mbaaspirant29:
In short, the recruiters do not care. They usually have long standing relationships with all these top schools. For the most part, the reputations of these schools are fairly consistent, more so when you get down to their relative strengths (Finance: Wharton, Stern, Booth; Entrepreneurship: Stanford; PE/Management: HBS, etc.)
Recruiters are not going to be swayed by the movement of the school's ranking up or down. The reason that these schools move is due to changing criteria in the ranking system, not fundamental changes in the schools themselves.
Also, it is really the alumni base that dictates recruiting efforts. If X firm has a strong connection to Y school, then the firm will recruit there regardless of whether the school is 12th or 15th in the rankings.
Even as you extend beyond the top 25 schools, the actual ranking does not really make a huge difference. The schools then become more regionally focused, so once you recruit outside of a home market, it may become more difficult.
Also, you have to ask yourself, ranking according to which publication? US News has been the gold standard for a while, but Forbes, The Financial Times, Wall Street Journal, etc. do get their fair share of attention.
Overall, while it's fun to track the movement of these schools, it's not really changing most people's perceptions.
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