Veritas Prep Blog » MBA Rankings http://www.veritasprep.com/blog GMAT Prep | SAT Prep | Admissions Consulting Fri, 20 Feb 2015 23:26:50 +0000 en-US hourly 1 http://wordpress.org/?v=4.1.1 Understanding the Bloomberg Businessweek Business School Rankings for 2014 http://www.veritasprep.com/blog/2014/11/understanding-the-bloomberg-businessweek-business-school-rankings-for-2014/ http://www.veritasprep.com/blog/2014/11/understanding-the-bloomberg-businessweek-business-school-rankings-for-2014/#comments Fri, 14 Nov 2014 18:34:58 +0000 http://www.veritasprep.com/blog/?p=15432 Well, it’s that time of year again…rankings season.  Actually, the mother-ship of b-school rankings, the Bloomberg BusinessWeek rankings, only comes out every two years, but since the last one was in 2012, we find ourselves once again pouring over the latest chips and where they fell this time around.   Of course the usual suspects are all packed into the top 10-15, but there were a few upsets this year, some more surprising than others.  But first, let’s discuss how BusinessWeek ranks these schools in the first place.

The BusinessWeek rankings are on the surface rather simple; in fact, there are really only three metrics which are considered.  The first is a survey of existing students and their overall satisfaction with the curriculum, the faculty and the culture of their school.  In order to be considered in the rankings at all, a school must return at least 30% of its questionnaires, which are given as one per student.  If less than 30% of the student body returns the questionnaire, that school is not ranked at all.  This year, BBBW ranked 85 schools—the longest list in their history of rankings.  This student survey makes up 45% of the score for the ranking.

Secondly, BBBW interviews recruiters, to survey their opinions about the quality of the students they hire from individual schools.  The recruiter survey is tabulated and quantified, and the results indicate which schools are making recruiters the most happy with the students they end up hiring.  This recruiter survey makes up another 45% of the ranking, leaving just 10% of the score to come from what’s known as “intellectual capital scores,” which is a fancy way of saying what professors think of the faculty and their research production.  Surveys are sent to faculty and Dean’s of top programs, and their opinions of the relative quality of research articles and publications coming out of each school are tabulated.

For the first time ever, Duke University’s Fuqua School of Business beat out the likes of stalwarts Harvard, Stanford and Wharton, among the other 81 schools to be crowned the number one business school in America.  This is the first time Duke has ever been ranked at #1, and previously had been as high as #5 back in 2000.   Surprisingly, HBS took a nosedive this year, dropping to #8  from #2.  Last year’s number one school, the Booth School at University of Chicago, fell to #3, nudging up the Wharton School back to #2 (Wharton was #3 last year).  Some schools slipped out of the top 10 for the first time in awhile, including MIT’s Sloan School of Management and University of Virginia (which was down a whopping 10 spots and now sits just barely in the top 20).  The Johnson School at Cornell dropped back again to number 13, after a brief, one year period in the top 10.

Despite the shuffling, the same schools always seem to remain in the rarified air of the top 15 or 20, so it’s unlikely the rankings will cause any shockwaves.  Certainly Duke will get a few more applications, but since they have been solidly in the top 10 for almost two decades, rising to the coveted #1 spot will not make much real long-term impact on their admissions process most likely.  Other schools, however, will likely get a real bump.  Schools such as University of Maryland or Emory, who have never been in the top 20 before, are suddenly enjoying some well-deserved limelight.

In the final analysis, you should still stay the course and not let rankings drive your application decisions.  The best schools to apply to are always the ones where you feel you will fit the best academically, culturally and professionally.

Learn about top MBA programs by downloading our Essential Guides! Call us at 1-800-925-7737 and speak with an MBA admissions expert today, or click here to take our Free MBA Admissions Profile Evaluation! As always, be sure to find us on Facebook and Google+, and follow us on Twitter.

Bryant Michaels has over 25 years of professional post undergraduate experience in the entertainment industry as well as on Wall Street with Goldman Sachs. He served on the admissions committee at the Fuqua School of Business where he received his MBA and now works part time in retirement for a top tier business school. He has been consulting with Veritas Prep clients for the past six admissions seasons. See more of his articles here.

]]>
http://www.veritasprep.com/blog/2014/11/understanding-the-bloomberg-businessweek-business-school-rankings-for-2014/feed/ 0
Bloomberg Businessweek Business School Rankings for 2014 http://www.veritasprep.com/blog/2014/11/bloomberg-businessweek-business-school-rankings-for-2014/ http://www.veritasprep.com/blog/2014/11/bloomberg-businessweek-business-school-rankings-for-2014/#comments Wed, 12 Nov 2014 01:02:42 +0000 http://www.veritasprep.com/blog/?p=15376 Bloomberg Businessweek has just announced the 2014 edition of its influential biennial MBA rankings, and boy are there changes afoot! Business school rankings are normally only interesting when there are big changes, and the folks at Businessweek did not disappoint this year.

Here are Bloomberg Businessweek’s 2014 rankings of the top 25 business schools in the U.S., followed by our analysis of what’s changed:

1. Duke (Fuqua)
2. Pennsylvania (Wharton)
3. Chicago (Booth)
4. Stanford
5. Columbia
6. Yale
7. Northwestern (Kellogg)
8. Harvard
9. Michigan (Ross)
10. Carnegie Mellon (Tepper)
11. UCLA (Anderson)
12. North Carolina (Kenan-Flagler)
13. Cornell (Johnson)
14. MIT (Sloan)
15. Dartmouth (Tuck)
16. Indiana (Kelley)
17. Maryland (Smith)
18. Emory (Goizueta)
19. UC Berkeley (Haas)
20. Virginia (Darden)
21. USC (Marshall)
22. NYU (Stern)
23. Texas at Austin (McCombs)
24. Georgetown (McDonough)
25. Rice (Jones)

Winners in This Year’s Rankings
There’s no doubt that they’re partying down in Durham today, as Duke’s Fuqua School of Business has taken over the #1 spot in Businessweek’s rankings for the first time, knocking previous champ Chicago Booth down to #3. Columbia also had a huge day, climbing eight spots from #13 to the fifth slot.

It’s hard to top Duke’s big day, but if anyone is even more excited than Team Fuqua, it may be the folks at Yale SOM, which climbed a whopping 15 spots, jumping from #21 all the way to #6. No doubt the student body in New Haven is feeling energized by the school’s new building and the leadership of new dean Ted Snyder.

UCLA Anderson also had a terrific day, climbing from #18 all the way to #11. UNC’s Kenan-Flagler was just a smidge less successful, jumping from #17 to #12 in the new rankings.

Losers in This Year’s Rankings
We already mentioned Booth, which lost the top spot this year, although there’s no real shame in being ranked the third best business school in America. Among business schools in the top ten, Harvard is smarting from a six-spot drop from #2 down to #8. And Kellogg fell out of the top five, drooping two spots to #7.

Looking a bit further down the list, Cornell’s Johnson School fell out of the top ten, dropping from 7th place down to 13th place. MIT Sloan had a similarly bad day, falling from ninth place to the 14th spot.

How Businessweek Ranks the Business Schools
Bloomberg Businessweek uses three data sources for its rankings: It relies on a survey of student satisfaction (which is given a 45% weighting), a survey of employers who hire those graduates (45%), and a measure of the faculty’s clout, judged by how much the faculty publishes in academic journals (10 percent). You can read about Businessweek’s ranking methodology in more detail here.

So, remember that these rankings are largely a measure of how happy MBA students are with their schools, and how happy employers are with the grads that the schools turn out. This is no better or worse of a methodology than any other, but keep that in the back of your mind as you consider whether any school really just got better or worse than 10 other top-ranked U.S. business schools.

You can read more about 14 of the the most competitive business schools in Veritas Prep’s Essential Guides, 14 in-depth guides to the most elite MBA programs, available on our site. If you’re ready to start building your own MBA candidacy, call us at 1-800-925-7737 and speak with an MBA admissions expert today. And, as always, be sure to find us on Facebook and Google+, and follow us on Twitter!

By Scott Shrum.

]]>
http://www.veritasprep.com/blog/2014/11/bloomberg-businessweek-business-school-rankings-for-2014/feed/ 0
U.S. News MBA Rankings for 2015 http://www.veritasprep.com/blog/2014/03/u-s-news-mba-rankings-for-2015/ http://www.veritasprep.com/blog/2014/03/u-s-news-mba-rankings-for-2015/#comments Tue, 11 Mar 2014 22:36:47 +0000 http://www.veritasprep.com/blog/?p=12780 U.S. News & World Report, which maintains arguably the most influential graduate school rankings in the world, has just released its new business school rankings for 2015. It’s far too easy for applicants to get caught up in the rankings, and to obsess over the fact that a school dropped three spots from one year to the next, but reality is that MBA rankings matter. They influence how recruiters look at schools, they serve as a signal to applicants and affect what caliber of applicants each school receives, and they give you an idea of where you stand relative to your target schools. You should never end your business school selection process with the rankings, but the reality is that you will probably start the process by seeing where schools sit in the MBA rankings.

Here are the top 25 American MBA programs according to U.S. News. Each program’s 2014 ranking (published in 2013) follows in brackets:

2015 U.S. News Business School Rankings

1. Harvard [1]
1. Stanford [1]
1. Penn (Wharton) [3]
4. U. of Chicago (Booth) [6]
5. MIT (Sloan) [4]
6. Northwestern (Kellogg) [4]
7. UC Berkeley (Haas) [7]
8. Columbia [8]
9. Dartmouth (Tuck) [9]
10. NYU (Stern) [10]
11. U. of Michigan (Ross) [14]
11. U. of Virginia (Darden) [12]
13. Yale [13]
14. Duke (Fuqua) [11]
15. U. of Texas (McCombs) [17]
16. UCLA (Anderson) [14]
17. Cornell (Johnson) [16]
18. Carnegie Mellon (Tepper) [19]
19. U. of North Carolina (Kenan-Flagler) [20]
20. Emory (Goizueta) [18]
21. Indiana (Kelley) [22]
22. Washington U. in St. Louis (Olin) [21]
23. Georgetown (McDonough) [25]
23. Notre Dame (Mendoza) [27]
25. U. of Washington (Foster) [24]
25. Vanderbilt (Owen) [30]

(Yup, 26 schools actually made the “Top 25″ in the U.S. News MBA rankings this year.)

What’s Changed Since Last Year?
Certainly, much of the chatter about this year’s MBA rankings will be about the fact that Wharton has edged into a three-way tie with Harvard and Stanford for the #1 spot. Also at the top, Chicago Booth managed to leapfrog MIT Sloan and Kellogg to take sole possession of the #4 spot. Despite some modest juggling, the same ten MBA programs that a year ago could say they were “top ten” schools are the same programs that can make this claim this year.

Outside of the top ten, Ross rose three spots to be just on the outside of the top ten, climbing from #14 to #11 (switching places with Duke’s Fuqua). Notre Dame’s Mendoza and Vanderbilt’s Owen climbed four spots and five spots, respectively, to break into the top 25. You can be sure that some champagne is popping in Indiana and in Tennessee this afternoon.

You can read more about 14 of the the most competitive business schools in Veritas Prep’s Essential Guides, 14 in-depth guides to the most elite MBA programs, available on our site. If you’re ready to start building your own MBA candidacy, call us at 1-800-925-7737 and speak with an MBA admissions expert today. And, as always, be sure to find us on Facebook and Google+, and follow us on Twitter!

By Scott Shrum.

]]>
http://www.veritasprep.com/blog/2014/03/u-s-news-mba-rankings-for-2015/feed/ 0
Average GMAT Scores for the Top 30 MBA Programs http://www.veritasprep.com/blog/2014/01/average-gmat-scores-for-the-top-30-mba-programs/ http://www.veritasprep.com/blog/2014/01/average-gmat-scores-for-the-top-30-mba-programs/#comments Thu, 30 Jan 2014 16:09:16 +0000 http://www.veritasprep.com/blog/?p=12361 Top 30 MBA Programs by GMAT Score There are a number of criteria by which you can rank MBA programs: Average starting salary after graduation, average undergrad GPA of incoming students, acceptance rate, student satisfaction, and academic reputation among peer schools are all measures that publications use to try to sort the schools and create a definitive ranking.

Beyond those measures, a very telling one is the average GMAT score of each business school’s incoming class. If you’re a business school applicant (or are just starting to think about applying) and are wondering “What are my chances at the top MBA programs?” a good first check is to look at the top schools’ average GMAT scores and to see how close you are. MBA admissions officers will be quick to tell you that they have no hard cut-offs for GMAT scores and that they look at the whole application when looking at an applicant, and this is true. If, however, you’re not even close to a school’s average GMAT score, then that’s a signal that your odds of getting in may be lower than you would like.

Here are the 30 American business schools with the highest average GMAT scores. Each school’s 2014 U.S. News rankings (published in 2013) follows in brackets:

30 U.S. MBA Programs with the Highest Average GMAT Scores
1. Stanford – 730 [1]
2. Harvard – 724 [1]
3. Chicago (Booth) – 719 [6]
4. NYU (Stern) – 719 [10]
5. Yale – 719 [13]
6. Pennsylvania (Wharton) – 718 [3]
7. Dartmouth (Tuck) – 718 [9]
8. Columbia – 716 [8]
9. UC Berkeley (Haas) – 715 [7]
10. Northwestern (Kellogg) – 712 [4]
11. MIT (Sloan) – 710 [4]
12. UCLA (Anderson) – 704 [14]
13. Michigan (Ross) – 703 [14]
14. Virginia (Darden) – 701 [12]
15. Wash U. (Olin) – 696 [21]
16. Vanderbilt (Owen) – 695 [30]
17. U. of Texas – Austin (McCombs) – 692 [17]
18. Notre Dame (Mendoza) – 692 [27]
19. Cornell (Johnson) – 691 [16]
20. UC Davis – 690 [40]
21. Duke (Fuqua) – 689 [11]
22. UNC (Kenan-Flagler) – 689 [20]
23. USC (Marshall) – 687 [26]
24. Carnegie Mellon (Tepper) – 686 [19]
25. Georgetown (McDonough) – 686 [25]
26. Minnesota (Carlson) – 686 [23]
27. Boston University – 684 [40]
28. Emory (Goizueta) – 681 [18]
29. U. of Wisconsin – Madison – 680 [34]
30. U. of Florida (Hough) – 678 [36]

On this blog we tend to spend a lot of time writing about the very top-ranked business schools (largely, of course, because those are the schools that our clients want to hear about), but some interesting schools show up when you rank programs by average GMAT score. MBA programs such as Vanderbilt, UC Davis, Boston University, and U. of Florida all draw a pretty impressive pool of GMAT test takers. Perhaps these schools don’t get enough love in the national rankings.

Again, don’t talk yourself out of applying to any of these business schools if you have a GMAT score that’s not close to these averages. And, don’t fool yourself into thinking you’re Stanford material simply because you have a 760 GMAT score; everything in your application really does matter, and while a strong GMAT score can keep you out of a top business school, it’s never enough alone to get you into a great school. Use this list as a gut check to see where you stand, and to see if you need to take another shot at the GMAT before crafting your business school application strategy.

How do you compare to students at the top MBA programs? Find out by taking a free computer-adaptive GMAT practice test. And, be sure to find us on Facebook and Google+, and follow us on Twitter!

By Scott Shrum.

]]>
http://www.veritasprep.com/blog/2014/01/average-gmat-scores-for-the-top-30-mba-programs/feed/ 0
U.S. News Business School Rankings for 2014 http://www.veritasprep.com/blog/2013/03/u-s-news-business-school-rankings-for-2014/ http://www.veritasprep.com/blog/2013/03/u-s-news-business-school-rankings-for-2014/#comments Tue, 12 Mar 2013 16:41:16 +0000 http://www.veritasprep.com/blog/?p=8892 U.S. News & World Report has just announced its 2014 business school rankings. While we never like to see applicants put too much emphasis on the rankings, it’s always a little exciting when U.S. News refreshes its rankings of the nation’s top MBA programs. Don’t solely decide to apply based on whether an editor at a magazine moved your target school down from 8th to 9th this year, but do take a look at the rankings — and, especially, the data associated with the rankings — to help you start to narrow down your list and get a feel for what kind of MBA program you have a shot of getting into.

Without further ado, here are the top 25 U.S. business schools according to U.S. News. Each school’s 2013 ranking (from 12 months ago) follows in parentheses:

2014 U.S. News MBA Rankings
1. Harvard (1)
1. Stanford (1)
3. Penn (Wharton) (3)
4. MIT (Sloan) (4)
4. Northwestern (Kellogg) (4)
6. Chicago (Booth) (4)
7. UC Berkeley (Haas) (7)
8. Columbia (8)
9. Dartmouth (Tuck) (9)
10. NYU (Stern) (11)
11. Duke (Fuqua) (12)
12. Virginia (Darden) (13)
13. Yale (10)
14. UCLA (Anderson) (15)
14. Michigan (Ross) (13)
16. Cornell (Johnson) (16)
17. Texas (McCombs) (17)
18. Emory (Goizueta) (19)
19. Carnegie Mellon (Tepper) (18)
20. UNC (Kenan-Flagler) (19)
21. Washington University in St. Louis (Olin) (22)
22. Indiana (Kelly) (23)
23. Minnesota – Twin Cities (Carlson) (30)
24. Washington (Foster) (35)
25. Georgetown (McDonough) (24)

What Changed?
Not a whole lot, at least not at the top of the rankings. The top five schools sit exactly where they sat last year, and the only change is that Booth, which had been in a three-way tie with Sloan and Kellogg for the #4 spot last year, dropped down to the 6th position. In the rest of the top ten, the biggest news is that Yale, which had been slowly marching up the rankings, dropped from #10 to #13. Elbowing its way into the top ten was Stern, which moved up one spot this year to #10.

There were a couple of big movers toward the bottom of the top 25: Take a look at the big jumps Carlson and Foster made this year, most likely the result of improved job placement statistics at those schools. Those are both great programs that don’t always get enough recognition outside of their local markets, so we’re glad to see them break into the top 25.

How Do the Business School Rankings Work?
The U.S. News rankings involve a blend of qualitative and quantitative ratings. 40% of a school’s overall score comes from assessments by business school leaders and by corporate recruiters. So, really, a large part of what they’re ranking is a school’s reputation, which can make the entire process a bit self-reinforcing. Even if a school makes dramatic improvements to every aspect of its program — from academics to job placement to alumni services — it can take years for these results to have a significant impact on these qualitative ratings. So, know that a large part of these rankings are essentially backward-looking… A school’s peer’s opinions of the program are shaped by what the schools have done over the past few decades (or more), not necessarily by what the school is doing right now.

Another 35% of an MBA program’s rating comes from more quantitative measures of the program’s success in placing job candidates, including mean starting salary and bonus data and the percentage of grads who have full-time jobs at graduation and three months after graduation. Once again, you should pay attention to what’s being ranked: A school that sends many more grads into investment banking will likely report a higher average starting salary than a school that sends many grads into the non-profit sector. That doesn’t invalidate the data, but keep this in mind as you look at these numbers.

The last 25% of a business school’s rating comes from other quantitative measures around the admissions process, including the mean GMAT score and undergraduate GPAs of the incoming class, and the school’s admissions rate. This is perhaps the most straightforward group of statistics, but keep in mind that schools are always trying to game the system and find ways to tweak these numbers to improve their rankings. (There have been a lot of these shenanigans lately, from Tulane’s MBA program to Claremont-McKenna’s undergraduate college.)

None of this means that the rankings aren’t useful. We all pay attention to them, and we will continue to do so as long as U.S. News, Bloomberg Businessweek, and other publications keep ranking graduate schools. But remember that they’re not the beginning and end of your business school research!

You can read more about the most competitive business schools in Veritas Prep’s Essential Guides, 14 in-depth guides to the most elite MBA programs, available on our site. If you’re ready to start building your own MBA candidacy, call us at 1-800-925-7737 and speak with an MBA admissions expert today. And, as always, be sure to find us on Facebook and Google+, and follow us on Twitter!

]]>
http://www.veritasprep.com/blog/2013/03/u-s-news-business-school-rankings-for-2014/feed/ 0
Financial Times Business School Rankings for 2013 http://www.veritasprep.com/blog/2013/02/financial-times-business-school-rankings-for-2013/ http://www.veritasprep.com/blog/2013/02/financial-times-business-school-rankings-for-2013/#comments Fri, 01 Feb 2013 20:26:21 +0000 http://www.veritasprep.com/blog/?p=8414 MBA Rankings 2012Earlier this week The Financial Times released its new global MBA rankings for 2013. For the first time in eight years, Harvard Business School sits atop FT’s rankings, ousting last year’s #1, Stanford GSB. Harvard’s return to #1 marks the fourth time the school has topped the FT rankings since they were first launched in 1999. In fact only three other schools have ever topped the Financial Times rankings: Stanford, Wharton, and London Business School.

One driver of Harvard’s rise is its improvement in FT’s diversity measure, which rewards schools for having a greater percentage of female and international students. While 34% of Harvard’s Class of 2013 comes from overseas, 43% of the Class of 2014 are international. This surely is a reflection of Dean Nitin Nohria’s goal to boost Harvard’s international influence and outlook.

Without further ado, here are the Financial Times’ top 20 global MBA programs for 2013:

1. Harvard Business School
2. Stanford GSB
3. University of Pennsylvania (Wharton)
4. London Business School
5. Columbia Business School
6. INSEAD
7. IESE Business School
8. Hong Kong UST
9. MIT Sloan
10. Chicago Booth
11. IE Business School
12. UC Berkeley (Haas)
13. Northwestern (Kellogg)
14. Yale SOM
15. CEIBS
16. Dartmouth (Tuck)
16. Cambridge (Judge)
18. Duke (Fuqua)
19. IMD
19. NYU (Stern)

Are you researching top business schools? Be sure to find us on Facebook and Google+, and follow us on Twitter!

]]>
http://www.veritasprep.com/blog/2013/02/financial-times-business-school-rankings-for-2013/feed/ 0
2012 Businessweek MBA Rankings http://www.veritasprep.com/blog/2012/11/2012-businessweek-mba-rankings/ http://www.veritasprep.com/blog/2012/11/2012-businessweek-mba-rankings/#comments Wed, 21 Nov 2012 15:11:20 +0000 http://www.veritasprep.com/blog/?p=7899 Bloomberg Businessweek has just released its business school rankings for 2012. Businessweek’s rankings aren’t the only game in town — the U.S. News business school rankings are also very influential, and others such as The Financial Times carry more clout in Europe — but the fact that Businessweek’s rankings only come out every two years always creates a little more buildup for this moment.

A word of caution before we proceed: When you look at any ranking system, remember that there’s no single “right” way to rank the schools. Each of the popular business school ranking systems below rely on a different set of criteria, including acceptance rates, average GMAT scores, and post-graduation salaries. Some also use more subjective criteria, such as peer ratings by administrators at other business schools, and how each school is rated by its current and former students. It’s therefore no surprise that no two ranking systems will completely agree with one another.

Without further ado, here are the top 25 U.S. business schools, according to Bloomberg Businessweek:

1. University of Chicago (Booth)
2. Harvard Business School
3. University of Pennsylvania (Wharton)
4. Stanford Graduate School of Business
5. Northwestern University (Kellogg)
6. Duke University (Fuqua)
7. Cornell University (Johnson)
8. University of Michigan (Ross)
9. Massachusetts Institute of Technology (Sloan)
10. University of Virginia (Darden)
11. Carnegie Mellon University (Tepper)
12. Dartmouth College (Tuck)
13. University of California at Berkeley (Haas)
14. Columbia Business School
15. University of Indiana (Kelley)
16. New York University (Stern)
17. University of North Carolina (Kenan-Flagler)
18. UCLA (Anderson)
19. University of Texas at Austin (McCombs)
20. University of Notre Dame (Mendoza)
21. Yale School of Management
22. Emory University (Goizueta)
23. Georgia Tech (Scheller)
24. University of Maryland (Smith)
25. Vanderbilt University (Owen)

Major Moves This Year
The very top of the list didn’t change dramatically this year, but the top 25 did include a few significant movers. Cornell’s Johnson School jumped six spots, from 13th in 2010 to 7th this year. Carnegie Mellon’s Tepper School jumped four spots, from 15th to 11th. Indiana’s Kelley School also jumped four spots, from 19th to 15th. Haas and Columbia suffered two of the largest drops, falling from 8th and 9th to 13th and 14th this year, respectively.

While each of these moves is nothing to get too excited about, it’s interesting to think about the underlying drivers. It’s not hard to imagine that, in Columbia’s case, continued softness in hiring by banks contributed to its own students only ranking Columbia 20th best among all schools. That’s just one example of knowing he “why” behind the rankings — and not just the rankings themselves — is critical as you research MBA programs

Want to get into one of these elite MBA programs? Call us at 1-800-925-7737 and speak with an MBA admissions expert today. And, as always, be sure to find us on Facebook and Google+, and follow us on Twitter!

By Scott Shrum

]]>
http://www.veritasprep.com/blog/2012/11/2012-businessweek-mba-rankings/feed/ 0
U.S. News MBA Rankings for 2013 http://www.veritasprep.com/blog/2012/03/u-s-news-mba-rankings-for-2013/ http://www.veritasprep.com/blog/2012/03/u-s-news-mba-rankings-for-2013/#comments Tue, 13 Mar 2012 14:11:22 +0000 http://www.veritasprep.com/blog/?p=6564 U.S. NewsToday U.S. News & World Report unveiled its 2013 business school rankings. As we always say, it’s easy to get too caught up in the rankings and obsess over details such as a school “plunging” from 8th to 11th in the rankings or “shooting up” from 14th to 10th. Of course the rankings will have some impact on your school research, but using them as any more than a useful starting point can lead you to apply to schools which don’t fit you as well as they could.

Still, we all love rankings, whether we’re talking about education, fashion at the Oscars, or best bands of all time. And we can’t help but pay attention when U.S. News releases its influential rankings of grad schools.

Without further ado, here’s a look at the top 20 U.S. programs as defined by U.S. News. Each school’s 2012 ranking follows in parentheses:

2013 U.S. News Business School Rankings
1. Harvard (2)
1. Stanford (1)
3. Penn (Wharton) (3)
4. MIT (Sloan) (3)
4. Northwestern (Kellogg) (5)
4. Chicago (Booth) (5)
7. UC Berkeley (Haas) (7)
8. Columbia (9)
9. Dartmouth (Tuck) (7)
10. Yale (10)
11. NYU (Stern) (10)
12. Duke (Fuqua) (12)
13. Michigan (Ross) (14)
13. Virginia (Darden) (13)
15. UCLA (Anderson) (14)
16. Cornell (Johnson) (16)
17. Texas (McCombs) (17)
18. Carnegie Mellon (Tepper) (18)
19. Emory (Goizueta) (23)
19. UNC (Kenan-Flagler) (19)

What’s Changed Since Last Year?
The biggest news starts at the top of the rankings, where Harvard moved into a tie with Stanford after being ranked #2 behind Stanford last year. Wharton, which had been tied with MIT Sloan for third place in the 2012 rankings, moved ahead of Sloan to take sole possession of the third spot this year. After that is a very tight cluster of schools, with Kellogg and Booth moving up from #5 to tie Sloan for fourth place.

The rest of the top ten looks quite similar to what it was last year, with some minor shuffling among Columbia, Tuck, and Stern (with Stern landing at #11 this year). Looking at the rest of the top 20 schools, the most notable move came from Emory, which managed to break into the top 20 after sitting at #23 last year. Falling out of the top 20 was Washington University in St. Louis (Olin), which landed at #22.

How Do These Rankings Work?
U.S. News relies on a mix of qualitative and quantitative ratings to compile its scores. 40% of a school’s overall score comes from assessments by business school leaders and by corporate recruiters. So, in a sense, a large part of what they’re ranking is a school’s reputation, which can make the entire process a bit self-reinforcing. Even if a school were to dramatically improve every aspect of its program — from academics to job placement to alumni services — it might take years for these results to have a significant impact on these qualitative ratings. Said another way, a large part of these rankings are essentially backward-looking… Their peer’s opinions of them are shaped by what the schools have done over the past few decades (or more), not necessarily by what the schools are doing right now.

Another 35% of a school’s rating comes from more quantitative measures of the program’s success in placing job candidates, including mean starting salary and bonus data and the percentage of grads who have full-time jobs at graduation and three months after graduation. Even here, be aware of what’s being ranked: A school that sends many more grads into investment banking will likely report a higher average starting salary than a school that sends many grads into the non-profit sector. That doesn’t invalidate the data, but keep this in mind as you look at these numbers.

The last 25% of an MBA program’s rating comes from other quantitative measures around the admissions process, including the mean GMAT score and undergraduate GPAs of the incoming class, and the school’s admissions rate. This is perhaps the most straightforward group of statistics, but keep in mind that schools are always trying to game the system and find ways to tweak these numbers to improve their rankings. (Example? Earlier this year a Claremont McKenna College official admitted to submitting fake SAT scores to U.S. News for years. Unfortunately, this is not very hard to do.)

None of this means that the rankings are bogus. We all pay attention to them, and we will continue to do so as long as U.S. News and other publications keep ranking graduate schools. But remember that they’re not perfect!

You can read about the world’s top business school in Veritas Prep’s Essential Guides, 15 in-depth guides to the world’s most competitive MBA programs, available on our site. If you’re ready to start building your own MBA candidacy, call us at 1-800-925-7737 and speak with an MBA admissions expert today. And, as always, be sure to find us on Facebook and Google+, and follow us on Twitter!

]]>
http://www.veritasprep.com/blog/2012/03/u-s-news-mba-rankings-for-2013/feed/ 0
Financial Times MBA Rankings for 2011 http://www.veritasprep.com/blog/2011/02/financial-times-mba-rankings-for-2011/ http://www.veritasprep.com/blog/2011/02/financial-times-mba-rankings-for-2011/#comments Tue, 01 Feb 2011 16:11:24 +0000 http://www.veritasprep.com/blog/?p=3960 MBA Rankings 2011The Financial Times has just released its new global MBA rankings for 2011. London Business School hangs on to the top spot, but Wharton has moved back into a tie for #1 after falling to #2 behind LBS last year.

Accompanying the rankings, FT release an update of its article called How to Choose a Programme, in which we’re quoted. As is always the case, we strongly advise that applicants don’t just go by the rankings when selecting their target business schools.

“Begin with the end in mind,” advises Scott Shrum, director of MBA admissions research at Veritas Prep in California. “Where have other students landed jobs? Call the careers office to find out which companies recruit at the school. If you’re an international student, find out how many of the recruiters are generally willing to sponsor work visas.”

As you whittle down your list of prospective schools, be sure to leave time for campus visits. Take a tour, sit in on a class, eat lunch in the dining hall, meet the professors and talk to students and alumni. “The best way to figure out whether a school is a good fit is to visit it,” says Shrum. “Most people know within the first hour whether they love a school or whether it’s just not clicking for them. The culture of the school is going to dictate how happy you are.”

Without further ado, here are the Financial Times’ top ten MBA programs for 2011:

1. London Business School
1. University of Pennsylvania (Wharton)
3. Harvard Business School
4. INSEAD
4. Stanford GSB
6. Hong Kong UST Business School
7. Columbia Business School
8. IE Business School
9. Massachusetts Institute of Technology (Sloan)
9. IESE Business School

Thinking about applying to the world’s top business schools, law schools, or medical schools this year? Be sure to find us on Facebook and follow us on Twitter!

]]>
http://www.veritasprep.com/blog/2011/02/financial-times-mba-rankings-for-2011/feed/ 2