MBA Ranking List
Business Week
There are many publications that develop and publish MBA ranking lists. In recent years, some of these lists have been criticized for not revealing their ranking criteria and for using inappropriate criteria. The fact that the same schools have been ranked differently on different lists has also been cited as a cause for concern. In fact, virtually any individual, magazine, or company can create MBA ranking lists. However, some are considered more reliable than others. Perhaps some of the most reputable lists in the world are the ones compiled every two years by Business Week. Those hoping to attend a top school frequently turn to this publication to provide them with timely and accurate information about the best MBA schools around.Owned by McGraw Hill, Business Week has been ranking American and international MBA schools since 1988. In recent years, they have also begun to rank part-time programs as well.
Business Week is quite open about the methods they use to rank programs. Surveys administered to recent graduates are an important part of the process. They are asked 50 questions, and they rate a variety of aspects of their MBA study, such as the quality of instruction they received while in attendance. Feedback from recruiters is also an important part of the ranking process. They answer a similar survey as the one presented to students, and also provide information about the overall quality of graduates that they met with and/or hired during the recruitment process. Finally, the frequency at which scholarly writings of professors appear in academic journals is analyzed, with 20 journals considered. Points are also given to schools based on the reviews of professors' books in prestigious publications like The New York Times.
In 2006, the Kellogg School of Management, which was ranked as the top business school since 2002, was replaced by the Chicago Graduate School of Business as the top full-time MBA school in the country. The Wharton School of Business was placed in the number two spot, while Kellogg fell to number three. Columbia and Stanford were ranked among the top ten schools in the nation.
The next Business Week ranking will focus on the graduating class of 2008. While positions on the list vary between years, it is important to note that the top positions on the list, for the most part, remain relatively stable. Therefore, consulting a recent list is a good way for applicants to ensure they are applying to a reputable and recognized institution.
