In a span of just 10 years (1999 to 2009), the US Economy went through two booms and busts. The 2001 bust was the result of irrational exuberance that you see when new technology has not found a foothold on the market. Speculators jack up the price. Real investors play along. And then all go to the dust. 2001 was the period when taking the Business online no longer was a lottery for exponential growth but became the new reality of doing Business.
The 2008 financial meltdown nearly brought down world economies, prompting the govt. to offer a $700 billion bailout – the largest Financial Rescue plan in US history. Officially called, the Emergency Economic Stabilization Act of 2008, the plan bought non-performing loans in auto, mortgages and college tuition. The turnaround happened when the Congress passed the Recovery Act in Feb 2009. It took a year for the Act to see results when private employers outperformed govt. recruitment, adding 17.6 million jobs from March 2010 to Nov 2017 at an average of 190,000 jobs. 2008 also triggered the longest period of high unemployment rate – a trend that was reversed only in June 2015.
In such a dynamic time, it is only fair to evaluate two sought-after MBA...
After evaluating 417 MBA programs, US News has released the 2018 Business School ranking. The top spot is a tie between Harvard and Wharton – both enrolling over 1700 full-time students. Booth took the third position while for the fifth position there is a three-way tie between MIT Sloan, Kellogg School of Management and Stanford.
The publication has also created rankings based on specialties that include: Accounting, Entrepreneurship, Finance, Information Systems, International, Management, Marketing, Nonprofit, Production / Operations, and Supply Chain / Logistics.
#1 Harvard University
#1 University of Pennsylvania (Wharton)
#3 University of Chicago (Booth)
#4 Massachusetts Institute of Technology (Sloan)
#4 Northwestern University (Kellogg)
#4 Stanford University
#7 University of California—Berkeley (Haas)
#8 Dartmouth College (Tuck)
#9 Columbia University
#9 Yale University
Ranking by Specialities
#1 University of Texas—Austin (McCombs)
#2 University of Pennsylvania (Wharton)
#3 University of Illinois—Urbana-Champaign
#4 University of Chicago (Booth)
#5 University of Michigan—Ann Arbor (Ross)
#1 Babson College (Olin)
#2 Stanford University
Insead was #13 in the latest Economist Global MBA rankings, but the school is the #1 Business School in FT Global Ranking for 2017, first taking over the position from Harvard last year. Stanford and Wharton took the second and third positions respectively.
One unique ranking factor in FT is the Weighted Salary ($). This post-MBA salary statistics averages the salary for a 3-year period while considering the variations in job function and industry. Since 20-30% students (depending on the percentage international class) return to their country, the purchasing power parity (PPP) is another metric used in FT MBA ranking that gives a level playing field for salaries earned across the world while balancing for exchange rates.
Top #5 MBA Programs based on Weighted Salary (Dollars) are:
1. Stanford Graduate School of Business ($195,322)
2. Indian Institute of Management Ahmedabad ($181,863)
3. University of Pennsylvania: Wharton ($181,634)
4. Harvard Business School ($178,113)
5. Columbia Business School ($172,624)
Harvard has finally lost the 6-year consecutive run as the top Business School in the 2016 Financial Times Global MBA ranking. Insead, which has been downgraded by The Economist (#13), is the #1 Business School in FT Ranking, taking over Harvard, which is at #2. The third position is held by London Business School, which lost one position in this year’s Global MBA ranking.
Weighted Salary in Dollars averages out the post-MBA salary over a 3-year period, while adjusting against variations in industry and job function. The metric also takes into consideration Purchasing Power Parity (PPP) to even out salary received across countries based on the purchasing power and exchange rate.
Top #5 MBA Programs based on Weighted Salary (Dollars) are:
1. Stanford Graduate School of Business ($185,939)
2. University of Pennsylvania: Wharton ($177,877)
3. Indian Institute of Management Ahmedabad ($174,274)
4. Harvard Business School ($172,501)
5. Columbia Business School ($169,866)
Alumni feedback is crucial if you need to gauge the satisfaction score. To a large extent, with an immersive experience like a full-time MBA, loyalty will be formed, but the questionnaire asks the Alumni to list three schools for MBA recruitment.
The Economist MBA Ranking has become a punching bag for the experts seeking status quo and those applicants who don’t want to see volatility. We reviewed the ranking methodology from the time The Economist began ranking Full-time MBA programs. As we have warned earlier, ranking is a reflection of what the publication finds valuable for the MBA applicants, not an absolute truth about the Business School and the MBA programs.
Booth has continued the reign on top for the third consecutive year while Kellogg was the big surprise taking in 2nd position from Darden, which has been pushed to third. Last year, the biggest criticism was when Stanford was demoted to #13th rank. This year, a fifth ranking position behind Harvard’s 4th have stabilized the top tier schools in the Economist Full-time MBA rankings.
The 2016 survey invited 143 schools; some did not make it to the top 100 while quite a few chose to opt out. Indian School of Business, CEIBS, Aston, and McGill were notable absentees. The survey was divided into two sections: Quantitative (GMAT,...
Bloomberg BusinessWeek full-time MBA ranking is perhaps the most influential ranking in MBA Admissions. After the publication discontinued their biennial rankings for the more current annual ranking, the influence of current students on the rankings have taken up 15% of the total score. With the change in the frequency of ranking, there have been a few casualties. The big names that saw its ranking drop out of top 10 include Booth, Columbia, and Ross.
For the 2016 ranking, Bloomberg gave Employer survey rank the highest weightage (35%), followed by Alumni Survey rank (30%), while student survey took a slightly higher weightage (15%), over Salary rank(10%) and Job placement rank (10%).
If you look at the Job Placement rank, the top 10 Business Schools would not even feature in the top 20 list. Part of this discrepancy can be explained by the brand affinity of the top 10 Business Schools and the type of candidates the school attracts. They don’t need any special training or spoon-feeding to match their post-MBA goals with the right employers. Most of the candidates in top Business Schools are self-starters who do not depend on the career service team to offer the big breaks. So if you are...
US News has published the Best Business School ranking for 2016-17 for full-time MBA programs. As predicted, Harvard is #1, followed by Stanford, but Chicago Booth moved two places to tie with Stanford. Wharton became the non-tied school at the 4th position while the fifth position is tied again by Kellogg School of Management and MIT Sloan.
The ranking methodology used this year comprised of three factors: Quality Assessment (40%), Placement Success (35%) and Student selectivity (25%). Peer assessment score, a rating by business school deans and directors of accredited MBA programs, takes the major chunk of US News MBA Ranking (10%) – a factor that would promote the status quo. The Peer assessment score is more like a popular vote rather than a rigorous evaluation of what an MBA program can offer. Most consultants, deans, and even aspiring students would have a favorable opinion about Harvard. The brand is synonymous with quality, and low acceptance rate. Hopefully in the near future, recruiter assessment score would take 25% in the Quality Assessment segment.
For complete MBA Research, ...
It is official – “Booth is the new Harvard.” For the fourth consecutive year, Chicago Booth ranks #1 for The Economist 2015-16 Full-time MBA rankings. Darden took the #2 spot pushing Tuck to #3. Harvard is at #4, and HEC Paris is at #5. No matter how much noise you hear about the ranking methodology, no single ranking is perfect. Students tend to rely heavily on one ranking data: FT, The Economist, BusinessWeek, or US News (for US Schools). They are useful predictors, but calculating return on investments requires detailed analysis, taking into consideration, your financial position and short-term goals, and the quality and relevance of the program.
Despite what critics complain, the fluctuation in ranking is not the result of considering just one-year’s data. In fact, the Economist takes the weighted average of the last three years: 2014 (50%), 2013 (30%) and 2012 (20%). When schools fail to provide at least two consecutive year’s data, they are not considered for the ranking. That is why, you will see renowned programs like CEIBS, UC Davis and Aston missing from the ranking. Other top schools like Imperial College Business School and Rotman chose not to participate. For brand value,...
Bloomberg BusinessWeek is discontinuing the biennial rankings from 2015 and has released the annual ranking for 2015. What is interesting this year is that for the first time in BusinessWeek MBA Ranking, Alumni Feedback (35%) has been included as part of the ranking. BW took inputs from Alumni, who have graduated in 2007, 08 and 09. The ranking has done away with the research papers published by the Faculty as one of the ranking factors. Instead, the focus has been exclusively on the post-MBA salary increase, placement trends, and brand value of the Business School.
With a heavy emphasis on Alumni and Student feedback, the powerhouse brands have taken over the rising stars. As expected, Harvard is on top, followed by Booth, and Kellogg.
Top 10 Business Schools (US)
4) MIT Sloan
8) Duke Fuqua
9) Berkeley Haas
10) Michigan Ross
Ranking Index Score
More than the ranking keep an eye on the ranking index score. Harvard is #1 with a score of 100. Booth has an index score of 98.47. A difference of 1 or 2...
No matter what experts say about FT Global MBA Ranking, the publication gives a global perspective on Top MBA programs in the world. US News MBA Ranking gives a myopic view about Management Education with US as the central focus. Agreed, US hosts most top MBA programs but there is a world outside the US – a much economical, faster and cost efficient way to upgrade your skills and associate yourself with a worthwhile brand.
The review of FT Global MBA Ranking by Poets & Quants made me wonder how experts infuse their biases when they see ranking fluctuations. Somehow, they feel any ranking that defends the status quo means great ranking. Picture this reasoning - “The most recent informal survey of MBA applicants by mbaMission, a leading admissions consultant, found that only 10.2% of the respondents considered the FT their most trusted source of business school rankings. The most trusted? U.S. News & World Report which was cited as most trusted by 46.1% of the respondents.”
What P & Q is saying is that an informal survey by one of...
Harvard is the school to beat in the Financial Times Global Business School Rankings for 2015. The School has taken the top spot for the sixth consecutive year, beating the rivals Wharton, Stanford, and London Business School. Stanford has dropped two places from 2014 rankings to rank at 4th while Wharton has sneaked in one position to rank at 3rd. London Business School also did the same trick by ranking at #2. Insead is tied at #4 with Stanford. ESMT and Duke Fuqua: the big surprise winner in BusinessWeek MBA ranking is featured at 63rd and 21st positions respectively.
Top #5 MBA Programs based on Weighted Salary(Dollars)
1) Harvard Business School - $179910 (96% Salary Increase)
2) Stanford Graduate School of Business - $177089 (80% Salary Increase)
3) University of Pennsylvania: Wharton - $171543 ( 90% Salary Increase)
4) Columbia Business School - $169252 (106% Salary Increase)
5) Indian Institute of Management, Ahmedabad – 167676 (88% Salary Increase)
Weighted Salary in Dollars is not the immediate post-MBA Salary....
2014 has been the most volatile year for Business Schools and Full-time MBA Ranking. US News gave #1 rank to Harvard, Stanford, and Wharton; Financial Times ranked Harvard in the top position, The Economist rewarded Chicago Booth, and Businessweek interestingly chose Duke Fuqua School of Business. To make it easier for you to analyze top MBA programs, we have created an aggregate ranking list for top MBA programs.
Since US News only ranks US-based Business Schools, we have excluded the data. Businessweek has a separate ranking list for US and Non-US Schools, but their Full-time MBA ranking has combined the two, and this has resulted in many tied positions. We have used ranking data from Businessweek, The Economist, and The Financial Times for ranking Top MBA programs.
Only six schools - Chicago Booth, Stanford, Harvard, IESE, Wharton, and Columbia, have featured in the Top 10 ranking in all the three ranking publications. Duke Fuqua full-time MBA program - Businessweek’s #1 MBA program, fairs in the top 25 ranking in The Economist, and Financial Times Global MBA ranking list. Ivey School of Business, another Businessweek #1 program, ranks at the #89...
Fuqua School of Business has replaced Chicago Booth to top the 2014 Bloomberg Businessweek Business School ranking - a 5-position jump from the 2012 ranking. Booth lost two positions and ranks at #3. Wharton moved one position up and ranked at #2. Remember, Businessweek Business School rankings are a biennial ranking with 25% of ranking points influenced by the 2012 survey data and 75% by the 2014 data. The biggest casualty has been the Harvard MBA program, losing six positions to rank at #8. The ranking is based on three factors: student satisfaction (45%), employer feedback (45%), and Expertise of the Faculty (10%).
Businessweek has a separate ranking list for International MBA programs. In the International list, Ivey School of Business, Canada took the top honors replacing London Business School to rank at #1. London Business School lost three positions to rank at #4. A surprise entrant to the top 3 ranking was ESMT European School of Management and Technology, Berlin, taking #3 position. The MBA program was not featured in the...
The 2014-15 Economist Full-time MBA ranking has been released. When Harvard, Stanford, and Wharton are leading in other ranking publications, and Chicago Booth ranks #1 for the 3rd consecutive year, you expect some kind of name-calling, and it happened this year too.
As explained in our review of the ranking methodology used by The Economist, the ranking is based on four factors: Career Opportunities (35%), personal development/educational experience (35%), increase in salary (20%) and potential to network (10%).
Tuck has retained the 2nd position, but Haas has lost its 3rd position to Darden, which emerged from 4th place. A surprise entry in the top 5 ranking is from the European powerhouse – HEC Paris, which took 4th position for the first time. Signs of a European resurgence was visible last year when HEC jumped from 14th to 8th rank, but an even a mightier jump to 4th position was unexpected. Perhaps the ...
Business School Ranking is tricky, and for publications, the evaluation is based on feedback from Alumni, Current Students, Professors, and Recruiters. Biases emerge from different actors in management education. The result is a concocted list with a high margin of error. Historical ranking plays a major role in maintaining status quo. Are you saying that Harvard, Stanford and Wharton remain the only top three schools offering world class education? There are at least four more equal or better schools that are not even featured in the top 10 list.
But the ranking is not based on an independent review but through the response from Alma matter and the beneficiary – the Recruiter. When you look closer, the response rates are as low as 20-25%. Such low numbers should not influence the opinions of future MBAs, who will use the ranking information as the basis for their belief. Schools featuring in the top 20 list will spread the news furthest, and those who are not featured in top 50 will use...