including salary of graduates, value for money, employment prospects and research reputation.
Alliance Manchester, Warwick and Cass business schools were also among the top 50.
Best places in the UK to study for an MBA
1. London Business School (4 - overall ranking)
2. University of Cambridge: Judge (13)
3. University of Oxford: Said (27)
4. Alliance Manchester Business School (36)
5. Warwick Business School (41)
6. City University: Cass (46)
7. Imperial College Business School (=51)
8. Cranfield School of Management (=61)
9. Durham University Business School (=64)
10. Lancaster University Business School (70)
11. University of Edinburgh Business School (=73)
12. Leeds University Business School (92)
13. University of Strathclyde Business School (98)
14. University of Bath School of Management (=100)
According to the FT rankings, nine out of the top 10 courses are two-year ones. Insead, which previously topped the list, is the only one-year programme.
Seven of the top 10 places were US institutions.
Top 10 best places in the world to study for an MBA
1. Stanford Graduate School of Business
2. Insead (France/Singapore)
3. University of Pennsylvania: Wharton
4. London Business School (UK)
5. Harvard Business School
6. University of Chicago: Booth
7. Columbia Business School
8. Ceibs (China)
9. MIT: Sloan
10. University of California at Berkeley: Haas