US News & World Report 2007 B-School Ranking Out Today
Hot off the press, this ranking was just announced this morning. Note my other journal entry today about how US News & World Report Ranking is valued compared to other B-School Rankings out there.
Here it is: (I've included the top 30 - The list goes up to 50)
1. Harvard University (MA) 2. Stanford University (CA) 3. University of Pennsylvania (Wharton) 4. Massachusetts Institute of Technology (Sloan) 4. Northwestern University (Kellogg) (IL) 6. University of Chicago 7. Columbia University (NY) 7. University of California–Berkeley (Haas) 9. Dartmouth College (Tuck) (NH) 10. University of California–Los Angeles (Anderson) 11. Duke University (Fuqua) (NC) 11. University of Michigan–Ann Arbor (Ross) 13. New York University (Stern) 13. University of Virginia (Darden) 15. Yale University (CT) 16. Carnegie Mellon University (Tepper) (PA) 16. Cornell University (Johnson) (NY) 18. Emory University (Goizueta) (GA) 18. University of Texas–Austin (McCombs) 20. University of North Carolina–Chapel Hill (Kenan-Flagler) 21. Purdue University–West Lafayette (Krannert) (IN) 22. Ohio State University (Fisher) 23. Indiana University–Bloomington (Kelley) 23. Michigan State University (Broad) 23. University of Minnesota–Twin Cities (Carlson) 26. University of Rochester (Simon) (NY) 26. Washington University in St. Louis (Olin) 28. University of Illinois–Urbana-Champaign 29. University of Southern California (Marshall) 29. University of Washington
In order to see the details, you've got to pay 9.99 for the printed version or 14.99 for the online searchable database environment.
====================================== B-Schools are always given advance notice when these rankings come out. HBS and UCLA were quick to release their PR announcements about how proud they are of their rankings. With HBS at number one and UCLA moving into the top 10, why wouldn't they be proud? As of 10am PST, no other schools in the top 50 as far as I can tell took the time to issue parallel PR announcements like UCLA and HBS did. =====================================
How was this ranking done and what criteria were used?
All 399 master's programs in business accredited by AACSB International were surveyed (347 responded, of which 240 provided the data needed to calculate rankings based on a weighted average of the quality indicators described below). All 399 schools appear in the directory.
Quality Assessment (weighted by .40)
* Peer Assessment Score (.25) In the fall of 2005, business school deans and directors of accredited master's programs in business were asked to rate programs on a scale from "marginal" (1) to "outstanding" (5). Those individuals who did not know enough about a school to evaluate it fairly were asked to mark "don't know." A school's score is the average of all the respondents who rated it. Responses of "don't know" counted neither for nor against a school. About 50 percent of those surveyed responded.
* Recruiter Assessment Score (.15) In the fall of 2005, corporate recruiters and company contacts who hire from previously ranked programs were asked to rate programs on a scale from "marginal" (1) to "outstanding" (5). Those individuals who did not know enough about a school to evaluate it fairly were asked to mark "don't know." A school's score is the average of all the respondents who rated it. Responses of "don't know" counted neither for nor against a school. About 31 percent of those surveyed responded.
Placement Success (weighted by .35)
* Mean Starting Salary and Bonus (.14) The average starting salary and bonus of 2005 graduates of a full-time master's program in business. Salary figures are based on the number of graduates that reported data. The mean signing bonus is weighted by the proportion of those graduates that reported a bonus, since not everyone who reported a base salary figure reported a signing bonus.
* Employment Rates for Full-time Master's Program in Business Graduates The employment rate for 2005 graduates of a full-time master's program in business. Those not seeking jobs or for whom no job-seeking information is available are excluded. If the proportions of graduates for whom no job-seeking information is available and who are not seeking jobs are high, then the information is not used in calculating the rankings. Employment rates at graduation (.07) and three months after graduation (.14) are used in the ranking model.
Student Selectivity (weighted by .25)
* Mean GMAT Scores (.1625) The average Graduate Management Admission Test score of students entering the full-time program in fall 2005. Scores on the test range from 200 to 800.
* Mean Undergraduate GPA (.075) The average undergraduate grade-point average of those students entering the full-time program in fall 2005.
* Acceptance Rate (.0125) The percent of applicants to the full-time program in fall 2005 who were accepted.
Overall Rank: Data were standardized about their means, and standardized scores were weighted, totaled, and rescaled so that the top school received 100; others received their percentage of the top score.
Specialty Rankings: These rankings are based solely on ratings by business school deans and directors of accredited master's programs from the list of schools surveyed. They were asked to nominate up to 10 programs for excellence in each of the areas listed. The schools receiving the most votes appear here.