asimov
Someone on the forum once said "rankings matter very little once you are in business school." I think it's pretty true. Once you are in business school, the thing that matters the most is recruiting. And companies won't change their recruiting policies just because fluctuations in rankings. One thing companies appear to look for in selecting core schools is cultural fit of the school and company, as well as the performance of past alums at the company. I know Fuqua has made the core school list for several companies this year (and losing one).
When you guys choose schools this year, I would recommend to chose based on fit and industry/function recruitment rather than on relative ranking.
So well said, asimov. I couldn't agree more. In particular, I would point out two schools that I completely reevaluated as I went from reading rankings to more real world research: Fuqua and Haas. Both of these places hover near the bottom of the top ten in most rankings, but sometimes they really get ranked below some truly inferior programs.
Why does this happen? I can point to some great poetsandquants.com stuff that explains the methodology problems in all of the rankings, but who really cares? What you should do instead is get to know some of the students and alumni. Then talk to some hiring managers in your sector and your region. And then, if you still want, start to dig into the details of the numbers, instead of some crude roll-ups put out by magazines.
When I did these things, I realized that my perception of these two schools as decent but unexceptional regional programs was plain wrong. Haas is mathematically the second hardest school in the country to get into (after Stanford), and Fuqua's recruiting performance, particularly in healthcare is stunning. Moreover, their students, present and past, are impressive, mature, and successful people. When I met people at and from these schools, I never walked away thinking, "Oh, he must have gotten dinged at Yale SOM." Actually sitting down and talking with the people at these schools (as well as the people who hire them when they graduate) will really open your eyes if you've been spending too much time looking at the rankings. I know it did for me.