Only five schools in this second quartile of the FT's ranking suffered year-over-year declines in their rankings. The biggest fall? IIM-Bangalore dropped eight places to rank 35th. More intriguing, however, is the five-year trend metric. It shows big gains by U.S. business schools, particularly Babson College, Penn State Smeal and Vanderbilt Owen, all up by 40 or more places since 2016.