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?

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Related Resources:

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

MBA Interview with Stanford MSx Student Erik Moon

Get the scoop on the Stanford MSx Program! 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 chat with Erik Moon, a recent graduate from Stanford MSx.

Accepted: First, can you tell us a little about yourself? Where are you from? Where and what did you study as an undergrad? Where did you go to business school?

Erik: First of all, I’m a bit older than the typical MBA student. I’m in my early 40s and have nearly 20 years of experience in product management, project management and operations in telecom, data centers and corporate IT. I’ve spent about half my career in Silicon Valley and the other half in Northern Virginia – so the two primary schools I was interested in were UVA / Darden and Stanford GSB.

I did my undergrad (BS Economics) as well as a masters degree (MS Information Systems) at George Washington University in Washington DC. I just graduated (2014) from the Stanford MSx program (previously known as the Sloan Fellows program). It is a full-time one-year program for experienced professionals. The summer / fall quarters are spent taking mostly core classes (like an MBA 1st year) and the winter / spring quarters are mostly electives (like an MBA 2nd year).

Accepted: What’s the difference between Stanford Sloan and Stanford’s MSx degree? 

Erik: Same thing… The Sloan program has almost 60 years of history as a degree program for experienced professionals. The program has changed significantly in the last few years to make the curriculum more flexible and incorporate the opportunity for many more electives than in years past. It is a 4-quarter full-time degree program, so Stanford doesn’t like to call it an EMBA – so students are not able to continue work while taking classes, but many students (approx 30%) are sponsored by their employers.

Accepted: What is your favorite thing about Stanford? And if you could change one thing about the program, what would it be?

Erik: That is a huge question! My favorite thing about Stanford has to be the optimism – the students all expect to be doing great things some day. People don’t come to Stanford just to slowly climb into middle management. The GSB motto – Change lives. Change organizations. Change the world. – is not an exaggeration…

If I could change one thing, I would want to increase awareness of the MSx program. It is a hidden gem that many people have simply never heard of in their b-school search. I think the branding (not wanting to call the program an EMBA) makes it very confusing. When mid-career applicants ask if Stanford GSB has an EMBA, the first answer is “NO” – then these applicants simply look elsewhere. But if they ask the right question – “Does Stanford GSB have a mid-career graduate business degree program?” – they would find the best “executive-level” business degree at the best b-school in the world.

Accepted: Can you share some advice to incoming students, to help make their adjustment to b-school easier? What do you wish you would’ve known when you started the program?

Erik: Since it is only a 1-year program, it is important to understand exactly what you want to get out of your short time on campus and quickly figure out how to get it. It requires a lot of initiative and focus when there are lots of life changes and distractions all around. You can’t sit back and expect all the good things to come to you – students need to actively seek opportunities and grab it.

That said, Stanford GSB has an acronym – FOMO. Fear Of Missing Out – there are so many events, clubs, guest speakers, presentations, brown-bag-lunches and other things happening that it is really easy to get frustrated or swamped. You have to come to the realization that you will never be able to attend everything. Again, important to quickly determined what you will get the best value for your time and prioritize!

Accepted: Can you tell us about Stanford’s unusual six-point grading system?

Erik: I blogged about this here: http://sloanlife.com/2014/08/02/gsb-grades-the-elusive-h/

Bottom line: Get your highest possible marks as early as possible and anchor your GPA nice and high while you’re taking relatively straightforward core classes. This affords you the freedom to later take classes you WANT to take and not worry at all about the grades.

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

Erik: Not at all central, but the clubs are great ways to find other students with similar interests (and usually get a lot of free food / beer). I mostly spent my time with Entrepreneurship Club and High Tech Club. Participation is completely optional and you could certainly get by with never attending a club event…

Accepted: Now that you’ve graduated, what are you up to?

Erik: I’m currently working on a startup – Hinted.com – we’re building a platform for personal and professional feedback.

Accepetd: Looking back, what was the most challenging aspect of the b-school admissions process? How did you approach that challenge and overcome it?

Erik: I should have gotten off my ass and applied sooner… I could easily have done this 3-4 years ago… The GMATs were a perfect excuse for me to procrastinate. In retrospect, should have just bitten the bullet a long time ago when the quant material was a lot more fresh in my mind.

Accepted: Do you have any other advice for our business school applicant readers?

Erik: Apply to the best school you know you will get into first (and that you would be willing to go to) – and apply early! This will take off all the pressure. Once you have this acceptance, you can go pursue the dream schools top down, instead of inching upwards. This is the approach I took – I first applied to UVA Darden GEMBA and was accepted. I was completely willing to take that program – but then I started realizing that maybe I should try getting into more exclusive programs. I applied to Stanford MSx and intended to apply to Wharton San Francisco. I was accepted into Stanford and didn’t even have to fill out another application.

Also, if you want to go to a top school, don’t even bother applying until you can post a 700 GMAT or better. The application process is simply too competitive.

You also need to distinguish yourself in some way. You can have a 750 GMAT, a 3.9 GPA and great work experience and not look like an interesting candidate. Find something interesting about yourself where you can truly say that you have world-class talent / skills / experience to differentiate yourself.

Don’t hold back – you are your own best advocate – your b-school application is not the time for modesty (but don’t lie either). Demonstrate how you will take what Stanford (or other school) will give you and leverage that to give back to the community.

For one-on-one guidance on your b-school application, please see our MBA Application Packages

You can read more about Erik’s b-school journey by checking out his blog, Sloan Life. Thank you Erik for sharing your story with us – we wish you loads of luck!

Get Accepted to Stanford Graduate School of Business! Click here to learn more!

Accepted.com: Helping You Write Your Best

Related Resources:

• The Stanford MSx Program for Experienced Leaders
• What Stanford is Looking for: Personal Qualities and Contributions
• Stanford GSB 2015 MBA Questions, Deadlines, Tips

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?

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?

Accepted.com: Helping You Write Your Best

Related Resources:

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