I don't think your comparison of these schools is useful. Bocconi is a Ferrari and Cranfield is a Mondeo. These are not bad choices for the people who select them.
Bocconi is Italy's only world-class university for business and economics, with around 14,000 fulltime students. Cranfield is a small graduate university for aerospace and environmental engineering, management and defence. It's not a huge domestic draw for finance students because it's not our top business school, or even in the top five: its business school has hundreds of full-time students, not tens of thousands. Any university without an undergraduate programme has less visibility, but if you expect these two schools to complete for alumni networks in investment banking then you will be disappointed.
Similarly, most people who work in finance don't work for investment banks. That's not the right measure for a MIF. EY is the biggest employer of Bocconi alumni. If you think that someone in a finance role at EY, the non-IB parts of HSBC or PwC is a failure, then you misunderstand the wide range of career goals for MiF students. Similarly, what is a good firm? Is it a company your friends at Bocconi know?
Cranfield and Bocconi simply don't complete. Who takes the MiF at Bocconi? Italians, 3/4rds of them. Internationally it is not even completing with excellent schools like ESCP, ESSEC and HSG because.... Italians. Cranfield is for international students who want to work in the UK. They do not limit themselves to IB roles. Indeed, they often start on lower salaries but, to be honest, in Italy there would be no finance jobs for them because of language barriers and racism and because most of them would not be accepted by Bocconi. They would attend Siena, LUISS or Tor Vergata, and get nothing relevant.
You have seen the salary data: Cranfield finance alumni have similar outcomes to comparable UK schools:
http://rankings.ft.com/businessschoolrankings/masters-in-finance-pre-experience-2018 If you separated out the data for non-Italian speakers at Bocconi, I think the numbers would surprise you. For salary increase, Cranfield is similar to Imperial and ESADE. For career progress, it's similar to Nottingham and Edinburgh. For aims achieved, it's above UCD and Warwick. It's competitors are the UK schools for very good (but not excellent) candidates, the people who go to Cass, Edinburgh, Lancaster and Henley.
And Cranfield, like most mid-tier British schools, had a shitty year when every decision was put on hold. Now Brexit is agreed by parliament, things are opening up and hiring is improving. So, it's a better time than last year to come to the UK.
Similarly, Nova is a great school to find work in Portugal, and HEC in Switzerland. The idea that you are unsure if these are good schools because they are not known by your friends from Bocconi is just bizzare. Is the ETH not one of the world great universities, even though few people know it? Is the Sorbonne really better than Cass because more people have heard of it?
Thinking this way does not help you to make choices. Writing so dismissively of strong schools shows unrealistic expectations and helps convince other people, evaluating second tier schools, that there are no opportunities for them.