mba program ranking generate a lot of interest and are a subjective assessment of the quality of the school or the program offered. they are generally based on questionnaire answers and compare many different aspects of mba programs or business schools.
for example, some criteria that are used to compile the rankings are:
- reputation based on the opinion and judgment of recruiters, academics and / or graduates
- salaries on graduation or salary increases of graduates
- gmat scores
- alumni attitudes towards the quality of the mba program
- academic reputation or the rating of research
looking at all the different criteria used can make it difficult to draw comparisons between different mba rankings. however, there are a few major ranking surveys that draw the attention of students, business schools and employers alike and these tend to be used most often as a benchmark to compare mba schools.
the rankings can also prove useful in researching other aspects such as:
- academic reputation of mba program, as judged by academics and recruiters. for example, the wall street journal guide to top business schools 2006 offers a recruiter's perspective of the ranking of business schools
- mba program acceptance rate, average gmat score, tuition fees and number of places available
- what the student profile is and also how international the program is
- top companies recruiting from that business school and employment rates following graduation.
however, bear in mind that many of the business schools do not agree with the methodologies used, even some of the schools that appear top of the ratings. so, to summarize:
- be aware of the limitations in the methodologies used in compiling the mba program ranking
- use the mba program ranking in conjunction with other resources, such as the best 282 business schools (2007) by princeton review and businessweek guide to the best business schools to help you to select the right business school for you.
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for more details of the different mba program ranking surveys, please click on the link below to visit the appropriate website, which will open up a new window: