Many organizations, including business magazines, newspapers and Internet sites publish lists of Universities offering MBA programs that are supposedly the best in the country. If you compare such lists, you find that many of the same schools appear on them, although not ranked in the same order on all lists. These are usually schools with national reputations and their names are well known in many parts of the world. Sadly, excellent schools offering good MBA programs have no chance to be including in these rankings. Some of the schools not included may, in fact, be more suitable for some students than the nationally known schools.
If you attach too much credibility to rankings published by periodicals such as Bloomberg Business Week, Forbes, and The Wall Street Journal, you may miss many opportunities to find an MBA program that fits your needs best. You must also understand that these lists rank the business school and not the school’s MBA program. Many schools offer full-time, part-time, and executive MBA classess. Distance Learning programs are now growing in popularity. A school’s full-time program may be taught by highly qualified professors while its part-time program is taught by adjuncts without terminal degrees.
It is interesting to look at the way MBA schools and programs rank if we compare them on a single characteristic such as student quality or starting salary of graduates. In this article we look at three rankings based on data reported by a large number of MBA schools.
The first ranking criterion is selectivity, or a measure of how many applicants are rejected by an MBA program. One must take this criterion with some skepticism. A school that rejects a large number of applicants because many of them are unqualified may rank higher than a school that rejects fewer applicants because it gets a small number of them but most are very good candidates. From a list of top 40 MBA programs out of 928 programs reporting as of January 2011, the first few most selective programs were:
Indian Institute of Technology’s Master of Management program – India – 99
University of Dhaka’s Full-Time MBA – Bangladesh – 97
Chaminade University of Honolulu’s MBA Evening Program – US – 95
National University of Singapore’s Part-Time MBA – Singapore -95
National University of Singapore’s The NUS MBA – Singapore -93
HFU Hochschule Furtwangen University’s Executive MBA – Germany -90
Lahore University of Management Sciences’s Full-Time program – Pakistan — 90
The two schools at the bottom of the list of 40 schools both ranked as #35 were
Simon Fraser University’s MBA – Canada – 75
TiasNimbas Business School’s 2-year Part-Time MBA – Netherlands – 75
A second ranking criterion is recruiting, the number of companies interviewing MBA students on campus prior to graduation. It is important to understand that a large number of recruiters does not mean a large number of job offers and a large number of interviews does not always mean talking to the best companies. A lot …