Rating School Rankings

The media and MBA program guidebooks have popularized business school rankings. Such comparisons are widely disputed—but they are also widely used.

As a result, you and many other MBA applicants may feel that rankings help them learn about schools.

Many factors go into establishing school rankings, depending on the publication and the research methodology used. The information used to rank schools is often subjective and inconsistent and may include survey results or information that isn’t checked for accuracy.

Also, rankings do not take into account the unique attributes of programs within a graduate management school and how these attributes might meet the individual needs of students. Rankings tell you that certain schools are 'best" and do not take into account "best fit."

• Rankings are not exhaustive listings—they do not examine all MBA program options available. Some schools, because they are smaller, newer, or have fewer alumni, are not ranked.
• Statistics can be misinterpreted when taken out of context. Read explanations of how data are gathered and reported.
• Know what went into the calculation. Facts such as student/faculty ratios, placement percentages, and average financial aid awards must be viewed with a critical eye.
• Publications of school rankings would not sell if everything on the list stayed in the same order from one publication to the next. Most schools do not change as dramatically as the rankings might have you believe.
• Some published school facts are inaccurate. The most accurate information comes directly from the school.
• An average is derived in a ranking. An "average" MBA never adequately describes any one person. It is unlikely that any individual MBA graduate totally mirrors a ranking’s averages.
• Pay more attention to ranges than averages. Averages should be viewed as estimates of what may be possible, while ranges note highs and lows that individuals experienced.

Although it may help to have comparative views of different schools, the research benchmarks used in any particular study will affect its outcome, and those benchmarks are not always clear and a consistent from one ranking to the next.

By comparing various studies and talking to MBA graduates, you can develop a broader perspective and reduce the chance that any one study’s bias will become your own. How well a particular MBA program fits your education, career, and lifestyle goals is the most important consideration.

And remember—the most up-to-date and accurate material about a school will come directly from that school.