2011 Rankings: BW’s Best Undergraduate Business Schools

  

BusinessWeek‘s 2011 ranking report reveals that more than ever, college applicants are seeking a global experience, especially those who plan on pursuing an undergraduate degree in business. Undergraduate business programs are responding by creating more immersion options, overseas internships, and business-related study abroad opportunities. Some schools are even offering business courses that require students to go abroad. Many schools are implementing international experience requirements, maintaining that global exposure is essential in today’s market.

For example, Notre Dame Mendoza, BW‘s top pick for the second year in a row, offers study abroad options in Haiti, Egypt, and South Africa, among many other places, and encourages students to pursue business research projects abroad as well.

Below we have posted BW‘s top 20 undergraduate business schools.

Top 20 Best Undergraduate Business Schools 2011 (Last year’s position is in parentheses.)

1.      Notre Dame Mendoza (1)

2.      UVA McIntire (2)

3.      Emory Goizueta (7)

4.      UPenn Wharton (4)

5.      Cornell (5)

6.      Michigan Ross (8)

7.      Villanova (20)

8.      UNC Kenan-Flagler (14)

9.      MIT Sloan (3)

10.  Georgetown McDonough (23)

11.  Brigham Young Marriott (11)

12.  Richmond Robins (15)

13.  UC Berkeley Haas (6)

14.  Washington Olin (13)

15.  NYU Stern (12)

16.  Boston College Carroll (9)

17.  Texas McCombs (10)

18.  Indiana Kelley (19)

19.  Wake Forest (18)

20.  Babson (17)

You’ll notice there were quite a few significant shifts this year. Three new schools made it into the top 10—Villanova, UNC Kenan-Flagler, and Georgetown McDonough—ousting UC Berkeley Haas, Boston College, and Texas McCombs from their top 10 positions of last year. The only school new to the top 20 list this year is Georgetown, taking a slot away from Miami Farmer.

For more information on methodology, please see BW‘s article, “How We Ranked the Schools.”

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Top 20 EMBA Programs in North America

Top executive MBA programs in America are charging an arm and a leg —is it worth it? That’s the topic of a recent CNN Money Fortune/Poets & Quants article, “Executive MBAs: Great, if you can foot the bill,” which reports that if people are willing to pay the sky-high prices for an EMBA degree, they’ll likely graduate with a high paying salary and a positive attitude towards their educational experience.

Top programs, like those at Wharton, offer very similar curriculums to their regular MBA programs, yet are charging almost $65,000 more (for a total of more than $160,000). (Other top 10 EMBA programs charge slightly less, with Booth at $142,000, Kellogg at $153,900, and Columbia at $148,320.)

Studies show that 97% of EMBA graduates are “overwhelmingly satisfied” with their educations, despite the high tuition, and that the programs “met or exceeded their expectations when it comes to impact on their careers and their organizations.” According to the latest Executive MBA Council study, one-third of EMBA graduates received promotions at work; 44% received more responsibilities at work; and EMBAs in general reported an average 11.4% salary increase, from $127,955 to $142,534. And this is just following the great recession!

The article refers readers over to the new Poets & Quants for Executives website that ranks the 50 best executive MBA programs in North America based on a combination of ratings from The Financial Times, The Wall Street Journal, BusinessWeek, and U.S. News & World Report. You can view a summary of P&Q ranking methodology on the bottom of this page.

You should read the full Fortune/P&Q article and review the full rankings for more information. In the meantime, here are the top 20 EMBA programs according to the new Poets & Quants for Executives website:

Top 20 Executive MBA Programs in North America

1.      Wharton

2.      Chicago Booth

3.      Northwestern Kellogg

4.      Columbia Business School

5.      NYU Stern

6.      Michigan Ross

7.      UCLA Anderson

8.      Cornell Johnson

9.      Texas McCombs

10.  USC Marshall

11.  Duke Fuqua

12.  UNC Kenan-Flagler

13.  Berkeley/Columbia

14.  Washington Olin

15.  Emory Goizueta

16.  Boston University

17.  Georgetown McDonough

18.  Thunderbird

19.  Rice University Jones

20.  Southern Methodist Cox

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Consortium: Interview with Admissions Directors

Last week’s Consortium Q&A was a huge success and tons of important issues were addressed by Rebecca Dockery, the Consortium’s Recruiting Director, and a panel of representatives from top MBA programs, including Dartmouth Tuck, Emory Goizueta, Michigan Ross, NYU Stern, Rochester, UCLA, UNC, USC, UT Austin,.

To review the entire discussion, please read the full transcript or download the MP3.

Here is an excerpt from the Q&A that we found particularly illuminating:

Linda Abraham: The next question is, “How important is it that I rank my schools on the Consortium application?”

Karen Marks DARTMOUTH: It makes no difference; it’s not a factor in admissions decisions. It comes into play during the fellowship component, but in terms of your admissions decision, it doesn’t play in at all.

Jon Fuller MICHIGAN: When the Admissions Committee gets an application, the rank list is electronically blacked out, and that is not actually released until we’ve already made our admissions decisions. That is just our own internal process for that. So just as it was mentioned, the ranking plays no factor in admissions decision or in membership; it really only comes up from a fellowship perspective.

Shana Basnight EMORY: I would just advise that you do your due diligence before you lock in your ratings because once you do, they are set in stone and you can’t change them. So whether you get a chance to visit different campuses or talk to different alums that have attended different schools, do as much research as you can before you completely drop the Consortium application and put in your rankings because you only have one chance to do them.

Jon Fuller MICHIGAN: I think candidates spend some time thinking about whether there is a way to increase the likelihood of them getting a fellowship by how they rank a school, and there is  a lot of agony that goes into that. The advice I give to candidates is that if Ross is your first choice, then you should rank us first. If another school is your first choice and we’re your second choice, then you should put us second and you should put that other school first. Because just as it was mentioned, it’s an individual decision based on the school; it just goes down the rank order of the process that is explained relatively well through the

Consortium documentation that is available on their website. But don’t try to over-think because it just doesn’t work. So rank the order in terms of your enthusiasm of how much you want to attend that particular program.

Rebecca Dockery CONSORTIUM: I’m going to give you an Amen!

Jon Fuller MICHIGAN: Thank you!

Kellee Scott USC: Just to add a little more relief hopefully to this effort with the rankings, the process is that you are only allowed to hold one fellowship that you can call Consortium, but that doesn’t stop other schools from offering you school based scholarships if you qualify for them. So the rankings may say that you are only allowed to get one scholarship that is called Consortium, but if school #3 and #4 really want you, that doesn’t stop them from offering you aid outside of the Consortium scholarship, or offering you any kind of merit based money outside of the Consortium scholarship. So you are not limited in this process; the rankings do not limit you in any way.

View the full Q&A transcript or listen to the mp3 recording of the event now!

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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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Consortium Admissions Strategy Q&A TODAY!

Are you interested in applying to business schools through the Consortium? Do you want to contribute to the mission of creating diversity in the business world? Do you want to learn how to create an effective application strategy for the Consortium?

Now is your chance to get your questions answered and increase your chances of getting accepted to the Consortium.

Join us later today, Thursday, November 4, 2010 at 5:00 PM PT / 8:00 PM ET / 12:00 AM GMT* for an interactive Q&A session with the Consortium’s Recruiting Manager, Rebecca Dockery.

There will also be a panel of admissions directors from participating schools available to answer your questions. If you plan on applying to any of the following business schools through the Consortium, then this Q&A will be particularly relevant to you: Emory Goizueta, UNC Kenan-Flagler, USC Marshall, Dartmouth Tuck, NYU Stern, UCLA Anderson, Michigan Ross, Texas McCombs, and Wisconsin School of Business.

Register now to reserve your spot for today’s Consortium Admissions Q&A!

* Due to time zone differences, the chat will begin on the next calendar date for the indicated time zones.

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Emory Goizueta 2011 MBA Application Questions, Deadlines, Tips.

Emory Goizueta 2011 MBA Essay Questions

This Emory Goizueta 2011 MBA Application tip post is one of a series of posts providing MBA application and essay advice for applicants to top MBA programs around the world. You can access the entire series at http://blog.accepted.com/acceptedcom_blog/tag/2011-mba-application-tips. My tips for answering Goizueta’s essay questions are in blue below.

In separate documents, please address the following questions. On the top of each page, please indicate your full name as listed on your application and the question to which you are responding.

1. Please answer each of the following four questions in a short paragraph of no more than 250 words each.

a. Why have you decided to pursue an MBA at this time?

b. What interested you in Goizueta Business School’s MBA program?

c. What are your short term post MBA goals?

d. What are your long term professional aspirations?

This is a variation on the classic MBA goals question. Connect the dots between your past, present, and future. Use specifics to highlight your achievements and pivotal experiences. Show that Goizueta will help you achieve your goals. Summary: How will the Emory MBA help you get from your current skill set and experiences to your short- and long-term goals?

2. Share one of your most significant professional accomplishments. Describe your precise role in this activity and how it has helped to shape your management skills. Please limit your response to 1000 words.

When have you really had impact on an organization? When have you contributed to an increase in membership or sales, a decrease in expenses or time to market, or a change of policy. Any of these outcomes could represent a significant professional or organizational accomplishment for you.

Make sure that the essay both defines your role and the impact of your achievement as well as the influence this experience has had on your views of management and your management skill set.

3. Goizueta Business School takes pride in our Core Values: Courage, Integrity, Accountability, Rigor, Diversity, Team, and Community. These ideals drive principled, effective leaders in business, and are the values we seek to instill in all of our students, both during their education at Goizueta and beyond. Provide a specific example of how you have demonstrated one of these values in your professional experience. Please limit your response to 500 words.

As you reflect on this question, also review Goizueta’s core values. All your essays should demonstrate that you identify with these values. 

This question, however, asks you to choose one example that reveals your commitment to one of these values, not all of them and not many examples. Keep this essay focused and tell a story.

4. Complete one of the following statements. Please limit your response to 500 words.

a. I am unique because…

b. My most memorable cross-cultural experience…

c. I am passionate about…

d. My personal brand is…

e. I took a risk when I… 

Don’t sit there and try to calculate which questions Emory really wants you to answer. It is giving you a choice so that you choose the two that allow you to best present yourself to the admissions committee. Choose topics that will complement the other elements of the application and perhaps address a possible short coming or even a stereo-type.

Optional Essay: If you have additional information or feel there are extenuating circumstances which you would like to share with the MBA Admissions Committee (i.e. unexplained gaps in work experience, choice of recommenders, academic performance issues, areas of weakness in application), please complete this optional essay in 250 words or less.

If there is something you believe would add to your case for admissions that is not covered in the rest of the application, write about it here. Given that you have a maximum of 250 words, realize that this questions requires focus. Focus on one facet of your life or an experience that is important to you,  reveals the human being you are, and isn’t described in other parts of the application.

You can of course also use this essay to “explain” a weakness, but I hate to end your application on that note if it can be avoided. So weigh your options. If you have something to explain, do so. If you can tuck the explanation somewhere else in the application, more power to you. If the  best place for the explanation is this last essay, so be it.

FOR RE-APPLICANTS

Applicants who have applied to Goizueta Business School in the past should answer essays 1 (above) and the reapplicant essay below (re-applicants may also answer the optional essay).

Re-applicant Essay: Please explain how you have improved your candidacy for Goizueta Business School’s MBA Program since your last application in 250 words or less.

This is THE key question for all reapplicants. Goizueta just asks it explicitly. Please see:

If you would like help with your Emory MBA application, please consider Accepted’s MBA essay editing and admissions consulting or an Emory MBA School Package, which includes essay editing, interview coaching, consultation, and a resume edit for the Goizueta MBA application.

Emory Goizueta 2011 MBA Deadlines

Applications are reviewed on a rolling basis. Applications received after the final deadline will be reviewed on a space available basis. Applications will not be reviewed until they are complete with all required materials including official test scores, recommendation letters, official transcripts, essays, resume and interview (where applicable). We encourage candidates who have submitted their on-line application to log into OPUS to verify materials received and to check their application status. The Admissions Office cannot accommodate requests to verify materials received over the phone.

Application Deadlines

  • November 1, 2010 – Early Deadline
  • December 1, 2010* – Recommended International Deadline
  • February 1, 2011** – Scholarship and One-Year Program Deadline
  • March 1, 2011 – Final Deadline

* International applicants are encouraged to apply by December 1, 2010. However, applications received by the final program deadline will still be given complete consideration.

** All One-Year Program applicants and all those who wish to be considered for scholarships must submit the application and all materials  by February 1, 2011 to be given complete consideration.

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

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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Fiske’s Picks: 10 Undergraduate Business Programs You Should Check Out

Edward Fiske, author of The Fiske Guide to Colleges, has just come out with a new list. His list, “Ten Business Schools that Should Be On Your Radar,” highlights ten top undergraduate business school programs. Unlike other rankings that look at dropout rates, starting salaries, and other more scientific findings, Fiske’s list is more subjective, based on “peaks of excellence of various types.” “It’s an art,” he continues, “not a science,” which is why you’ll see that many of Businessweek‘s top undergraduate business programs don’t make it to Fiske’s list.

Fiske’s picks will be published in the 2011 edition of The Fiske Guide to College. In the meantime, Businessweek‘s Getting In blogger, Zachary Tracer, gives us a preview of Fiske’s top ten undergraduate business picks, listed here in alphabetical order:

  • Babson College
  • UC Berkeley Haas School of Business
  • Claremont McKenna College
  • Emory Goizueta
  • MIT Sloan
  • Michigan Ross
  • NYU Stern
  • UPenn Wharton
  • University of Richmond Robins School of Business
  • Washington Olin

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New Rankings: Best Undergraduate Business Programs by Specialty

Bloomberg Businessweek released its annual ranking of the Best Undergraduate Business Programs by Specialty last week.

Graduating undergraduate business students from 139 participating schools assigned letter grades (A-F) to 12 specialty areas in their school’s business program. Scores were then calculated for each category to help BBW generate their specialty-specific top-ten lists.

Findings show that top-ranked programs were more likely to appear on more specialty-specific top-ten lists. Notre Dame took the cake, appearing on eight out of twelve top-ten lists.

For the sake of space, we’ll list the top three programs in each of the twelve categories. For full rankings coverage visit BBW‘s “Best Business Programs by Specialty.”

Top Programs in Accounting

  1. University of Notre Dame (Mendoza)
  2. Brigham Young University (Marriott)
  3. Emory University (Goizueta)

Top Programs in Business Law

  1. University of Virginia (McIntire)
  2. Emory University (Goizueta)
  3. Loyola College in Maryland (Sellinger)

Top Programs in Calculus

  1. MIT (Sloan)
  2. Carnegie Mellon University (Tepper)
  3. Wake Forest University

Top Programs in Ethics

  1. University of Notre Dame (Mendoza)
  2. Northern Illinois University
  3. University of Denver (Daniels)

Top Programs in Financial Management

  1. Case Western Reserve University (Weatherhead)
  2. Babson College
  3. Georgetown University (McDonough)

Top Programs in Macroeconomics

  1. University of Virginia (McIntire)
  2. University of Notre Dame (Mendoza)
  3. New York University (Stern)

Top Programs in Marketing Management

  1. MIT (Sloan)
  2. College of William & Mary (Mason)
  3. Babson College

Top Programs in Microeconomics

  1. Babson College
  2. University of Florida (Warrington)
  3. Washington University – St. Louis (Olin)

Top Programs in Operations Management

  1. MIT (Sloan)
  2. University of Michigan (Ross)
  3. Carnegie Mellon University (Tepper)

Top Programs in Quantitative Methods

  1. MIT (Sloan)
  2. Carnegie Mellon University (Tepper)
  3. University of Texas – Dallas

Top Programs in Strategy

  1. Rensselaer Polytechnic Institute (Lally)
  2. Babson College
  3. Emory University (Goizueta)

Top Programs in Sustainability

  1. Babson College
  2. College of William & Mary (Mason)
  3. University of Virginia (McIntire)

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MBAs Search for Green Pastures

A recent BusinessWeek article, titled “MBAs with a Social Conscience,” reports that more and more MBA applicants have social enterprise, nonprofit work, and sustainability on their minds when it comes to choosing a post MBA career path.

Adcoms from top MBA programs are seeing increases in the interest applicants show for these idealistic, “nontraditional sectors.” Assistant dean of admissions at Columbia Business School, Mary Miller, describes the new applicant mantra of “doing good while doing well.” This attitude, she explains, reflects a new optimism that MBAs truly want to improve the world around them.

Changes in student interests and priorities will, no doubt, drastically “reshape the recruiting landscape and transform the very idea of what an MBA is for.”

For one, explains Sarah Slaughter, coordinator of the Sustainability Initiative at MIT Sloan, these idealistic students are having a positive effect on potential employers—after all, working to improve a community makes good business sense.  Being able to address environmental and social issues will put these new MBAs one step ahead of their less-socially conscience predecessors.

In response to the growing desire to bring about change, top MBA programs are implementing new programs and courses to reach their green-minded students. MIT Sloan, for example, offers a certificate program in sustainability and sustainability internships.

Listening to your conscience sometimes has its downside: People who commit to a career in the nonprofit sector won’t make nearly as much money as, say, an investment banker. To encourage students to follow their socially conscious dreams, top b-schools, including Columbia and Emory’s Goizueta, are offering to alleviate some of the financial burden that comes along with taking a job in these socially responsible, greener fields.

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