The 21st installment of The UTD Top 100 Business School Research Rankings™ were released March 20th. The University of Pennsylvania’s Wharton School came out on top in both the Worldwide and the North American rankings as it has every year since the rankings’ inception.
Published annually since 2005 by the Naveen Jindal School of Management at The University of Texas at Dallas, the rankings are compiled from academic research published in 24 leading peer-reviewed journals across several business disciplines to gauge research productivity in business schools worldwide. Each year, the rankings reflect a rolling five-year average.
The top three schools in both rankings were unchanged from 2024. The Jindal School was ranked No. 2 and Columbia University was No. 3.
Rounding out the top in this year’s ranking were the University of Chicago’s Booth School of Business at No. 4 and Harvard University at No. 5.
In the past five years, 14 schools, 13 from the U.S. and France’s INSEAD, have occupied top 10 positions in the Worldwide rankings.
| University | Country | 2021 | 2022 | 2023 | 2024 | 2025 |
| University of Pennsylvania (The Wharton School) | USA | 1 | 1 | 1 | 1 | 1 |
| University of Texas at Dallas (Naveen Jindal School of Management) | USA | 3 | 5 | 2 | 2 | 2 |
| Columbia University (Columbia Business School) | USA | 5 | 3 | 3 | 3 | 3 |
| University of Chicago (Booth School of Business) | USA | 7 | 7 | 5 | 5 | 4 |
| Harvard University (Harvard Business School) | USA | 4 | 4 | 4 | 4 | 5 |
| Massachusetts Institute of Technology (MIT) (Sloan School of Management) | USA | 8 | 9 | 8 | 7 | 6 |
| University of Southern California (Marshall School of Business (incl. Leventhal)) | USA | 6 | 6 | 6 | 6 | 7 |
| New York University (NYU) (Leonard N Stern School of Business) | USA | 2 | 2 | 7 | 8 | 8 |
| INSEAD (School of Business) | France | 13 | 12 | 11 | 9 | 9 |
| Indiana University at Bloomington (Kelley School of Business) | USA | 15 | 14 | 9 | 10 | 10 |
| Stanford University (Graduate School of Business) | USA | 11 | 8 | 10 | 12 | 11 |
| University of Texas at Austin (McCombs School of Business) | USA | 10 | 13 | 14 | 11 | 12 |
| Duke University (The Fuqua School of Business) | USA | 9 | 9 | 15 | 14 | 19 |
| University of Minnesota at Twin Cities (Carlson School of Management) | USA | 12 | 10 | 13 | 20 | 21 |
France had the top-ranked university outside the United States in this year’s Worldwide Ranking. INSEAD’s School of Business was ranked No. 9. The next two non-U.S. countries were Canada and United Kingdom. Canada’s University of Toronto (Joseph L. Rotman School of Management) was ranked No. 17 and UK’s University of London was ranked No. 20.
Thirteen countries are represented in the Worldwide Rankings this year, up two from last year: U.S. (64 schools are represented), China (10), United Kingdom (8), Canada (5), Singapore (3), The Netherlands and France (2 schools each) and Austria, Italy, Australia, Denmark, Spain and Germany (1 school each).
“This year’s results show that schools are indeed continuing to compete on the research front,” said Dr. Hasan Pirkul Caruth Chair and Jindal School dean. “The top 100 universities accounted for more than 6,000 papers this year, nearly double what the top 100 produced when we began tracking in 2005. That is truly remarkable and can only help improve both the quality and quantity of research produced in business schools.”
The biggest upward movers this year in the Worldwide Rankings are Germany’s Frankfurt School of Finance and Management (+16); University College London’s UCL School of Management (+12); the University of Tennessee at Knoxville’s Haslam College of Business (+12); and the University of Colorado at Boulder’s Leeds School of Business (+10).
| University | Country | 2025 Rank | 2024 Rank |
| Frankfurt School of Finance and Management | Germany | 91 | 107 |
| University College London (UCL School of Management) | United Kingdom | 78 | 90 |
| University of Tennessee at Knoxville (Haslam College of Business) | USA | 82 | 94 |
| University of Colorado at Boulder (Leeds School of Business) | USA | 39 | 49 |
In the North American Rankings, the U.S. had 92 schools in the Top 100 and Canada had eight. The top Canadian school was the University of Toronto’s Joseph L. Rotman School of Management at No. 16. Next was McGill University’s Desautels Faculty of Management at No. 37.
