Archive for March, 2010

How to Interpret MBA Program B-school Rankings

A number of organizations rank colleges, universities and business-schools in order to help students and applications make good education decisions. Do you know how to find the best rankings? More importantly, do you know how to interpret the MBA program rankings you do find? Every list puts someone different in the top ten, so it can be confusing to know what to believe. Here’s how to find the best lists and understand why certain rank higher than others.

Start by doing searches for top-ranked lists. Remember, not every list is created equally. Is the source reliable? A nationally acclaimed source or a large organization can give you a more reliable look than a smaller website with no real authority. Do your research, and find out if the organization really has the authority to rank MBA programs and business-schools.

Even among organizations qualified to rank educational programs, you’ll find differences between lists. Why? Everyone has a different system used to rank these programs. Once may not be more valid than another, but it is important for you to know the differences. Here are some of the main characteristics used for ranking:

* Average test scores of students
* Percentage of students working within six months of graduation
* Class size
* Study abroad opportunities
* Scheduling flexibility
* Academic standards
* Student resources
* Cost
* Percentage of students admitted
* Scholarships given out
* Alumni opportunities
* Green initiatives and sustainability

All of these characteristics used to rank a college may also be weighted differently. For example, List A and List B might both look at cost and student resources, but List A regards cost as more important, while List B is more interested in student resources. So, make sure you understand the weight given to these lists. However, this is not by far an extensive list. When you read any ranking list, make sure you understand all the characteristics used to complete the ranking. Keep in mind that organizations doing the ranking might change their qualifications from year to year.

How can you tell? Most college ranking lists don’t come complete with a breakdown of how they went about ranking each school. Start by reading what they do provide, however. In many cases, the list will come up with a paragraph about the top schools and why they were chosen.

You can always contact the organization that created the list as well. If you’re wondering why certain colleges rank higher than others, just talk to those who created it. Not everyone will reply, but those who do will likely be more than willing to help you. Remember, at the end of the day, you need to choose a school that is right for you. Just because one school is ranked higher than another on a list doesn’t mean that it is the better school for you.

MBA Programs Ranking

Most Valuable MBA Programs Ranking
MBA Programs Ranking By Three-Year Salaries
MBA Programs Ranking By Starting Salaries

US MIS Graduate Program Ranking 2009
List the top 20 MIS (Management Information System) graduate programs in 2009 ranked by USNews.

Tuition and Future Income Ranking Of US MBA Programs
Is a business school degree worth the considerable investment? Our ranking will help you make that determination by comparing the cost of attaining an M.B.A.–foregone income and tuition–to the prospect of a bigger salary. In short, our study shows which schools offer the best return on your investment.

A Complete List Of US Financial Engineering Programs
A complete list of graduate Financial Engineering/mathematical finance Programs in United States.

No GMAT MBA Programs?
Harvard Business School, Standord and MIT Sloan has announced that they no longer require MBA applicants to submit GMAT scores. Is this a no-GMAT trend?

List of US and Canadian MBA Programs that Accept GRE Scores
According to ETS, the following business schools in United States and Canada accept GRE General Test scores for admission to their MBA programs…

GMAT expert Brian Galvin from Veritas Prep explores what to do with a low GMAT Quant score. Find out what scores are considered “too” low, what areas of the application can help supplement a low GMAT math score, and learn some GMAT tips on improving your score. Also, hear how two admissions directors views low GMAT scores, whether the GRE is an option for you, and run through a sample GMAT Problem Solving Question.

Source: MBA Podcaster

We often get the question ‘does an MBA make sense for engineers?’ To answer the question and more, I spoke to an admissions consultant, several students, and a couple of deans about engineers and b-schools.

  • What should applicants with engineering backgrounds emphasize on their applications?
  • How can the engineers round out their skills before they apply?
  • Which are the graduate degree options for engineers?
  • What’s the career track if you get an MBA versus just stay in engineering?

“For the record, we love to see the engineers apply.” That’s Beth Flye, the Assistant Dean and Director of Admissions and Financial Aid at Kellogg School of Management.

Betsy Massar is the founder and CEO of Master Admissions, an MBA Admissions Consultancy.I asked her which schools like engineers.

“Everybody loves engineers.Who wouldn’t? Every school is going to want an engineer as long as they’re engineer that is going to be able to add to the class.If you look at the top schools, you’ll see that about 33 to35% have entering students with engineering or science or technical disciplines in their degrees. Harvard’s class of 2011 has 33% entering students with engineering degrees or science-related degrees.The Stanford Graduate School of Business has 36%.”

Beth Flye of Kellogg says that most schools look for the same things in engineers as they look for in their other applicants.

“We’re most interested in the quality of a person’s work experience. Quality meaning such things as how has that person had impact at their organization. It could be P&L, it could be from a management standpoint, do they have evidence of progression, what skills have they developed. How does their particular professional experience tie to their post-MBA goals, at least their goals that they have articulated.”

Engineers can get a regular MBA or because of their technical background they can apply to a dual MBA-Masters in Engineering program. Not surprising, one of the best of those dual programs can be found at M.I.T. and the Sloan School of Management.

Don Rosenfield, the director of the dual-degree M.I.T. Leaders for Global Operations or LGO program, says that M.I.T. wants high academic performance and achievement and demonstrated leadership skills for both their regular MBA programs and the specialized LGO program.

Rosenfield says leadership can be demonstrated in various ways.

“Ability to work in teams, ability to work with ambiguous data – you look for things like can they deal with difficult situations. Do they have independence of thoughts and action? There’s a whole series of behavioral characteristics that the school looks for.”

He also says they look at what the applicant has done since he or she graduated from undergrad.

“Well for commitment to operations, we look at what kinds of jobs, what kinds of issues they’ve worked on. They don’t necessarily have to be working directly in operations or manufacturing, but they have to show in their interviews and their essays that they are very interested in that area.

OK. On paper you look great. You’ve got great test scores, good grades, and several years of work experience with increasing responsibilities, but Flye says that you need to differentiate yourself from others in the applicant pool.

“The way to do that is to present your authentic self. Who you are, not just the what information, I say, but if you pick up someone’s resume’ that you don’t know, you see some data points, you see some facts. What you do not see is their story. And that is what we are really, really interested in is that person’s story. And that’s where the essays come into play and that’s where the interview comes into play.

Betsy Massar advises that engineers should NOT write their essays all about engineering and their work.

“But to talk about some of the other things that they’re interested in such as reading or movies or sports or anything that indicates that they do more than sit in front of their computer. And I say that because I’ve met so many interesting engineers that have so much else to talk about but for some reason they think that’s the strongest part why they’re applying to business school.”

Kellogg’s Flye concurs. She says if you’re an engineer with great quant skills – this is evident in other parts of your application.

“What is most important in your approach as an applicant is to be holistic about yourself.We want to know all about you. Not just the fact that you have great grades and perhaps a strong GMAT score and strong quantitative skills…But we want to know about your professional experiences. We want to know what your endeavors are. We want to experience through your essays and your interviews who you are. That is very, very core to how we evaluate applicants.”

Massar suggests some specific ways for engineers to demonstrate their well-roundedness.

“Get a hobby.Or look back on their own history and don’t be afraid to explore some of the things they used to like to do other than play computer games.”

The essay is a great way for an engineer to showcase verbal skills – just in case verbal test scores are not quite as high as quantitative scores.Shortcomings in verbal scores don’t necessarily relegate engineers to an engineering career. Flye says Kellogg doesn’t have a minimum score requirements.

“We don’t make a decision isolated solely on one area of criteria.So is it possible, in the case of a person with an engineering background, if that person has a lower verbal score, however one wants to define that, is that a deal breaker? Not necessarily at all.”

Rosenfield says that M.I.T. also is concerned with the entire application.

“We look at all the data, test scores, undergraduate achievement. We recognize that test scores can sometimes not give an accurate picture.Certainly a low test score will be an indicator, but there’s no point that we say we won’t consider ‘x’ and we won’t consider ‘y.’ We’ll certainly look at the scores, but we try to keep it in context.It largely depends on what the rest of the pattern says.”

But if you’re really worried about your verbal and writing skills, Flye has an idea.

“Be proactive. Take a class in that area.”

Massar says if you’re an engineer, don’t jump to the same false conclusion many people do when it comes to engineers and the alphabet.

“They get a bad wrap for being bad writers. I talked to an engineer when he was first entering business school this year. I told him that I was a professional writer. He said I really could use some of your help because I’m an engineer.I went to M.I.T. I couldn’t write to save myself. And I’ve seen his writing. His writing is wonderful. I think engineers think they can’t write, when they can write very clearly. I think some English majors seem to write business writing as it’s the great American novel or they’re trying to channel Barack Obama’s speech writer. And that doesn’t necessarily make for good business communication.”

Massar adds that engineers tend to write to the point and in business writing, it’s about telling the audience what they need to hear in order to make a decision.

So let’s say you’ve got the work experience, you’ve written a killer essay and you were accepted into business school. What might be some good things to know?

Margo Villadelgado is studying for an MBA and Masters in Engineering Management at Northwestern’s Kellogg School of Management. She has an undergraduate degree in systems engineering and economics from the University of Virginia. When she graduated she consulted, mostly in IT. She has some really good advice.

“Really think what it is that you want to do after business school, both immediately and in the future. And really look at what skills you have and what areas you need to fill in and what the business school can do for you – doing some self assessment to make the most of your two years at any business school.”

That seems like a lot of time, but it’s not when there are dozens of courses to choose from.

“It’s a matter of prioritizing which classes and which opportunities I want to pursue in such a short period of time because there’s a lot of great courses and opportunities.

For example, one of the classes that I took that kind of combines both healthcare and marketing was biotech marketing, so looking how healthcare companies approach the marketing discipline and how it differs from a consumer product that is being marketed.”

She’s also taking an experiential learning course.

“One of the ones I’m working on right now is called Newvention. It’s an integration with the business, law, engineering and medical schools. We’ve teamed up to look at the medical device industry, see if there are unmet needs in different areas, and go from the entire process of conceptualizing an idea, prototyping it and looking how you would introduce it to the market.”

Karla Krause worked for Dell for four years in various roles including production scheduling, capacity planning and outsourcing before she enrolled in the MIT Leaders for Global Operations program. Her MBA will give her a more complete picture of the supply chain.

“I’m planning to go back to Dell in a supply chain related function.I’ve been in some parts of the supply chain, but I haven’t done much with the outbound or logistics, the back end portion.What I’m looking to get an expertise in is once the product leaves either the manufacturing facility or the distribution center, how does it get to the end customer. What’s the optimal networks and which vendors do you need to involve there, what are all the implications and where can you become more efficient or save money once the product is made to getting it to the end customer.”

Iker Marcaide is Krause’s colleague at Sloan. He has an undergraduate degree in Industrial Engineering and Masters in Industrial Management from the Polytechnic University of Valencia in Spain. He was a consultant at The Boston Consulting Group where he specialized in strategic plans, operational turnarounds, and marketing strategies. He chose the dual masters at MIT because he wanted a more intense experience than a traditional MBA. He was looking to deepen his knowledge of operational excellence. Which is…

“To put it simply, it’s how you design not only processes to minimize wastes, but also how can you effectively reach the outputs you desire in an organization by making it highly efficient and effective.”

Villadelgado, Marcaide, Krause and their engineering colleagues don’t go to school just to fill holes in their skill sets. The end goal is to advance in their careers.Here’s Krause.

“If you would like to move up and become an engineering manager, or a general manager of engineering or even a VP of the technology sector, you really have to have the business skills. I mean, ultimately, businesses are there to make money and you have to be able to see how the projects are either viable from a financial standpoint or how the projects fit into the overall goals of the company or how they align with the financial health of the business. I think it’s critical and just an absolute perfect pairing to be able to have the engineering technical knowledge and get the business knowledge to know how to apply it. Because ultimately if you move up you’re not going to be doing a lot of the engineering work, but you still need to be able to understand and articulate the engineering projects.”

M.I.T.’s Rosenfield says that engineers with business degrees don’t only move up but often rise to positions of leadership.

“We can offer students the possibility to go into a technology company, work in both the technical and management arenas and rise up significantly.Many of our students go into these companies and experience a formal rotation or if not experience a different variety of jobs and that prepares them for leadership. Students who have been out of the program for a number of years, they are reaching major positions of leadership in these companies.”

Marcaide names examples of positions for which his colleagues in the Leadership for Global Operations program have been hired.

“A sample of positions that the previous class than myself reached was operations manager, transformational leaders, supply chain managers.I think there is also a big trend now into energy.So I think we’ll see people from my class taking leadership positions within energy in manufacturing companies as well.”

But he’s decided to take another route and will become an entrepreneur.

“I found a very interesting optimization problem that we can apply to financial services. So I’m actually going to take the start-up or entrepreneurial route of applying operations management to a non-traditional problem in financial services.”

In other words, engineers who receive an MBA have all the choices a regular MBA has and then some. And they’re in demand says Massar.

“A business school student that has an undergraduate degree in a quantitative hard heavy duty engineering discipline plus a business school strategic framework plus the training they will get in leadership and interpersonal skills especially in the schools that have a focus on leadership development, those students will be well positioned to enter into any company, strategic planning group or in a management consulting firm or even in the financial industry.It’s the way someone thinks about the problem is what the recruiter will probably be looking for.”

Recruiters love you, and just to hammer the point home, so do the b-schools.

“Engineers have been and will continue to be an attractive group from which business schools are recruiting.”

So engineers – get your pencils sharpened, your essays written and your applications mailed.

Source: MBAPodcaster, by Heidi Pickman.

Engineering Majors Better Than B-School Majors?

If you’re the type to take advice from country and western songs, then you no doubt already know that it’s a big mistake to let your kids grow up to be cowboys. Now I’m beginning to wonder whether the same injunction holds true for business majors.

According to the National Association of Colleges and Employers, which surveys college and university career services offices nationwide, the highest-paid disciplines are not in business. In fact the top 10 are all in engineering, computer science, and information systems. Not a business discipline in sight.

How bad is it? Well, when Bloomberg BusinessWeek compiled its ranking of the top undergraduate business programs, we asked all 111 schools for the average graduate’s salary. It turned out to be $48,311, topping out at MIT Sloan (Sloan Undergraduate Business Profile), where the median starting salary was $62,000.

In the NACE survey, that was more or less the average for all bachelor’s degrees ($48,351)—suggesting that business undergrads, which for years enjoyed a significant pay premium over many other disciplines, no longer do.

And when it comes to the engineering disciplines, business is a clear also-ran. Here are the NACE numbers:

Petroleum Engineering: $86,220
Chemical Engineering: $65,142
Mining & Mineral Engineering: $64,552
Computer Science: $61,205
Computer Engineering: $60,879
Electrical/Electronics & Communications Engineering: $59,074
Mechanical Engineering: $58,392
Industrial/Manufacturing Engineering: $57,734
Aerospace/Aeronautical/Astronautical Engineering: $57,231
Information Sciences & Systems: $54,038

Hmmm. Mamas don’t let your babies grow up to be business majors….doesn’t have quite the same ring. Now excuse me while I go study up on petroleum.

Source: BusinessWeek,by Louis Lavelle.

Take The GMAT Test For Free

The Graduate Management Admission Council (GMAC) announced a new fee waiver program today.

The cost of taking the Graduate Management Admission Test (GMAT) exam can be prohibitively expensive for some B-school candidates, especially those unable to scrounge up the hefty $250 registration fee. Now GMAC is hoping to make a dent in that problem, starting a new program that will give business schools the option of waiving the testing fee for “underserved or economically disadvantaged” applicants, the organization announced today. Schools that participate will be able to receive up to 10 fee waivers, and in some cases more if the schools runs an admissions outreach program that targets students in these circumstances, GMAC says. Schools will then issue the waivers to students, who can use it to take one test and send out five official score reports to different business schools of their choosing. The admissions office can also give the waiver to an economically disadvantaged student who wants to retake the exam GMAC says.

“The fee waiver program reflects GMAC’s commitment to helping people with talent enter management education, whatever their financial circumstances,” said Julia Tyler, GMAC’s executive vice president of member services and school marketing.

The fee waiver program is an expansion of an existing one that helps people cover the cost of taking the GMAT, GMAC says. It may also be a strategic way for the testing administrator to compete with the Educational Testing Service, which has spent the last year or so trying to make inroads into GMAC’s domination of the B-school testing arena.

Most Valuable MBA Programs Ranking

Source: Financial Times
Note: This is calculated using the salary earned by alumni today, course length, fees and other costs, including the opportunity cost of not working for the duration of the course.

FT Rank ’10 School name Country Value Employed 3months (%)
1 22 Northwestern University: Kellogg U.S.A. 100 80 ( 98)
2 99 Babson College: Olin U.S.A. 99 71 ( 96)
3 2 University of Pennsylvania: Wharton U.S.A. 98 75 ( 96)
4 36 Cornell
University: Johnson
U.S.A. 97 70 ( 95)
5 34 Carnegie
Mellon: Tepper
U.S.A. 96 81 ( 96)
6 20 Duke
University: Fuqua
U.S.A. 95 76 ( 97)
7 4 Stanford
University GSB
U.S.A. 94 85 ( 96)
8 3 Harvard
Business School
U.S.A. 93 87 ( 100)
9 57 University of
Southern California: Marshall
U.S.A. 92 82 ( 96)
10 8 MIT Sloan
School of Management
U.S.A. 91 83 ( 93)
11 9 University of
Chicago: Booth
U.S.A. 90 82 ( 99)
12 44 Rice
University: Jones
U.S.A. 89 83 ( 97)
13 6 Columbia
Business School
U.S.A. 88 77 ( 90)
14 28 University of
California at Berkeley: Haas
U.S.A. 87 81 ( 96)
15 13 Dartmouth
College: Tuck
U.S.A. 86 83 ( 99)
16 57 Vanderbilt
University: Owen
U.S.A. 85 73 ( 97)
17 28 University of
Michigan: Ross
U.S.A. 84 71 ( 91)
18 38 Georgetown
University: McDonough
U.S.A. 83 78 ( 91)
19 13 New York
University: Stern
U.S.A. 82 80 ( 95)
20 61 Tulane
University: Freeman
U.S.A. 81 83 ( 93)
21 96 SMU: Cox U.S.A. 80 75 ( 95)
22 49 Washington
University: Olin
U.S.A. 79 91 ( 89)
23 34 Emory
University: Goizueta
U.S.A. 78 72 ( 100)
24 31 University of
Virginia: Darden
U.S.A. 77 77 ( 100)
25 48 University of
Rochester: Simon
U.S.A. 76 83 ( 81)
26 61 Boston
University School of Management
U.S.A. 75 90 ( 89)
27 71 University of
Notre Dame: Mendoza
U.S.A. 74 80 ( 97)
28 16 Yale School of
Management
U.S.A. 73 85 ( 99)
29 75 University of
Minnesota: Carlson
U.S.A. 72 78 ( 68)
30 57 George
Washington University
U.S.A. 71 75 ( 91)
31 83 University of
Miami School of Business Administration
U.S.A. 70 62 ( 95)
32 80 Case Western
Reserve University: Weatherhead
U.S.A. 69 53 ( 91)
33 79 Wake Forest
University: Babcock
U.S.A. 68 81 ( 100)
34 80 University of
California: Davis
U.S.A. 67 79 ( 97)
35 11 Iese Business
School
Spain 66 86 ( 97)
36 72 University of
California at Irvine: Merage
U.S.A. 65 92 ( 99)
37 33 UCLA: Anderson U.S.A. 64 71 ( 94)
38 93 Ipade Mexico 63 89 ( 100)
39 52 University of
Texas at Austin: McCombs
U.S.A. 62 79 ( 93)
40 78 University of
Washington Business School: Foster
U.S.A. 61 77 ( 100)
41 47 Boston College:
Carroll
U.S.A. 60 82 ( 95)
42 46 University of
North Carolina: Kenan-Flagler
U.S.A. 59 69 ( 100)
43 43 University of
Maryland: Smith
U.S.A. 58 85 ( 94)
44 40 Manchester
Business School
U.K. 57 93 ( 84)
45 45 University of
Toronto: Rotman
Canada 56 83 ( 95)
46 67 Ohio State
University: Fisher
U.S.A. 55 90 ( 85)
47 57 Indiana
University: Kelley
U.S.A. 54 68 ( 96)
48 89 Arizona State
University: Carey
U.S.A. 53 78 ( 96)
49 83 University of
Arizona: Eller
U.S.A. 52 65 ( 100)
50 67 Thunderbird
School of Global Management
U.S.A. 51 61 ( 86)
51 1 London Business
School
U.K. 50 81 ( 99)
52 67 University of
South Carolina: Moore
U.S.A. 49 62 ( 92)
53 65 Michigan State
University: Broad
U.S.A. 48 74 ( 100)
54 52 University of
Illinois at Urbana-Champaign
U.S.A. 47 81 ( 94)
55 54 Purdue
University: Krannert
U.S.A. 46 75 ( 93)
56 28 Chinese
University of Hong Kong
China 45 93 ( 95)
57 22 Ceibs China 44 75 ( 84)
58 67 Wisconsin
School of Business
U.S.A. 43 91 ( 98)
59 63 Melbourne
Business School
Australia 42 77 ( 92)
60 19 Esade Business
School
Spain 41 81 ( 100)
61 64 University of
Iowa: Tippie
U.S.A. 40 85 ( 99)
62 36 Australian
School of Business
Australia 39 81 ( 89)
63 18 HEC Paris France 38 89 ( 87)
64 94 Hult
International Business School
U.S.A. / U.K. / U.A.E. / China 37 73 ( 95)
65 77 University of
Florida: Hough
U.S.A. 36 79 ( 91)
66 54 York
University: Schulich
Canada 35 80 ( 93)
67 12 Indian School
of Business
India 34 97 ( 99)
68 82 University of
British Columbia: Sauder
Canada 33 83 ( 89)
69 49 University of
Western Ontario: Ivey
Canada 32 87 ( 95)
70 9 Hong Kong UST
Business School
China 31 91 ( 90)
71 99 Macquarie
Graduate School of Management
Australia 30 100 ( 48)
72 86 University of
Alberta
Canada 29 75 ( 100)
73 27 Nanyang
Business School
Singapore 28 81 ( 100)
74 95 McGill
University: Desautels
Canada 27 93 ( 77)
75 38 SDA Bocconi Italy 26 85 ( 90)
76 83 Brigham Young
University: Marriott
U.S.A. 25 83 ( 100)
77 97 EM Lyon
Business School
France 24 81 ( 84)
78 89 University of
Edinburgh Business School
U.K. 23 89 ( 97)
79 41 City
University: Cass
U.K. 22 93 ( 90)
80 73 Aston Business
School
U.K. 21 77 ( 91)
81 25 Rotterdam
School of Management, Erasmus University
Netherlands 20 85 ( 87)
82 54 Texas A & M
University: Mays
U.S.A. 19 89 ( 100)
83 87 University of
Bath School of Management
U.K. 18 95 ( 92)
84 32 Imperial
College Business School
U.K. 17 85 ( 87)
85 6 IE Business
School
Spain 16 89 ( 89)
86 75 Birmingham
Business School
U.K. 15 98 ( 47)
87 87 Vlerick Leuven
Gent Management School
Belgium 14 65 ( 95)
88 21 University of
Cambridge: Judge
U.K. 13 89 ( 93)
89 16 University of
Oxford: Saïd
U.K. 12 74 ( 63)
90 89 Bradford School
of Management/TiasNimbas Business School
U.K. / Netherlands / Germany 11 86 ( 81)
91 42 Warwick
Business School
U.K. 10 89 ( 90)
92 26 Cranfield
School of Management
U.K. 9 95 ( 100)
93 5 Insead France / Singapore 8 79 ( 95)
94 74 Durham Business
School
U.K. 7 90 ( 85)
95 15 IMD Switzerland 6 88 ( 100)
96 98 University
College Dublin: Smurfit
Ireland 5 96 ( 89)
97 51 University of
Strathclyde Business School
U.K. 4 91 ( 55)
98 24 Lancaster
University Management School
U.K. 3 78 ( 75)
99 89 University of
Cape Town GSB
South Africa 2 93 ( 96)
100 65 Coppead Brazil 1 11 ( 100)

MBA Programs Ranking By Starting Salaries

Source: Financial Times

FT Rank ’2010 School Name Country Weighted Salary ($)**
1 4 Stanford University GSB U.S.A. 164863
2 6 Columbia Business School U.S.A. 160679
3 2 University of Pennsylvania: Wharton U.S.A. 160848
4 3 Harvard Business School U.S.A. 161887
5 9 University of Chicago: Booth U.S.A. 151758
6 13 Dartmouth College: Tuck U.S.A. 152802
7 8 MIT Sloan School of Management U.S.A. 154058
8 16 Yale School of Management U.S.A. 139165
9 1 London Business School U.K. 142340
10 5 Insead France / Singapore 139941
11 12 Indian School of Business India 141291
12 28 University of California at Berkeley: Haas U.S.A. 140478
13 22 Northwestern University: Kellogg U.S.A. 138761
14 15 IMD Switzerland 140320
15 16 University of Oxford: Saïd U.K. 136467
16 13 New York University: Stern U.S.A. 136080
17 33 UCLA: Anderson U.S.A. 134301
18 6 IE Business School Spain 139458
19 89 University of Cape Town GSB South Africa 133352
20 31 University of Virginia: Darden U.S.A. 132888
21 26 Cranfield School of Management U.K. 133886
22 36 Cornell University: Johnson U.S.A. 129582
23 11 Iese Business School Spain 128891
24 20 Duke University: Fuqua U.S.A. 129977
25 21 University of Cambridge: Judge U.K. 125690
26 34 Carnegie Mellon: Tepper U.S.A. 126834
27 28 University of Michigan: Ross U.S.A. 125421
28 36 Australian School of Business Australia 122890
29 19 Esade Business School Spain 122825
30 34 Emory University: Goizueta U.S.A. 121973
31 18 HEC Paris France 122086
32 41 City University: Cass U.K. 120632
33 38 Georgetown University: McDonough U.S.A. 121402
34 32 Imperial College Business School U.K. 120306
35 22 Ceibs China 127688
36 47 Boston College: Carroll U.S.A. 118352
37 46 University of North Carolina: Kenan-Flagler U.S.A. 118117
38 57 University of Southern California: Marshall U.S.A. 115746
39 52 University of Texas at Austin: McCombs U.S.A. 116866
40 9 Hong Kong UST Business School China 115535
41 44 Rice University: Jones U.S.A. 114070
42 99 Macquarie Graduate School of Management Australia 113796
43 25 Rotterdam School of Management, Erasmus University Netherlands 113595
44 48 University of Rochester: Simon U.S.A. 113864
45 57 Vanderbilt University: Owen U.S.A. 114086
46 24 Lancaster University Management School U.K. 112214
47 80 University of California: Davis U.S.A. 112125
48 42 Warwick Business School U.K. 110700
49 40 Manchester Business School U.K. 111150
50 27 Nanyang Business School Singapore 110567
51 57 Indiana University: Kelley U.S.A. 110417
52 51 University of Strathclyde Business School U.K. 109994
53 63 Melbourne Business School Australia 107247
54 99 Babson College: Olin U.S.A. 109745
55 49 Washington University: Olin U.S.A. 108746
56 61 Boston University School of Management U.S.A. 107774
57 71 University of Notre Dame: Mendoza U.S.A. 107601
58 78 University of Washington Business School: Foster U.S.A. 106998
59 57 George Washington University U.S.A. 104571
60 43 University of Maryland: Smith U.S.A. 104223
61 38 SDA Bocconi Italy 103560
62 65 Coppead Brazil 104002
63 54 Purdue University: Krannert U.S.A. 103737
64 79 Wake Forest University: Babcock U.S.A. 103733
65 87 University of Bath School of Management U.K. 103640
66 75 University of Minnesota: Carlson U.S.A. 103294
67 67 Wisconsin School of Business U.S.A. 103266
68 28 Chinese University of Hong Kong China 103136
69 65 Michigan State University: Broad U.S.A. 103018
70 49 University of Western Ontario: Ivey Canada 102839
71 54 Texas A & M University: Mays U.S.A. 102300
72 96 SMU: Cox U.S.A. 101299
73 72 University of California at Irvine: Merage U.S.A. 100483
74 67 Thunderbird School of Global Management U.S.A. 100150
75 98 University College Dublin: Smurfit Ireland 99456
76 45 University of Toronto: Rotman Canada 96436
77 77 University of Florida: Hough U.S.A. 99172
78 61 Tulane University: Freeman U.S.A. 98938
79 83 University of Miami School of Business Administration U.S.A. 98736
80 94 Hult International Business School U.S.A. / U.K. / U.A.E. / China 98644
81 89 University of Edinburgh Business School U.K. 98256
82 83 Brigham Young University: Marriott U.S.A. 97928
83 67 Ohio State University: Fisher U.S.A. 97750
84 87 Vlerick Leuven Gent Management School Belgium 97677
85 89 Bradford School of Management/TiasNimbas Business School U.K. / Netherlands / Germany 96993
86 67 University of South Carolina: Moore U.S.A. 95672
87 74 Durham Business School U.K. 95662
88 80 Case Western Reserve University: Weatherhead U.S.A. 95500
89 83 University of Arizona: Eller U.S.A. 94357
90 89 Arizona State University: Carey U.S.A. 94290
91 73 Aston Business School U.K. 93717
92 93 Ipade Mexico 93620
93 52 University of Illinois at Urbana-Champaign U.S.A. 91435
94 97 EM Lyon Business School France 91122
95 64 University of Iowa: Tippie U.S.A. 90845
96 75 Birmingham Business School U.K. 90161
97 95 McGill University: Desautels Canada 83435
98 54 York University: Schulich Canada 85547
99 82 University of British Columbia: Sauder Canada 83514
100 86 University of Alberta Canada 79383

** Note: The average alumni salary today with adjustment for salary variations between industry sectors. This figure includes data for the current year and the one or two preceding years
where available.

MBA Programs Ranking By Three-Year Salaries

Global MBA Programs Ranking By Three-Year Salaries

Source: Financial Times

Note: The average alumni salary three years after graduation. (The 2010 ranking surveyed the MBA class that graduated in 2006). This figure includes alumni salary data for the current year and the one or two preceding years, where available.

FT Rank ’2010 School name Country Sal today ($)
1 4 Stanford University GSB U.S.A. 169989
2 6 Columbia Business School U.S.A. 164108
3 2 University of Pennsylvania: Wharton U.S.A. 163561
4 3 Harvard Business School U.S.A. 161336
5 9 University of Chicago: Booth U.S.A. 156721
6 13 Dartmouth College: Tuck U.S.A. 154607
7 8 MIT Sloan School of Management U.S.A. 154300
8 16 Yale School of Management U.S.A. 141701
9 1 London Business School U.K. 141606
10 5 Insead France / Singapore 140497
11 12 Indian School of Business India 140202
12 28 University of California at Berkeley: Haas U.S.A. 140132
13 22 Northwestern University: Kellogg U.S.A. 139310
14 15 IMD Switzerland 139204
15 16 University of
Oxford: Saïd
U.K. 138818
16 13 New York
University: Stern
U.S.A. 138212
17 33 UCLA: Anderson U.S.A. 138103
18 6 IE Business School Spain 134392
19 89 University of Cape Town GSB South Africa 133352
20 31 University of Virginia: Darden U.S.A. 132623
21 26 Cranfield School of Management U.K. 131954
22 36 Cornell University: Johnson U.S.A. 130124
23 11 Iese Business School Spain 129734
24 20 Duke University: Fuqua U.S.A. 129065
25 21 University of Cambridge: Judge U.K. 128714
26 34 Carnegie Mellon: Tepper U.S.A. 126478
27 28 University of Michigan: Ross U.S.A. 124697
28 36 Australian School of Business Australia 122890
29 19 Esade Business School Spain 122050
30 34 Emory University: Goizueta U.S.A. 121973
31 18 HEC Paris France 121944
32 41 City
University: Cass
U.K. 120632
33 38 Georgetown University: McDonough U.S.A. 120574
34 32 Imperial College Business School U.K. 120306
35 22 Ceibs China 119309
36 47 Boston College: Carroll U.S.A. 118352
37 46 University of North Carolina: Kenan-Flagler U.S.A. 116096
38 57 University of Southern California: Marshall U.S.A. 115840
39 52 University of
Texas at Austin: McCombs
U.S.A. 115750
40 9 Hong Kong UST Business School China 115535
41 44 Rice University: Jones U.S.A. 114070
42 99 Macquarie Graduate School of Management Australia 113796
43 25 Rotterdam School of Management, Erasmus University Netherlands 113640
44 48 University of Rochester: Simon U.S.A. 113480
45 57 Vanderbilt University: Owen U.S.A. 113407
46 24 Lancaster University Management School U.K. 112214
47 80 University of California: Davis U.S.A. 112125
48 42 Warwick Business School U.K. 110700
49 40 Manchester Business School U.K. 110595
50 27 Nanyang Business School Singapore 110567
51 57 Indiana University: Kelley U.S.A. 110456
52 51 University of Strathclyde Business School U.K. 109994
53 63 Melbourne Business School Australia 109538
54 99 Babson College: Olin U.S.A. 109382
55 49 Washington University: Olin U.S.A. 108746
56 61 Boston University School of Management U.S.A. 107774
57 71 University of Notre Dame: Mendoza U.S.A. 107489
58 78 University of Washington Business School: Foster U.S.A. 106998
59 57 George Washington University U.S.A. 104571
60 43 University of Maryland: Smith U.S.A. 104223
61 38 SDA Bocconi Italy 104164
62 65 Coppead Brazil 104002
63 54 Purdue University: Krannert U.S.A. 103737
64 79 Wake Forest University: Babcock U.S.A. 103733
65 87 University of Bath School of Management U.K. 103640
66 75 University of Minnesota: Carlson U.S.A. 103294
67 67 Wisconsin School of Business U.S.A. 103266
68 28 Chinese University of Hong Kong China 103136
69 65 Michigan State University: Broad U.S.A. 103018
70 49 University of Western Ontario: Ivey Canada 102842
71 54 Texas A & M University: Mays U.S.A. 102300
72 96 SMU: Cox U.S.A. 101299
73 72 University of California at Irvine: Merage U.S.A. 100483
74 67 Thunderbird School of Global Management U.S.A. 99731
75 98 University College Dublin: Smurfit Ireland 99456
76 45 University of Toronto: Rotman Canada 99408
77 77 University of Florida: Hough U.S.A. 99172
78 61 Tulane University: Freeman U.S.A. 98938
79 83 University of Miami School of Business Administration U.S.A. 98736
80 94 Hult International Business School U.S.A. / U.K. / U.A.E. / China 98644
81 89 University of Edinburgh Business School U.K. 98256
82 83 Brigham Young University: Marriott U.S.A. 97928
83 67 Ohio State University: Fisher U.S.A. 97750
84 87 Vlerick Leuven Gent Management School Belgium 97677
85 89 Bradford School of Management/TiasNimbas Business School U.K. / Netherlands / Germany 96993
86 67 University of South Carolina: Moore U.S.A. 95672
87 74 Durham Business School U.K. 95662
88 80 Case Western Reserve University: Weatherhead U.S.A. 95500
89 83 University of Arizona: Eller U.S.A. 94357
90 89 Arizona State University: Carey U.S.A. 94290
91 73 Aston Business School U.K. 93717
92 93 Ipade Mexico 93620
93 52 University of Illinois at Urbana-Champaign U.S.A. 91435
94 97 EM Lyon Business School France 91122
95 64 University of Iowa: Tippie U.S.A. 90845
96 75 Birmingham Business School U.K. 90161
97 95 McGill University: Desautels Canada 86627
98 54 York University: Schulich Canada 84182
99 82 University of British Columbia: Sauder Canada 83514
100 86 University of
Alberta
Canada 79383

MBA Job Salaries 2009 In United States and Canada

Within regions, there are substantial differences in salaries offered across industries. The chart below shows the salaries offered in different industries within the US and Canada. Salaries in the US are consistently slightly higher than those in Canada.

Consulting traditionally offers the highest salaries in the region and averages $97,000 in 2009. However, in the USA this year, it is the Government sector which reports the highest average salaries at $100,500. Telecoms reports an average of $95,000, Pharmaceuticals are reporting an average of $93,000. Financial Services and Energy are both reporting average salaries of $91,000. Details are shown below (Source: QS TopMBA.com International Recruiter Survey 2009):

Salary stagnation was a major concern for candidates this year as the gap between supply and demand widened. Recruiters have the bargaining power to determine how many jobs they will post and at what level they will set MBA starting salaries. However, employers surveyed stated that they planned to maintain salaries at 2008 levels.

Business Schools Are Changing the Application Process

The MBA application process is starting to change, with the GRE gaining ground on the GMAT, earlier deadlines, and some schools experimenting with audio and video.

Change is a dominant feature of business schools. Curricula change, new courses are added or dropped every year, professors come and go, and entire programs are born, evolve, or die. But until recently one thing that hasn’t changed much in many years is the application process: A paper application, set deadlines, interviews, and recommendations are still its component parts. Today, though, that process is beginning to undergo a transformation.

Some applications have become more inclusive by accepting GRE and IELTS scores, in addition to the more traditional GMAT and TOEFL scores. Some schools have made their first-round deadlines earlier, so they could provide decisions to applicants in mid-December and keep up with a quicker-paced world. The most compelling change, however, is the inclusion of video or audio components as a way to see the real applicant and his or her creativity.

This evolution is a solution to two problems facing admissions committees: an antiquated admissions process that is out of touch with the lives of applicants and overly packaged applications that lack substance, the result of coaching and consulting run amok, say business school admissions committee directors.

At the Anderson School, the most recent applicants had the option of answering one essay question in audio form, and more than 70% did. The school is now giving students the choice of responding to one of the essay questions with an audio or video clip in the hope that such responses will be more revealing than written answers.

The possibilities of what the future MBA application will look like are endless. Perhaps there will come a day when admissions committee members and applicants see each other via satellite and talk through the essay questions, says Shores. Martinelli says she hopes for an application process that is closer to what the real world of business is like. She would like to see, for example, applicants working on a case as part of a team. Thinking about what it will be like to receive applications on an iPad or e-reader is interesting, Granada says.

Whatever the future holds for MBA applications, technology will play a part. “We think this is where the market is headed,” says Leila Pirnia, founder of MBA Podcaster in Los Angeles. “[These other media] make an applicant three-dimensional and could allow admissions committees to see if the applicant is a true leader.” If executed well, a video can give an applicant the edge. “A video brings the applicant to life,” she adds. “You don’t feel like you’re telling the full story when you write something on paper.”

Source: Business Week, by Francesca Di Meglio.

MBA Programs That Accept GRE Scores

According to ETS, the following business schools in United States and Canada accept GRE General Test scores for admission to their MBA programs:

  • Adams State College
  • Adelphi University
  • Alaska Pacific University
  • Alliant International University
  • Alvernia University
  • American Jewish University
  • Antioch University New England
  • Arcadia University
  • Augsburg College
  • Azusa Pacific University
  • Bainbridge Graduate Institute
  • Baldwin Wallace College
  • Barry University
  • Bay Path College
  • Belhaven College
  • Bob Jones University
  • Brandeis University
  • Brandman University
  • Brenau University
  • Brescia University
  • California Baptist University
  • California State University – Bakersfield
  • California State University – Chico
  • California State University – Stanislaus
  • Campbellsville University
  • Capital University
  • Capitol College
  • Christian Brothers University
  • City University of Seattle
  • Claremont Graduate University
  • Clark University
  • Clarkson University
  • Clemson University
  • Cleveland State University
  • College of Mount Saint Vincent
  • College of St. Scholastica
  • Colorado Christian University
  • Colorado State University – Ft Collins
  • Columbia University (EMBA Program)
  • Concordia University – Portland
  • Cumberland University
  • Dartmouth University
  • Delaware Valley College
  • DeVry University, Arizona
  • DeVry University, California
  • DeVry University, Colorado
  • DeVry University, Florida
  • DeVry University, Georgia
  • DeVry University, Illinois
  • DeVry University, Indiana
  • DeVry University, Maryland
  • DeVry University, Minnesota
  • DeVry University, Missouri
  • DeVry University, Nevada
  • DeVry University, New York
  • DeVry University, North Carolina
  • DeVry University, Oakbrook Terrace
  • DeVry University, Ohio
  • DeVry University, Oklahoma
  • DeVry University, Oregon
  • DeVry University, Pennsylvania
  • DeVry University, Texas
  • DeVry University, Virginia
  • DeVry University, Washington
  • DeVry University, Wisconsin
  • Dominican University of California
  • Drury University
  • Everglades University
  • Fairmont State University
  • Ferris State University
  • Fitchburg State College
  • Florida Atlantic University
  • Florida Institute of Technology
  • Florida International University
  • Florida Southern College
  • Fort Hays State University
  • Fresno Pacific University
  • Frostburg State University
  • Gardener-Webb University
  • Geneva College
  • Georgetown University (EMBA program)
  • Georgia College and State University
  • Georgia Southern University
  • Georgia Southwestern State University
  • Goldey Beacom College
  • Harvard Business School
  • Hofstra University
  • Humboldt State University
  • Illinois State University
  • Indiana Institute of Technology
  • Indiana University of Pennsylvania
  • Jacksonville University
  • John Brown University
  • Johns Hopkins University
  • Johnson & Wales University
  • Kansas Wesleyan University
  • Keiser University
  • Kutztown University of Pennsylvania
  • Laboratory Institute of Merchandising
  • La Sierra University
  • Lincoln University Oakland
  • Loma Linda University
  • Louisiana State University Shreveport
  • Maharishi University of Management
  • Malone College
  • Massachusetts Institute of Technology
  • Medaille College
  • Mercyhurst College
  • Mesa State College
  • Misericordia University
  • Missouri Southern State University
  • Missouri State University
  • Missouri University of Science and Technology
  • Monmouth University
  • Morehead State University
  • Morgan State University
  • Mount Mary College
  • Mount St. Mary’s College
  • Murray State University
  • National University – California
  • Naval Postgraduate School
  • New York University
  • Northern Kentucky University
  • North Park University
  • Northwest Christian College
  • Northwest Missouri State University
  • Northwood University
  • Nova Southeastern University
  • Oakland City University
  • Oklahoma Christian University
  • Oklahoma City University
  • Oral Roberts University
  • Oregon State University
  • Our Lady of the Lake University – San Antonio
  • Pacific Lutheran University
  • Pacific States University
  • Park University
  • Pepperdine University
  • Pfeiffer University
  • Piedmont College – Demorest
  • Point Park University
  • Purdue University – Main Campus (Part-time MBA)
  • Regent University
  • Reinhardt College
  • Rensselaer Polytechnic Institute
  • Rice University (EMBA Program)
  • Rochester Institute of Technology
  • Rollins College
  • Rowan University – Glassboro
  • Rutgers University – New Brunswick (EMBA Program)
  • Salve Regina University
  • Savannah State University
  • Shenandoah University
  • Sonoma State University (EMBA Program)
  • Southern Illinois University Carbondale
  • Southern Utah University
  • Southern Wesleyan University
  • Southwest Minnesota State University
  • Southwestern Adventist University
  • St. Ambrose University
  • St. Bonaventure University
  • St. Edwards University
  • St. Peters College
  • St. Thomas University
  • Stanford University
  • Stevens Institute of Technology
  • Strayer Education, Inc.
  • Sul Ross State University
  • SUNY at Stony Brook
  • SUNY Institute of Technology
  • SUNY New Paltz
  • Tarleton State University – Stephenville
  • Texas A&M College Station
  • Texas A&M International University
  • Texas A&M University – Commerce
  • Troy University – Atlanta
  • Troy University – Troy
  • Troy University – Atlantic Region
  • Troy University – Dothan
  • Troy University – Montgomery
  • Troy University – Phenix City
  • University of Alabama at Tuscaloosa
  • University of Alabama at Birmingham
  • University of Alaska at Fairbanks
  • University of Arkansas – Fayetteville
  • University of California Riverside
  • University of Central Florida
  • University of Colorado at Colorado Springs
  • University of Colorado at Denver
  • University of Dallas
  • University of Denver
  • University of Evansville (EMBA Program)
  • University of Findlay
  • University of Houston – Victoria
  • University of Louisiana – Monroe
  • University of Louisville
  • University of Massachusetts Amherst (Part-Time MBA)
  • University of Memphis
  • University of New Mexico
  • University of North Alabama
  • University of North Carolina – Greensboro
  • University of North Carolina Wilmington
  • University of North Dakota
  • University of North Texas
  • University of Oregon (EMBA Program)
  • University of Pennsylvania, Wharton School (for applications beginning in fall 2010)
  • University of Redlands – Burbank
  • University of Redlands – Orange County
  • University of Redlands – Rancho Cucamonga
  • University of Redlands – Redlands
  • University of Redlands – Riverside
  • University of Redlands – San Diego
  • University of Redlands – Temecula
  • University of Redlands – Torrance
  • University of Rhode Island
  • University of South Carolina
  • University of South Florida – Sarasota
  • University of Southern Maine
  • University of Tampa
  • University of Texas at Austin
  • University of Texas at Brownsville
  • University of Texas at Dallas (Part-time MBA)
  • University of Texas at San Antonio
  • University of the Incarnate Word
  • University of Utah (Professional MBA and EMBA Programs)
  • University of Vermont
  • University of Virginia
  • University of Washington – Bothell
  • University of Washington Tacoma
  • University of West Florida
  • University of Wisconsin – Eau Claire
  • University of Wisconsin – La Crosse
  • University of Wisconsin – Oshkosh
  • University of Wyoming
  • Upper Iowa University
  • Utah State University
  • Utah Valley University
  • Valdosta State University
  • Wake Forest University
  • Washington University in St. Louis
  • Wayland Baptist University
  • Webster University
  • Wesleyan College – Georgia
  • West Texas A&M University
  • Western New England College
  • Whitworth University
  • Widener University
  • Willamette University
  • Wingate University
  • Yale University
  • York College of Pennsylvania
  • Concordia University
  • Lakehead University
  • Queen’s School of Business
  • St. Mary’s University
  • University of Calgary
  • Univ of New Brunswick – Saint John
  • University of Toronto (EMBA Program starting Fall 2010)