Deciding on the specifics of your MBA degree especially when you consider the number of elements you need to consider. These elements are cost, which specialization you’re gonna go for, the different accreditations out there and which ones will you go for.
Alongside the entity or business schools that are providing and whether the MBA is a Full-time MBA program or a part-time one, the ranking of your MBA degree remains one of the most important factors despite being the last that comes to mind if you asked why did choose that specific program.
That is why we decided to write a piece about the rankings of different MBA degrees, why they are important and what factors to consider when thinking about what ranking system you should go with and so forth.
1) Why are MBA Rankings Important?
So let’s start with the first question, which is are MBA degree rankings that important? Well the answer to that one is neither no their not and they don’t receive any importance nor add any value and the other is yet, they make all the difference in the world
This is mainly because different publications and ranking systems rank the different MBA degree programs out there focusing on a specific aspect or aspects of it such as Roi for its student, salaries, career trajectory or alumni feedback to name a few or a combination of them.
In short, considering the ranking of the school, university and any other institution providing these type of degrees is an aspect you should consider in terms of understanding the ROI of going with one business school or university over the other but it shouldn’t be the only factor you’re basing upon your decision on where to study for your MBA.
The core reason behind your choice should be things relevant to your study time and getting the most out of it and at the time serve your long time goal.
2) Consider the region when looking at MBA rankings
Whether an MBA program offered by a school from a business school ranked at the fifth place might be even better than the one coming from a rank second or third MBA Degree program, seeing if a school has constantly been featured in the top placements more than once in different ranking systems.
Alongside understanding how theses schools are ranked higher and based on what merits you need to take in mind the regional factor meaning where it is ranked in and is it ranked on a global scale among other questions
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3) Popular MBA Ranking systems
There are many Ranking Programs and systems out there when it comes to MBA degrees, and one of the main and most credible MBA ranking systems out there for you to check out.
Financial Times Global MBA ranking
The MBA degree ranking of the financial times might well be one if not the best ranking means of MBA degrees on a global scale. As we mentioned before though that each ranking system focuses on specific points and factors when placing one MBA degree higher than the other
The financial times focuses mainly on the Salary increases, accreditation, alumni response, graduates averages income three years after graduation making it one of the most well-rounded ranking systems
As per this ranking system, the top 5 schools are:
- Harvard Business School, U.S.A
- London Business School, U.K
- Otto Beisheim School ( WHU), Germany
- Erasmus University Rotterdam, Netherlands
- Bocconi University, Italy
The Economist Full MBA ranking
Similar to the Financial times ranking system, the economist also ranks the MBA programs based on a salary increase, alumni response, accreditation, and graduate average three-year income, however they measure it as follows
Graduate salary at admission, which accounts for a majority of the ranking, 80% and a survey filled by graduate and current MBA students, which accounts for the remaining 20 of the rank.
As for the top 5 programs they are as follows
- Booth School of business, U.S.A
- Warwick Business School, U.K
- Melbourne Business School, Australia
- INSEAD, France
- International Institute of Management Development, Switzerland
Forbes best Business School ranking
The ranking offered by Fores mainly focuses on business schools of the United States and the placement is fully dependent on only the return of investment or ROI during the first 5 years.
The formula considers both the alumni salaries after the deduction of student debt. The salaries are secured via a pay scale & the list of the students that took out debt and the amount of said debt. Additional ranking factors include student satisfaction, graduation rate & academic success. & the best 5 ranking schools are
- Stanford University, US
- University of Cambridge, UK
- IE Business School, Spain
- Indian School of Business, India
- ESMT Berlin, Germany
Those were all of the main pieces of information you need to know about MBA degree ranking, we hope it will be useful for you and helps you out on your MBA journey.