US News MBA Rankings Best Business Schools in 2024

US News MBA rankings

After two years perched at the top of the heap, the Chicago Booth School of Business slipped slightly in the latest US News MBA rankings of the best business schools in 2024. This year, Stanford Graduate School of Business and the University of Pennsylvania’s Wharton School share the top spot in a throwback to their 2021 positions. Meanwhile, the Kellogg School of Management and Chicago Booth have tied for third place, and the MIT Sloan School of Management nabbed fifth place.

If anyone is wondering what happened to powerhouse Harvard Business School, US News knocked it down to number six this year. US News revealed that a change in the methodology–assessing post-graduate salaries by profession–created some rank changes.

“Schools may have improved or declined a bit in this edition’s ranking depending on how well their graduates’ salaries, especially when controlling for profession, compared with the graduates of other schools,” they explained.

What are your chances of getting into a top business school? Contact us to talk strategy with a free 15-minute advising session with an SBC Principal Consultant.

US News MBA Rankings for the Top 20 Schools

Business School2024-25 Ranking2023-24 Ranking
Stanford GSB1 (tie)6 (tie)
Wharton School1 (tie) 3
Kellogg School3 (tie)2
Chicago Booth3 (tie)1
MIT Sloan54
Harvard Business School65
NYU Stern7 (tie)10
UC Berkeley Haas7 (tie)11 (tie)
Yale SOM7 (tie)10
Dartmouth Tuck School10 (tie)6 (tie)
UVA Darden School10 (tie)14
Columbia 12 (tie)11 (tie)
Duke Fuqua12 (tie)11 (tie)
Michigan Ross School12 (tie)8 (tie)
Cornell Johnson School 1515 (tie)
CMU Tepper School16 (tie)18
UT McCombs School16 (tie)20
Emory Goizueta18 (tie)17
USC Marshall School18 (tie)15 (tie)
IU Kelley School 20 (tie)22 (tie)
UCLA Anderson20 (tie)19
UNC Kenan-Flagler 20 (tie)22 (tie)
Vanderbilt Owen20 (tie)27 (tie)

Source: US News & World Report

Methodology

The methodology used by US News to rank full-time MBA programs focuses on career placement success, student excellence, and qualitative assessments. Half of the ranking formula considers placement and earnings outcomes, while the other half assesses academic metrics and opinions from experts.

There’s a shift towards emphasizing outcome measures like employment and earnings, with a new factor added to assess post-graduate earnings by profession. This change reflects the importance of advanced earnings and better career opportunities for business school graduates. The ranking may fluctuate based on how well graduates’ salaries compare with those of other schools, with emphasis placed on salaries relative to employment.

In response to these latest rankings, Poets & Quants remarked, “Harvard Business School needs to boost pay (or produce a large sample) since it ranks among the very best in nearly every other measure. HBS may be a victim of methodology, but (as the saying goes), no one remembers the score…just the result.”

***

Stacy Blackman Consulting offers multiple services to meet your MBA application needs, from our All-In Partnership and Interview Prep to hourly help with essay editing, resume review, and much more! Contact us today for a free 15-minute advising session to talk strategy with a Principal SBC consultant.

Here’s a snapshot of the caliber of expertise on our SBC team.

SBC’s star-studded consultant team is unparalleled. Our clients benefit from current intelligence that we receive from the former MBA Admissions Officers from Harvard HBS, Stanford GSB and every elite business program in the US and Europe.  These MBA Admissions Officers have chosen to work exclusively with SBC.

Just two of the many superstars on the SBC team:
Meet Erin, who was Assistant Director of MBA Admissions at Stanford’s Graduate School of Business (GSB) and Director of MBA Admissions at Berkeley’s Haas School of Business.

Meet Andrea, who served as the Associate Director of MBA Admissions at Harvard Business School (HBS) for over five years.

Tap into this inside knowledge for your MBA applications by requesting a consultation.

Contact

(323) 934-3936
info@StacyBlackman.com

Latest Blog Post

Strengthen Your Quant Profile for MBA Applications

Many business school applicants worry they need a more substantial quantitative background to get into a top program. If your entire career has been in marketing, for example, how can you convince an admissions ...