US News Most Affordable Med Schools

US News and World Report has released its list of the most affordable private medical schools, based on current data for tuition and fees. Here are their top 10:

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(* RNP stands for “Rank Not Provided.” U.S. News does not publish the rank of schools in the bottom quarter of its top 100 med schools.)

Note: Even though Baylor College of Medicine, Lake Erie College of Osteopathic Medicine and University of Miami’s Miller School of Medicine are private schools, they offer discounted tuition for in-state students – the numbers listed above are the out-of-state rates.

As you look at this table, keep in mind a few factors:

1.  When you are choosing where to apply, the marginal difference in cost is what you are going to need to weigh as you decide both where to apply, and if you get multiple acceptances, where to accept.

2.  The figures above are annual tuitions for the current (2014-15) year. Tuition has this habit of going up every year, and most people complete medical school in four years.

3.  Also keep in mind other costs, like the cost of living in a particular part of the country.

Are you misusing the med school rankings? Click here to find out!

Accepted: The Premier Admissions Cosultancy
Related Resources:

Navigating the Med School Maze
U.S. News 2016 Best Medical Schools – Research & Primary Care
• 5 Questions to Help You Decide Where To Apply To Medical School

U.S. News 2016 Best Medical Schools – Research & Primary Care

U.S. News released its graduate school rankings Tuesday. 130 med schools and 26 schools of osteopathic medicine (all fully accredited) were surveyed in late 2014 and early 2015. Of these schools, 116 provided adequate data for creating these rankings.

Let’s take a look at the top 25 med schools in research and primary care…

2016 Best Med Schools – Research

Make sure you are using the rankings correctly!1. Harvard University

2. Stanford University

3. Johns Hopkins University (tie)

3.  UC San Francisco (tie)

5. UPenn Perelman

6. Washington University – St. Louis

7. Yale University

8. Columbia University (tie)

8. Duke University (tie)

10. Chicago Pritzker (tie)

10. Michigan – Ann arbor (tie)

10. University of Washington (tie)

13. UCLA Geffen

14. NYU (tie)

14. Vanderbilt University (tie)

16. University of Pittsburgh

17. UC San Diego

18. Cornell Weill

19. Northwestern Feinberg

20. Icahn School of Medicine at Mount Sinai

21. Baylor College of Medicine

22. UNC Chapel Hill

23. Emory University

24. Case Western Reserve University

25. University of Texas Southwestern Medical School

2016 Best Med Schools – Primary Care

1. University of Washington

2. UNC Chapel Hill

3. UC San Francisco

4. University of Nebraska Medical Center

5. Oregon Health and Science University (tie)

5. Michigan – Ann Arbor (tie)

7. UCLA Geffen

8. University of Colorado

9. University of Wisconsin – Madison

10. University of Minnesota

11. Baylor College of Medicine

12. Harvard University (tie)

12. MSU College of Osteopathic Medicine (tie)

12. UMass Worcester (tie)

12. UPenn Perelman (tie)

16. University of Iowa – Carver

17. University of Alabama – Birmingham (tie)

17. University of Texas Southwestern Medical Center (tie)

19. UC Davis (tie)

19. UC San Diego (tie)

19. Chicago Pritzker (tie)

19. University of Hawaii – Manoa – Burns (tie)

19. University of Pittsburgh (tie)

19. Washington University – St. Louis (tie)

25. East Carolina University – Brody

You can read about U.S. News’ med school ranking methodology here.

For perspective on the significance of these rankings, please see “Medical School Rankings: What Are They Worth?

Are you misusing the med school rankings? Click here to find out!

Accepted: The Premier Admissions Cosultancy

Related Resources:

• Navigating the Med School Maze
• Medical School Admissions 2015-2016: A Dean’s Perspective
• 5 Questions to Help You Decide Where To Apply To Medical School

U.S. News Law School Rankings 2016

U.S. News and World Report just released its 2016 law school rankings. The top 15 schools won’t surprise anyone and provide little change from previous years. Stanford and Harvard tied for the number 2 spot behind Yale.

Click here to download The Law School Admissions Guide: 8 tips for SuccessBelow are the top 15 schools with their previous year ranking from Above The Law:

1. Yale (no change)

2. Harvard (no change)

2. Stanford (+1; ranked #3 last year)

4. Columbia (no change)

4. Chicago (no change)

6. NYU (no change)

7. Penn (no change)

8. Duke (+2; tied at #10 last year with Michigan)

8. UC Berkeley (+1; ranked #9 last year)

8. UVA (no change)

11. Michigan (-1; tied at #10 last year with Duke)

12. Northwestern (no change)

13. Cornell (no change)

14. Georgetown (-1; tied at #13 last year with Cornell)

The biggest drops this year included Lewis & Clark, Seattle, and Louisiana State, which all dropped more than 20 spots. Who went up? Howard, Syracuse and St. Johns.

The biggest change anyone will notice about the rankings are the number of ties (there are even 6-way ties!). US News changed its methodology in calculating post-law school employment – it gave fewer points for schools that employed their own graduates, as opposed to law graduates who went on to the public and private sector.  (Note: these jobs are still factored in but count less than jobs where students stayed at least a year or more.) As you look at the rankings, it’s worth taking particular note of post-graduation employment.
Click here for a free report on 8 Tips for Law School Admissions Succcess
Accepted: The Premier Admissions Cosultancy
Related Resources:

• 5 Ways To Increase Your Chance of Getting Into Law School as a College Junior
• 5 Things Law Schools Want To See in Applicants
• Getting a High-Value Law Degree

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 Trulsake 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?

Financial Times Global MBA Rankings 2015

The MBA Rankings: What You Need to KnowFinancial Times 2015 global MBA rankings  were released this morning. Let’s see how our top schools fared this year…

Top 25 2015 Global MBA Programs (last year’s rank in parentheses)

1. Harvard Business School, USA (1)
2. London Business School, UK (3)
3. UPenn Wharton, USA (4)
4. Stanford GSB, USA (2)
5. INSEAD, France/Singapore (5)
6. Columbia Business School, USA (5)
7. IESE, Spain (7)
8. MIT Sloan, USA (8)
9. Chicago Booth, USA (9)
10. UC Berkeley Haas, USA (11)
11. CEIBS, China (17)
12. IE Business School, Spain (13)
13. Cambridge Judge, UK (16)
14. HKUST, China (14)
15. Northwestern Kellogg, USA (15)
16. HEC Paris, France (21)
17. Yale SOM, USA (10)
18. NYU Stern, USA (17)
19. ESADE Business School, Spain (22)
20. IMD, Switzerland (12)
21. Duke Fuqua, USA (17)
22. Oxford Saïd, UK (23)
23. Dartmouth Tuck, USA (20)
24. Michigan Ross, USA (23)
25. UCLA Anderson, USA (26)

The big news is how little the top 10 changed. More significant movement occurred outside the top 10, as is typical of most rankings. Here are some highlights:

• New to the top 10 in 2015 is UC Berkeley Haas which climbed one spot from 11th place last year to 10th place this year.

• Yale SOM, on the other hand, lost its top-10 berth and fell 7 places from 10th place last year to 17th place this year.

• Big jumpers in the top 25 include HEC Paris which moved from 21st place in 2014 to 16th place in 2015, and CEIBS which jumped from 17th place last year to 11th this year.

• IMD fell 8 slots this year from 12th place to 20th place. For possible reasons behind the drop, please see “5 Key IMD Officials Resign.”

• 7 of the top 10 business schools in 2015 are programs in the USA, which is the same number as last year.

• This is the third year in a row that Harvard Business School snagged the first place position.

• Further down the rankings (top 50), we see more big jumpers, including Imperial College Business School (UK) which jumped from 49th place in 2014 to 34th place this year; Manchester Business School (UK) which went from 43rd to 35th place; The Lisbon MBA (Portugal) which jumped from 52nd to 36th place; and Lancaster University Management School (UK) which jumped from 77th place to 50th place.

• The school that fell the most in the top 50 was Warwick Business School (UK) which fell from 25th place in 2014 to 38th place in 2015.

• Overall the FT rankings reflect the growing strength of Asian and European business schools.

The Financial Times rankings measure average salaries of alumni along with several other factors. Its lead article on the rankings notes that “the financial returns from completing a full-time MBA have fallen over the past three years and while a graduate can still expect to nearly double their salary, the average boost to earnings is down by almost a third from the qualification’s heyday.” It continues to explain that this is particularly true among b-schools in the U.S. (which account for 50 of the top 100 global programs). For an excellent critique of the FT methodology, please see P&Q’s analysis.

Here are some additional highlights from that article:

• In 2015, MBAs who were three years post-MBA reported salary increases of 92%. This is compared to 110% in 2012 and 153% in 2002 and 2003.

• In 2003, b-school alumni from 82% of programs ranked saw salary increases of more than 120% over 4-5 years post-MBA. This year, only 7% saw the equivalent increase.

• A factor contributing to this trend is the drop in MBAs heading into finance and banking (25% in 2015 compared to 29% in 2005). Survey respondents from the finance sector reported an average salary of $152,000 compared to the overall average salary of respondents of $133,000.

My take:

In terms of the flaws in the FT rankings, I suggest you see Poets & Quants excellent critique.

I also suggest you read “Boost to earning from MBAs falls.” The article reflects on the decline in earnings increase from the MBA as well as the weakness in the graduate business education market outside the top tier.

The two are related. Grads from the top business schools by definition snag the highest salaries and sometimes the biggest increase in salaries. The lower ranked schools are struggling to compete, keep themselves affordable, and provide an ROI. Consequently several traditional two-year programs have closed – notably Thunderbird and Wake Forest. One-year programs and specialized masters are increasingly popular and experiencing increasing recruiter demand along with ROI.

For you as a prospective student, you need to focus not on the overall trend in salary increase for MBAs, and not even your ROI today vs what it maybe could have been 13 years ago when you were middle school, but your anticipated return on investment today and which degree is most likely to maximize it.

Frankly 92% increase in salary can be a phenomenal increase depending on where you start at and what you paid for it. And it’s the gift that keeps on giving since the increased salary continues and usually climbs annually for the rest of your career.

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

 

Related Resources:

MBA Rankings: What You Need to Know
2014 BusinessWeek Rankings
The Benefits of an MBA According to John Byrn