Such rankings allow schools that don’t always make it to the top 10 for overall marks to finally see what it feels like to be on top regarding specific impressive elements of their program.

Top 10 U.S. MBA Programs – Accounting

1. Chicago Booth

1. Texas-Austin McCombs

3. Rochester Simon

3. Boston College Carroll

5. U. of Washington Foster

5. Vanderbilt Owen

5. Babson Olin

5. Arizona State Carey

9. Harvard Business School

10. Wharton

Top 10 U.S. MBA Programs – Finance

1. Wharton

2. Chicago Booth

3. Columbia

4. Northeastern

5. Boston College Carroll

5. Case Western Weatherhead

7. Harvard Business School

8. Minnesota Carlson

8. Wisconsin-Madison

8. George Washington

Top 10 U.S. MBA Programs – Most Innovative Curriculums

1. Stanford

2. Chicago Booth

3. Indiana Kelley

4. Yale

4. USC Marshall

4. Texas A&M Mays

4. Tulane Freeman

8. Boston University

8. Rochester Simon

8. George Washington

Top 10 U.S. MBA Programs – Most Improved

1. Georgia Tech

1. Boston University

1. Northeastern

4. Indiana Kelley

5. Wake Forest

5. Arizona State Carey

7. Dartmouth Tuck

7. Brigham Young Marriott

7. Texas A&M Mays

7. Pittsburgh Katz

For rankings based on global competition, general management, communication skills, teamwork, or operations, as well as for an analysis on how the rankings were determined, please see the BW article. There is also a section there on global MBA programs ranked by specialty.

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“The economy may not have come out of the downturn entirely,” says Rebecca Joffrey, Director of Career Education at Dartmouth Tuck, “But MBA talent is very much in demand; I think it’s because companies realize that they have to grow their way out of the recession and MBA grads can really effectively help them do that.”

Companies are ready to fill the employment gaps that they could not afford to fill in the last few years, Joffrey explains. The work is still there.

Joffrey continues to explain that corporate recruiters have had to shift their priorities because of the recession. A “global mindset” has become a more valued attribute, as has “commercial instinct.”

Companies are changing the way they recruit (for many this means cutting back) in response to the recession, and schools must work to accommodate such changes. Joffrey describes the steps Tuck took in the last year to help graduates find jobs, including maintaining corporate relationships, encouraging alumni to interact with current students (assisting them in networking and the job search), and partnering with other schools to set up interview forums.

Current students and graduates must also shift their priorities in accordance with the changing economic landscape. Joffrey encourages her students to be open-minded about job opportunities—both in job scope and in location. “Don’t just assume that the opportunities ahead are the same ones that were there before,” she advises. “The playing field for the MBA degree is going to be very international in character in the times to come and students must be well-prepared.”

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To review the entire dicussion, please read the full transcript or download the MP3.

Here is an excerpt from the Q&A that we found particularly illuminating:

Linda Abraham: The next question is, “How important is it that I rank my schools on the Consortium application?”

Karen Marks DARTMOUTH: It makes no difference; it’s not a factor in admissions decisions. It comes into play during the fellowship component, but in terms of your admissions decision, it doesn’t play in at all.

Jon Fuller MICHIGAN: When the Admissions Committee gets an application, the rank list is electronically blacked out, and that is not actually released until we’ve already made our admissions decisions. That is just our own internal process for that. So just as it was mentioned, the ranking plays no factor in admissions decision or in membership; it really only comes up from a fellowship perspective.

Shana Basnight EMORY: I would just advise that you do your due diligence before you lock in your ratings because once you do, they are set in stone and you can’t change them. So whether you get a chance to visit different campuses or talk to different alums that have attended different schools, do as much research as you can before you completely drop the Consortium application and put in your rankings because you only have one chance to do them.

Jon Fuller MICHIGAN: I think candidates spend some time thinking about whether there is a way to increase the likelihood of them getting a fellowship by how they rank a school, and there is  a lot of agony that goes into that. The advice I give to candidates is that if Ross is your first choice, then you should rank us first. If another school is your first choice and we’re your second choice, then you should put us second and you should put that other school first. Because just as it was mentioned, it’s an individual decision based on the school; it just goes down the rank order of the process that is explained relatively well through the

Consortium documentation that is available on their website. But don’t try to over-think because it just doesn’t work. So rank the order in terms of your enthusiasm of how much you want to attend that particular program.

Rebecca Dockery CONSORTIUM: I’m going to give you an Amen!

Jon Fuller MICHIGAN: Thank you!

Kellee Scott USC: Just to add a little more relief hopefully to this effort with the rankings, the process is that you are only allowed to hold one fellowship that you can call Consortium, but that doesn’t stop other schools from offering you school based scholarships if you qualify for them. So the rankings may say that you are only allowed to get one scholarship that is called Consortium, but if school #3 and #4 really want you, that doesn’t stop them from offering you aid outside of the Consortium scholarship, or offering you any kind of merit based money outside of the Consortium scholarship. So you are not limited in this process; the rankings do not limit you in any way.

View the full Q&A transcript or listen to the mp3 recording of the event now!

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Top 30 U.S. Business Schools of 2010 (2008 rankings are parenthetical.)

1. Chicago Booth (1)
2. Harvard Business School (2)
3. Wharton (4)
4. Northwestern Kellogg (3)
5. Stanford GSB (6)
6. Duke Fuqua (8)
7. Michigan Ross (5)
8. UC Berkeley Haas (10)
9. Columbia (7)
10. MIT Sloan (9)
11. UVA Darden (16)
12. Southern Methodist Cox (18)
13. Cornell Johnson (11)
14. Dartmouth Tuck (12)
15. CMU Tepper (19)
16. UNC Kenan-Flagler (17)
17. UCLA Anderson (14)
18. NYU Stern (13)
19. Indiana Kelley (15)
20. Michigan State Broad (2T)
21. Yale SOM (24)
22. Emory Goizueta (23)
23. Georgia Tech (29)
24. Notre Dame Mendoza (20)
25. Texas-Austin McCombs (21)
26. USC Marshall (25)
27. Brigham Young Marriott (22)
28. Minnesota Carlson (2T)
29. Rice Jones (NR)
30. Texas A&M Mays (NR)

Top International Business Schools

1. INSEAD (3)
2. Queen’s (1)
3. IE Business School (2)
4. ESADE (6)
5. London Business School (5)
6. Western Ontario Ivey (4)
7. IMD (7)
8. Toronto Rotman (8)
9. York Schulich (2T)
10. Cambridge Judge (2T)
11. McGill Desautels (2T)
12. IESE (9)
13. Cranfield (NR)
14. HEC Paris (2T)
15. HEC Montreal (HR)
16. Oxford Said (10)
17. Manchester (2T)
18. SDA Bocconi (NR)

BW bases its rankings on employer and student surveys, as well as what they call “intellectual capital,” or school research output. For more information on how the rankings are determined, read BW‘s “How We Rank Business Schools.”

Other articles in the report that may interest you include:

• “The Best U.S. Business Schools 2010” – This article highlights ways that business schools are dealing with the sour job market—putting a new emphasis on job placement, reaching out to alumni for job leads, using technology to connect with recruiters, and bolstering career services departments.
• “Top Global Business Schools” – Read about how the Great Recession has affected the international MBA scene, why new schools have popped up on the top 10, why students are being drawn to emerging markets, and more.

Related Accepted.com Resources:

• The Rankings, a free special report on how you should interpret the rankings in your own b-school quest.
• Internationalizing the MBA, a free special report that will help you determine whether an international MBA program is right for you.

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According to a U.S. News article, professors from Dartmouth’s Tuck School of Business and its Institute for Health Policy and Clinical Practice will be joining forces to teach in Dartmouth’s new online M.A. program. The 18-month program, which is geared towards mid-career healthcare leaders, will award graduates of the program with a Master of Health Care Delivery Science Degree.

Unlike most other online programs that are designed to help students save money, Dartmouth’s new program will cost a whopping $85,000. Working professionals will be able to keep their jobs, as only six weeks are required on campus; the rest of the classes will be conducted online.

Another difference from mainstream online programs? Dartmouth doesn’t plan to use the program to reach a multitude of students. The first session will be limited to 50 students; the tone of the program—intense and intimate.

“This is our first significant foray into distance education,” says Tuck’s Dean Paul Danos. “This program gets us into a distance mode and we’re creating [online] platforms.” But, adds Danos, this is not the “type of distance learning where they need thousands of people. This is very personal—lots of hand-holding and lots of personal attention.”

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This Dartmouth Tuck 2011 MBA Application tip post is one of a series of posts providing MBA application and essay advice for applicants to top MBA programs around the world. You can access the entire series at http://blog.accepted.com/acceptedcom_blog/tag/2011-mba-application-tips. My tips for answering Tuck’s essay questions are in blue below.

Please respond fully but concisely to the following essay questions. Compose each of your answers offline in separate document files and upload them individually in the appropriate spaces below. Although there is no restriction on the length of your response, most applicants use, on average, 500 words for each essay. There are no right or wrong answers. Please double-space your responses.

1. Why is an MBA a critical next step toward your short- and long-term career goals? Why is Tuck the best MBA program for you? (If you are applying for a joint or dual degree, please explain how the additional degree will contribute to those goals.)

Note that the MBA is a “step” towards a goal. That means you have to briefly discuss the path you have been on and then your reasons for wanting an MBA — and specifically a Tuck MBA–  to continue down that path. You have to know a lot about Tuck as well as your goals to respond effectively to this question.  Why do you want a program that stresses the integration of business functions? Why do you want a small, tight-knit program? Which of Tuck’s strengths appeal to you? How will they help you achieve your goals?

2. Discuss your most meaningful leadership experience. What did you learn about your own individual strengths and weaknesses through this experience?

This question reflects the importance Tuck, like many MBA programs, places on leadership.

Have you inspired a troubled teen to apply himself academically? Have you chaired  a fund raiser that raised a record amount of money? Have you captained a sports team that led your intra-mural or company league? Have you been a team lead on a project that came in early and under budget? Are you head of a sales team? These could all be examples of leadership. How did you inspire your teammates to achieve? What did you learn from the experience.

The question asks you to reveal strengths and weaknesses. The first is fun and should be relatively easy. However we all cringe at the idea of revealing weaknesses, especially in a situation where you want to impress — like an MBA application. Nonetheless, resist that nasty impulse. Don’t reveal a phony weakness. The adcom will see right through it. Reveal a weakness that hopefully you can show yourself addressing in this leadership experience or through another later experience. Don’t dwell on the weakness, but do include it.

3. What is the greatest challenge or hurdle you have overcome, either personally or professionally, and how did you manage to do so?

This question asks for one challenge or hurdle and how you have overcome it. Tuck doesn’t care if your challenge is personal or professional, but it is asking for your “greatest challenge.”  Show resilience, maturity, self-discipline and personal strength in revealing how you have overcome whatever you have faced.

4. Tuck seeks candidates of various backgrounds who can bring new perspectives to our community. How will your unique personal history, values, and/or life experiences contribute to the culture at Tuck?

Tuck may be small and rural, but it is no backwater. And it is fiercely proud of its diversity — in all senses of the word.  It also wants people who will contribute to the school. When I visited Tuck for the International Educational Consultants Conference, I was struck by the variety of events within Tuck and the larger Dartmouth community. Clearly, to answer this question well you must reflect on your background, but you also need to study the activities, clubs, and programs available at Tuck.  What are the distinctive elements of your background? How will it enable you to contribute at Tuck?

5. (Optional) Please provide any additional insight or information that you have not addressed elsewhere that may be helpful in reviewing your application (e.g., unusual choice of evaluators, weaknesses in academic performance, unexplained job gaps or changes, etc.). Complete this question only if you feel your candidacy is not fully represented by this application.

It is almost impossible for four 500-word essays plus a bunch of boxes, a transcript, and a GMAT score to represent fully the uniqueness and talents of a truly impressive candidate. That comment has nothing to do with writing style and everything to do with the complexity of accomplished human beings. In my opinion this “optional essay“  is optional in name only.

6. (To be completed by all reapplicants) How have you strengthened your candidacy since you last applied? Please reflect on how you have grown personally and professionally.

Straightforward. What has changed that would compel Tuck to admit you this year when it rejected you last year?

For information on how Accepted.com can help you with your Tuck application, please see the Tuck Editing and Advising Package or our MBA Admissions Editing and Consulting.

Dartmouth Tuck 2011 MBA Deadlines

Applications are due by 5:00 PM EST

* Confidential Statements of Qualifications

** Applicants who wish to be considered for scholarships must complete the Application for Tuck School of Business Scholarships by the above deadline

*** Free Application for Federal Student Aid

****Prospective students who are applying to Tuck through the Consortium will receive two decisions; one from Tuck regarding their admission decision and a second from the Consortium regarding their fellowship decision.

By Linda Abraham, President and Founder of Accepted.com.

• Many b-school students will be returning to class this fall without having had the rosy summer internship experience they had expected—that is, if they were lucky enough to land an internship at all. The main cause for disappointment: Fewer internships are turning into full-time job offers. “The number of offers at the end of the summer is shrinking, because companies don’t know their hiring needs, and so they’re very conservative,” says Kellogg assistant dean and director of career management, Roxanne Hori. The recent Businessweek article that covers this topic (“Salvaging an MBA Internship Gone Bad“) suggests that if you haven’t been offered a job by August, you shouldn’t despair—at least not yet. There are ways to persuade an internship employer to turn your summer stint into the real deal. Some tips from the article: Plan a mid-summer meeting with your employer. Discuss how you will contribute to the company long term. And if your employer still doesn’t bite, continue working hard until the end of the summer, and exit with dignity, making sure that you’re networking and job searching at the same time.

• Another recent Businessweek article compares private and public university spending per student for teaching, concluding that private universities spend twice as much as public ones. In the academic year 2007-2008, private colleges lay out teaching costs, on average, of $19,520 per student, while their public counterparts spent $9,732 per student. Both rates are up significantly in the last ten years—private costs by 22% and public by 10%.

• Yet another salary survey has been released by the Businessweek blog Getting In (“Salaries Strong for Recent Business Grads“). This one reports an increase in the number of jobs that corporate employers plan to offer undergraduate and graduate business grads, particularly to those coming out of summer internships. Looks like the author of our internship article (above) didn’t see this survey finding (conducted by Compensation Resources, Inc.): “This year, nearly 90 percent of corporate respondents plan to offer interns full-time jobs compared to only 60 percent in 2008.”

• Tuck alumni show appreciation to the Dartmouth business school by hitting a world record in its alumni giving participation rate. 66.7% of Tuck alumni participated in the recent Tuck Annual Giving campaign, surpassing other top b-schools by a landslide. The Tuck alumni giving rate has been above 60% consistently for the last 25 years. No other top b-school has ever even come close to that rate—this year, the next highest participation rate was at 42% and the average of the other nine schools on the top ten list was at a mere 20%. (Source: July 2010 Tuck Tip Sheet)

• Seeking more job optimism? The New York Times reports that hiring is on the rise, on Wall Street and elsewhere. A professor at Columbia calls the stock exchange “very resilient.” Everything has its ups and downs–look at hiring stats for companies like JPMorgan or Goldman Sachs, and you’ll see that the economy is about to experience an up. See the New York Times’ “Wall St. Hiring in Anticipation of an Economic Recovery” for more details.

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Several impressions and take-aways for applicants from the different events and sessions:

MIT Sloan Panels:

From the MIT panels it is clear that MIT is looking for demonstrated success academically and professionally.  The latter translates into success or professional progression that is better than the norm for your peers. In terms of those fuzzy attributes and personal characteristics that schools talk about, Sloan wants to see drive; an ability to build relationships and influence others;  and the establishment, pursuit and achievement of goals.  A few details about the individual programs:

1. 100% of the MFin grads have jobs this year, this program’s inaugural graduating class.
2. The EMBA is a program for those in mid-management with a demonstrated record of success who either want to advance in their career or make a slight career change without leaving their job.  Neither sponsorship nor the GMAT is required. (the latter may be requested if MIT has questions about the applicant’s quant skills.)
3. The LGO program focuses on managing the global production and distribution of goods and services. It is a joint, quant-heavy 24-month program between MIT Sloan and MIT’s School of Engineering. Participants earn both an MBA and an MS in Engineering.

We also heard two presentations by MIT Sloan professors. If you have any doubt that MIT Sloan is serious about innovation and global reach, abandon them. The creativity and global impact evident in just these two hours would force you to reshape your views.

Impressions from Conference Day 2 (Multiple presentations by various schools reps)

• Schools and admissions committee members look at different elements when they evaluate an application.  Pay attention to the nuances.
• Your informal and personally identifiable interactions with school admissions personnel are highly revealing. They COUNT! Arrogance at any point in time is a death knell for your application (and most relationships too.) Rudeness to a receptionist is a ding. What qualities impress positively? In your essays and interviews, reveal dignity, generosity of spirit, self-awareness, authenticity, and consideration of others. These qualities cannot be faked or “spun.”
• Regarding financial aid, merit aid tends to go to the top X% based on academic stats. Generally, when evaluating fellowship essays, the readers do not refer to your application essays. Poor credit can prevent you from obtaining the loans necessary for you to attend the school of your dreams if merit aid and your resources don’t cover the tab; get your credit in order before you apply.
• Regarding career development, the MBA employment picture improved throughout 2009-10. Read the employment reports for schools before you decide to apply and certainly before you decide to attend; you need to know school strengths as revealed in these reports. Understand the role of the career services staff (educating students about effective career planning and job search) and the limitations of that role. (They don’t create or find jobs for you.) Networking, which is about building relationships not the size of your contact list, is more important than ever. In order to build relationships, you must move beyond email.

Harvard Business School

At Harvard, we enjoyed an interactive two-hour presentation that was stimulating and engaging. To the extent it reflected the dynamism of the Harvard educational experience, I was extremely impressed.

This visit clarified for me that Harvard’s unparalleled brand is not just a matter of US News Rankings or smoke-and-mirrors branding.  At the same time, HBS is not for everyone, but like any top graduate program, it can be a fantastic experience for the right individuals.

Before the conference started my husband and I met with an acquaintance who is a professor at HBS. The professor was curious about my work, and I was curious about his. He asked me what I believe distinguishes Harvard students from the rest of the applicant pool. I thought for a moment and replied, “Leadership and impact.” He smiled, and the conversation moved on. Just before leaving, I asked him, “From your perspective as an HBS professor, what is a common quality shared by HBS students?” He replied, “I smiled when you answered my question because the students come from incredibly diverse backgrounds. However, if I have to identify a common thread, it would be leadership and impact.” If you are serious about attending Harvard Business School, make sure you demonstrate leadership and impact.

Reflections and Thank yous

It is our job as admissions consultants to help you choose the best target programs and show that you  belong at your chosen schools. The candor and graciousness shown by the hosting schools as well as by the presenting admissions directors will help Accepted’s staff do exactly that.

I am proud to report that Accepted’s staff was well represented at  the conference. In addition to myself, Jennifer Bloom, Paul Bodine, Judy Gruen, Tanis Kmetyk, Cindy Tokumitsu, and Robbie Walker attended.

Profound thanks to the hosts and presenters as well as to AIGAC, led by Graham Richmond of Clear Admit, and specifically to Maxx Duffy of Maxx Associates and Anna Ivey of Ivey Consulting who co-chaired the event. Thanks also to the sponsors: Veritas Prep, Clear Admit, Hult International Business School, Manhattan GMAT, MBA Podcaster, and Zoom Interviews

Learn More: Best MBA Programs: A Guide to Choosing the One for You.

By Linda Abraham, President and Founder of Accepted.com.

Robert Dammon, CMU Tepper associate dean and professor, explains the price-wage connection: “The kinds of students that the best schools attract are going to get the highest-paying jobs.”

Paul R. Dorf, managing director of the consulting firm, Compensation Resources, adds, “The cream-of-the-crop companies hire the cream-of-the-crop grads.”

Top-ranked b-schools generally offer the most expensive programs and generally churn out the highest paid graduates. Harvard Business School, for example, has the most expensive MBA program, and the best paid alumni.

PayScale, a salary-comparison company, recently evaluated salary data of 23,000 MBA graduates from Bloomberg Businessweek‘s top 45 American business schools.

Their data shows that on average, MBAs from top programs make $2.5 million (base-pay plus bonuses) over the course of 20 years in a single industry. HBS alumni make closer to $4 million, while alumni from lower ranked programs (but still in the top 45) like Iowa Tippie, make less than half of that.

Another interesting comparison between the higher ranked and lower ranked programs was the growth of salary over the two-decade period. Graduates from Yale SOM, for example, were awarded with extremely high starting salaries, but then experienced only small increases over the following 20 years. Grads from University of Connecticut’s business school, on the other hand, received lower starting salaries that more than doubled over that same 20-year period.

Below are the top median salaries earned after less than 2 years out of b-school and then the estimated career total for a 20-year long career:

Related Accepted.com Resources:

• B-School Zones
• The Rankings: An Accepted.com Special Report
• Forbes ROI MBA Rankings for 2010
• BusinessWeek’s Top 10 Undergraduate Business Schools with the Best Returns on Investment

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The option to take the GRE instead of the GMAT exam is a somewhat recent development. What began as a trend (started by Stanford GSB) among a few schools has exploded into an almost-standard option available at 27% of the U.S. News‘ 433 b-schools on the Best Business School rankings report. More than 300 b-schools total accept the GRE as a GMAT alternative (including those not included in the U.S. News rankings).

This expanded option allows b-schools to widen their applicant pool, attracting potential MBAs from other GRE-required graduate paths.

US News ranked b-schools that now accept the GRE include:

1. (tie) Harvard Business School and Stanford Graduate School of Business
3. Massachusetts Institute of Technology (Sloan)
7. Dartmouth College (Tuck)
9. New York University (Stern)
11. Yale University
13. University of Virginia (Darden)
14. Duke University (Fuqua)
16. University of Texas—Austin (McCombs)
19. Washington University in St. Louis (Olin)

According to David Payne, VP and COO at ETS, accepting the GRE is a smart move, specifically from a business perspective. “At no cost to the schools,” he says, “it allows them to increase the size and diversity of their applicant pool.” More than 600,000 people take the GRE every year, while only 270,000 take the GMAT.

Both tests have experienced an increase in the number of test takers every year for the last six years.

Advantages to test-takers of the move of b-schools to accept the GRE include:

• The GRE costs about $110 less than the GMAT.
• Students who wish to apply to both b-school and another graduate or PhD program can do so easily (and affordably) by taking only one test.
• Those with weaker quant skills will have an easier time navigating the GRE’s math section than that of the GMAT.

Related Accepted.com Blog Posts:

• More B-Schools Accepting GRE in Lieu of GMAT
• GMAT or GRE: Which is Best for You?
• Record GMAT Registration Volume in 2009
• GMAT Advice

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