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The US News 2022 MBA Rankings
The US News 2022 Business School Rankings have been released. I am shocked
(For clarity, US News publishes 2022 rankings in 2021 using the 2020 graduating class data)
I have made a number of predictions over the weekend about the rankings speculating that we will see messy data, we will see some changes, that we will see some movement and rotation of programs, we will see fewer programs ranked as ties but instead we received something completely different
Analysis of Shocking and Surprising :
(For the year over year changes, negative changes indicate climbing up the rankings while Positive changes indicate decrease in rankings)
[1] School refused to fill out the U.S. News statistical survey; 2019 admissions and 2019 graduating class salary and employment data are published.
What do you think? Did you expect more volatility? How does it compare to your expectations?
P.S. I am very thankful to the US News Team for giving GMAT Club an early preview of the US News MBA Rankings data.
The US News 2022 Business School Rankings have been released. I am shocked
(For clarity, US News publishes 2022 rankings in 2021 using the 2020 graduating class data)
I have made a number of predictions over the weekend about the rankings speculating that we will see messy data, we will see some changes, that we will see some movement and rotation of programs, we will see fewer programs ranked as ties but instead we received something completely different
Analysis of Shocking and Surprising :
- No change within the Top 20: the 2022 Top 20 is the 2021 Top 20 but slightly re-arranged. Not a single new program broke in or out. It is virtually unchanged. Four programs moved up and down (more on that below) but that's it. I am shocked. I expected to see change. I mean, I have not left my house or gotten a proper haircut in 12 months while Bitcoin is up 800% and you are trying to tell me that the top 20 has not changed? Maybe I expected too much but looks like the 2022 rankings are just like the rest of us - wearing last year's clothes and badly needing a haircut rather than a mythical substance. Is that a good thing? Am I the only one who expected more volatility?
- The pandemic impact on the 2022 rankings has been very minimal... I think the pandemic impact on the business schools has been huge on both the graduating class and the 2022 class. I doubt anyone can argue otherwise but it is really not reflected in the Rankings... How is that possible? One could argue that the reason the rankings have remained consistent is that the overall applicant trends held up for all business schools and they all have been impacted equally (a stretch of an argument and I could go with it) but here is the issue: 2 schools chose not to report their numbers: MIT Sloan and Wharton (these two programs are heavily favored by International students and I can see how they may have been disproportionately impacted by the pandemic but that's beyond the point). The point is that these 2 MBA programs were ranked using the 2019 data which is an odd approach and opens a whole separate door to discuss but that is also beyond the point). What matters is that these 2 programs have sustained their positions in 2022 rankings using the 2021 data. In other words, they fared no worse and no better this year than they did last year, ultimately indicating that the pandemic impact was either not felt or heavily buffered by the overworked admissions teams who were busy around the clock building classes and career services working hard on recruiting. Is it schools being able to buffer these impacts or are rankings unable to capture and reflect the effects of something like a Pandemic?
- Kellogg's Experiment Did not pay off. I was very curious about this. You may remember that last spring when it was clear that travel would be disrupted and enrollment was in danger, Kellogg made several changes to their R3 admissions: they have reconsidered all of the applicants they dinged, they have also dropped GMAT score requirements, and extended the deadlines (many other schools have extended their R3 deadlines by the way)
- Deferrals were a Hugely Popular option. Thanks to Regenerate who helped track down the class data - here is a shocking piece of information. Tepper was of only 2 schools who have made their defferals open to both domestic and intenational applicants (the second one being HBS). Here are the results: Tepper's class size went down 45%! Almost half the class chose to defer. That gives you an idea about the number of people who are stuck in other business school programs who were unable to have his luxury. HBS class went down by 35% - wow!
- Average Salary and Bonus went up at every school! Here is something shocking, to me at least, as many companies have asked their employees to take salary cuts or cut their hours, the incoming MBA class reported increase in salaries. Not a single program dropped in YoY metrics. Average increase was 4%
- Schools that offered deferrals reaped benefits Tepper's acceptance rate went down by 35% and HBS's by 20% while others mostly see their acceptance rate rise (Acceptance rate has an inverse relationship, the lower the acceptance rate, the more exclusive and popular the program is). For comparison, Stanford's Acceptance rate jumped 29% from 6.9% to 8.9%. You can see Tepper has moved up 3 spots in the rankings and HBS moved up 1. I predicted 2
- Some schools did really well too - surprisingly UNC managed to grow its class size by 27% while maintaining its ranking position - that is quite a feat and really amazing they have been able to pull it off. On average, class size has declined in the Top 20. Darden also grew its class size though it lost some of the ranking karma. Their average GMAT score also declined by 10 points, one of the largest declines of Top 20. (The average decline in Top 20 was 3 points)
- Top 20 employed at graduation numbers were only 3.5% down YoY. This was a very small decrease for such a historic year. I actually want to go deeper into the data and will do it tomorrow, esp in the compensation as there are ways to skew some of these numbers.
- The most surpising ranking is Anderson and Marshall. Anderson really struggled with their employment numbers in 2020. They dropped 16% YoY in terms of graduates employed at graduation and 13% down for graduates 3 months out. This is surprising since the Anderson's career center has won an award a few years ago and perhaps it is more of a local indicator, though Marshall reports only a 5% drop YoY.
| 2022 US News Rankings | |||
| 2022 Rank | School | Last Year's Rank | Change YoY |
|---|---|---|---|
| 1 | Stanford University (CA) | 1 | - |
| 2 | University of Pennsylvania (Wharton)¹ | 1 | +1 |
| 3 | University of Chicago (Booth) (IL) | 3 | - |
| 4 | Northwestern University (Kellogg) (IL) | 3 | +1 |
| 5 | Harvard University (MA) | 6 | -1 |
| 5 | Massachusetts Institute of Technology (Sloan)¹ | 5 | - |
| 7 | Columbia University (NY) | 8 | -1 |
| 7 | University of California--Berkeley (Haas) | 7 | - |
| 9 | Yale University (CT) | 9 | - |
| 10 | Dartmouth College (Tuck) (NH) | 12 | -2 |
| 10 | New York University (Stern) | 10 | - |
| 12 | Duke University (Fuqua) (NC) | 12 | - |
| 13 | University of Michigan--Ann Arbor (Ross) | 12 | +1 |
| 13 | University of Virginia (Darden) | 11 | +2 |
| 15 | Cornell University (Johnson) (NY) | 15 | - |
| 16 | Carnegie Mellon University (Tepper) (PA) | 19 | -3 |
| 16 | University of Southern California (Marshall) | 17 | -1 |
| 18 | University of California--Los Angeles (Anderson) | 16 | +2 |
| 18 | University of Texas--Austin (McCombs) | 18 | - |
| 20 | University of North Carolina--Chapel Hill (Kenan-Flagler) | 20 | - |
| 21 | Georgetown University (McDonough) (DC) | 25 | -4 |
| 22 | University of Washington (Foster) | 20 | +2 |
| 23 | Indiana University (Kelley) | 22 | +1 |
| 23 | Vanderbilt University (Owen) (TN) | 23 | - |
| 25 | Rice University (Jones) (TX) | 25 | - |
| 26 | Emory University (Goizueta) (GA) | 22 | +4 |
| 26 | University of Florida (Warrington) | 28 | -2 |
| 28 | Georgia Institute of Technology (Scheller) | 27 | +1 |
| 28 | University of Minnesota--Twin Cities (Carlson) | 28 | - |
| 30 | Arizona State University (W.P. Carey) | 35 | -5 |
| 31 | Brigham Young University (Marriott) (UT) | 30 | +1 |
| 31 | University of Texas--Dallas | 33 | -2 |
| 33 | Ohio State University (Fisher) | 37 | -4 |
| 33 | Pennsylvania State University--University Park (Smeal) | 41 | -8 |
| 33 | University of Rochester (Simon) (NY) | 35 | -2 |
| 36 | University of Notre Dame (Mendoza) (IN) | 30 | +6 |
| 36 | Washington University in St. Louis (Olin) | 30 | +6 |
| 38 | Texas A&M University--College Station (Mays) | 44 | -6 |
| 39 | Michigan State University (Broad) | 40 | -1 |
| 39 | University of Georgia (Terry) | 33 | +6 |
| 39 | University of Tennessee--Knoxville (Haslam) | 46 | -7 |
(For the year over year changes, negative changes indicate climbing up the rankings while Positive changes indicate decrease in rankings)
| Complete US News 2022 MBA Rankings Data | |||||||||
| 2022 Rank | School | Acceptance Rate | Average GMAT | 10% - 90% GMAT Range | Salary + Bonus | Employed at graduation% | After 3 months | Tuition | Total Enrollment |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Stanford University (CA) | 8.9% | 733 | - | $176083 | 62.6% | 85.3% | $74706 | 844 |
| 2 | University of Pennsylvania (Wharton)¹ | 23.1% | 722 | - | $172016 | 81% | 93.5% | $80432 | N/A |
| 3 | University of Chicago (Booth) (IL) | 27.6% | 724 | 600 - 780 | $172683 | 84.3% | 91.4% | $73440 | 1229 |
| 4 | Northwestern University (Kellogg) (IL) | 27.9% | 727 | 640 - 770 | $173057 | 80.6% | 92.5% | $74871 | 1378 |
| 5 | Harvard University (MA) | 9.2% | 727 | 620 - 790 | $171785 | 70.9% | 82.5% | $73440 | 1538 |
| 5 | Massachusetts Institute of Technology (Sloan)¹ | 14.6% | 720 | 680 - 760 | $160291 | 79.3% | 93.5% | $77168 | N/A |
| 7 | Columbia University (NY) | 13.6% | 732 | 690 - 760 | $171436 | 73.3% | 85.7% | $77376 | 1310 |
| 7 | University of California--Berkeley (Haas) | 23.3% | 727 | 690 - 760 | $162409 | 71.7% | 87.3% | $68444 | 627 |
| 9 | Yale University (CT) | 29.7% | 720 | 680 - 760 | $162856 | 75.4% | 85.9% | $72350 | 692 |
| 10 | Dartmouth College (Tuck) (NH) | 34.8% | 720 | 690 - 750 | $173882 | 81.1% | 92.3% | $77520 | 569 |
| 10 | New York University (Stern) | 29% | 723 | 690 - 760 | $175148 | 79.1% | 88.8% | $76780 | 668 |
| 12 | Duke University (Fuqua) (NC) | 24.9% | 702 | 660 - 740 | $167134 | 84.8% | 91.3% | $70000 | 798 |
| 13 | University of Michigan--Ann Arbor (Ross) | 37% | 711 | 660 - 750 | $164040 | 79.5% | 88.4% | $71048 | 758 |
| 13 | University of Virginia (Darden) | 35.1% | 703 | 660 - 750 | $169190 | 83.9% | 91.1% | $68754 | 733 |
| 15 | Cornell University (Johnson) (NY) | 39.6% | 691 | 640 - 740 | $172254 | 84.6% | 90.3% | $71940 | 571 |
| 16 | Carnegie Mellon University (Tepper) (PA) | 27.7% | 680 | 630 - 730 | $165540 | 80.9% | 86.8% | $70000 | 340 |
| 16 | University of Southern California (Marshall) | 24.3% | 707 | 680 - 740 | $156581 | 74.9% | 91% | $61500 | 435 |
| 18 | University of California--Los Angeles (Anderson) | 34.4% | 707 | 660 - 740 | $154511 | 63.7% | 78.3% | $65049 | 694 |
| 18 | University of Texas--Austin (McCombs) | 36.9% | 704 | 670 - 740 | $154211 | 77.2% | 85.6% | $56572 | 491 |
| 20 | University of North Carolina--Chapel Hill (Kenan-Flagler) | 52.5% | 694 | 650 - 740 | $151873 | 74.4% | 85.4% | $63174 | 593 |
| 21 | Georgetown University (McDonough) (DC) | 56.9% | 691 | $155540 | 73% | 89.8% | $57850 | 509 | |
| 22 | University of Washington (Foster) | 41.3% | 692 | $151683 | 80.8% | 94.2% | $52452 | 227 | |
| 23 | Indiana University (Kelley) | 42.7% | 652 | $142424 | 75.8% | 85.7% | $51454 | 225 | |
| 23 | Vanderbilt University (Owen) (TN) | 46.3% | 676 | $148911 | 74.5% | 90.4% | $60750 | 329 | |
| 25 | Rice University (Jones) (TX) | 39.5% | 690 | $148422 | 75.7% | 88.8% | $60940 | 281 | |
| 26 | Emory University (Goizueta) (GA) | 46.1% | 675 | $151922 | 76.5% | 89.9% | $67100 | 286 | |
| 26 | University of Florida (Warrington) | 26.6% | 686 | $129227 | 76.6% | 90.6% | $30130 | 90 | |
| 28 | Georgia Institute of Technology (Scheller) | 37.3% | 666 | $141847 | 76.7% | 90.4% | $40752 | 157 | |
| 28 | University of Minnesota--Twin Cities (Carlson) | 53.8% | 659 | $135503 | 76.9% | 87.9% | $51456 | 139 | |
| 30 | Arizona State University (W.P. Carey) | 22.2% | 671 | $124600 | 63.2% | 86.8% | $48400 | 131 | |
| 31 | Brigham Young University (Marriott) (UT) | 42.9% | 668 | $125522 | 71.9% | 89.3% | $N/A | 256 | |
| 31 | University of Texas--Dallas | 40.9% | 681 | $111168 | 63.3% | 90% | $29166 | 105 | |
| 33 | Ohio State University (Fisher) | 40% | 666 | $132022 | 70.7% | 84.1% | $53708 | 134 | |
| 33 | Pennsylvania State University--University Park (Smeal) | 20.1% | 642 | $133919 | 76.5% | 86.3% | $43296 | 107 | |
| 33 | University of Rochester (Simon) (NY) | 24.5% | 670 | $143349 | 74.1% | 90.6% | $48000 | 232 | |
| 36 | University of Notre Dame (Mendoza) (IN) | 49% | 651 | $131104 | 62.9% | 78.1% | $58030 | 275 | |
| 36 | Washington University in St. Louis (Olin) | 47% | 687 | $132261 | 61.1% | 72.6% | $64250 | 197 | |
| 38 | Texas A&M University--College Station (Mays) | 42.3% | 621 | $131541 | 77.6% | 89.8% | $$87,323** | 143 | |
| 39 | Michigan State University (Broad) | 47% | 649 | $128615 | 72.3% | 81.5% | $52458 | 143 | |
| 39 | University of Georgia (Terry) | 37.4% | 672 | $126438 | 72.2% | 80.6% | $32606 | 112 | |
| 39 | University of Tennessee--Knoxville (Haslam) | 43.7% | 668 | $103788 | 79.3% | 89.7% | $29656 | 99 |
[1] School refused to fill out the U.S. News statistical survey; 2019 admissions and 2019 graduating class salary and employment data are published.
What do you think? Did you expect more volatility? How does it compare to your expectations?
P.S. I am very thankful to the US News Team for giving GMAT Club an early preview of the US News MBA Rankings data.
fall2021
Current Student
Joined: 08 Apr 2018
Last visit: 25 Feb 2022
Posts: 233
Own Kudos:
Given Kudos: 89
Location: India
Concentration: Marketing, Strategy
Schools: Ross '23 (WL) CBS '23 (D) McDonough'23 (M$) Marshall'23 (A) Darden '23 (D) Stern '23 (WL) Booth '23 (D) Kellogg 1Year '22 (WL) Yale '23 (D) LBS '23 (D) Sloan Fellows '22 (D) Foster '23 (D)
GMAT 1: 750 Q50 V40 (Online)
GMAT 2: 760 Q50 V42
GPA: 3.2
WE:Marketing (Telecommunications)
Schools: Ross '23 (WL) CBS '23 (D) McDonough'23 (M$) Marshall'23 (A) Darden '23 (D) Stern '23 (WL) Booth '23 (D) Kellogg 1Year '22 (WL) Yale '23 (D) LBS '23 (D) Sloan Fellows '22 (D) Foster '23 (D)
GMAT 2: 760 Q50 V42
Posts: 233
Kudos:
244
30 Mar 2021, 00:15
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Hi bb, thanks for sharing this detailed information. Any chance you could include Top 25 schools instead of 20? Would be interesting to see stats of Georgetown, Foster, Kelley, Jones, Owen.
30 Mar 2021, 00:25
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Bookmarks
Thanks so much for sharing the official ranking and your personal insights; I greatly appreciate the analysis. As expected, US News ranking never fails to surprise people. Respectfully, I am a strong believer of the fact that any business school ranking that does not place Harvard at the #1 spot somehow dents its own credibility.
