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Thursday, October 12, 2006
BusinessWeek 2006 B-School Ranking released today
University of Chicago Vaults to No.1 on BusinessWeek's Best B-Schools List
Thursday October 12, 5:00 pm ET
Kellogg falls to No.3; Haas makes the top 10 for the first time since 2002
NEW YORK, Oct. 12 /PRNewswire/ -- University of Chicago, for the first time, has vaulted to the top of BusinessWeek's 2006 biennial survey of "The Best B-Schools." Chicago has always held an esteemed place in the BusinessWeek rankings, landing in the top five a half-dozen times since the rankings began in 1988. The B-school has an award-winning faculty, but its reputation with students has been uneven. Dean Edward A. Snyder's reforms, which include weekly breakfasts with students and improved support services for them, seem to have made the difference.
The best-ranked programs from previous years continue to dominate the top of the list. The University of Pennsylvania's Wharton School, which moved up a notch to No.2, did so on the strength of its core curriculum and extensive elective offerings, as well as unusual approaches to teaching. And even though Northwestern University's Kellogg School of Management lost its grip on the No.1 perch it has held since 2002, it fell only two places, to No.3. The University of California at Berkeley's Haas School of Business, which until now had never broken into the top 10, catapulted nine spots, to No. 8, leapfrogging such perennial favorites as Cornell, Columbia, and Dartmouth.
Since 1988, BusinessWeek has published its Best B-schools ranking every other year as a way to help prospective students find suitable MBA programs. Over the years, BusinessWeek has nearly tripled the size of the report, added new schools, and updated the methodology. Through all of this, the ranking has centered on one thing: customer satisfaction. This is measured by surveying not just thousands of students but the corporate recruiters who hire them.
This year, BusinessWeek sent a 50-question survey to 16,565 Class of 2006 MBA graduates at 100 schools in North America, Europe, and Asia. Overall, there were 9,298 responses, the same 56% response rate as in 2004. On the Web-based student survey, grads were asked to rate everything from teaching quality to the effectiveness of career services at their schools on a scale of 1-10. The Class of 2006 graduate survey results count for 50% of a school's total student satisfaction score. An additional 25% comes from the responses of 11,518 graduates in the 2002 poll and 25% from 10,074 graduates polled in 2004. We also invited corporate MBA recruiters to fill out an online survey similar to that of the student survey.
"The Best B-Schools" is the cover story of the October 23, 2006 issue of BusinessWeek, on newsstands on Monday, October 16th. In addition, the B-School channel of BusinessWeek.com offers in-depth profiles of more than 400 B-school programs, exclusive listings of the best B-schools by specialty, calculators, search and comparison tools, interactive tools, and much more.
Top 30 U.S. Programs (I've noted 2004 rankings to the right of each school name- Dave)
1 University of Chicago (was 2)
2 University of Pennsylvania (Wharton) (was 3)
3 Northwestern University (Kellogg) (was 1)
4 Harvard University (was 5)
5 University of Michigan (was 6)
6 Stanford University (was 4)
7 MIT (was 9)
8 UC Berkeley (Haas) (was 17)
9 Duke University (Fuqua) (was 11)
10 Columbia University (was 8)
11 Dartmouth (Tuck) (was 10)
12 UCLA (Anderson) (was 14)
13 Cornell University (was 7)
14 NYU (Stern) (was 13)
15 University of Virginia (Darden) (was 12)
16 Carnegie Mellon (was 15)
17 UNC - Chapel Hill (Kenan-Flagler) (was 16)
18 Indiana University (was 18)
19 Yale University (was 22)
20 Texas - Austin (was 19)
21 University of Southern California (Marshall) (was 27)
22 Georgetown University (was 25)
23 Emory University (was 20)
24 Purdue University (was 21)
25 University of Maryland (was 28)
26 Notre Dame University (was 24)
27 Washington University (Olin) (was 23)
28 Rochester (Simon) (was 29)
29 Michigan State University (was NA)
30 Vanderbilt University (was 30)
Non-U.S. Top 10 MBA Programs
1 Queens University
2 Western Ontario (Ivey)
3 Toronto
4 IMD
5 London Business School
6 INSEAD
7 ESADE
8 IESE
9 York
10 HEC - Montreal
U.S. Second Tier Programs
• Babson
• Illinois at Urbana-Champaign
• University of Minnesota
• Ohio StateUniversity
• Penn State University
• Thunderbird (Garvin)
• Wake Forest University
• University of Wisconsin
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4 Comments:
Nice to see a ICC Championship Advertisement on your blog. Does this imply the majority of the visitors to this blog are indians/sub-continent etc
cheers
Naren!
Actually, the google ads sense your ip address and consequent geographic location. They also sense you traffic history in relationship to the web site. I can't take credit for the ICC thing. It's all you man. - Dave
ok, I have to say this - chicago is not only not #1, I will make a strong case it's not in the top 10. Here is the actual top 10, by the ONLY criterion that matters - Once you get into all 10 schools, which do prospective students pick overwhelmingly when given the choice. This statistic is called the yield rate, and if you believe in the "wisdom of crowds", its a far more accurate predictor of quality than any other statistic. With that said, here's the list:
1. Harvard
1. Stanford
3. Wharton
4. Columbia
4. Kellogg
6. Tuck
6. MIT
8. Fuqua
8. Chicago
10. Stern
This is the list that describes pretty accurately how tens of thousands of students have picked business schools for the last 20 years. It hasn't worked out wrong for them.
Anonymous, I think I understand the frustration. Personally, I'm having a difficult time in knowing how a better ranking could be presented. Recruiters are highly biased towards their alma maters. Therefore, the Wall Street rankings are pretty screwed up because that's what they base most of their ranking on. To a far lesser impact, the BusinessWeek rankings also use Recruiter input. Frankly, I understand why Deans dislike rankings and why we the public need rankings. It's a rough situation.
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