Top Ranked Part-Time MBAs

The U.S. News has released its list of the top-ranked part time MBA programs.

Here are the top 10:

Are you using the rankings correctly?1. UC Berkeley (Haas)

2. U Chicago (Booth)

3. Northwestern (Kellogg)

4. NYU (Stern)

5. UCLA (Anderson)

6. U Michigan (Ross)

7 (tie). Carnegie Mellon (Tepper)

7 (tie). U Texas- Austin (McCombs)

9. Ohio State (Fisher)

10 (tie). U Minnesota- Twin Cities (Carlson)

10 (tie). USC (Marshall)

For the full list and details of the ranking methodology, visit the rankings. We offer comprehensive consulting services for both full- and part-time MBA applicants!

Are You Misusing the B-School Rankings?
Accepted: The Premier Admissions Cosultancy
Related Resources:

• Ace the EMBA
• Tips for Applying to Part-time MBA Programs
• The MBA Family: A Roundup and Overview

U.S. News 2016 Best Graduate Business Schools

U.S. News released its graduate school rankings today. Let’s see how our top b-schools fared…

Top 20 U.S. B-Schools – 2016

Visit our b-school zone page for info on the top business schools.1. Stanford GSB (1)
2. Harvard Business School (1)
3. UPenn Wharton (1)
4. Chicago Booth (4)
5. MIT Sloan (5)
6. Northwestern Kellogg (6)
7. UC Berkeley Haas (7)
8. Columbia Business School (8)
9. Dartmouth Tuck (9)
10. UVA Darden (11)
11. NYU Stern (10)
11. Michigan Ross (11)
13. Duke Fuqua (14)
13. Yale SOM (13)
15. UCLA Anderson (16)
16. Cornell Johnson (17)
17. Texas McCombs (15)
18. UNC Kenan-Flagler (19)
19. Washington Olin (22)
20. CMU Tepper (18)

25% of US News rankings is made up of survey responses from business school deans and directors; 15% is based on recruiters’ survey responses. The remaining 60% is based on statistical data reflecting program selectivity and placement success. (For details, read up on U.S. News methodology.)

Here are some highlights from the Poets & Quants article on the rankings:

• Last year’s three-way Stanford/Harvard/Wharton tie was broken this year with each school taking one of the first three spots (Stanford in first, HBS in second, and Wharton in third).

• The P&Q article states that Wharton’s slip to third is due to lower peer assessment and corporate recruiter survey scores.

• Wharton also reported an acceptance rate of 20.7%, up from last year’s 18.7% — this is another metric used by U.S. News in their methodology.

• Another factor contributing to Wharton’s position this year is its position regarding salary and bonus. Last year it took top slot at $141,243, while this year it slipped to fourth place at $142,574 – yes, higher than last year, but this year, Harvard, MIT, and Stanford reported even higher salaries/bonuses (HBS took the cake at $144,936 this year).

• Stanford’s top stats this year: average GMAT – 732; average GPA – 3.74; acceptance rate – 7.1%.

• In the top 20, there weren’t significant changes beyond a given school moving up or down a couple places. But further down in the rankings there were some big shifts. Texas A&M jumped 10 places to 27th place (tied with Carlson); Wake Forest jumped 13 places to 45th place; and Louisville moved up at least 31 places to 71st place – it was previously unranked.

• Big drops include Missouri Trulaske which fell 21 places from 58th to 79th place; Pepperdine Graziadio which fell at least 25 places, from last year’s 76th place to its unranked position this year.

Wondering how much rankings should play a roll in determining where you apply? Watch the video below for Linda Abraham’s answer:

Are You Misusing the B-School Rankings?

Accepted: The Premier Admissions Cosultancy

Related Resources:

• Financial Times Global MBA Rankings 2015
• What’s an MBA Really Worth?
• PayScale: How Much Can You Earn, and How to Earn It?

Interview with Josh: An Inside Look at the Tepper MBA Family

Read more MBA student interviews here!

“Tepper feels like a family”

This interview is the latest in an Accepted.com blog series featuring interviews with current MBA students, offering readers a behind-the-scenes look at top MBA programs. And now for a follow up interview with Josh Howatt, a second-year student from CMU Tepper. (We first met Josh last year – you can read our first interview with him here.)

Accepted: Last we spoke you had just been accepted to Tepper. Can you please bring us up to date? How have you been the last year and a half?

Josh: My time at Tepper has been absolutely fantastic! Currently, I’m pursuing the Management of Innovation and Product Development track, and working with other CMU schools in Engineering, Public Policy, and Design Schools for my Capstone. We’re collaborating on real-life problems with F500 companies and start-ups. It’s great to be putting the tools we’ve learned into practice. Also, I’m concentrating in Marketing, Strategy, and Information Systems – a far cry from where I originally intended in CPG. The curriculum is rigorous and highly quantitative, but also provides its fair share of soft-skill classes, e.g. Managerial Communications, Negotiations. So far, it’s been an amazing (see: challenging) experience.

Accepted: What is your favorite thing about Tepper?

Josh: My favorite thing about Tepper is that it’s a small program, so the feeling is collegial. It’s absolutely true that if you work at it, you can get to know every single person in your class. This also makes for a great teacher to student ratio. Meaning, there is plenty of opportunity to engage in discussion with your professors outside of the classroom. With regard to the student body, everyone has certain expertise and is more than willing to lend a hand or teach what they know. Tepper feels like a family, and I don’t think you fully realize how true that is until you visit and see it firsthand.

Accepted: Where did you intern this past summer? Can you talk about the process by which you secured the position and how Tepper helped along during the process?

Josh: This summer I interned at Autodesk as a Thought Leadership, Content Marketing Intern. Tepper was instrumental to me landing this position. We have a fantastic COC that allows you to meet with as many counselors as often as you like. Fortunately, I loved my originally assigned counselor from the start. She was fantastic at connecting me with alumni in companies I was interested in, and often times would shoot off an email right then and there during our meetings. The COC is also great in preparing students for the recruiting process; everything from developing your STAR stories, to getting your resumes and cover letters into pristine condition. One of the most helpful parts of the process is the month-long BaseCamp before Mini 1. Not only do you get an opportunity to engage with your future classmates, but you get a jumpstart on the recruitment process, because it starts SO EARLY.

Accepted: Do you have a job lined up yet for next year? 

Josh: I do! I will be starting as a Sr. Consultant for Verizon in their Marketing Leadership Development Program. I can’t even tell you how excited I am!

Accepted: Congratulations on your job with Verizon!

Can you tell us about the difference between “concentrations” and “tracks” at Tepper? How early in your studies do you need to declare these specifications? 

Josh: I would equate concentrations and tracks to undergrad minors and majors. Concentrations are specializations that require completion of 3 elective classes within a certain field (so you could essentially have up to 3 or 4 concentrations). Tracks go much deeper in that they involve completing core specialization classes, and then choosing from specified electives. You typically apply to be part of a track, and choose only one.

Accepted: Are you involved in any clubs on campus? How central to student life is club involvement?

Josh: I’m VP of Technology for our Marketing Club and VP of Marketing for Out&Allied (Tepper’s LGBT club). I’m also a member of our Business&Technology Club and the Public Speaking Club. Club involvement in very central to student life at Tepper. Outside of board duties, at least twice a week I’m participating in a club sponsored event, which is great! There’s always something interesting going on, whether it’s a social event, educational series, or recruiting prep.

Accepted: Do you have any tips to incoming Tepper students? What do you wish you would have known when you were starting out?

Josh: My best advice for incoming Tepper students is: realize you are only human and don’t be so hard on yourself! There’s going to be so much interesting stuff to do, and you’ll want to do it all, but that’s just not possible. I was a huge stress case my first two Minis (my friends will attest to this, and is sort of a running joke now). Get used to saying “no” and learn to prioritize what’s most important to you and your Tepper experience. Between classes, recruiting, social events, club events, corporate presentations, career fairs, and everything else in your life, your head is going to spin. Just know that ahead of time. Find a way to balance school and life. Take time for you. And if you find yourself starting to lose it, just know that there is a Tepper family there to help hold you together.

For one-on-one guidance on your b-school applications, please see our MBA Application Packages. For specific advice on how to create the best application for Tepper, check out our CMU Tepper 2015 MBA Questions, Deadlines, Tips.

Thank you Josh for continuing to share your story with us!

Download our free special report: Best MBA Programs

Accepted.com: The Premier Admissions Consultancy
Related Resources:

Best MBA Programs: A Guide to Selecting the Right One
MBA Project Search: Matchmaking for MBAs and Businesses
CMU Tepper B-School Zone

Businessweek Rankings 2014

Let’s see how full-time MBA programs in the U.S. fared this year on the BW rankings…

Check out our Zone Pages for more info about the top MBA programs!

There were some huge changes this year! Let’s take a look at some of the highlights:

• Newcomers to the top 20 this year are Yale SOM, which made a huge jump from 21st place to 10th place; Maryland Smith which went from 24th to 17th place; and Emory Goizueta which jumped from 22nd place to 18th place this year.

• There are three new schools in the top 10 this year – Yale SOM, as mentioned above; Columbia Business School (13th in 2012 and 5th this year); and CMU Tepper (which moved just one place from 11th place to 10th place).

• Beyond that, there was some major shifting in the rankings. The top 3 schools were all different this year (Wharton and Booth still there, but rearranged), with Harvard Business School falling from 2nd place to 8th place.

UVA Darden also fell significantly this year, from 10th place to 20th.

• Big jumpers further down the rankings include Rice University Jones (from 34th to 25th); UC Irvine Merage (43rd to 31st); and Rochester Simon (50th to 38th).

• The schools that fell the most in the rankings include Texas A&M Mays (26th to 42nd); University of Wisconsin-Madison (33rd to 44th); Boston University (39th to 57th); Babson Olin (from 42nd to 58th); Thunderbird (45th to 62nd); and Arizona Carey (49th to 67th).

And here’s the scoop on the best U.S. undergraduate business schools in 2014…

Do MBA rankings really matter? Click here for the 2-min answer.

Some highlights include:

• Newcomers to the top 20 are Northeastern (from 25th last year to 19th this year) and CMU Tepper (from 24th last year to 17th this year).

• The only new school in the top 10 this year is Indiana Kelley, which jumped from 13th place last year to 8th place this year.

Michigan Ross fell from the top 10, from 8th place to 12th place.

• Big jumpers include Southern Methodist Cox, which jumped from 30th to 21st place; Babson, which jumped from 36th place to 26th place; UM Amherst Isenberg, which jumped from 45th to 36th; Bryant, which jumped from 63rd to 49th; and Case Western Reserve Weatherhead which jumped from 69th to 50th.

• Big falls include Villanova, which fell from 15th place to 24th; U of Illinois Urbana-Champaign which fell from 21st to 34th; and James Madison University which fell from 29th to 40th place.

For details on how ranking methodology see:

Best Business Schools 2014: How They Were Ranked

Best Undergraduate Business Schools 2014: How We Ranked Them

Analysis of the 2014 Businessweek Rankings

Businessweek made changes to its methodology (presented here and analyzed here by John Byrne, the founder of the BW rankings) this year.

The Basics of BW’s Rankings Remain Unchanged

This year, as in the past, BW surveyed recruiters and students. The recruiter satisfaction results comprise 45% of the ranking. The student satisfaction survey results comprise another 45% and the remaining 10% is determined by “expertise of each school’s faculty” as evidenced by faculty research published in prominent academic journals AKA intellectual capital.

What’s New in BW’s Rankings Methodology?

• The employer ranking reflects this year’s data only. Previous rankings used data from the last three surveys or six years of biannual rankings data while weighting the most recent year most heavily.

BW surveyed fifteen times the recruiters this year than it did in previous years. Previously, BW surveyed major recruiters who tended to recruit at multiple business schools. This year, BW attempted to survey as many MBA recruiters as possible, including “recruiters” who recruit primarily if not exclusively at their alma mater. The increased survey size is a major methodology change. The alumni recruiters may have a certain bias towards the school they attended. BW attempted statistically to reduce the impact of that bias, but it probably helped smaller schools like Duke, Tepper, and Yale, and hurt the traditional leaders, like Harvard, Wharton, and Chicago.

Impact of the Methodology Changes

• Surprise! The results will shock many applicants. Seven programs, including Duke and Yale, rank above HBS and MIT. Indiana Kelley and Maryland Smith rank above Haas, NYU Stern, and Darden. These are unexpected results.

• Reemphasizes the importance of understanding methodology. The changes highlight the need for anyone using the rankings as indications of “quality” or even reputation and brand value (a bad idea in my book) to look at the underlying data. Smith is ranked overall at 17. It was ranked #1 for student satisfaction and #51 in the employer survey ranking. Applicants to Smith should inquire about what is changing in its career management center. Clearly there is a satisfaction gap that has to be addressed.

• Increased volatility. Since BW has removed older rankings data from the ranking and has dramatically widened the survey pool while incorporating alumni recruiters, you are guaranteed to see more changes and more radical changes than with the previous methodology.

• Cognitive Dissonance. Either BW rankings will lose credibility because they don’t conform to expectations and will be more volatile, or people’s perception of the programs will change because of the BW rankings.

My money is on the former: loss of credibility. If BW’s results become less stable and predictable (like The Economist’s), they are more likely to lose credibility than to contribute to changes in school reputation.

As always my best advice to applicants reviewing the rankings is to:

• Use specialty rankings to get a sense of what schools excel in your areas of interest.

• Use the data that the ranking databases provide.

• If you have any thought of actually using the overall rankings, understand what they measure, and ask yourself if those qualities are of paramount importance to you. BW has been wonderfully transparent and even shared the questions actually asked in the survey.

• Layer in reputation and brand, i.e. ranking, after determining what schools best support your goals and are most likely to accept you.

Learn How to Choose the Best MBA Program for You!

Linda AbrahamBy Linda Abraham, president and founder of Accepted.com and co-author of the new, definitive book on MBA admissions, MBA Admission for Smarties: The No-Nonsense Guide to Acceptance at Top Business Schools.

 

Related Resources:

• 2014 Economist MBA Rankings
• MBA Rankings: Why Should I Care?
• U.S. News 2015 Best Colleges

What’s an MBA Really Worth?

Applying to top MBA programs? Download your free copy of Best MBA Programs: A Guide to Selecting the Right One

How much do MBAs really earn?

This is the question tackled in a recent Poets & Quants article in which John Byrne presents PayScale data provided exclusively for P&Q. In the analysis, PayScale calculates the estimated median pay and bonuses (not including stock-based compensation, retirement benefits, or non-cash benefits like healthcare) of graduates from the top 50 U.S. MBA programs from 2004 to 2014. Here are some of the highlights from the article:

Harvard, Stanford, and Wharton earn the most over a 20-year period (at $3,233,000, $3,011,000 and $2,989,000 respectively), with average income at the former nearly doubling the average income of graduates from Texas A&M’s Mays Business School (at $1,781,820.)

• Some schools “punched above their weight class” like Boston University, whose graduates earned an average of $2,329,000, making the school rank in 19th place on this list, while ranked overall (in the regular MBA full-time rankings) by P&Q in 40th.

• Another high roller from lower down on the list is UC-Irvine Merage, where MBAs earn $2,319,932 over 20 years, putting them in 21st place, though generally ranked in 47th.

• More food for thought: At HBS, the average age of graduation is 29 years old. Our 20-year payout here brings these MBAs up to 49 years old, giving them another 16 years until retirement at 65. Based on their 20-year earnings, they may earn another $3.2 million, which combined with their 20-year earnings, brings their total up to $6.5 million. (Remember, this is a conservative estimate as it doesn’t include stock and non-cash compensation.)

• Compare the above HBS figures to the $2.5 million estimated lifetime earnings (age 24 to 64) of people with a master’s degree (non-MBA). (Data from the U.S. Census Bureau.) Someone with an MBA from Harvard will earn nearly three times as much as someone with a master’s degree. And someone with an MBA from Texas A&M will still earn about $1 million more than the average MA/MS holder.

• More comparisons (based on U.S. Census Bureau data): The average high school graduate can expect to earn $1.2 million in a lifetime, compared to the $2.1 million of someone with a bachelor’s degree. PhDs earn $3.4 million on average during their working lifetime. Doctors and lawyers can expect lifetime earnings of about $4.4 million – still less than the lifetime earnings of MBAs from at least 28 business schools.

• According to PayScale data, graduates from BA programs earn a median $1,301,000 20 years post-graduation. All MBAs, on average, earned $1,771,000, with those in the top 50 earning a median $2,266,000. An MBA in general will earn you about half a million more than a BA; an MBA from a top 50 school will get you yet another half a million more.

Looking for admissions advice?
Source: PayScale for Poets&Quants

For MBA admissions tips, check out our MBA Admissions 101 Pages!
Source: Payscale Inc. for 20-year estimate, business schools reporting to U.S. News for 2013 starting pay and bonus.

Click here for the complete Poets & Quants article.

Learn How to Choose the Best MBA Program for You!

Accepted.com: Helping You Write Your Best

Related Resources:

MBA Rankings: What You Need to Know
• B-Schools with the Highest ROIs
PayScale: How Much You Can Earn, And How to Earn It