What up what up?!? Yes, I’m back to writing. I wanted to write this post because I saw this article yesterday posted in the Johnson class of 2013 FB page and I laughed a little bit – well A LOT! To be honest, I didn’t even know that Business Insider had a B-school ranking and after reading the article I realized why.
So, this post will speak to why it’s important to understand the different publication ranking methodologies. You can go ahead and read the article for yourself to see where different schools rank, but I want to call out a couple of issues that I have with this ranking.
1. What the OTHER field is and why it’s slightly over 35%?
So they used Survey Monkey to poll “managers, HR recruiters, and business owners in all fields who have experience hiring candidates with MBAs.” OK fine. I don’t have a problem with that. Now, when they talk about the FIELDS, here they are:
So what people would deem to be the 3 largest industries for MBAs (Marketing, Finance, Consulting) were some of the lowest percentages of people polled. There are a lot of industries here so I’m wondering what the OTHER is and why it’s slightly over 35%.
2. They poll industries that are historically not the feeder industries for MBAs
Business Insider also asked respondents to determine the value of an MBA. A majority (61%) of respondents said that an MBA is “slightly important” or “moderately important.” Only 3% of respondents said that an MBA is “extremely important.”
In my head I immediately thought, “Um… of course that was the outcome of the poll when you poll industries that are historically not the feeder industries for MBAs.” Sure there are caveats but the majority… hhmmmm…
3. Lack of research
Now, I know for a fact that my school’s tuition (#6 on the list) is NOT $42,000/year while other school’s are $80,000 – $90,000/year. If I missed that memo then I should definitely get a rebate in the mail for about $35,000. I think the highest yearly tuition that I’ve seen is about $98k for a school like NYU Stern. I don’t feel like checking that right now. Okay fine, for the sake of this blog post I will…
Johnson at Cornell University = $78,000
Columbia GSB = $93,000
NYU Stern = $98,000
Michigan Ross = $73,000
*These figures include Room & Board, which is why Columbia & NYU are much higher because rents in NYC are HIGH!
But… this goes to show that there wasn’t much attention paid when putting together this ranking. I know where the $42,000 number came from because Business Insider took the 1 year Accelerated MBA program figures, but if there’s anything that one learns in b-school it’s to check your sources because if you present wrong numbers then your credibility is shot.
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