{"id":34848,"date":"2016-10-27T11:42:59","date_gmt":"2016-10-27T18:42:59","guid":{"rendered":"https:\/\/gmatclub.com\/blog\/?p=34848"},"modified":"2023-10-25T08:19:23","modified_gmt":"2023-10-25T15:19:23","slug":"the-economist-2016-full-time-mba-rankings","status":"publish","type":"post","link":"https:\/\/gmatclub.com\/blog\/the-economist-2016-full-time-mba-rankings\/","title":{"rendered":"The Economist 2016 Full-Time MBA Rankings"},"content":{"rendered":"

\"See<\/a><\/p>\n

The Economist <\/em>has released its annual international ranking of full-time MBA programs<\/a>. Data was collected during spring 2016. Two surveys were used: 1) The first was completed by schools with eligible programs which covered quantitative subjects and accounted for 80% of the ranking. 2) Current MBA students and a school\u2019s most recent graduating MBA class completed a second qualitative survey which accounted for the remaining 20% of the rank.<\/p>\n

The factors included:<\/p>\n

\u2022 Percentage of graduates receiving a job offer within three months of graduation
\n\u2022 Student assessment of their program\u2019s career services
\n\u2022 Quality of faculty
\n\u2022 Diversity of students
\n\u2022 Overall educational experience
\n\u2022 Post-MBA salary
\n\u2022 Percentage increase between pre- and post-MBA salary
\n\u2022 Breadth of alumni network<\/p>\n

A total of 100 schools were ranked by The Economist. <\/em>Seven of the top 10 (ranked 1-7) were schools in the United States. Here are the top 10 ranked schools:<\/p>\n

\"See<\/a>My Thoughts:<\/strong><\/p>\n

I find The<\/em> Economist<\/em> ranking to be useful in so far as it highlights the flaws in rankings better than most. The rankings as indications of educational quality \u2013 their supposed purpose \u2013 are really only useful if your criteria for choosing programs match exactly the criteria of the particular medium presenting the rankings. Since published rankings almost never match an individual applicant\u2019s criteria, or at least a thoughtful applicant\u2019s criteria, their value is questionable. Their popularity and ability to attract eyeballs, online and off, is undeniable.<\/p>\n

Regarding the specific failings of The Economist <\/em>rankings, John Byrne of Poets and Quants <\/em>wrote an in-depth critique<\/a>. I\u2019m not going to repeat it, but here are a few of the more significant points, some from me and some from P&Q.<\/p>\n

1.<\/strong> The criteria are a potpourri of 21 metrics including the student satisfaction survey (20%). Again unless your criteria match The Economist\u2019s<\/em> methodology and weighting of those factors, it doesn\u2019t do you a lot of good. And of course surveys are intrinsically subjective and prone to gaming.<\/p>\n

2.<\/strong> The Economist<\/em> doesn\u2019t let you see the differences among the school or the breakdown of the different criteria. The lack of transparency contributes to the lack of usefulness. You can\u2019t even select your own criteria and you can\u2019t see whether two schools are smidgens or galaxies apart.<\/p>\n

3.<\/strong> The volatility of the index calls into question its validity and indicates a certain arbitrariness in the criteria. Schools change slowly, but there were several roller-coaster-like changes in rankings, for example ESADE dropped 33 places, Florida Hough climbed 21 places, and SMU Cox climbed 16. Stanford<\/a> is up by 8 to #5, which means that last year it was 13. Huh?<\/p>\n

4.<\/strong> Some of the better and worse schools don\u2019t make a lot of sense. For example, the University of Queensland in Australia is #10, ahead of Columbia<\/a> (#11), Wharton<\/a> (#12), INSEAD<\/a> (#13), Yale<\/a> (#15), MIT Sloan<\/a> (#17), and London Business School<\/a> (#25). While such people may exist, in my 20+ years as an MBA admissions consultant I have never had a client prefer Queensland over the other programs that it allegedly bests.<\/p>\n

To The Economist\u2019s<\/em> credit, its methodology includes the following warning:<\/p>\n

Results of rankings can be volatile, so they should be treated with caution. The various media rankings of MBA programmes all employ a different methodology. None are definitive, so our advice to prospective students is to understand the ethos behind each one before deciding whether what it is measuring is important for you.<\/em><\/p>\n

I couldn\u2019t agree more.<\/p>\n

Are you using the rankings correctly? Click here to find\u00a0out<\/a>.<\/strong><\/p>\n

\"\"<\/a><\/p>\n

\"Linda<\/a>By\u00a0Linda Abraham<\/a>, president and founder of Accepted and co-author of the definitive book on MBA admissions,\u00a0<\/em>MBA Admission for Smarties: The No-Nonsense Guide to Acceptance at Top Business Schools<\/a>.<\/a><\/em><\/p>\n

 <\/p>\n

Related Resources:<\/strong><\/p>\n

\u2022\u00a0GMAC Releases Tool That Organizes, Compares & Explains Major Rankings<\/a>
\n\u2022\u00a0Busting Two MBA Myths<\/a>
\n\u2022\u00a0U.S. News<\/em> Ranks Best Business Schools in 2016<\/a><\/p>\n

This article<\/a> originally appeared on\u00a0<\/em>blog.accepted.com<\/a>.<\/em><\/p>\n

Applying to a top b-school? The talented folks at Accepted have helped hundreds of applicants get accepted to their dream programs. Whether you are figuring out where apply, writing your application essays, or prepping for your interviews, we are just a call (or click) away.<\/p>\n

Contact us, and get matched up with the consultant who will help\u00a0you\u00a0<\/em>get accepted<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

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