Top Ranked Part-Time MBAs

The U.S. News has released its list of the top-ranked part time MBA programs.

Here are the top 10:

Are you using the rankings correctly?1. UC Berkeley (Haas)

2. U Chicago (Booth)

3. Northwestern (Kellogg)

4. NYU (Stern)

5. UCLA (Anderson)

6. U Michigan (Ross)

7 (tie). Carnegie Mellon (Tepper)

7 (tie). U Texas- Austin (McCombs)

9. Ohio State (Fisher)

10 (tie). U Minnesota- Twin Cities (Carlson)

10 (tie). USC (Marshall)

For the full list and details of the ranking methodology, visit the rankings. We offer comprehensive consulting services for both full- and part-time MBA applicants!

Are You Misusing the B-School Rankings?
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Related Resources:

• Ace the EMBA
• Tips for Applying to Part-time MBA Programs
• The MBA Family: A Roundup and Overview

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 Trulaske 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?

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

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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GRE vs. GMAT: Trends

A recent Poets & Quants article highlights some of the current data surrounding the decision applicants make in choosing between the GRE and GMAT. According to the Educational Testing Service, almost 10% of MBA applicants took the GRE instead of the GMAT in the 2012-2013 testing year, a 38% increase since last year’s testing period.

One factor responsible for this shift is the fact that some major MBA players (mainly Chicago Booth, UC Berkeley Haas, and Georgetown McDonough) finally decided to accept the GRE.

Here are some additional stats:

• 29% of b-schools surveyed by Kaplan Test Prep said that at least 10% of their applicants were GRE test takers. 18% of schools said that their GRE pool was at 18%. 6% of respondents said that their applicant pool was made up of half GRE test takers and half GMAT test takers.

• At Yale SOM, 21% of applicants submitted GRE scores last year, an increase of 18% since the previous year.

• 25% of Notre Dame Mendoza prospective students submitted a GRE score last year, up from 12% previously.

• At UCLA Anderson, only 3% of applicants submitted GRE scores.

• 5% of Columbia Business School applicants took the GRE last year, compared to 2% the year before.

• At Emory Goizueta, 8% of last year’s prospective students took the GMAT, up from the previous year’s 3%.

• Washington Olin’s GRE pool dropped 7% from 31% in 2012 to 24% last year (which is still high).

• Texas McCombs also took a slight dip, from 13% in 2012 to 11% last year.

• In India, the number of GRE test takers increased 68% last year, from 52,792 in 2012 to 88,884 last year. In the U.S., the increase in test takers over that same period was just 5.3%, from 401,286 test takers in 2012 to 422.668 this past year.

Reasons for the Growth in GRE

• Versatility of the GRE. Rob Weiler, UCLA Anderson’s associate dean, points out that many students are submitting scores from GRE tests they took up to a few years ago. “It’s clear that they had graduate school in mind when they took the test but were still considering the best avenue to take for their career,” he says. “Once it became clear that business school was their choice, they used their GRE score to apply.”

• Price. The GMAT is priced at $250, while the GRE costs only $195.

• Rankings and willingness to accept lower scores. The P&Q article states that admissions consultants are suggesting that applicants take the GRE over the GMAT because of the way official rankings take the GMAT into consideration. “So an admissions office might be overly sensitive to a low GMAT score, but might pass on a lower GRE,” states the article, which then goes on to compare GREs and GMATs of accepted students at Yale – the former being lower than the latter. (Using ETS’ comparative tool, the equivalent GMAT score based on the GRE scores accepted at Yale would be 660; the average GMAT score at Yale is 714. A similar phenomenon is found with other programs, with a 91 point gap at Cornell Johnson, a 126 point gap at Washington Olin, and a 118 point gap at Vanderbilt Owen.)

• The ScoreSelect option. This allows test takers to retake the exam and send only their best score to their target schools.

The following chart comes from the P&Q article and shows the percentage of 2012-2013 applicants who submitted GRE scores, as well as the GRE-GMAT differences.

Check out our GMAT 101 Page!

Source: Business schools reporting to U.S. News & World Report

My thoughts

On one hand, the focus on the comparator tool may be misplaced. When I have spoken to admissions committee members about the GRE we spoke in terms of percentile scores. I would love to see this data and the comparison between the GMAT and the GRE comparing percentile scores. I think that would be more worthwhile. I suspect it would still show similar results, but perhaps with smaller gaps.

Regardless of the validity of the comparator tool, this article suggests that the GRE may not only be cheaper, it may in a way take your score out of the public eye. And if you don’t need a high GMAT to snag an interview at an elite bank or consulting firm, and you’re struggling with the GMAT, the GRE may be a better test for you.

Although I can’t locate the blog post, soon after schools started accepting the GRE in greater numbers, I suggested that those of you with other evidence of academic ability who are struggling with the GMAT should contemplate applying with the GRE. I felt that because the GRE is not reflected in the published GMAT averages that applicants, alumni, and employers use as a quick-and-dirty reflection of student “quality,” submitting a GRE score instead of the GMAT would give admissions officers wiggle room to focus on other aspects of your application. It would allow them to consider your application without worrying about a hit to their GMAT average.

On the other hand if you can do well on the GMAT, go for it. Schools want GMAT bragging rights.

Got GMAT Questions? Visit GMAT 101 for advice.

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.