The Macquarie Graduate School of Management (MGSM) has moved up six places to be ranked 49th in the world in The Economist‘s ‘Which MBA?’ 2014 rankings survey, which directly compares leading international business schools. This is the first time the school has broken in to the global top 50.

Most notably, this ranking sees the school retain the position of the top business school in NSW, third in Australia and fifth in the Asia-Pacific region. The school has also achieved a global ranking of three for increase in salary.

“This outstanding result gives us every reason to be proud of our School – our students, our alumni, our faculty and our staff – all who have shown great dedication to the School’s success,” said Professor Alex Frino, Dean of MGSM. “This is what we have been working towards and it is great to see it reflected in the results.”

Read more about MGSM’s rankings in The Economist.