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Rankings of Business Schools: An Art...Not a Science!  August 30, 2022 – 12:12 pm

rankings of business schoolsWe all know that Harvard, Stanford and Wharton are all considered top business schools. But, sometimes, they're not at the top for particular fields, or according to certain publications. One critical step in business school selection is researching different rankings and taking into account your specific interests. To help you get started, we've compiled an overview of the major rankings of business schools and their methodologies, strengths and weaknesses. The most important rankings are produced by U.S. News and The Financial Times. A word of caution: don't focus exclusively on rankings. We're not saying they're unimportant, only that they're just one way to go about school selection. So here's what you need to know about the (imperfect) world of rankings...

U.S. News & World Report

The granddaddy of MBA rankings is U.S. News & World Report, a private publisher. These folks have compiled rankings since 1983 and exert significant influence each year on applicants' business school selection. While their ranking methodology has it shortcomings, it establishes a useful basis for comparing the relative attractiveness of hundreds of academic programs.

Best Business Schools is U.S. News' ranking of MBA programs. Their most popular ranking is for full time MBA programs and is based on the following criteria, in descending order of weight:

  • Peer Assessment Score (25%): Business school deans and directors of MBA programs were asked to rate MBA programs on a scale of 1 to 5.
  • Recruiter Assesment Score (15%): Corporate recruiters and company contacts were asked to rate MBA programs on a scale of 1 to 5.
  • Mean Starting Salary and Bonus (14%)
  • Employment Rate 3 Months After Graduation (14%)
  • Mean Undergraduate GPA (8%)
  • Employment Rate at Graduation (7%)
  • MBA Program Acceptance Rate (1%)

In an effort to provide more targeted rankings, U.S. News also publishes specialty rankings in fields such as accounting, entrepreneurship, finance, and marketing, as well as part time MBA rankings. These rankings are based solely on ratings by deans and directors of MBA programs. Since they do not analyze as many variables, they are less robust, but still useful guides.

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Source: www.mbaheaven.com

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