The China-Europe International Business School became the first business school in Asia to make the Finacial Time's top-10 MBA programs since the newspaper started ranking programs a decade ago.

The school came eighth in the top-100 list of full-time global Master of Business Administration programs, school officials announced on Tuesday, up from 11th place last year.

CEIBS graduates' salaries increase by an average of 179 percent in three years after graduation, the highest pay rise among the schools listed. Graduates' weighted salary reached US$151,641, based on the Purchasing Power Parity of the World Bank.

Meanwhile, CEIBS graduates' employment rate at three months was reported to have hit 92 percent.

"For a school that is only in its 15th year, to rank among the Financial Time's Top 10 is an extraordinary accomplishment," said CEIBS Executive President Pedro Nueno.