Duke University's Fuqua program and Kenan-Flagler at the University of North Carolina at Chapel Hill along with the Goizueta School at Emory University all dropped in the rankings.
However the University of Georgia MBA program was among the biggest gainers.
The Babcock school at Wake Forest and Georgia Institute of Technology's program made slight advances.
Georgia climbed 26 spots, to 56th from 82nd.
Wake Forest climbed one spot, to 70th.
Georgia Tech rose four spots, to 80th.
Fuqua, meanwhile, fell nine spots to 27th.
Kenan-Flagler dropped 12 spots to 29th.
Emory fell 15 spots to 42nd.
The institutions are ranked based on survey responses from graduates of three years ago, employment rates and salaries for graduates, diversity issues (such as percentage of female faculty and students as well as percentage of international faculty and students) and what The Financial Times calls "idea generation". Alumni were also asked to recommend three business schools from which they would recruit graduates.
Fuqua, whose graduates average $119,084 in salary, ranked seventh in placement success, 12th in alumni rank and ninth in research.
Kenan-Flagler graduates average $109,976 in salary. The school ranked 13th in placement success, 18th in alumni rank and 14th in research.
Emory graduates reported an average salary of $109,277. Emory stood 23rd in placement, 33rd in alumni rank and 17th in research.
Georgia graduates reported a average salary or $88,663. The school ranked 45th in placement, 72nd in alumni rank and 62nd in research.
Babcock graduates averaged $93,552 in salary, and the school ranked 61st in placement, 76th in alumni rank 58th in research.
Tech graduates reported an average salary of $88,648. Tech ranked 38th in placement, 69th in alumni rank and 62nd in research.
Wharton at the University of Pennsylvania finished first. Harvard Business School, which tied Wharton for first a year ago, finished second.
This is the eighth year that The Financial Times has compiled the MBA school rankings.
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