BusinessWeek 2008 Rankings

[Graham]

BusinessWeek Releases 2008 Business School Rankings, Chicago Booth Tops U.S. List

BusinessWeek released its 2008 rankings of the world’s top business schools as part of a live chat event moderated by editors Louis Lavelle, Geoff Gloeckler and Francesca Di Meglio. The chat format was designed both to build excitement around the rankings’ release and provide readers with an opportunity to ask questions about everything from the rankings methodology to the suprises the BW team encountered while compiling the list.

Kicking things off, Gloeckler began by revealing the top 10 international schools, counting down to the top spot. They were

10. Oxford (Said)
9. IESE
8. Toronto (Rotman)
7. IMD
6. ESADE
5. London Business School
4. Western Ontario
3. INSEAD
2. IE Business School
1. Queens

Queens holds the top spot in the global MBA rankings for the third consecutive year. But at number two, IE is a newcomer to the rankings. Number three INSEAD, meanwhile, advanced from the number six spot it held last year.

Lavelle then took the reins, doling out the top 30 U.S. full-time MBA programs one by one. We won’t list all 30 here – for that you can check the BW site – but we will give you the top 15. Drumroll please:

15. Indiana (Kelley)
14. UCLA (Anderson)
13. NYU (Stern)
12. Dartmouth (Tuck)
11. Cornell (Johnson)
10. UC Berkeley (Haas)
9. MIT (Sloan)
8. Duke (Fuqua)
7. Columbia
6. Stanford
5. Michigan (Ross)
4. Penn (Wharton)
3. Kellogg (Northwestern)
2. Harvard

And for the second year in a row…though sporting a new name…BW’s top-ranked U.S. MBA program is the University of Chicago’s Booth School of Business.

As always, we encourage you to use these rankings as one of several tools for researching which MBA program promises to best fit your individual needs and goals.

While not yet live on the BW site at the time of this posting, the full rankings will no doubt be available there soon, and we will provide analysis of this year’s shifts among those jockeying for the top spots in upcoming posts. But for now, we wanted you to have the information as soon as it was released.

https://blog.clearadmit.com/2008/11/busi ... s-us-list/

[VP_MBA_Guru]

Thanks for posting Graham.

Hate to say it, but you gotta question any ranking that doesn't put Stanford in the top 2... or even top 5! (my views, not those of my employer)

Would love to hear what others think...

[chet steadman]

Those rankings really depress my target schools (Stanford, Haas, Wharton, Sloan)

[jsl]

I know that one should take rankings at face value but can someone elaborate more on how businessweek calculate rankings? For instance, I know the FT ones put a lot of weight on salary increase which depresses some schools such as Yale, which have a lot of grads going into the public sector.

Can anyone tell me how businessweek weight its rankings?

Thx

[jsl]

anyone able to comment on this?

Thx
JSL

[Graham]

I know that one should take rankings at face value but can someone elaborate more on how businessweek calculate rankings? For instance, I know the FT ones put a lot of weight on salary increase which depresses some schools such as Yale, which have a lot of grads going into the public sector.

Can anyone tell me how businessweek weight its rankings?

Thx

Dear JSL,

Take a look at this link on the BW site. It explains the methodology used by the publication to create the ranking.

https://www.businessweek.com/bschools/faq/index.html

As you will see, the survey is based on a number of factors (employer surveys, student surveys, intellectual capital, etc).

Regards,

Graham

[Graham]

Here's Clear Admit's analysis on the BW Rankings:

BusinessWeek 2008 Business School Rankings: A Closer Look

Today we’ll take a closer look at how the various top programs fared in BusinessWeek’s most recent business school rankings, released last week.

Chicago Booth held firmly to the number one spot it secured in the 2006 rankings, boasting high scores in both the corporate recruiter and graduate surveys. Harvard Business School (HBS) and Wharton traded places this year, with HBS climbing to number two and Wharton slipping to number four. BW’s Louis Lavelle attributed Wharton’s slide to a poorer showing in the intellectual capital category this year than in 2006.

Columbia, meanwhile, advanced from the number 10 spot to number seven, but MIT Sloan and Berkeley’s Haas School of Business each slipped slightly. Also noteworthy was the fact that Southern Methodist University (18) and Brigham Young University (22) each cracked the top 25 this year for the first time ever. SMU, for its part, has been among the participating schools for years, but lacked sufficient response rates in the recruiter and student portions of the ranking to secure a top spot before now, according to BW’s Geoff Gloeckler.

There were also two newcomers to the Global MBA rankings, IE Business School (2) and Oxford’s Saïd Business School (10). Like SMU, IE has long been a participant but until this year had insufficient recruiter and student response rates, Gloeckler said.

Yale School of Management, meanwhile, seems to have fallen back slightly. It came in at 24 this year, down from 19 in 2006. Lavelle attributed its fall to low student survey scores.

In an article accompanying the rankings, BW takes a look at the current business school landscape, which it says is marked by surging application rates amid “wretched” recruiting prospects.

As has historically been the case in times of economic downturn, application rates to business schools are rising steadily. According to the BW report, schools are reporting double-digit increases in application volume. Chicago Booth, for example, has seen a 20 percent surge in attendance at information sessions around the globe.

But even as more students clamor to get in, job prospects upon graduation are uncertain, with some schools bracing for the toughest MBA job market since the dotcom bust. “I think next fall is going to be very, very difficult,” George Daly, dean of Georgetown University’s McDonough School of Business, told BW.

The article went on to cite a survey by umbrella group MBA Career Services Council, in which 70 percent of 77 participating schools reported a downturn in full-time recruiting opportunities in financial services in October.

As a result, some students are shifting their focus from investment banking to consulting and other fields. Attendance at recruiting presentations by consulting firms is standing room only, New York University’s Stern School of Business Dean Gary Fraser told BW.

A shift is also taking place in the classroom, as professors are introducing new case studies and re-writing syllabi as part of an effort to make sense of the financial crisis and market upheaval.

Risk management, meanwhile, is expected to play a much more important role in business school curriculums over the next three to five years, according to the BW report, a trend that Robert Meyer, co-director of Wharton’s Risk Management & Decision Processes Center, calls “potentially transformational.”

[AleksandrM]

One of the things that many people overlook about rankings is that there is a certain level of embeddedness to them. Most of the schools ranked are the same from the last 5 to 10 years. There is certainly a feedback cycle that is present in what rankings do to the whole system of business schools. For example, schools that are ranked get more recognition, attract more students, more money, and therefore become even more popular. Provided, majority of the ranked schools have something to write home about.

However, when choosing schools, it is more important to look at fit. Rankings indicate to you how your potential employer will view a given school. Don't forget, though, that a company will employ you - not your school - and what you bring to the table is what matters. Certainly, some schools allow you to gain access to the companies that other schools cannot. Nevertheless, I would argue that there are some really awesome schools that are ranked relatively low.

One thing that I have not seen people discuss is access to professors. Do not forget that many of the professors employed by top schools have a very busy schedule and access is extremely limited. Some barely hold office hours because they are constantly on the run - meetings, presentations, etc. There are some great professors in schools that may not rank as favorably as others, and they will be far more accessible than the professors at some of the top schools.