2014 Economist MBA Rankings

2014 Economist Full-Time Global MBA Rankings:Download your free copy of MBA Rankings: What You Need to Know

1. Chicago Booth (U.S.)

2. Dartmouth Tuck (U.S.)

3. UVA Darden (U.S.)

4. HEC Paris (France)

5. IESE Business School (Spain)

6. Harvard Business School (U.S.)

7. UC Berkeley Haas (U.S.)

8. NYU Stern (U.S.)

9. Stanford GSB (U.S.)

10. Columbia Business School (U.S.)

11. UPenn Wharton (U.S.)

12. MIT Sloan (U.S.)

13. UCLA Anderson (U.S.)

14. Northwestern Kellogg (U.S.)

15. London Business School (U.K.)

16. University of Queensland Business School (Australia)

17. Emory Goizueta (U.S.)

18. INSEAD (France)

19. Yale SOM (U.S.)

20. Michigan Ross (U.S.)

Top 10 B-Schools with the Highest GMAT Scores:

table

Top 10 MBA Programs for “Potential to Network”:

1. HEC Paris (France)

2. Vlerick Leuven Gent Management School (Belgium)

3. Thunderbird School for Global Management (U.S.)

4. NYU Stern (U.S.)

5. UC Berkeley Haas (U.S.)

6. Notre Dame Mendoza (U.S.)

7. Warwick Business School (U.K.)

8. USC Marshall (U.S.)

9. Melbourne Business School (Australia)

10. UVA Darden (U.S.)

A Poets & Quants article on the rankings states that at least 17 business schools declined to participate in this year’s rankings, many claiming that The Economist’s methodology is faulty. Some of these schools include Babson Olin, Toronto Rotman, Sauder School (British Columbia), Minnesota Carlson, McGill Desautels, Purdue Krannert, and, University of Manchester (U.K.), Imperial College Business School (U.K.), University of Illinois at Urbana-Champaign.

Regarding methodology, 80% of the data used for the rankings is derived from surveys provided by the schools themselves. The remaining 20% of information comes from current students and recent grads.

John Byrne notes that since The Economist rankings launched in 2002, Harvard, Stanford, and Wharton have never topped the charts. This year, the schools rank at 6th, 9th, and 11th place, respectively. In 2005, Harvard and Wharton weren’t included in the rankings as they declined to contribute data. (That year, those two programs also declined to participate with the Businessweek rankings.)

Matt Symonds, who wrote a critique of the rankings, “Leave no MBA ranking unquestioned,” provides these additional points:

• Booth took the #1 spot for the third year in a row, and the fifth time in the last eight years.

• There are only six European schools in the top 25; in 2008, there were 11. This year, Cambridge Judge and Oxford Saïd both dropped 15 places, to 52nd and 69th place respectively.

• The breakdown of the criteria used to rank the schools goes as follows: personal development/education experience (35%), open new career opportunities (35%), increase salary (20%), and potential to network (10%).

• This year, more than 20 schools rose or fell by double-digits (and thus the rankings have been criticized for their volatility).

• Big droppers include University of Bath School of Management which fell 23 spots from its previous 20th place; York Schulich fell to 41st place from 22nd last year.

• Big jumpers include Kellogg and Yale which both jumped 9 places up to 14th and 19th place respectively; Rochester Simon and Temple Fox both jumped 20 places to 58th and 57th place respectively.

Are You Misusing the B-School Rankings?

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Related Resources:

• MBA Rankings: Why Should I Care?
MBA Rankings: What You Need to Know
• Top 10 B-Schools with the Most Satisfied Graduates

The Tuck School of Business and the Global Insight Requirement

Click here to listen to the full conversation with Dr. Phillip Stocken!

On September 3, 2014, the Tuck School of Business introduced the new and exciting Global Insight Requirement.

Listen to the recording of our conversation with Dr. Phillip Stocken, the Associate Dean for the MBA Program at Tuck, for the scoop on the new requirement and more info about the b-school.

00:02:33 – The structure of the Tuck MBA Program.

00:05:15 – What is the Tuck Global Insight Requirement?

00:13:32 – About the first year project and where it meets the new program.

00:17:26 – What will define the Global Insight requirement as a success.

00:19:38 – Tuck alum are by far the most loyal MBA grads: What is the secret?

00:24:14 – The faculty cooperation that makes Tuck unique.

00:28:06 – What do Tuck students have in common?

00:30:10 – What Dr. Stocken wishes MBA students would know before starting b-school.

00:34:07 – Important advice for MBA applicants.

Listen to the full conversation to learn more!*Theme music is courtesy of podcastthemes.com.

Related Links:

Tuck Announces New Global Insight Requirement 
• 
Tuck School of Business 
How to Get Accepted to Top B-Schools with Low Stats

Related Shows:

A B-School Professor on Main Street, USA 
• A Transformational Year: The MIT Sloan Fellows Program
Global Business Leadership at Wharton’s Lauder Institute

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Top 10 Most Expensive Private Business Schools in the U.S.

In 2013-2014, b-school prices at private, elite business schools in the U.S. increased about $3,000 since the previous academic year. The average tuition for these 10 costly programs is almost $13,000 more than the average tuition of all ranked programs.

By contrast, one of the least expensive schools (not listed below) is Brigham Young’s Marriott School of Management with tuition and fees at $22,560 (and only $11,280 for students of the Church of Jesus Christ of Latter-day Saints faith).

Check out our B-School Zones to learn more about the top MBA programs!

Source: U.S. News “The Short List”

Check out our free webinar: How to Pay for Your MBA

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Related Resources:

• Which B-Schools Offer the Most Scholarships?
• CommonBond’s Story: A Revolution in Student Loans
• MBA Scholarships: How Do I Apply and What Should I Emphasize?

Dartmouth Tuck 2015 MBA Essay Tips and Deadlines

Want to learn more about Tuck? Check out our Dartmouth Tuck MBA Zone!The Dartmouth Tuck adcom is interested in learning about what you as an individual, a businessperson, and a leader can contribute to Tuck’s small, close-knit program. Use your essays as a platform for expressing your earnest desire to enter the world of management and to make a difference. 

Following the shrinking app trend, this year Tuck reduced its required questions from three to two and tweaked slightly the second required essay prompt. 

I strongly recommend Tuck applicants read The MBA Gatekeeper To Dartmouth’s Tuck School of Business,” Poets and Quants interview with Dawna Clarke, Director of Admissions at Tuck.

Essays:

Please respond fully but concisely to the following essay questions. There are no right or wrong answers. We encourage applicants to limit the length of their responses to 500 words for each essay. Please double-space your responses.

1. Why is an MBA a critical next step toward your short- and long-term career goals? Why is Tuck the best MBA fit for you and your goals and why are you the best fit for Tuck?

The MBA is a means to an end; it is a “step” towards a goal. That means you have to briefly discuss the most influential stops on your journey to date and then your reasons for wanting a Tuck MBA to continue on that journey.

You have to know a lot about Tuck as well as your goals to respond effectively to this question. Why do you want a small, tight-knit program in rural New Hampshire? Why do you want a program that stresses the integration of business functions?  Which of Tuck’s strengths appeal to you? How will they help you achieve your goals? 

To respond to the fit  part of the question, review Tuck’s six evaluation criteria for admission. You won’t have much room to address fit. Perhaps in your conclusion succinctly make the case for your fit with Tuck’s criteria. Point to elements of your application that show you meet the criteria without repeating them. You want the reader to see a match made in heaven.

2. Tell us about your most meaningful leadership experience and what role you played. What did you learn about your own individual strengths and weaknesses through this experience?

This question reflects the importance Tuck, like many MBA programs, places on leadership. Last year, Tuck asked about “collaborative leadership.” This year it dropped “collaborative” from the question. Perhaps some applicants confused collaborative leadership with teamwork, and Tuck really wants to see you as a leader. Perhaps, and more likely given Tuck’s collaborative culture, Tuck wants to know what leadership example you will use and whether your definition of leadership is a fit for Tuck. Your example should reflect a collaborative and enlightened approach to leadership. 

Have you co-chaired  a fundraiser that raised a record amount of money? Have you been a board member for a not-for-profit organization? Have you captained a sports team that led your company league while having an excellent relationship with the coach or manager of the team? Have you been a team lead on a project that came in early and under budget while cooperating closely with other team leads or members of your team? Are you the head of a sales team who empowered other members of your team in a way that greatly contributed to the success of that initiative? These could all be examples of leadership. How did you motivate your teammates? What did you learn about yourself through the experience? In answering the last question, don’t be generic and don’t wonder “What do they want to hear?” What did you actually learn from this most meaningful experience?

The question asks you to reveal strengths and weaknesses. The first is fun and should be relatively easy. However we all cringe at the idea of revealing weaknesses, especially in a situation where you want to impress — like now. Nonetheless, resist that nasty impulse to write something fluffy and meaningless. Don’t even think about a phony weakness. The adcom will see right through it. Reveal a weakness that hopefully you can show yourself addressing in this leadership experience or through another later experience. Don’t dwell on the weakness, but do include it. 

3. Optional question: Please provide any additional insight or information that you have not addressed elsewhere that may be helpful in reviewing your application (e.g., unusual choice of evaluators, weaknesses in academic performance, unexplained job gaps or changes, etc.). Complete this question only if you feel your candidacy is not fully represented by this application.

It is almost impossible for two or three 500-word essays plus a bunch of boxes, a transcript, and a GMAT score to represent fully the uniqueness and talents of a truly impressive candidate. That comment has nothing to do with writing style and everything to do with the complexity of accomplished human beings. In my opinion this “optional essay”  is optional in name only.

At the same time, don’t waste the reader’s time by writing a meaningless, superficial “grand finale” or summary. Don’t repeat what can be found elsewhere.

4Reapplicant question: How have you strengthened your candidacy since you last applied? Please reflect on how you have grown personally and professionally.

Straightforward MBA reapplication question. What has changed that would compel Tuck to admit you this year?

If you would like professional guidance with your Dartmouth Tuck MBA application, please consider Accepted’s MBA essay editing and MBA admissions consulting or our  MBA Application Packages, which include advising, editing, interview coaching, and a resume edit for the Dartmouth Tuck application. 

Dartmouth Tuck 2015 Application Deadlines:

Round Due Date Decisions Released
Early Action October 8, 2014 December 18, 2014
November Round November 5, 2014 February 13, 2015
January Round January 6, 2015 March 13, 2015
April Round April 1, 2015 May 15, 2015

Have our MBA admissions experts critique your Dartmouth Tuck application!

Linda Abraham By , 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.

The Economist’s Top 20 North American MBA Programs

How much do MBA rankings matter? Click here for the short answer. Below you’ll find The Economist’s top 20 American business schools, with a rank on the left (ranking the top 20 in the U.S. and Canada) and a rank on the right (the school’s place in the top 100 global rankings). As you’ll see, the American programs listed are all located at the top or very close to the top of the top global programs. The Economist article highlights the legacy of American programs – their size, their history, their all-star faculties (all of Wharton’s 245 professors have PhDs), and their financial magnitude.

As always when looking at rankings, you need to understand the methodology behind them. The Economist’s methodology is a weighted average going back to 2011 of some fairly quirky factors including “Diversity of recruiters,” “Number of languages taught,” and “Number of overseas countries with an official alumni branch.” If those and other factors considered by the Economist are not important to you, then this ranking probably isn’t that useful to you.

There are 16 schools on the global rankings that have an average GMAT score over 700; 14 of them are American (with Stanford GSB taking the cake with an average of 729).For opening up doors career-wise, the top 5 schools in the global rankings were all Americans – Chicago Booth, Dartmouth Tuck, UVA Darden, and Columbia. Interestingly, even with the top marks for job opportunities, graduates from American programs tend to earn less than those from European and Australian programs – the Economist article claims that this is likely due to the limited pre-MBA work experience of those accepted at American programs. (Even Stanford’s grads, who in America boast the highest average salary of around $130,000, earn less than grads from less prestigious programs like IMD in Switzerland and University of Queensland in Australia.)

In terms of cost, the American schools certainly rank at the top of the chart. A Harvard MBA will run students $112,000. A degree from Wharton costs $130,000.

How much do rankings really matter? Click here to view our 2-min answer.

Download our free special report: Best MBA Programs

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