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?

Valentine’s Day, Economics, and Stanford GSB

Listen to our interview with Dr. Paul Oyer!The Valentine’s Day episode of Admissions Straight Talk — the perfect opportunity to invite… an economist to be our guest on the show.

Listen to the full recording of our enlightening conversation with Dr. Paul Oyer, Professor of Economics, at Stanford’s Graduate School of Business. Dr. Oyer and Linda discuss the common thread between dating, economics, and admissions. Spot-on, right?

00:02:12 – Featured Applicant Question: Do I need to explain my low GPA to the adcom?

00:06:18 – Why Dr. Oyer wrote Everything I Ever Needed to Know about Economics I Learned from Online Dating.

00:11:04 – The limits of economics in explaining online dating.

00:15:49 – How offline dating is like an economic market too. (Yup, economists take the fun out of everything.)

00:17:42 – Signaling: Why education is a waste, but still serves a purpose. How virtual roses signify credibility. And what the college/grad school admissions process has to do with signaling.

00:32:06 – The parallels between economics and dating – Wonderful, but not surprising.

00:33:47 – An interesting aspect of the law and MBA student internship-to-job-offer ratios.

00:38:20 – A Stanford GSB professor’s reflection on the defining characteristic of students at that b-school.

00:40:51 – How Dr. Oyer’s books have changed his teaching.

00:43:36 – What MBA students need to know before they start school.

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

Related Links:

• Everything I Ever Needed to Know about Economics I Learned from Online Dating
Roadside MBA: Back Road Lessons for Entrepreneurs, Executives and Small Business Owners 
• How to Be a Better Valentine, Through Economics
• Stanford GSB Zone
• Stanford GSB 2015 MBA Questions, Deadlines, Tips
• Get Accepted to Stanford GSB, a free webinar

Related Shows:

• A B-School Professor on Main Street, USA
• The Stanford MSx Program for Experienced Leaders
• MBA Project Search: Matchmaking for MBAs and Businesses
• Entrepreneurship at Stanford GSB: Carlypso Drives Down the Startup St.

Leave a Review for Admissions Straight Talk:

Check Out Admissions Straight Talk in iTunes! Check Out Admissions Straight Talk in Stitcher!

Are Schools Reducing Their Number of Admissions Essays?

Applying to Stanford GSB? Check out our Stanford application essay tips!

Is Stanford a trendsetter?

Elite schools like Yale, Wharton, and Stanford looked like they were starting a trend in cutting the number of required admissions essays for applicants, but according to Kaplan Test Prep’s 2014 business school admissions officers survey, most U.S. MBA programs haven’t followed their lead. The survey indicates that just 13% of the participating 204 business schools say they reduced the number of essays for this admissions cycle, compared to last year. Only 3% of schools plan on further reducing the number of required essays for the next application cycle.

According to Kaplan Test Prep’s executive director of pre-business and pre-graduate programs, Brian Carlidge, “Our survey finds that the overwhelming number of MBA programs continue to see value in applicants submitting more information about themselves. From what we’ve seen, the business schools that have cut their number of admissions essays are doing so to streamline the process, believing they can get what they need from applicants through fewer, more focused essays. While it may sound counter-intuitive, some applicants may find fewer essays and lower word counts difficult as it forces them to be more succinct. We encourage all aspiring MBAs to put effort into their essays, no matter the number or word count, as this piece of the application gives them the opportunity to show admissions officers why they’d be a good fit for the school in a way that their GMAT score, undergraduate GPA and work experience cannot.”

Analysis.

I certainly agree with Kaplan that MBA applicants need to put serious effort into their essays regardless of how many there are, but I found the disconnect between the highly publicized drop in essays for top-ranked programs vs. the relatively constant number of essays for lower ranked programs curious.

I’m going to indulge in speculating about the causes of this discrepancy:

The competition among the elite programs is intense. Application volume is a factor in rankings and also in perception of a school’s panache. Since more application work essentially raises the cost of applying, more essays could mean fewer applicants for these highly competitive programs. And they don’t want the hit to their application volume.

Perhaps lower ranked programs are more concerned about yield than about application volume. They want to accept people who put a little more effort into their applications. That effort implies the applicants are more invested in the application and are signaling more strongly that they really are interested in attending the programs they are applying to.

Finally another thought that really calls into question the validity of the Kaplan conclusions: While the Kaplan survey asks specifically about essays, it doesn’t discuss information being collected in short-answer responses and in boxes in the application. Many schools, notably HBS, have moved much of the information gathering to these boxes and short-form answers as opposed to the essays of a few years ago.

It’s a mistake to assume that those short-form answers are any less important than the essays.
MBA 5 Fatal Flaws
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:

School-Specific MBA Application Essay Tips
MBA Rankings: What You Need to Know
How to Answer “Mini” MBA Essay Questions

Entrepreneurship at Stanford GSB: Carlypso Drives Down the Startup Street

Click here to listen to the podcast!Thinking of launching a disruptive start-up? Dying to attend a leading entrepreneurial MBA program? Well meet Nick Hinrichsen and Chris Colemen, founders of the start-up Carlypso, which Tech Crunch calls a “brilliant concept.” Oh, and they earned their MBAs in 2013 from Stanford GSB.

Listen to the recording of this intriguing interview as we discuss the founding of Carlypso, life as a Stanford GSB MBA student and the impact of the Stanford experience on the Carlypso launch.

00:01:37 – You asked, Linda answers! Linda explains why you should only give ONE example or story when application questions ask for one example.  Adding more than one can do more harm than good.

00:05:08 – What is Carlypso?

00:07:30 – Where did the idea for Carlypso come from.

00:10:39 – Who benefits from using Carlypso?

00:12:40 – Did their Stanford MBA degree really help them?

00:19:10 – Are people overestimating entrepreneurship at Stanford?

00:21:42 –  The Stanford MBA’s impact on Nick’s and Chris’s work.

00:23:10 – The $50,000 coffee that helped start Carlypso.

00:26:14 – Interested in attending Stanford? Nick and Chris give tips on how to get accepted (and rejected).

00:27:45 – Fail, and fail gracefully, but don’t do it again.

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

Relevant Links:

• Carlypso
• Tushar’s comment and my response
• Carlypso Could Change Everything About How We Buy And Sell Used Cars
• Stanford GSB Essay Tips 

Relevant shows:

• Life as an HBS MBA
• Dr. Douglas Stayman Shares the Scoop on Cornell Tech NYC
• Business, Law and Beyond: An Interview with John Engelman
• The Stanford MSx Program for Experienced Leaders
• Which Schools are Good for PE/VC and VC-Backed Entrepreneurship
• Jeff Reid on Entrepreneurship

Leave a Review for Admissions Straight Talk:

Check Out Admissions Straight Talk in iTunes! Check Out Admissions Straight Talk in Stitcher!

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

Accepted.com: The Premier Admissions Consultancy

 

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?