When you hear the phrase “best business school”, the usual suspects include Harvard, Stanford and Yale. These three names often come up in conversations and debates on what the top business schools in the United States are – and even globally – are.
But you'll be surprised to find other names on the list of top ranked business schools and universities, with some of them even adjudged to be better than the three mentioned. In the following discussion, we will be taking a look at business school rankings and identify the leading universities when it comes to their business programs.
Before that, however, it would be a good idea to have a bit of a background on these rankings, and how they are formulated.
RANKING BUSINESS SCHOOLS
There are several websites, organizations and agencies that release their own rankings, using their own sets of criteria as a guideline or basis for coming up with the ranks. The most trusted “rankers” include:
According to Forbes, their ranking is based solely on the return on investment of the graduates of the business schools in the 5 years since they completed or earned their MBA. This means they consider parameters such as average base salary, signing bonus and employment rate, among others.
They basically make a comparison of the earnings of the alumni within the 5-year period and the total compensation that they have foregone while attending business school, combined with the cost of tuition and other fees paid during the period of attendance.
Currently, Stanford University's Graduate School of Business tops Forbes' list of best business schools, followed closely by Harvard Business School and Northwestern University's Kellogg School of Management.
The ranking index used by Bloomberg Businessweek is comprised of the evaluation from surveys done with employers ...read more