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In the annual ranking of global MBA programs from the Financial Times, the University of Toronto's Rotman School of Management rose two positions to place 44th globally, and 20th in North America, up three spots. The school was also ranked 10th for the research produced by faculty and 15th for its PhD program.

"There is as always lots of room for improvement, but I am pleased with our progress towards being recognized as one of the world's top tier business schools," said Dean Roger Martin.

"On the research front, we are particularly pleased to have cracked the top 10 overall. I think that is undeniable evidence that we have a world-class faculty. Second, our progress has been nothing short of spectacular. Ten years ago, we ranked 58th in research. Congratulations to our faculty members for their research success and to Vice-Dean Peter Pauly and Associate Dean Joel Baum for their leadership in building our faculty."

The school also made substantial gains in some of the career-oriented factors, including substantial improvements in salary increase (highest among Canadian schools), value for money and aims achieved.

The Financial Times MBA ranking is based on data compiled from surveys completed by each participating business schools and a survey of the school's alumni who graduated three years ago. The complete results are .