Bloomberg Businessweek has announced its 2021-2022 ranking of the best business schools in the world. Last year, due to COVID-19, the organization decided to forgo a traditional annual ranking. But a quick comparison between this and the 2019 list shows no change at the very top. Once again, Stanford Graduate School of Business is crowned best in class among U.S. business schools.
Bloomberg Businessweek’s Best B-Schools
|2021-2022 Ranking||2019-2020 Ranking|
|1. Stanford GSB||1. Stanford GSB|
|2. Dartmouth Tuck School of Business||2. Dartmouth Tuck School of Business|
|3. Harvard Business School||3. Harvard Business School|
|4. Chicago Booth School of Business||4. Chicago Booth School of Business|
|5. Northwestern Kellogg School of Management||5. UV Darden School of Business|
|6. Columbia Business School||6. Wharton School|
|7. UC Berkeley Haas School of Business||7. MIT Sloan School of Management|
|8. MIT Sloan School of Management||8. UC Berkeley Haas School of Business|
|9. (tied) Wharton School||9. Columbia Business School|
|9. (tied) UV Darden School of Business||10. Northwestern Kellogg School of Management|
In contrast, we do see a reshuffling of (mostly) the same players for the best business schools in Europe.
Top 5 Best Business Schools in Europe
|1. IMD||1. IMD|
|2. IESE Business School||2. INSEAD|
|3. SDA Bocconi||3. London Business School|
|4. INSEAD||4. HEC Paris|
|5. London Business School||5. SDA Bocconi|
What is new this year is the addition of a Diversity Index to the MBA ranking. For the first time, Bloomberg Businessweek measures race, ethnicity, and gender. According to the publication, race and ethnicity count for 50% of the diversity score and gender for the other 50%.
It’s’ worth noting that none of the schools appearing at the top of the main ranking have the same crossover power where diversity is concerned. Stanford GSB ranks 16th, and both Tuck and HBS rank 17th in diversity. The next top-ranked school, Wharton, comes in 24th place.
Bloomberg Businessweek Methodology
Rankings were based on 19,955 surveys from students, alumni, and recruiters, as well as compensation and employment data from each school. U.S. schools also provided data on race, ethnicity, and gender in their classes for the Diversity Index.
Click here to learn more about the Bloomberg Businessweek 2021-2022 MBA rankings.
Our View of Rankings
While rankings can inform your decision of where to apply, applicants would do well to focus more on a program’s culture, size, or the strength of its alumni network. When Stacy Blackman Consulting last surveyed business school applicants to determine what matters most to them and why, fewer than 12% of survey respondents considered culture a top priority. A mere handful believed program content was the most crucial factor influencing the decision to attend a particular business school.
These troubling results indicate people aren’t paying enough attention to the program that’s truly a good fit for them. We’re realists and know that those headed for b-school really can’t help themselves. But, keep in the back of your mind that placing too heavy an emphasis on rankings can become a distraction. Take multiple factors into consideration when making your final school selection.