The Economist recently published its 14th annual report on full-time MBA programs at schools around the world. Data for The Economist’s report was collected through two surveys conducted in the spring of 2016.
A quantitative survey of schools that offer MBA programs accounted for 80% of the ranking, supplemented by a qualitative survey of current MBA students and the most recent graduating class. Schools that didn’t have at least 25% of its current MBA class or 50 students and alumni respond to the qualitative survey weren’t included in the rankings.
The schools’ overall rank was determined by their rank in four categories: career opportunities, personal development and educational experience, salary increases and networking opportunities. The career opportunities and personal development categories were each weighted at 35%. Increase in salary accounted for 20% of a school’s rank, and the potential for networking accounted for 10%.
The report noted that rankings “are little more than an indication of the MBA market at a particular moment,” and urged students to be cautious as they consider schools for higher education. Most of the schools in the top 10 are based in the United States, but schools in Australia, France and Spain were also recognized.
10. The University of Queensland Business School, Australia
This Australian school ranked highly for students’ opportunities for personal development and educational experience, but networking opportunities were limited, The Economist found. Students ranked the school’s alumni effectiveness at 46 out of 100. It was also rated poorly for student diversity and internationalism.
Total program costs are almost $50,000, according to the report. For candidates willing to make the trip, accommodation costs run between $7,500 and $14,300 per year.
9. HEC School of Management, Paris
This school had a low ranking for new career opportunities (51 out of 100), but was ranked No. 1 in increase in salary for those students who do find a position. It also ranked highly in networking opportunities.
Total program costs are over $67,000, according to the report.
8. IESE Business School, University of Navarra, Spain
The highest ranking category for this school, located in Pamplona, Spain, was for increase in salary. The Economist noted a highly international network of alumni as well.
Total program fees are almost $85,932, according to the report.
7. Haas School of Business, University of California, Berkley
Haas’ highest ranking was in the networking category, followed closely by personal development opportunities. The Economist noted the school’s international alumni, student diversity and the quality of students and faculty as drivers in those categories.
Costs per year for the MBA program at Haas are almost $60,000.
6. Tuck School of Business, Dartmouth College
New career opportunities for graduates and personal development drove this school’s rank. Program fees are $64,200 per year.
5. Graduate School of Business, Stanford University
In addition to its overall ranking, Stanford’s Graduate School of Business ranked in the top five for personal development and increase in salary. It’s also among the most expensive schools in the top 10, at $66,540 per year, and with accommodation costs between $18,000 and $19,080 per year.
4. Harvard School of Business
The highest ranking category for Harvard was increase in salary. It ranked 11th in both networking opportunities and new career opportunities.
Costs are over $63,500 per year, according to the report.
3. Darden School of Business, University of Virginia
Darden’s highest ranking was in personal development and educational experience, particularly in education experience. It was also in the top five for new career opportunities.
A year in the MBA program at Darden costs over $63,500 per year. Full-time students are eligible for scholarships or loans.
2. Kellogg School of Management, Northwestern University
Kellogg surpassed the No. 1 school in its opportunities to network, thanks to a broader alumni network, a more international alumni, and students’ rating of alumni effectiveness, according to the report.
Fees for an MBA from Kellogg are over $64,000 per year, according to the report.
1. Booth School of Business, University of Chicago
The Chicago school has held the top spot on The Economist’s list since 2012. It was ranked No. 1 for personal development and educational experience, and No. 2 for new career opportunities.
Program fees approach $64,000 per academic year, according to The Economist.
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