QS Global TopMBA Rankings 2014

TopMBA’s new 2014/2015 global report ranks business programs according to geographic location based on surveys completed by 5,669 actively-hiring MBA employers and 7,187 academics in the field of business and management. (See more about the methodology here.)

Top 20 B-Schools in North America

Learn how to make the business school rankings work for you, not against you!

Some highlights:

•  The top 10 remained virtually the same this year as last, with two rather large exceptions: Ross and Stern entered the top 10 scene from 12th place to 8th place for Ross and 12th place to 10th place for Stern. Losing top 10 stature this year were Duke Fuqua which fell from 10th to 13th place and Toronto Rotman which fell from 8th to 14th.

•  There were three newcomers to the top 10 this year – NYU Stern (see above), Texas McCombs (29th last year to 19th this year), and BU School of Management (24th to 20th). HEC Montreal fell from the top 20 (16th place last year to 22nd this year), as did York Schulich (13th to 28th) and Queen’s School of Business (18th to 31st).

•  Big jumpers further down in the rankings include USC Marshall (42nd to 23rd), UC Irvine Merage (51st to 33rd), UC Davis (54th to 36th), Michigan State Broad (71st to 38th), UC San Diego Rady (61st to 40th), Ohio State Fisher (60th to 42nd), UT Dallas Naveen Jindal School of Management (83rd to 45th), Washington Olin (83rd to 47th), and Minnesota Carlson (87th to 49th).

•  Big droppers include UVA Darden (28th to 37th), University of Miami School of Business Administration (32nd to 77th), Rutgers Business School (67th to 82nd), and Vanderbilt Owen (37th to 86th).

Top 20 B-Schools in Europe

Learn how to make the rankings work for you and not against you!Some highlights:

•  HEC Paris jumped from 10th place last year to 4th place this year and Cambridge Judge jumped from 13th to 10th place; otherwise, the top 10 in Europe remain pretty much the same. Copenhagen fell from the top 10, from 9th place last year to 12th place this year.

•  New to the top 20 this year are ESSEC (29th place to 16th place), Manchester Bossiness School (27th to 14th place), and European Business School (21st to 19th). Trinity MBA in Dublin fell from the top 20, from 12th place to 21st

•  UK programs dominate the 65 schools on the European list with 26 programs represented. This is followed by France (9), Spain (5), Switzerland (4), Germany (4), the Netherlands (4), Italy (3), Denmark (2), Ireland (2), Greece (2), Finland (1), Portugal (1), Turkey (1), and Belgium (1).

You can download the full report here.

Are You Misusing the B-School Rankings?

Accepted.com: Helping You Write Your Best

Related Resources:

• Businessweek Rankings 2014
• 2014 Economist MBA Rankings
• MBA Rankings: Why Should I Care?

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.

Learn How to Choose the Best MBA Program for You!

Accepted.com: Helping You Write Your Best

Related Resources:

Best MBA Programs: A Guide to Selecting the Right One
• B-Schools with the Highest ROIs
• Which Graduate Schools Should You Apply To?

Duke Fuqua 2015 MBA Essay Tips and Deadlines

Want to learn more about Duke Fuqua? Click here!Leadership, teamwork, ethics, and a global approach to business are essential elements of the Duke Fuqua MBA, which is why you’ll need to make sure you express your passion for these ideals in your application essays. Impress the Fuqua adcom by positioning yourself as an innovative leader and team player, as someone who can see the big picture, work collaboratively, and shape global business.

My tips are in blue below. 

Three short answer questions and 2 essays are required from all applicants.

• Responses should use 1.5 line spacing and a font size no smaller than 10-point.
• Respond fully and concisely.
• Responses must be completed before submitting your application.
• Prepare your responses carefully. The Admissions Committee considers your answers important in the selection process.
• All essays are scanned using plagiarism detection software. Plagiarism is considered a cheating violation within the Honor Code and will not be tolerated in the admissions process.

Application Tip: Check out Fuqua’s section criteria.

Short Answers

Answer all 3 of the following questions. For each short answer question, respond in 250 characters only (the equivalent of about 50 words).

1. What are your short term goals, post-MBA?

State what you see yourself doing in terms of function and industry. If location or geography are important to your goal, include them.  If you know the type of companies you would like to work for, you can include that information too, but don’t say you want to work for Company X, unless Company X is sponsoring you. That’s probably too narrow.

2. What are your long term goals?

Your long term goals should flow logically from your short-term goals. They can be fuzzier and both in terms of direction and timing. But you should have them. They can, but don’t have to, include larger aspirations and present a broader perspective on where you are headed. But please don’t go so general and say something like “I aspire to be a good person” or “I strive to leave a lasting impact on my community.” Nice sentiments, but way to general.

3. Life is full of uncertainties, and plans and circumstances can change. As a result, navigating a career requires you to be adaptable. Should the short term goals that you provided above not materialize, what alternative directions have you considered?

What’s your Plan B? If you can’t get a job at a leading strategy consulting firm, what do you want to do? If Plan A is investment banking, what’s Plan B?

Essays:

1. Answer the following question — present your response in list form, numbered 1 to 25. Some points may be only a few words, while others may be longer. Your complete list should not exceed 2 pages.

The “Team Fuqua” spirit and community is one of the things that sets The Duke MBA experience apart, and it is a concept that extends beyond the student body to include faculty, staff, and administration. When a new person joins the Admissions team, we ask that person to share with everyone in the office a list of “25 Random Things About Yourself.” As an Admissions team, we already know the new hire’s professional and academic background, so learning these “25 Random Things” helps us get to know someone’s personality, background, special talents, and more.

In this spirit, the Admissions Committee also wants to get to know you–beyond the professional and academic achievements listed in your resume and transcript. You can share with us important life experiences, your likes/dislikes, hobbies, achievements, fun facts, or anything that helps us understand what makes you who you are. Share with us your list of “25 Random Things” about YOU. 

Have some fun with this list. It certainly allows a more creative approach than permitted by most essay prompts. Note that the questions asks you to go “beyond the professional and academic achievements listed in your resume and transcript.”  So you can list your Pez collection or perhaps your brief membership in a rock band or the fact that you took violin from age 6-18 or your membership in a gospel choir or your volunteer work in a hospital, your needlepoint, your favorite recipe or photo. Gosh the list is endless. Just let it reflect you. Think of this list as an introduction to potential friends.   For more insight into this question and the  motivation behind, please read Megan Overbay’s, the former Director of Admissions’, advice. I believe you will find it helpful. And very friendly.

2. Choose only 1 of the following 2 essay questions to answer. Your response should be no more than 2 pages in length.

Choose to the prompt that will let you reveal something important to you and impressive about you. Write the essay that you will be able to draft most enthusiastically and easily.

1. When asked by your family, friends, and colleagues why you want to go to Duke, what do you tell them? Share the reasons that are most meaningful to you

Why Duke? But you’re not talking to the admissions committee, whom you just may be a tad less than candid with. You are talking to your family, friends, and colleagues, people you know and like (at least the friends).  The Fuqua admissions staff really wants to get to know you. Authenticity is the goal. The admissions readers want to be able to imagine you as a part of Team Fuqua — their family — as a friend or colleague. Will you be real stiff and formal? Of course not. You will be friendly in a professional way. Don’t take this as an invitation to be inappropriate, coarse, or rude. Just friendly.

What appeals to you at Duke? What about its program, culture, and professional opportunities propels you to apply and would compel you to accept an offer of admission? Maybe address a letter to a close friend and tell her why you want to go to Duke.  That letter may morph into this essay.

2. The Team Fuqua community is as unique as the individuals who comprise it. Underlying our individuality are a number of shared ideas and principles that we live out in our own ways. Our students have identified and defined 6 “Team Fuqua Principles” that we feel are the guiding philosophies that make our community special. At the end of your 2 years at Fuqua, if you were to receive an award for exemplifying one of the 6 Principles listed below, which one would it be and why? Your response should reflect the research you have done, your knowledge of Fuqua and the Daytime MBA program and experience, and the types of activities and leadership you would engage in as a Fuqua student.

1. Authentic Engagement: We care and we take action. We each make a difference to Team Fuqua by being ourselves and engaging in and supporting activities about which we are passionate.
2. Supportive Ambition: We support each other to achieve great things, because your success is my success. The success of each individual member of Team Fuqua makes the whole of Team Fuqua better.
3. Collective Diversity:  We embrace all of our classmates because our individuality is better and stronger together.
4. Impactful Stewardship: We are leaders who focus on solutions to improve our communities both now and in the future. We aren’t satisfied with just maintaining the status quo.
5. Loyal Community: We are a family who looks out for each other. Team Fuqua supports you when you need it the most.
6. Uncompromising Integrity: We internalize and live the honor code in the classroom and beyond. We conduct ourselves with integrity within Fuqua, within Duke, and within all communities of which we are a part.

Do your homework about Fuqua (and yourself) before responding to this question. What activities and groups appeal to you? How do you see yourself participating? Making a difference? Then look at the list of six principles above. Which do you most identify with? Imagine how you would exemplify that principle in your activities. The story of that role and how would see yourself earning an award is your essay.  While you can reference similar activities in the past, keep the focus of this essay on what you would do at Fuqua and why you would earn recognition for exemplifying one of these six principles.

Optional Essay Question:

If you feel there are extenuating circumstances of which the Admissions Committee should be aware, please explain them in an optional essay (e.g. unexplained gaps in work, choice of recommenders, inconsistent or questionable academic performance, or any significant weakness in your application).

• Do NOT upload additional essays nor additional recommendations in this area of the application.
• The Optional Essay is intended to provide the Admissions Committee with insight into your extenuating circumstances only.
• Limit your response to two pages.

Why isn’t your current supervisor writing your rec? Why is there a six-month gap on your resume? Why did your grades dip during the first semester of your senior year? What are your responsibilities while working for a family business after having left a prestigious investment bank, and why did you make the change? Answering any of those questions (but not all) could be the topic of your optional essay.

If you would like professional guidance with your Duke Fuqua 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 Duke application. 

Duke Fuqua 2015 MBA Application Deadlines:

Application Deadline Decision Notification
Early Action Sept. 17, 2014 Oct. 29, 2014
Round 1 Oct. 20, 2014 Dec. 19, 2014
Round 2 Jan. 5, 2015 Mar. 13, 2015
Round 3 Mar. 19, 2015 May 6, 2015

MBA Admissions A-Z: 26 Great Tips - Download your free copy!

 

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.

 

Related Resources:

• What I Wish I Knew Before Entering the Duke MBA
• Culture, Location, and Support: A Duke MBA Speaks
• 2015 MBA Application Essay Tips

 

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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