Business School Rankings
Business school rankings are based on a variety of criteria. Everything from acceptance rates to faculty members factor into ranking business schools. Since those involved in business have no qualifying exam such as the bar examination taken by prospective lawyers, a degree in Business rests on the prestige of the program from which it is earned. As a result, rankings play a strong role in the marketability of a business school and the degrees of it alumni.
The most popular business school rankings include U.S. News and World Report and BusinessWeek. The Forbes and Financial Times are also popular, but all focus on different criteria and as a result have varying results. The business school rankings of the U.S. News include both hard data and opinion polls that draw on the experiences of deans, faculty, program directors, and hiring professionals. BusinessWeek, however, bases its rankings on student surveys, corporate recruiter surveys, and a rating based on faculty size and publications – this rating is referred to as an intellectual capital rating. Forbes uses a mathematical equation based on the salaries of alumni from over one hundred business schools to decide their rankings. Financial Times has not only created a ranking of business schools based on alumni surveys and financial data but has also tabulated a ranking of rankings.
Lack of variation in these rankings has caused many to criticize ranking systems. However, they are still widely used by students to choose between programs. Business School rankings usually place the following programs in the top five:
- Harvard Business School
- Stanford Graduate School of Business
- Wharton School at the University of Pennsylvania
- MIT Sloan School of Management
- Kellogg School of Management at Northwestern University
Online Business Schools are now being offered from online colleges and prestigious universities. As a result of increasing perceptions of the programs and also the increasing number of online programs gaining accreditation, U.S. News, BusinessWeek, and other publications have begun ranking online business schools. The following have been highly rated:
- The University of Florida’s Warrington School of Business
- Drexel University’s MBA Anywhere
- Georgia WebMBA
- Thunderbird School of Business Management
When looking at business school rankings it is important to keep in mind the best business school is the one that suits each individual student. The Business School with the curriculum, faculty, and environment that fits is the one most likely to offer an enriching experience.