Forbes Announces Top Ten Business Schools

  

Forbes has just released its list of the top business schools in America. The Forbesranking methodology is based on the return on investment achieved by the class of 2006. They surveyed 16,000 alumni at over 100 schools and received feedback from 30% of those grads. They then compared the earnings of the respondents from 2006-2011 to the cost of business school.

While Forbes lists 74 top schools, the top ten are:

  1. Harvard
  2. Stanford
  3. Chicago (Booth)
  4. Pennsylvania (Wharton)
  5. Columbia
  6. Dartmouth (Tuck)
  7. Northwestern (Kellogg)
  8. Cornell (Johnson)
  9. Virginia (Darden)
  10. MIT (Sloan)

Poets and Quants analyzes the Forbes’ data in terms of winners and losers, those who went up in the Forbes’ rankings and those who went down; it provides a useful table comparing the salary data by school to previous years’ salary data.

Of greater interest to me is the overall profitable MBA picture presented by the Forbes data: every single program in the top 74 has positive ROI, admittedly less in more expensive locales and a few in single digits, but the overwhelming majority showed a greater than 20% gain after five years. And that’s despite the recession.

So for those of you who have professional goals that require an MBA, it looks like a solid investment.   

Linda AbrahamBy , President and Founder of Accepted.com

 

find-out-which-b-schools-are-best-with





A Few of the Mostest at Accepted.com

This is the time of year to look back at the most, best, (worst), etc. I am going to stick to the positive.

Top Ten Most Visited Accepted Admissions Almanac Posts of 2010:

In a nutshell, rankings and application tip posts rule. (I am only listing the current tip post when last year’s tip post also made the list):

  1. Financial Times Global 2010 MBA Rankings
  2. Forbes ROI MBA Rankings for 2010
  3. Harvard HBS 2011 MBA Application Questions, Deadlines, Tips
  4. INSEAD 2011 MBA Application Questions, Deadlines, Tips
  5. NYU Stern 2011 MBA Application Questions, Tips, Deadlines
  6. Common Application Essay Tips
  7. Columbia 2011 MBA Application Questions, Deadlines, Tips
  8. 2010 MBA Rankings Released by BusinessWeek
  9. Kellogg 2011 MBA Application Questions, Deadlines, Tips
  10. London Business School 2011 MBA Application Questions, Deadlines, Tips

Three Most Commented Accepted Admissions Almanac Posts of 2010

  1. Harvard HBS 2010 MBA Application Questions, Deadlines, Tips (269)
  2. INSEAD 2010 MBA Application Questions, Deadlines, Tips (246)
  3. INSEAD 2011 MBA Application Questions, Deadlines, Tips (60)

Keep ‘em coming! (Please post your questions about this year’s applications on this year’s tips.)

Five Most Popular Articles on Accepted.com of 2010:

  1. Go for the Goals in your Statement of Purpose
  2. Tips for Writing Letters of Recommendation for Medical School
  3. 4 Must-Haves in Residency Personal Statements
  4. MBA Admissions: Low GMAT or GPA 
  5. Sample MBA Interview Questions

Most Popular Resources of 2010:

Our Absolute, Best, Most Superlative Asset: YOU, our readers, followers, fans, subscribers, and most of all, our clients.

On behalf of Accepted’s staff, this post is where I

Thank you, all of you Acceptees, for making 2010 our best year ever!

By Linda Abraham, President and Founder of Accepted.com.

Columbia University’s Application: Tips to Compel

When I was a high school student, my parents agreed that I could apply to any colleges I wanted, with the exception of those in California and New York City.  Consequently, I didn’t set foot on Columbia’s campus until more than a decade later.  Among both fellow Ivies and its New York City brethren, Columbia stands out.

The integration of a strong campus center (the vast majority of students live on campus for four years) with the accessibility of the city as well as Columbia’s commitment to its core curriculum give this college a feeling that is unique from others.  With so many distinguishing features, you should be able to convey to the admissions committee your interest in Columbia.  For applicants to the Fu School of Engineering, there is also a question which asks about the roots of that interest.   In both cases, take a sentence or two to relate your own experience to the strengths of the college.   If you are struggling with this question, consider attending one of Columbia’s evening programs which are held throughout the country.  

The questions about your interests, which ask you to list books, concerts, media that you have enjoyed over the past year are looking for fairly straightforward responses.  The commitment to the arts, which is a large component of the Columbia College Core Curriculum, is evident from the application question about concerts and art exhibits.  As an academically engaged student, there should be plenty of media and arts which have captured your attention in the past year.  Share both the mundane and the more interesting.  If you have a strong interest in a subject area, chances are your reading interests at least peripherally relate.  

Columbia is a member of the Common Application, and does offer an early decision program for students who are confident that Columbia is their first choice.

 By Whitney Bruce, who has worked in college admissions since 1996. She has served as an Senior Assistant Director of Admissions (Washington U), Application Reader (University of Michigan), Assistant Director of College Counseling (private prep school in St. Louis), and an independent college counselor. She is happy to advise you as you apply to college.



Columbia Full-Time MBA: A Current Student Interview

Accepted.com is continuing a blog series featuring interviews with current MBA students, offering readers a behind-the-scenes look at selected MBA programs. We hope to offer you a candid picture of student life, and what you should consider as you prepare your MBA application.

Our first stop?  New York City. Here are some excerpts from an interview with a current full-time Columbia MBA student from a finance background.

What’s the best way to plan for the two years so that you get the most out of it?
Point blank, you gotta know what you want to do. Especially now in this recession economy. I had a lot of friends who came into school with the assumption they would figure out their career plan in their first year–and they were left behind.  School starts in August, and recruiting starts in September.  It’s over very quickly and if you don’t get an internship, you’re not going to get a full-time offer.  So if you don’t know what you want to do, you might want to defer your plans to apply.

How close did you stick to your originally stated goals from your application?
My goal was to get into Columbia, and my second goal was to get into the value investment program.  So I followed my goals to the “T.”

So you were pretty focused on finance.  That’s been a good match for you at Columbia?
Absolutely. I came specifically for the value investment program, which you’re allowed into through interviews and write ups.  It’s an entire second-year specialization that allows direct access to industry practitioners.

What about the New York location?  How did that affect your experience?

It’s absolutely tremendous. Really, in any field the opportunities are in New York City. If you’re an investment banker you have access to Wall Street, such as morning phone calls with all the investment banks. Your professors are multimillionaires who’ve made it on Wall Street. One of them made phone calls on my behalf at internship time, which I thought was unheard of.  So the dedication of their time–from an internship standpoint it’s invaluable.

Any trade-offs?

I have a 600 sq. foot apartment without a second bedroom or even a desk to study. It’s not nice if you’re working your tail off and you have a wife who doesn’t think you’re paying enough attention to her and you have no place to get your studying done. I would chose to live close to school or the library.

What did you find out the school offers that you couldn’t find out from the website or an information session?

I guess the good access to the professors.  I was going through job recruiting and I was reached out to by multiple professors who said they would put out in a good word for me.  They will put out their neck out for you.  It was really something I didn’t anticipate.

What kind of leadership training or mentoring do you receive at Columbia?

Every class in the core curriculum now has a portion dedicated to leadership training, such as ethical decision making. All clubs have individual mentorship programs. And in the value investment program, which is opened to 30 people a year, those who make it into the program have a mentor matched up to them for their desired work location in the future.

How much help has career services been to you?  How much job search have you had to do on your own?
Career services is instrumental in setting up resume critiques, mock interviews, and actual meet-ups. But I think the most important part of the Columbia experience is the clubs.  The real vital knowledge about internships and connections is in the clubs.

Can you tell me about your best day so far on campus?

Making it through the interviews for internships and getting an internship offer. You go through 5 to 7 interviews a day, that can last an hour and a half, where you pitch your stuff and it gets pretty intense.  But it was worth it in the end when I got good news.

The challenges?

The unavoidable part is definitely choosing between your significant other, socializing, making good grades, and your career search.  You can really only do three at the most and usually it’s best to stick to two out of the four.  You need to really map out your plan about what you’re okay letting go of and where you really want to focus your time, then stick too it–or you’re not going to make anybody happy. I had a professor say that everybody likes hot tea and iced tea, but nobody likes tepid tea.  You don’t want to be tepid.  You have to decide where you’re really going to excel.

Last words of advice?

Know what you want to do before you get here. A lot of people are very focused. Competition is tough, so executing a well-thought out plan will get you ahead.

 Interview conducted by Michelle Stockman, who worked in the Columbia Business School admissions office, has a Masters in Journalism from Columbia, and has assisted Accepted.com clients applying to top business schools since 2007.  She is happy to help you with your application.


Financial Times Global 2010 MBA Rankings

The Financial Times  published today its 2010 ranking of global MBA programs. Its ranking attempts to “assess the effect of the MBA on … subsequent career progression and salary growth.” Consequently it draws its data from the schools themselves and from surveys of graduates at least three years after earning their MBA degree. In building its rankings, FT analyzes “alumni salaries and career development; the diversity and international reach of the business school and its MBA programme; and the research capabilities of each school.” For complete information on FT’s methodology, please see “Getting to Grips with the Method.”

Rather than list all my important caveats for using rankings, I’ll simply refer you to our MBA Rankings Report.

The best business schools according to FT:

  1. London Business School
  2. University of Pennsylvania: Wharton
  3. Harvard Business School
  4. Stanford GSB
  5. INSEAD
  6. Columbia Business School
  7. IE (tied with Columbia)
  8. MIT Sloan
  9. Chicago Booth
  10. Hong Kong UST Business School

I have long argued that far more valuable than the overall rankings are the specialty rankings. Here are FT’s specialty rankings:

Top for international business
1 Thunderbird School of Global Management
2 University of South Carolina: Moore
3 Georgetown University: McDonough
4 Insead
5 George Washington University
6 Hult International Business School
7 IMD
8 Manchester Business School
9 University of Southern California: Marshall
10 London Business School

Top for finance
1 University of Chicago: Booth
2 New York University: Stern
3 University of Pennsylvania: Wharton
4 Rice University: Jones
5 University of Rochester: Simon
6 London Business School
7 Columbia Business School
8 Macquarie Graduate School of Management
9 University of Iowa: Tippie
10 University of Toronto: Rotman

Top for accountancy

1 Brigham Young University: Marriott
2 University of Chicago: Booth
3 University of Texas at Austin: McCombs
4 New York University: Stern
5 Macquarie Graduate School of Management
6 University of Rochester: Simon
7 Cornell University: Johnson
8 University of Pennsylvania: Wharton
9 Rice University: Jones
10 Texas A & M University: Mays

Top for entrepreneurship
1 Babson College: Olin
2 Stanford University GSB
3 Imperial College Business School
4 UCLA: Anderson
5 University of California at Berkeley: Haas
6 MIT Sloan School of Management
7 University of Cambridge: Judge
8 IMD
9 Wisconsin School of Business
10 Insead

Top for economics
1 University of Chicago: Booth
2 Cranfield School of Management
3 MIT Sloan School of Management
4 Yale School of Management
5 University of Rochester: Simon
6 Imperial College Business School
7 Melbourne Business School
8 University of Pennsylvania: Wharton
9 IE Business School
10 New York University: Stern

Top for corporate social responsibility
1 University of Notre Dame: Mendoza
2 University of California at Berkeley: Haas
3 Yale School of Management
4 Ipade
5 University of Virginia: Darden
6 Brigham Young University: Marriott
7 Esade Business School
8 University of Michigan: Ross
9 University of North Carolina: Kenan-Flagler
10 Thunderbird School of Global Management

Top for general management
1 University of Virginia: Darden
2 Harvard Business School
3 Ipade
4 Dartmouth College: Tuck
5 IMD
6 University of Michigan: Ross
7 University of Western Ontario: Ivey
8 Northwestern University: Kellogg
9 Stanford University GSB
10 Duke University: Fuqua

Top for marketing
1 Northwestern University: Kellogg
2 Duke University: Fuqua
3 Indiana University: Kelley
4 Ipade
5 Esade Business School
6 Wisconsin School of Business
7 Imperial College Business School
8 University of Michigan: Ross
9 HEC Paris
10 Cornell University: Johnson


By Linda Abraham, President and Founder of Accepted.com.