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 : 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 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.

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US News 2022 MBA Rankings: The Shock and Awe Edition

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31 Mar 2021, 15:27

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yeltoukhy

Thank you so much for the data.
Can you add the GMAT score ranges for the top university ?

I do not have it handy in the Spreadsheet the US News has shared but I can see if I can get it from school's sites.
Thx.
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31 Mar 2021, 17:51

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JohnGalt1

Hey guys, so is this rating the we should all follow? as there are lot of websites providing different ranking, most famous is https://www.topuniversities.com/univers ... kings/2021. I see that this ranking is for US only, but is it legit? E.x. Boston Questrom university here is on 50th place in US whereas according web-site I provided its on 30th in world. So, I am bit confused, could you please advise me which web-site is best to track university rankings?

Don't go with the rankings.
Usually schools in top 50 (usnews) are all good ones.

But apply with your goals!

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01 Apr 2021, 01:22

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yeltoukhy

Thank you so much for the data.
Can you add the GMAT score ranges for the top university ?

I have added the 10%-90% GMAT Range by going to the websites of the Top 20 schools. That took my evening

Unfortunately, I could not find anything for Wharton or Stanford about their GMAT range but everyone else has that information published.

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04 Apr 2021, 15:25

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Can anyone share the excel spreadsheet? I am working on a project.

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26 Oct 2022, 08:11

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hi bb,
Do you have ranking for Finance concentration (esp. Investment) - MBA Program in US?

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26 Oct 2022, 11:24

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Duongsun

hi bb,
Do you have ranking for Finance concentration (esp. Investment) - MBA Program in US?

I would not worry too much about the Finance rankings per se as the main thing but it is helpful to know which programs are better off than others with Finance focus.
As you will see from this Screenshot from US News - for Finance, it is Top 10 just in a different order

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Finance-rankings.png [ 2.36 MiB | Viewed 1440 times ]

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26 Oct 2022, 17:09

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hi bb,
Could you snapshot US News - for Finance from Top 1 to Top 50 for me? I do not have premium account to see full list.

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26 Oct 2022, 18:22

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The specialized rankings usually do not go up to 50. Usually they just go to 20 or 30. The Finance actually goes up to 35 and as you can see it gets pretty weird pretty quick. Most of these programs I have not heard about and that is because these industry rankings are weighted pretty differently so it allows for some of the less mainstream schools to suddenly get ahead... So in my shortsighted choice, I probably would not pick Albers instead of Simon, Tuck, or Johnson.

19. Dolan (Fairfield)
20. Albers (Seattle U)
21 Heider (Creighton U)
21. Leavey (Santa Clara)
23. Johnson (Cornell)

23. Simon (Rochester)
25. Tuck

25. Haub (St. Joseph)
27. McDonough (Georgetown)
27. Kelley (Indiana U)
27. Warrington (U of Florida)
27. Urbana Champaign
27. Kenan Flagler UNC
27. Foster UW
34. Wehle (Canisius College)
34. Jindal (UT Dallas)
34. Mercy
34. U of SF
34. U of Scranton Go Michael Scott!
34. Olin
34. Williams (Xavier)

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26 Oct 2022, 19:50

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bb, thank you indeed, this list means a lot to me. Have a nice day, bro

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26 Oct 2022, 19:55

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Duongsun

bb, thank you indeed, this list means a lot to me. Have a nice day, bro

Sure! Good luck with your application plans. I would use these more of a pointer for schools to research rather than absolute truth when you try to find a job down the road and wondering why nobody head of Albers 😇 though I have to say Seattle U is a well enough know institution locally.

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