School ranking... does it really matter?

[rubikscube]

Hi,

I am a newbie to this forum. I am currently preparing for GMAT in hopes to get into a B-school in US. I haven't even appeared for GMAT and am still figuring out the application process.

I just had a question in mind - does a B-school ranking make your MBA education more valuable?

[Jon@Admissionado]

Wow man! your first post and you are asking the toughest question there is.
Answer: no. and yes.

What's important in an MBA is NOT ultimately the ranking, it's what you can get out of it. Meaning we are all looking for better jobs, highest salaries, new opportunities, and more business knowledge. IF a school ranked 50 can get you the same (or almost same) results as a school ranked 1, what difference does it make?

But then comes in the issue of "prestige", and very often just having the word Harvard or Wharton on your resume boosts your chances of getting a job or a particular salary, so it does matter.

But very often you can work around the rankings, for example if you are interested in Healthcare, you can apply to a school like Ross or UNC which have some of the best healthcare programs in the nation, even though they aren't ranked number one as far as MBAs go. And depending on your goals they may even be better for you than the number one school which has no resources for healthcare people at all.

Catch my drift?

Rankings aren't a solution, and really you gotta tailor your target schools for YOU - for your character, for your goals, for your likes, etc.

[rubikscube]

Thanks for your reply. I do understand where you are going.

To be more specific with my question I have certain constraints of my own - I am in no position to take huge student loans or move to a different place for school. So I need to understand the ROI of getting MBA from an Ivy League school or a ranked business school v/s MBA from a non-ranked school.

So, my question is - with these constraints should I consider MBA at all? Does a business degree from other universities add value to my resume?

I hope I don't sound too naive.

[Jon@Admissionado]

Not at all.
It's a good question and a tough one because every individual has their own goals/dreams/needs. I would say it depends what you want. I know some people who have done MBAs at no-name places because they wanted to study for free (or as close to it as possible) and all they wanted or needed was the knowledge. But for most regular folks it's that "name on the resume" that they are going for, as far as prestige.

But again it depends on where you are coming from and where you are going. Let's say for example you are an Indian candidate. You are a smart guy, ambitious, but don't have the stats to get in Harvard. What if you got into a number 40-50 with very good employment statistics, and a focus on your industry. So, when you are done, instead of making 125K per year as an HBS graduate, you are making 90 or 80 or even 70. But you found your job. You got a better position, and much better salary that your home country. You spend some years abroad expanding your horizons. Sounds good too!

But like I wrote, it's really a case by case thing, and everyone needs to build their strategy somewhere between their reality and their dreams.

[PrepMBA.AlexLeventhal]

Hard working and motivated MBA students from outside of the Top 10 can be incredibly successful and even more successful than less focused, job changers who went to a better program. If you really want an MBA, you can still pay back your investment relatively quickly if you live and spend sensibly. I have clients who got into programs like Pepperdine, have gotten all their subsequent jobs from their alumni networks (vs postings), and are now earning over 200K. Be sober about your chances at the top schools and apply to a range of schools that gives you a safe probability.

[rubikscube]

Thank you Jon and Alex. You guys have really made my decision a lot easier.

[money9111]

I agree with the previous posters. As someone who will be starting my core classes TOMORROW at the Johnson School, and after having been through many speeches and presentations throughout orientation the last couple of weeks, the answer is it DEPENDS. It depends on all of those factors and admissions officers will vet for what they deem an appropriate answer to "Why Business School/Why this school?" Be ready...and try not to falter... Best of luck!

[beatthegmat]

I agree with the previous posters. As someone who will be starting my core classes TOMORROW at the Johnson School, and after having been through many speeches and presentations throughout orientation the last couple of weeks, the answer is it DEPENDS. It depends on all of those factors and admissions officers will vet for what they deem an appropriate answer to "Why Business School/Why this school?" Be ready...and try not to falter... Best of luck!

By the way, Richard--GOOD LUCK TOMORROW! We hope you keep us posted on how your first Core class goes.