We don’t like to overemphasize the importance of rankings, but we know that applicants are extremely interested in them. As such, let’s take a look at the US News and World Report Best Business Schools rankings for 2019 (ranked in 2018) today.
Booth went from #3 last year to #1 this year, tied with Harvard.
This is the first time Booth has been ranked #1 by US News and World Report. Comparing Harvard and Booth, the acceptance rate jumps out at you. Booth accepted 23.5% of applicants and Harvard 9.9%. The percentage of graduates employed at the time of graduation also stands out. Booth has one of the highest at 88%. The only school in the top 25 with a higher percentage is Ross-more on them later-with 89.7%. Side note: We don’t want to get too deep into employment statistics, but if having a job at the time of graduation, or getting one shortly thereafter is really important to you, check out the numbers reported for graduates employed 3 months after graduation. The highest percentage you’ll see in the top 25 is Foster at 98.1%-pretty impressive. For those of you who’d been solely focused on applying to and getting in to H/S/W, we hope this helps you open your mind to the value of applying to and the possibility of attending a school other than those 3.
Ross went from #11 last year to #7 tied this year, tied with Berkeley Haas.
Ross achieved a noteworthy rise in the rankings, cracking the coveted Top 10. Similar to my comment above, for those of you hyper focused on attending a school in the top 10, we hope this 1) helps you realize that the top 10 varies from year to year and 2) opens your mind to applying to schools outside of the top 10.
The difference between a school being ranked in the top 10 and not is pretty small. One year they may be in the top 10, the next year they may be out. Did the school change that much in 1 year? Probably not. Is the school still a great school? Most likely yes. There can be so much focus on a school being ranked in the top 10, but there are a number of excellent schools which hover right around the top 10 and even crack the top 10 (as they say) some years that as an applicant, you should make sure you don’t overlook them. So, while Fuqua, Yale, Stern and Darden aren’t in the top 10 this year, as you consider which schools to apply to, take a look at these schools as they are perennially near the top 10 and sometimes included, if that’s important to you.
What do you need to know?
One thing we noticed when we looked at the rankings was the average GMAT score. Scanning the rankings, it wasn’t until you got to #17 Tepper that the average GMAT score dipped below 700. Yikes! The average GMAT score at 5 of the top 6 schools (including the top 4 schools) was 730+. Wowza! Similar to rankings, we don’t want to place too much emphasis on the average GMAT score, but it’s worth noting that the average scores remain high and are continuing to go up for schools in the top 25. You’re probably wondering, what you can do about it? Check out these articles on the Veritas Prep blog or contact us so we can give you some free advice.
It’s pretty common knowledge that the top 7 schools are pretty consistent–thus the term M7. And everyone wants to go to Harvard, Stanford, and Wharton – thus the term H/S/W – even though Booth, Kellogg, or Sloan may be tied or ranked higher any given year. Outside of the top 7, though, call it 8 through 12, there can be movement and as such, one school may be in the top 10 one year and out the next.
We constantly remind applicants, rankings are only one factor to consider when selecting which schools to apply to. Regardless of which schools you decide are right for you, you’ll want to make sure you submit the strongest application you’re capable of. Contact us today to discuss your chances of admission to your target programs, to get answers to your questions, and to find out how we can help you get accepted to the school of your dreams.