BW Ranks Best B-Schools for Hiring

Businessweek released a report on MBA job placement trends based on the hiring stats of BW‘s top 30 b-schools. Here’s a brief overview of the findings:

MBA Job Placement Trends

  • While MBA hiring has surged in the last year, those numbers are still not as strong as they were in 2007.
  • 12% of graduates at the top 30 business schools still had not received a job offer three months after graduation. (That’s one in eight jobless grads this year, compared to one in five last year.)
  • Graduates from 23 of the 30 schools reported starting salaries averaging $97,049. And fewer students are receiving signing bonuses.
  • 38% of schools saw in increase in on-campus recruiting, a sharp turnaround from the 2% increase seen by schools in 2009.
  • Schools that have shown the greatest bounce-back post-recession include HBS, Wharton, Northwestern Kellogg, and Chicago Booth.

Best MBA Job Placement of 2010 (Percentages represent students without job offers three months post-graduation, 2010/2009; dollar amounts represent median starting salaries, 2010/2009.)

Best 5

  1. Dartmouth Tuck: 3%/11%, $105,000/$105,000
  2. Georgia Institute of Technology: 3.2%/15%, $85,020/$85,000
  3. Harvard Business School: 5%/8.6%, $110,000/$114,400
  4. MIT Sloan: 5.2%/12.8%, $110,000/$110,000
  5. Columbia: 6%/14%, $100,000/$100,000

For these programs at least, the numbers are certainly heading in the right direction and are also impressively better than the overall employment picture.

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2010 MBA Rankings Released by Businessweek

 

Businessweek just released its biannual full-time MBA rankings. There were some minor shifts in this year’s U.S. top 30 compared to those of 2008, and some more significant changes in the international rankings, as you’ll see below.

Top 30 U.S. Business Schools of 2010 (2008 rankings are parenthetical.)

  1. Chicago Booth (1)
  2. Harvard Business School (2)
  3. Wharton (4)
  4. Northwestern Kellogg (3)
  5. Stanford GSB (6)
  6. Duke Fuqua (8)
  7. Michigan Ross (5)
  8. UC Berkeley Haas (10)
  9. Columbia (7)
  10. MIT Sloan (9)
  11. UVA Darden (16)
  12. Southern Methodist Cox (18)
  13. Cornell Johnson (11)
  14. Dartmouth Tuck (12)
  15. CMU Tepper (19)
  16. UNC Kenan-Flagler (17)
  17. UCLA Anderson (14)
  18. NYU Stern (13)
  19. Indiana Kelley (15)
  20. Michigan State Broad (2T)
  21. Yale SOM (24)
  22. Emory Goizueta (23)
  23. Georgia Tech (29)
  24. Notre Dame Mendoza (20)
  25. Texas-Austin McCombs (21)
  26. USC Marshall (25)
  27. Brigham Young Marriott (22)
  28. Minnesota Carlson (2T)
  29. Rice Jones (NR)
  30. Texas A&M Mays (NR)

Top International Business Schools

  1. INSEAD (3)
  2. Queen’s (1)
  3. IE Business School (2)
  4. ESADE (6)
  5. London Business School (5)
  6. Western Ontario Ivey (4)
  7. IMD (7)
  8. Toronto Rotman (8)
  9. York Schulich (2T)
  10. Cambridge Judge (2T)
  11. McGill Desautels (2T)
  12. IESE (9)
  13. Cranfield (NR)
  14. HEC Paris (2T)
  15. HEC Montreal (HR)
  16. Oxford Said (10)
  17. Manchester (2T)
  18. SDA Bocconi (NR)

BW bases its rankings on employer and student surveys, as well as what they call “intellectual capital,” or school research output. For more information on how the rankings are determined, read BW‘s How We Rank Business Schools.”

Other articles in the report that may interest you include:

  • The Best U.S. Business Schools 2010” – This article highlights ways that business schools are dealing with the sour job market—putting a new emphasis on job placement, reaching out to alumni for job leads, using technology to connect with recruiters, and bolstering career services departments.
  • Top Global Business Schools” – Read about how the Great Recession has affected the international MBA scene, why new schools have popped up on the top 10, why students are being drawn to emerging markets, and more.

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Financial Times Unveils EMBA Ranking Report

There are a number of interesting articles, charts, and maps included in the Financial Times‘ latest Executive MBA rankings “package.” We’ll share some highlights here, and point you in the right direction for further reading/viewing.

Let’s start with the actual rankings.

Top 15 International EMBA Programs

1.   Kellogg / Hong Kong UST Business School – China

2.   Columbia / London Business School – USA / UK

3.   Trium HEC Paris / LSE / NYU Stern – France / UK / USA

4.   INSEAD – France / Singapore / UAE

5.   University of Chicago, Booth – USA / UK / Singapore

6.   London Business School – UK

7.   IE Business School – Spain

8.   University of Pennsylvania, Wharton – USA

9.   Duke University, Fuqua – USA

10.  Chinese University of Hong Kong – China

10.  City University Cass – UK

12.  IMD – Switzerland

13.  UC Berkeley Haas / Columbia – USA

14.  Kellogg / WHU-Otto Belsheim School – Germany

15.  Columbia Business School – USA

15.  ESCP Europe – France / UK / Germany / Spain / Italy

You can tell simply by looking above where the EMBA “hot spots” are—the USA, UK, China, Singapore, Paris, France, and Spain—or you can take a look at the FT‘s interactive map: Hot spots: the most popular cities in the world for Executive MBAs.

For an analysis on how the rankings were determined, check out “The ranking decoded.”

For an explanation on the challenges business schools face with this executive degree, see the lead article in the report, “Business schools face EMBA challenge.” (Just to give you clue—it has something to do with the economy and companies becoming less than willing to shell out $100,000+ in sponsorship funds. Surprise, surprise.)

Yet challenges aside, many EMBA programs (especially those in countries that have been, until recently, underserved by business schools) are seeing an increase in enrollment. For more on EMBA success, read “Rising demand: executive MBA sector shows healthy growth.”

 

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Top B-School Admissions Get Easier, for Some

A Businessweek article reports on the drop in selectivity among top business schools including Michigan Ross, Cornell Johnson, UCLA Anderson, Indiana Kelley, and Maryland Smith. These schools all admitted a higher percentage of applicants in 2010 than they did in 2008, when b-school application numbers peaked. Some say that the drop in applications since the boom two years ago has forced b-schools to be less particular when choosing their future students.

Of course, each school will attribute its recent drop in selectivity to different causes. Michigan Ross, for example, opened a new building which allows for a larger class, thus allowing the adcoms to accept more students this year than in the past.

University of Maryland’s Smith School of Business, the school that reported the greatest selectivity decrease among the top 30, attributes its drop to “better marketing.” The school also increased its class size by 22% this year.

Randall Sawyer, assistant dean of admissions, financial aid, and inclusion at Cornell’s Johnson School, states that the program’s decrease in selectivity is due to the increase in the quality of applicants. “Candidates are getting smarter about where they apply,” he says, “giving admissions committees fewer but better choices.”

Some programs, on the other hand, are bucking the drop-in-selectivity trend. While some schools are expanding their class size, some are decreasing it. Georgia Institute of Technology’s College of Management is one such example of a program that decreased its class size; 38% of applicants were admitted in 2005, but only 20% in 2010.

Other schools that have reported higher selectivity or no changes include Chicago Booth, Harvard Business School, Notre Dame Mendoza, and Northwestern Kellogg.

And of course this article reflects last year’s application stats. This year both Cornell and Ross happily report that their first round application volume has headed north in comparison to last year’s round 1.

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2010 Wall Street Journal EMBA Rankings

Last week the Wall Street Journal released its 2010 EMBA rankings. The lead article describes the evolving face of the executive MBA. The needs of the EMBA student are changing as many are paying their own tuition and are looking to switch careers, as opposed to advancing within the same career; and the programs themselves are under pressure from whatever sponsors there still are to show “more in the way of a clear return on their investment.”

The WSJ EMBA rankings data was gathered from the responses of 3,060 recent graduates of 87 EMBA programs (64 business schools) in 18 different countries, as well as the responses of 189 executive development managers and corporate human resources managers.

One new element taken into account for the 2010 rankings was the question of why students chose to attend an EMBA program. 35% said their top reason was to help them switch careers or industries. Only 29% said they were seeking a promotion within their current company. Traditionally, this latter reason has been the primary motivation for pursuing an EMBA.

Another WSJ article, titled “Peer to Peer,” reports the high percentage (78%) of EMBA graduates who said that the “perceived quality of classmates” was a crucial factor in choosing an EMBA program. When more than 50% of course work is done in teams, who you’re working with can be just as important as who the professors are. Peer to peer learning in EMBA programs is extremely high, which is why “a variety of high-caliber students from different industries” is so important.

Rather than highlight the top 25 as listed in the Wall Street Journal, we’re going to show here an excellent comparison chart that was published in Poets & Quants that shows how the WSJ rankings compare to the EMBA rankings of Businessweek (BW), Financial Times (FT),  U.S. News (USN), and the WSJ rankings from 2008:

WSJ 2010 Rank & School WSJ 2008 BW FT* USN
1.  Pennsylvania (Wharton) 2 3 5 1
2.  Washington Univ. (Olin) NR ST 12 NR
3.  Thunderbird (Arizona) 3 ST 45 NR
4.  Southern California (Marshall) 4 5 NR NR
5.  Northwestern (Kellogg) 1 1 17 2
6.  Notre Dame (Mendoza) NR 20 NR NR
7.  NYU (Stern) 14 14 15 6
8.  Cornell (Johnson) 7 ST NR NR
9.  Columbia Business School 8 4 9 5
10.  UNC (Kenan-Flagler) 5 11 NR 10
11.  UCLA (Anderson) 17 8 28 9
12.  Texas-Austin (McCombs) 15 ST 55 NR
13.  Arizona State (Carey) NR NR 43 NR
14.  Illinois-Urbana-Champaign NR NR NR NR
15.  Michigan (Ross) 6 7 20 8
16.  Chicago (Booth) 9 2 4 3
17.  Ohio State (Fisher) 21 15 69 NR
18.  Cornell/Queen’s University NR 25 NR NR
19.  Rice (Jones) NR ST 39 NR
20.  Boston University NR 23 NR NR
21.  Rutgers University 20 NR 46 NR
22.  Maryland (Smith) NR NR 50 NR
23.  Berkeley (Haas) 12 NR 13 7
24.  IE Business School (Spain) NR 7 7 NR
25.  Vanderbilt (Owen) 19 NR NR NR

ST: The school’s program was named in the “second tier” by BusinessWeek in its latest 2010 ranking of Executive MBA programs.

NR: The schools program was not ranked.

* The Financial Times EMBA ranking was published in 2009. The 2010 survey is expected to be released in October.

Visit the WSJ website for the “sortable rankings chart” and an explanation of the ranking methodology.

Not sure what the rankings mean to you? How much should you take them into account when applying to b-school? Download Accepted’s special ranking report now to learn about how the rankings affect you.

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Free B-School Info: Check Out our Online Q&A Transcripts!

If you’ve been following our events schedule, you’ll know that we’re already well into our fall 2011 Q&A season. We’ve had valuable question and answer sessions with admissions directors from four top business schools so far – UC Berkeley Haas, Chicago Booth, Northwestern Kellogg, and UCLA Anderson.

If you’re considering applying to any of these schools (or any schools in our forthcoming chats), then these sessions are must-attend events. Of course, if you do miss out on a live Q&A session, or if you simply wish to review what you’ve heard, then these Q&A transcripts and audio clips will become your new go-to guides. Each one provides indispensable information that will help you get better acquainted with your target programs, and ultimately demonstrate fit with them.

Here’s a sampling of what’s been going on so far:

UC Berkeley Haas Q&A with Sephanie Fujii

Linda Abraham: Okay. Stephanie, Scott asks, “How does the admissions team view layoffs in regards to a candidate’s application? Is it something that needs to be addressed or is it understood that layoffs are often out of the hands of the candidate?

Stephanie Fujii: Oh, certainly. I think especially given the past couple of years, we’ve definitely seen that. You know, it’s something that if it happens, certainly tell us. I think as a general rule for our application — don’t leave any questions unanswered because we will make up answers and we can be quite creative in it and it won’t always be in the applicant’s favor. So just make sure that you are answering any questions that we might have.

With layoffs, we understand — especially in certain sectors who’ve been hit really hard. What we’re interested in is what you have been doing with your time since that layoff. I think especially for people who are thinking about switching careers, are you involved in activities? Have you done things that will really help you move in that direction? But I think honesty, and being upfront about anything that we might have questions about — that’s very important.

Chicago Booth Q&A with Kurt Ahlm and Julie Morton

Linda Abraham:: What is the difference between applying round one versus round two from the admissions committee perspective? I know the answer is apply when you’re ready but what does the round that someone applies in signal to you?

Kurt Ahlm: Sure, to be candid, I mean, our hope is you’re applying, again, when you feel that you’re most ready. So we don’t really extrapolate anything else from it and honestly those rounds are equally competitive. So if you try to put yourself in our shoes to think about what we might be thinking if you apply round one and round two, we’re just trying to pull the best people we possibly can from the entire process and in order to do that, in order to be one of those people you really want to put in your best possible application. So I would say, again, take the time that you need to put your best foot forward and hopefully you’re successful and that’s really the only way I would look at it.

Northwestern Kellogg Q&A with Beth Flye and Carla Edelston

Linda Abraham: When you are evaluating applications, what puts one applicant in the admit pile and others in the rejected or wait-listed pile?

Beth Flye: Wow, big question. You know, honestly, it really comes back to quality. And our approach is very holistic, meaning we’re not anchoring on a certain GMAT score, a certain GPA. We’re not anchoring on a specific number of years of work experience. Really it comes back to looking at all of the criteria, collectively. And you know, the other thing is taking into account what the quality of the overall applicant pool is at that particular point in time. How does round one look? And then we get into round two. What is that pool looking like in comparison to round one? I would say that when we, philosophically speaking, when we do give a decision, one of these three decisions is usually for more than one particular reason. You know, when we admit somebody, it’s for a broad number of reasons, that we think that person is a very high quality candidate. Just as when we typically deny someone, there’s usually more than one thing that was not as up to par on their application as we would have liked to have seen. And then lastly I would say with the wait list in particular, we wait-list for different reasons. Sometimes, we may want to just hold off making a decision because we want to see more of the applicant pool. There may not be anything in particular about that application that is weak. But we may decide that we just need to see more candidates to help us make a final decision. Oftentimes, we will also wait-list someone because we were wanting additional information, whether it’s a new test score, or a grade from a class that they indicated that they were taking. But the one thing I would like to comment about Kellogg’s wait-list is, to be wait-listed is not a negative thing at all, you are still in the running for admission.

UCLA Anderson Q&A with Mae Jennifer Shores and Jessica Luchenta

Linda Abraham: The next question is from Riya. She asked, “What do employers like most about UCLA Anderson graduates?”

Jessica Luchenta: What I would say goes back to your earlier point Linda, that you made about Anderson students known for collegiality. And so I think that Anderson grads are known for being extremely sharp, very well prepared and well educated during their time here. We have a very challenging and rigorous curriculum that prepares them for all the different issues that they face in a business environment. Our students are also incredibly broad in terms of their experience. Because our program is so diverse, all of our students are coming from various academic and professional backgrounds, they really learned well how to work with an incredibly diverse group of people during their two years here. And that translates well into the business and workplace environment after the MBA. So much of what we do here at Anderson is team based, that our graduates fit right in when it comes to team based office environments. And they are known for knowing how to martial resources and get the job done and be successful. But at the same time, maintaining that sense of community and support and working together that is really the hallmark of our student culture.

Mae Jennifer Shores: To add to Jessica’s comment, we see a broader diversity of people coming into the student body each year than you see in a lot of schools. There is not as much of this herd mentality of people coming primarily from a couple of key industries. Because of that, our students were exposed to a huge set of diverse disciplines among their classmates. And the fact is that all of you may tell us that you know what you want to do, coming into an MBA, but very few of you actually know what you want to do. So this exposure actually prepares you for a variety of careers. So when you do shift gears, maybe change careers or focus during the program, you are a little more nimble and able to adapt to some new areas and have exposure to it, rather than having a change that seems quite so radical to the employer.

Like what you see? Subscribe to Accepted.com’s event list to stay current with the latest Q&A sessions and other admissions events!

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Economist MBA Rankings Released!

According to The Economist, this year’s rankings are “probably the most turbulent” in its nine year ranking history. How schools have responded to the difficult job market has greatly affected their position in the rankings since career opportunities for graduates and salaries of graduates account for 55% of The Economist‘s rankings.

This year, Chicago Booth took the cake with the number 1 slot, at least in part, if not entirely, because of its top-ranked career service department. (The $300 million donation by David Booth in 2008 helped the school achieve this goal, something most schools haven’t been able to accomplish in this economy.)

Here are the top ten full-time international MBA programs (2009 rankings in parentheses):

1. Chicago Booth (4)

2. Dartmouth Tuck (6)

3. UC Berkeley Haas (3)

4. Harvard Business School (5)

5. IESE Business School (1)

6. IMD (2)

7. Stanford GSB (7)

8. Wharton (9)

9. HEC School of Management (14)

10. York Schulich (12)

 

Click here to view school rankings by category.

 

For more information on how these schools were chosen, check out the Methodology section of The Economist‘s report.

Meanwhile, a Poets & Quants article on The Economist rankings (“The Economist’s Roller Coaster MBA Ranking“) points to the fact that the this year’s rankings are slightly flawed, mainly in that the job/salary data was gathered from the class of 2009, not the latest graduating class of 2010. The 2010 data, which won’t be ready for a few weeks, would have presented a much more current and fair perspective on how b-school graduates are actually doing job/salary-wise, especially since the economy has improved in the last year.

The P&Q article refers to a number of “roller coaster-like” jumps and plummets, including:

  • UVA Darden “leapfrogged” 13 spots from last year’s 24th spot to this year’s 11th.
  • Columbia moved up 8 spots from 20th to 12th.
  • CMU Tepper jumped 22 spots from 33rd to 21st.
  • London Business School ranked the third best in the UK, a shock that came to most people, especially given its number 1 placement by The Financial Times. According to The Economist, LBS is ranked lower than the Cranfield School of Management and Henley Business School.

P&Q states that of the five major MBA rankings (U.S. News, Businessweek, Forbes, Financial Times, and The Economist), “the Economist‘s methodology is considered the least credible.”

Not sure what the rankings mean to you? How much should you take them into account when applying to b-school? Download Accepted’s special ranking report now to learn about how the rankings affect you.

 

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Chicago Booth MBA Admissions Q&A w Kurt Ahlm, Julie Morton

It’s this Monday!

Don’t miss out on this exceptional opportunity to interact with Chicago Booth’s new Senior Director of Admissions and Associate Dean of Career Services.

Challenge Everything: Chicago Booth MBA Admissions Q&A with Kurt Ahlm, Senior Director of Admissions and Julie Morton, Associate Dean of Career Services, on Monday, September 13, 2010 at 10:00 AM PT / 1:00 PM ET / 5:00 PM GMT.

Register ASAP to reserve your spot.

Mark Your Calendars – 2 New Q&As Coming Your Way!

Accepted’s Q&A season is off to a flying start. Our Haas Q&A launched the season, proving our new GoToWebinar format successful. Next in line are the following two sessions:

  1. Challenge Everything: Chicago Booth MBA Admissions Q&A with Kurt Ahlm, Senior Director of Admissions and Julie Morton, Associate Dean of Career Services, on Monday, September 13, 2010 at 10:00 AM PT / 1:00 PM ET / 5:00 PM GMT.
  2. Curious about Kellogg? Admissions Q&A with Carla Edelston, Senior Associate Director of Career Management, on Thursday, September 16, 2010 at 10:00 AM PT / 1:00 PM ET / 5:00 PM GMT.

If you have questions about either of these business schools, then you won’t want to miss these opportunities to hear what their top admissions directors have to say about admissions, leadership, values, school culture, and more!

Register now to reserve your spot for the Booth Admissions Q&A!

Register now to reserve your spot for the Kellogg Admissions Q&A!

Hurry – spots are limited!

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MBA Admissions News Roundup: New Test Prep, NYU Stern Application Tips, and New B-School Rankings for Consulting

  • Test prep companies have a busy season ahead of them; test prep traffic is bound to increase as future b-school applicants scramble to prepare for the Next Generation GMAT, reports a Businessweek article, “GMAT Test Prep: Changes on the Way.” The new GMAT, which will launch in 2012, will include a new integrated reasoning section in which test takers must analyze data and draw conclusions using multiple data sources. This BW article highlights some of the changes top test prep courses plan to make in the next years in response to the GMAT’s new section.
  • Applicants planning on applying to NYU Stern should check out Businessweek‘s latest Admissions Q&A on NYU with Anika Davis Pratt, Stern’s assistant dean for MBA admissions and financial aid. Wondering if you’re a fit with NYU’s prestigious program? According to Pratt, this is what they’re looking for: “While our academic program is certainly rigorous, and we certainly seek students who are bright and accomplished, intellectually curious, and who will excel in the classroom, we also place a very high value on emotional intelligence and strong interpersonal skills. We attract students who are forward-thinking and student who really want to have an impact right away.” Check out BW’s article for tips that could help you improve your chances of getting into NYU Stern. (Or contact us — we could help you with that too!)
  • A new Poets & Quants article, “In Consulting, Which B-School is No. 1?,” John Bryne lists the top b-schools for consulting, in general and in individual cities, based on a new survey by Vault.com. Here are the results (see his article for his commentary — he doesn’t completely agree with Vault’s methodology):

Top 10 Schools for Consulting:

  1. Northwestern Kellogg
  2. Harvard Business School
  3. Chicago Booth
  4. Wharton
  5. Michigan Ross
  6. Columbia
  7. Duke Fuqua
  8. MIT Sloan
  9. Stanford
  10. NYU Stern

Top 3 B-Schools for Consulting in New York

  1. HBS
  2. Columbia
  3. NYU Stern

Top 3 B-Schools for Consulting in Boston

  1. HBS
  2. MIT Sloan
  3. Dartmouth Tuck

Top 3 B-Schools for Consulting in Washington, D.C.

  1. UVA Darden
  2. Wharton
  3. Northwestern Kellogg

Top 3 B-Schools for Consulting in Atlanta

  1. Emory Goizueta
  2. HBS
  3. Duke Fuqua

Top 3 B-Schools for Consulting in Silicon Valley

  1. UC Berkeley Haas
  2. MIT Sloan
  3. Michigan Ross

Note the role of geography in determining top schools in specific regions. Something to keep in mind if you know where you want to live.

Related Accepted.com Resources:

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