In the Business Week magazine's 2006 MBA rankings, released on October 12, IMD ranked first among European programs and received the highest possible ranking in the student survey. Overall IMD was ranked 4th among international MBA programs.

The top 10 business schools outside of the US as ranked by Business Week magazine are:

1. Queen's School of Business (No. 1 in 2004)
2. University of Western Ontario - Ivey (No. 6 in 2004)
3. University of Toronto - Rotman (No. 9 in 2004)
4. IMD (No. 2 in 2004)
5. London Business School (No. 5 in 2004)
6. INSEAD (No. 3 in 2004)
7. ESADE (No 4 in 2004)
8. IESE (No. 7 in 2004)
9. York University - Schulich (not ranked in 2004)
10. HEC Montreal (No. 10 in 2004)