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.
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