Tag Archives: Rankings
January 27, 2014
For the fifth time since 1999, Harvard Business School tops the 2014 Global MBA Ranking published Sunday by the Financial Times. Stanford Graduate School of Business occupies the number-two slot for a second year running, …
For the fifth time since 1999, Harvard Business School tops the 2014 Global MBA Ranking published Sunday by the Financial Times. Stanford Graduate School of Business occupies the number-two slot for a second year running, while Wharton School swapped places with London Business School this time around, and Columbia Business School and INSEAD share the fifth place spot.
In fact, seven of the top ten MBA programs are taught in U.S. business schools, but France’s INSEAD (ranked 5th) and Spain’s IESE Business School (ranked 7th) also make the cut. Financial Times calls Yale School of Management a “notable climber” for rising four places to 10th, noting that this is the SOM’s first appearance in the top 10 in seven years.
The ranking also shows the salary of 2010 graduates of elite MBA programs has doubled over the past five years, despite a sluggish global economy. According to the Financial Times survey, 94% say they had achieved the salary increase they were looking for after business school.
Stanford GSB graduates enjoy the highest salaries, averaging $184,000 annually. The second highest salary earners were Harvard graduates, with $178,000. Wharton graduates aren’t far behind though, with salaries averaging $170,000.
The FT says its ranking is based on two surveys of the business schools and their alumni who graduated in 2010. MBA programs are assessed according to the career progression of their alumni, the school’s idea generation and the diversity of students and faculty. Compensation, however, is the most important factor in the ranking and accounts for nearly half of the total weight.
December 4, 2013
Recently, the business school news website Poets & Quants crunched the numbers for its first results-based ranking of the best schools for entrepreneurship, which looks at the number of successful startups a school produces and …
Recently, the business school news website Poets & Quants crunched the numbers for its first results-based ranking of the best schools for entrepreneurship, which looks at the number of successful startups a school produces and how much capital its budding businesses have collectively raised.
The outcome perhaps won’t surprise anyone. P&Q reports that just two schools accounted for more than half of the total number of startups on the top 100 list. With 34 startups at Harvard Business School and 32 at Stanford’s Graduate School of Business, it’s clear that their student and alumni networks act as a driving force for supporting new ideas.
Wall Street Journal‘s Melissa Korn, featured in this video, published a companion piece Wednesday in which she suggests entrepreneurial-focused MBA applicants consider schools that share campuses with strong medical or engineering programs, since a synergy between the disciplines often leads to amazing ideas. Candidates should also take a look at the number of on-campus entrepreneurship activities available.
Ultimately, there are several top schools that strongly support student ventures through business plan competitions, incubators, courses and centers devoted to entrepreneurship. And as Stanford professor Stefanos Zenios, who teaches Startup Garage, one of the business school’s main entrepreneurship courses, tells Korn, one of the best things a school can do for budding entrepreneurs is provide a safe place for them to fail.
“If we can teach our students to use the capital they raise very efficiently, discover…whether an idea is viable, and to close shop without wasting resources, that’s success,” he says.
October 17, 2013
For anyone perplexed about why so much variability exists between the different well-known MBA rankings, Matt Symonds’s recent article in Forbes does a great job of demystifying the subject. In plain terms, he explains the …
For anyone perplexed about why so much variability exists between the different well-known MBA rankings, Matt Symonds’s recent article in Forbes does a great job of demystifying the subject.
In plain terms, he explains the focus of the methodology used by each of the five major business school rankings—US News, The Economist, Forbes, BusinessWeek, Financial Times—and shares how he and his team have compiled the results of the big five MBA rankings of the last 12 months to produce the MBA50.com Premiership.
I don’t like to encourage clients to focus too heavily on rankings when they’re making their MBA program selections, since obsessing over rankings can actually hinder applicants’ research process. But I do think Symond’s easy-to-absorb explainer of what each of the major rankings is actually based on can be quite helpful.
For instance, if you’re very focused on making sure your program of choice will provide a sizable return on investment, then the Forbes list may be the most useful to you. However, if overall satisfaction as reported by students and recruiters is important to you, then the BusinessWeek rankings would hold more weight.
Ultimately, as Symonds says, it’s not about finding out which MBA program is the absolute best; it’s about determining which b-school is the best one for you.
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October 9, 2013
Forbes has just released its biennial ranking of full-time MBA programs, with a methodology based solely on return on investment (ROI). Forbes compared the earnings of MBA grads in their first five years out of …
Forbes has just released its biennial ranking of full-time MBA programs, with a methodology based solely on return on investment (ROI). Forbes compared the earnings of MBA grads in their first five years out of business school to their opportunity cost (two years of forgone compensation, tuition and required fees) to arrive at a “5-year M.B.A. Gain.”
Surveys went out to 17,000 alumni from 100 schools, and Forbes heard back from 27% of those grads. Salaries five years out of school were down from two years ago for all but two schools in the top 10, Forbes reports, with only Stanford Graduate School of Business and Michigan’s Ross School of Business bucking the trend.
Here’s a snapshot of the best-ranked programs, which compares salaries pre- and post-MBA:
Top 10 Best U.S. MBA Programs
1. Stanford Graduate School of Business
5-year MBA gain: $99,700
Pre-MBA salary: $80,000
2012 salary: $221,000
2. Chicago Booth School of Business
5-year MBA gain: $92,600
Pre-MBA salary: $76,000
2012 salary: $200,000
3. Harvard Business School
5-year MBA gain: $79,600
Pre-MBA salary: $80,000
2012 salary: $205,000
4. University of Pennsylvania’s Wharton School
5-year MBA gain: $74,400
Pre-MBA salary: $80,000
2012 salary: $205,000
5. Northwestern Kellogg School of Management
5-year MBA gain: $73,100
Pre-MBA salary: $73,000
2012 salary: $176,000
6. Dartmouth Tuck School of Business
5-year MBA gain: $71,000
Pre-MBA salary: $72,000
2012 salary: $189,000
7. Columbia Business School
5-year MBA gain: $70,200
Pre-MBA salary: $74,000
2012 salary: $192,000
8. Duke Fuqua School of Business
5-year MBA gain: $69,800
Pre-MBA salary: $63,000
2012 salary: $152,000
9. Cornell Johnson School of Management
5-year MBA gain: $68,100
Pre-MBA salary: $59,000
2012 salary: $155,000
10. Michigan Ross School of Business
5-year MBA gain: $68,000
Pre-MBA salary: $61,000
2012 salary: $153,000
Forbes editor Kurt Badenhausen tells Poets & Quants that an MBA pays off very quickly, particularly at the top schools, though the average payback for the Class of 2008 was 3.7 years, versus 2.7 years a decade ago.
“Graduates often see their salaries triple coming out of school,” he says. “This year’s data will tell an interesting story because these top schools are sending so many MBAs into consulting that their ROIs are fantastic. This year, with the shift in job placement, we’ll see a slowdown in that salary growth.”
For more on this story, read the complete 2013 Forbes MBA rankings.
September 30, 2013
This post originally appeared on Stacy’s “Strictly Business” MBA Blog on U.S.News.com People typically pursue an MBA because they are looking to improve their career opportunities and increase their future income. What some applicants don’t …
This post originally appeared on Stacy’s “Strictly Business” MBA Blog on U.S.News.com
People typically pursue an MBA because they are looking to improve their career opportunities and increase their future income. What some applicants don’t consider is that you can achieve both of those objectives even if you don’t make it into the business programs at Harvard, Wharton or Stanford.
While rankings are a valuable piece of the puzzle when you’re narrowing down your school list, don’t get hung up on the top few programs. It’s more important to be pragmatic and align your expectations with the MBA programs that match your particular profile, particularly if your GMAT score isn’t through the roof or your career trajectory has stalled out.
MBA programs update their career or recruiting reports annually and post them online, so a good strategy is to think about the company or industry you want to work in, and find out whether they recruit at your target schools.
[Research b-schools that match your learning style and personality.]
For example, top MBA employers including McKinsey & Co., Goldman Sachs, Boston Consulting Group, Bain & Co. and Deloitte Consulting recruit heavily at the most elite schools. But they also recruit other schools, such as at UCLA Anderson School of Management, Emory’s Goizueta Business School and Georgetown’s McDonough School of Business. These graduate business schools all placed in the Top 25 of the 2014 U.S. News Best Graduate Schools rankings.
While most schools don’t disclose the number of hires per company, MBA applicants can extrapolate that you might not need to get into a top school in order to land at the company of your dreams.
A few years ago, our client Priya had her sights set on attending one of the top three ranked schools in the U.S. However, as her consultant worked with her on her applications, it became apparent that her chances of admission were less than ideal.
Priya had taken a few swings at the GMAT, but test-taking was a significant weakness for her and her scores topped out at 640. She had a few years of work experience, but promotion freezes had left her stuck at her initial position without advancement.
[Find out how to fix a low GMAT score.]
Priya was starting to wonder if she should apply to business school at all. Before letting her quit, Priya’s consultant asked why she wanted to apply to those top three schools.
Priya wanted to work in corporate finance at a specific Fortune 500 firm after graduating, and had chosen the top schools where that company heavily recruited. With her career goal in mind, Priya and her consultant decided to change strategies.
Since an MBA was the key to achieving her career goals, Priya cast a wider net to include schools ranked in the top 50. She also retooled her application to emphasize her specific, concrete career plan, which helped shift focus away from her weaknesses.
Priya found a great fit in the University of North Carolina—Chapel Hill’s Kenan-Flagler Business School. Though not as competitive for admission as the very top schools, it ranks No. 20 in the U.S. News rankings and in the top twenty of several other lists, and offers a concentration in corporate finance that Priya found appealing.
She maximized her academic and networking opportunities while on campus and found a job with her chosen finance firm after graduating using the skills and contacts she gained, rather than relying solely on recruiting. Priya is now moving up the ranks and is encouraged by the fact that her firm’s CEO obtained his MBA from a school that rarely even appears on a business school ranking list.
[Get MBA admissions tips for applicants with a finance background.]
Location is often overlooked by candidates choosing a b-school, but is extremely important. Recruiters give priority to candidates who have already lived or worked in the same region where the position is located, and graduates tend to gain employment near the geographic location of their MBA program.
While an MBA from Harvard opens doors anywhere, if you’re interested in working in the energy sector, you might have a better shot going where the energy industry thrives. Examples in the oil and gas industry include the University of Texas—Austin McCombs School of Business or Rice University’s Jesse H. Jones Graduate School of Business.
Duke University’s Fuqua School of Business offers an MBA concentration in energy & environment, as well as a new concentration in energy finance.
The point is, if you’re not going into finance or consulting, you have greater flexibility in finding a niche program that’s the right fit for you.
While a degree from an elite business school is a goal and dream for many, several factors – such as test scores, undergraduate academic performance and tuition costs – influence whether it’s a viable option. If you believe the degree is critical to your career goals, consider expanding your school options while still getting a great return on investment.