Tag Archives: Chicago Booth School of Business

Harvard Crowned No. 1 in Bloomberg Businessweek 2015 MBA Ranking

Bloomberg Businessweek has released its 2015 global rankings of best business schools, and Harvard Business School claims the number one spot among 74 full-time U.S. programs. Chicago Booth School of Business is number two, and …

 Harvard Business School ranked number 1Bloomberg Businessweek has released its 2015 global rankings of best business schools, and Harvard Business School claims the number one spot among 74 full-time U.S. programs. Chicago Booth School of Business is number two, and Northwestern’s Kellogg School of Management is number three. Bloomberg Businessweek‘s top school of 2014, Duke University’s Fuqua School of Business, fell to number eight.

Of 29 international MBA programs, Western University’s Ivey Business School in Ontario, Canada is number one (retaining its top spot in 2014’s ranking), London Business School is number two and INSEAD in Fontainebleau, France is number three.

Among the 74 part-time U.S. MBA programs evaluated, Northwestern’s Kellogg ranks number one, Carnegie Mellon’s Tepper School of Business ranks number two, and Rice University’s Jones Graduate School of Business ranks number three.

Top Ten Full-Time MBA Programs in 2015

  1. Harvard Business School
  2. Chicago Booth School of Business
  3. Kellogg School of Management
  4. MIT Sloan School of Management
  5. UPenn Wharton School
  6. Columbia Business School
  7. Stanford Graduate School of Business
  8. Duke/Fuqua School of Business
  9. UC Berkeley Haas School of Business
  10. Michigan Ross School of Business

For the first time, Bloomberg Businessweek says it has placed a sharper focus on what people most hope to find after business school—career growth and job satisfaction—and how well MBA programs promote both. Businessweek compiled what it calls its deepest and broadest set of data ever from over 13,150 current students, 18,540 alumni, and 1,460 recruiters across 177 business school programs.

According to the news magazine, the rankings are based on five measures:

1. Employer Survey (35 percent of total score): Recruiter feedback on the skills they look for in MBAs, and which programs best equip their students with those skills;

2. Alumni Survey (30 percent of total score): Feedback from the Classes of 2007, 2008, and 2009 on how their MBAs have affected their careers, their compensation change over time, and their mid-career job satisfaction;

3. Student Survey (15 percent of total score): The Class of 2015’s take on academics, career services, campus climate, and more;

4. Job Placement Rate (10 percent of total score): The most recent data on how many MBAs seeking full-time jobs get them within three months of graduation;

5. Starting Salary (10 percent of total score): The most recent data on how much MBAs make in their first jobs after graduation, adjusted for industry and regional variation.

“By refining our focus and updating our methodology, we’ve created the most effective ranking yet for helping career-oriented students choose an MBA program,” says Ellen Pollock, editor, Bloomberg Businessweek.

Not everyone agrees, however, that the updated methodology accurately reflects the standing of the best business schools in the land.

“Changes in methodology…result in vast swings in rankings that have nothing to do with the quality of an MBA program’s experience,” notes Poets & Quants editor John A. Byrne in his analysis of the new rankings. “Even among the truly elite MBA programs, there were double-digit changes which tend to be rare and hardly credible,” Byrne writes.

In the article he calls out some head scratchers—schools that have either skyrocketed or plummeted over last year’s standing—but Byrne says that in general, the new methodology has produced a somewhat more credible list than last year’s, “which severely damaged the standing of the Businessweek ranking.”

In the end, despite any debate over rankings and methodology, one thing remains clear: the MBA continues to be a sound investment in one’s career.

Jonathan Rodkin, research and rankings coordinator at Bloomberg Businessweek, says, “Most MBAs have no trouble landing jobs: Three months after graduation, 88 percent of MBAs have been hired—and offered a nice pay bump. Graduates saw an 81 percent jump over their median compensation before B-School. After six to eight years, pay typically increased another 64 percent to around $169,000 a year.”

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Chicago Booth Tops the Economist MBA Rankings Again
Columbia’s Dean Hubbard on MBA Rankings
Rethinking MBA Rankings

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Chicago Booth Tops The Economist MBA Rankings Again

For the fifth time in six years, the Chicago Booth School of Business takes the top spot in The Economist’s annual ranking of the best business schools in the world. Despite Booth’s reputation for finance …

chicago booth tops economist rankingsFor the fifth time in six years, the Chicago Booth School of Business takes the top spot in The Economist’s annual ranking of the best business schools in the world.

Despite Booth’s reputation for finance and “super quants”, The Economist finds it to be a well-rounded MBA program, with graduates gushing about finding nearly guaranteed employment in the widest range of industries, and students believing the Chicago Booth career services, faculty, and facilities were top-notch.

Although the rankings are global, 14 of the top 20 schools in the 2015 ranking are located in the U.S. Here’s a look at this year’s Top Ten:

  1. Chicago Booth School of Business
  2. UV Darden School of Business
  3. Dartmouth’s Tuck School of Business
  4. Harvard Business School
  5. HEC Paris
  6. UC Berkeley Haas School of Business
  7. Northwestern’s Kellogg School of Management
  8. INSEAD
  9. UCLA Anderson School of Management
  10. The Wharton School

There were some notable shifts from last year’s ranking, which placed Kellogg at 14, INSEAD at 18, and UCLA Anderson at 13. Another surprise was Spain’s IESE, which took the 5th spot in 2014 but came in at 14 this year. IE Business School, also in Spain, made great strides over last year’s ranking, coming in at 36 in 2014 and 17th in 2015.

The Economist wants to find out how effective the MBA degree is at opening up new professional opportunities, and says its ranking is based on a mix of hard data and subjective marks given by the students.

“Each year we ask students why they decided to take an MBA. Our ranking weights data according to what they say is important. The four categories covered are: opening new career opportunities (35% weighting), personal development and educational experience (35%), increasing salary (20%) and the potential to network (10%),” the magazine explains.

While we don’t like to encourage clients to focus too heavily on rankings when they’re making their MBA program selections, we also know those headed for b-school really can’t help themselves. But placing too heavy an emphasis on rankings can actually become a distraction for some applicants, so be sure to consider multiple factors when making your final school selection.

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Columbia’s Dean Hubbard on MBA Rankings
Rethinking MBA Rankings
The Truth Behind 3 Common MBA Rankings Myths

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Tuesday Tips: Chicago Booth Fall 2016 MBA Essay Tips

Chicago Booth School of Business is consistently rated in the top echelon of MBA programs in the United States and is known for a strong intellectual community. This application is designed to evaluate candidates on …

chicago booth essay tipsChicago Booth School of Business is consistently rated in the top echelon of MBA programs in the United States and is known for a strong intellectual community. This application is designed to evaluate candidates on their ability to handle the Chicago curriculum, contribute to the community, and grow in their careers. This year Chicago has asked an entirely new essay question, focused specifically on the Chicago Booth community and your fit within it.

Academic ability will largely be communicated through your GPA/GMAT, transcripts and other fixed data points, though intellectual curiosity can be demonstrated in the essays and the interview. Along with academics, Chicago will be looking for demonstrated leadership, team building skills and community involvement, as well as your fit with Chicago Booth and the perspective you will share with your classmates.

Consider how to work in leadership and work accomplishments into your application. Certainly you can use the essay to discuss both in the context of community, or you may be able to use your resume and certainly the interview.

Essay Prompt
Chicago Booth values individuality because of what we can learn from the diverse experiences and perspectives of others. This mutual respect creates an open-minded community that supports curiosity, inspires us to think more broadly, take risks, and challenge assumptions. At Booth, community is about collaborative thinking and tapping into each other’s different viewpoints to cultivate new ideas and realize breakthrough moments every day.

Using one of the photos below, tell us how it resonates with your own viewpoint on why the Booth community is the right fit for you.

Essay Guidelines
Choose the format that works for you. Feel free to submit a traditional essay, slide presentation or any format that you feel best captures your response. Please use the format you feel most comfortable with, the Admissions Committee has no preference.

Determine your own length. There is no prescribed minimum or maximum length. We trust that you will use your best judgment in determining how long your submission should be, but we recommend that you think strategically about how to best allocate the space.

The new Chicago Booth essay question gives you a set of photos depicting a range of student activities at Booth – from the classroom to experiencing the city of Chicago – and asks you to choose one that illustrates why Chicago Booth is the right community for you.

Your first step is to do as much school research as possible on Chicago. Visit campus. Attend events. Speak to alumni. Read the admissions blog. Whatever you are capable of doing to experience the community for yourself before starting your application will be invaluable as you set pen to paper.

Chicago Booth’s open-ended essay format may be daunting. Whether you choose to write an essay or prepare a presentation, take a step back from the unique format and think about the question strategically. The format’s agnostic setup simply gives you the freedom to express who you are in words, images, graphics or some combination.

The best essays will be simple, evocative and expressive. Remember, content is far more important than visual drama of presentation. Stacy Blackman Consulting has significant experience coaching applicants through the Chicago creative essay. Contact us to learn more about our strategic approach.

As your one opportunity to showcase why Chicago Booth is the right place for you to pursue an MBA, consider the photo that resonates most specifically with you. If it’s a classroom photo, make sure you cover additional elements that may not be obvious at first like the interaction between students depicted, along with the professor and learning aspects.

Keep in mind what Chicago Booth represents in whatever option you choose. Booth is a school with a tradition of intellectual rigor, non-conformity, and innovation. When you introduce yourself to Chicago Booth you can share anything from any context, from work to home to extracurricular activities.

If you decide to write an essay response, you have enough space to tell a story that describes something new about yourself. If you decide to prepare a PowerPoint in response to this essay question, refine your story to its key elements. To keep a visual essay interesting and high-impact, consider how you will format. Can you use photos? Drawings? If you use words, keep them clear and focused. Take every point up a level, so you are communicating a vision rather than a thesis.

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Chicago Booth Fall 2016 MBA Application Deadlines

The Chicago Booth School of Business has announced the following MBA application deadlines for the 2015-2016 admissions season. Round 1 Application due: September 17, 2015 Decision released: December 10, 2015 Round 2 Application due: January …

Women at chicago boothThe Chicago Booth School of Business has announced the following MBA application deadlines for the 2015-2016 admissions season.

Round 1

Application due: September 17, 2015
Decision released: December 10, 2015

Round 2

Application due: January 5, 2016
Decision released: March 24, 2016

Round 3

Application due: April 5, 2016
Decision released: May 19, 2016

Your application must be submitted by 5 p.m. (CST/Chicago time) on the day of the deadline in order to be considered for a particular application round. The Fall 2016 application is now live; please refer to the Chicago Booth admissions website for additional information.

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Chicago Booth Debuts Bold New MBA Essay Format

 

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Chicago Booth Debuts Bold New MBA Essay Format

The Chicago Booth School of Business is breaking ground with its Fall 2016 MBA essay prompt, which asks applicants to choose one of 16 photos depicting various aspects of Booth student life, and to write …

Chicago Booth MBA essay

The Chicago Booth School of Business is breaking ground with its Fall 2016 MBA essay prompt, which asks applicants to choose one of 16 photos depicting various aspects of Booth student life, and to write “How it resonates with your own viewpoint on why the Booth community is the right fit for you.”

Within the variety of images, you’ll see team-building exercises, adventure treks, classroom shots, cultural events, commencement celebration, and even a captivating image of architecture at Chicago Booth.

In the latest Booth Insider blog post, Kurt Ahlm, Associate Dean of Student Recruitment and Admissions, explains that the admissions team wants to share with applicants more complete picture of what the Booth community is all about.

This new format, Ahlm writes, was conceived “In the spirit of diverse perspectives and challenging the status quo—even our own status quo,” and the team is excited about prompting applicants to think in a different way.

In the instructions, applicants are urged to select whatever format is right for them—a traditional essay, a slide presentation, or any format that best captures your response. There is no set size limit to this response, though candidates should use good judgement in how best to allocate the space.

There is also a required essay for re-applicants: Upon reflection, how has your perspective regarding your future, Chicago Booth, and/or getting an MBA changed since the time of your last application? (300 words maximum)

The Fall 2016 application is now live on the website, and we’ll be bringing you tips on how to approach this exciting new essay format very soon. Until then, good luck and have fun!

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Chicago Booth Fall 2016 MBA Application Deadlines

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Advice from an Early Career MBA

Whether or not Chicago Booth School of Business is on your short list, the recently revamped Booth Experience blog, written and managed by students, regularly offers guidance on subjects that are universally interesting for all …

Whether or not Chicago Booth School of Business is on your short list, the recently revamped Booth Experience blog, written and managed by students, regularly offers guidance on subjects that are universally interesting for all MBA applicants.

This week, second-year student and frequent blog contributor Alex Simon concludes a three-part series with a post on three things for early-career MBA candidates to keep in mind as they research business schools.

Simon was 24 when he started at Booth, and with just two years of work experience, he worried he would be at a serious disadvantage with classmates five to 10 years older than he. That’s why he says younger applicants should give serious thought to answering the question of why an MBA and why now; figure out how to demonstrate their competency among more experienced classmates without giving attitude; and gird themselves for dealing with the inevitable setbacks that will occur.

If you’re an early career candidate who is motivated and can show strong leadership and managerial potential, make sure you invest plenty of time into researching which MBA program is the right one for you. Follow the link above for Simon’s take on these issues, and be sure to check out his previous articles in the series as well.

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How to Determine When the Time Is Right for an MBA

Timing Your MBA: Work 5 First or Dive Right In?

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