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Welcome to F1GMAT's weekend updates for the week ending September 16, 2022. I am Atul Jose.
In this week’s podcast, we cover the methodology that has shaped this year’s BusinessWeek Business School rankings and the top five business schools in North America, Europe, and Asia. For the 2022-23 rankings, 117 MBA programs and 18,500 surveys from students, alumni, and recruiters, as well as compensation and employment data from each school, were accounted for in the ranking.
In the US, Stanford was #1 for compensation, networking, and entrepreneurship. Chicago Booth and Harvard jointly shared second place. Kellogg and Tuck took fourth and fifth places, respectively.
In Canada, Toronto Metropolitan University ranked first, followed by Smith School of Business, McGill, Concordia, and Alberta School of Business.
In Europe, London Business School dominated the top spot, followed by SDA Bocconi, St. Gallen, Mannheim, Cambridge’s Judge Business School, and Oxford’s Said Business School.
In Asia-Pacific, Shanghai University of Finance and Economics took first place, followed by HKUST, CEIBS, National University of Singapore, IIM Bangalore, and Indian School of Business.
Unlike other ROI-oriented rankings such as the Financial Times or The Economist, BusinessWeek also uses a Diversity Index to rank the US schools on race, ethnicity, and gender representations in their classes.
In the Diversity Index, M7 schools ranked much lower, with Wharton claiming the highest rank at eighth place, followed by Duke Fuqua in twelfth, Harvard in thirteenth, and Kellogg in fifteenth place. Stanford was tied with Fordham at the eighteenth place, followed by MIT Sloan, Yale, Michigan Ross, and Chicago Booth.
The methodology of the BusinessWeek ranking was conducted in a phased manner. In the first phase, schools are ranked based on information from their alumni, carrying 40% weightage, which was further weighted by the year of graduation. The class of ’16 has the highest weightage of 50%, followed by the Class of 2014 and Class of 2015, with 25% weightage each. The second factor in the first phase is information collected by the Class of 2022 carrying 25% weightage. The third factor is recruiter data for the hiring years of 2020 and 2021, which carried 35% weightage.
In the second phase, metrics are sorted differently for US schools and schools in the rest of the world (Europe, Asia-Pacific, and Canada). However, the same four factors constitute the ranking, but with different weightage. They are compensation, learning, networking, and entrepreneurship. US schools had an additional factor -diversity.
In the US, compensation weighted the heaviest at 37.4%, 0.5% higher than the rest of the world’s schools. The weightage of learning was relatively constant at the 25% mark. The weightage of the networking is different, with American schools having a lower weightage of 17.4% - 6.5% lower than their European, Asian, and Canadian counterparts.
Entrepreneurship has a slightly higher weightage in US schools - 2% higher, while diversity accounted for 8% of points allocated to each school.
The ranking is just one aspect of evaluating a school or an MBA program. For a detailed analysis of your profile and finding a matching MBA program based on recruiter perception, brand reach, mobility, curriculum, and potential for career transition or career growth, subscribe to F1GMAT’s Career Planning Service
