US business schools continued to dominate the Economist’s ranking of full-time MBA programs 2019 with Chicago University’s Booth School of Business retaining the first place, leaving just two places in the Top 10 to management institutions in France and Spain.
The Top 10 Rankings
Harvard Business School climbed one place to rank 2 with HEC Paris moving to the 3rd rank. Kellogg dropped from the second spot to 4th rank. Wharton dropped one place to rank 5.
UCLA Anderson moved up two spots to the 6th rank. UC Berkeley-Haas was in the 7th spot followed by Stanford GSB dropping down to 8th rank from its 5th place in the previous year. Michigan Ross dropped two spots to rank 9 and IESE just managed to grab the 10th rank, having dropped four places from the 6th rank in the previous year.
Missing from the top 10 this year were Darden which fell 7 spots to rank 16 and Columbia that dropped to rank 15 from 10th rank.
As in the previous years, US schools cornered as many as 50 spots in the list of 100 B-schools in the rankings.
Ranking Methodology Affects Outcomes
The Economist says it uses It 21 metrics to assess the schools. Pay and placement account for 45%. Everything from starting salaries, pre-MBA versus post-MBA salary hikes and the percentage of graduates who land jobs through the career management centre are taken into consideration.
In order to provide a long-term perspective of the school, it says a weighted average of data from 2019 (50%), 2018 (30%) and 2017 (20%) are taken into consideration.
The data supplied by schools, students and alumni are put in four categories. These are opening new career opportunities (35%), personal development and educational experience (35%), better pay (20%) and networking potential (10%).
The Economist also cautions that the rankings are only an indication of the MBA market at a particular moment. They reflect the prevailing conditions such as salaries, jobs available and the situation at a school at the time of the survey.
How Did the Top Three Perform?
Booth was number one in Personal development and education experience. It was 10 in Student assessment of career service, 23 in Faculty quality, 15 in Student quality, 12 in Student diversity, 10 in Education experience, 11 in salary increase with a 61% increase on pre-MBA salary.
It was 5 in Post-MBA salary, 9 in network potential, 46 in the breadth of the alumni network, 18 in Internationalism of alumni and 21 in Student rating of alumni effectiveness.
Harvard was 9 in Opening new career opportunities , 31 in Diversity of recruiters, 24% of the graduates received a job offer within three months, 29 in Student assessment of career service, 6 in Personal development and educational experience, 57 in Faculty quality, 12 in Student quality, 14 in Student diversity, 25 in Education experience, 4 in increase in salary,
It saw an 80% increase in the pre-MBA salary. The school was 3 in Post-MBA salary, 14 in Potential to network, 82 in the breadth of the alumni network, 15 in Internationalism of alumni and 7 in Student rating of alumni effectiveness.
HEC was 14 in Open new career opportunities, 3 in Diversity of recruiters and 49% of students received a job offer within three months of graduation. It was 67 in Student assessment of career service, 25 in Personal development and educational experience, 50 in Faculty quality, 46 in Student quality, 23 in Student diversity, 34 in Education experience and 2 in a salary increase.
The Percentage increase in pre-MBA salary was 5. The post-MBA salary was 15, Potential to network 1, Breadth of alumni network 1 and Internationalism of alumni 1. Student rating of alumni effectiveness was 41.
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