Chicago Booth School of Business (the interview of its dean was published on MBAUniver.com on November 21 -- http://www.mbauniverse.com/article/id/6444/Booth-School-dean-speaks%20his%20heart%20out) has emerged as the best US B-school as per the Bloomberg Businessweek 2012 Best Business Schools Ranking, while London Business School has bagged the top slot in the international schools category. The survey, conducted once in every two years, is considered one the most authentic global rankings.
Among the top 20 international B-schools, there is only one from Asia – Hong Kong University of Science and Technology. The study once again proves that despite tall talks, Asia figures lowly among global B-schools, while Indian B-schools will have to go a long way to find themselves into consideration.
As per the study, the top 10 US B-schools are -- Chicago Booth School of Business (1), Harvard (2), Pennsylvania [Wharton] (3), Stanford (5), Northwestern [Kellogg] (4), Duke [Fuqua] (6), Cornwell (13), Ross of Michigan (7), MIT (10) and Darden (11). The figures in bracket denote the ranking according to the previous survey carried out in 2010.
The first 10 international B-schools, according to the survey are – London Business School (5), INSEAD (1), IE Business School (3), Queen’s (2), Saiid – Oxford (13), ESADE (4), Western Ontario (6), IESE (12), IMD (7), and McGill (11).
The survey has put the maximum focus on students’ views and experience. The other criteria were admission, B-school experience and careers. The survey collected responses from more than 10,000 graduates of the MBA classes at 114 business schools worldwide, with an average of 58 per cent of the class responding at each school.
Admission: On an average, each aspirant applied to 3.7 programs, nearly the exact number (3.6) in 2010, the last time Bloomberg Businessweek ranked full-time MBA programs. Eighteen per cent of respondents applied to only one school; 2 per cent applied to 10 or more. When choosing which programs to apply to, the most important factor was quality of education, followed closely by rankings and successful job placement. Location and cost were nonfactors for most of the students.
B-School Experience: When asked about what makes their MBA program unique, students from nearly every school mentioned things like small class sizes, accessible faculty, and an intimate, collaborative community. These kinds of responses, experts believe, make schools that do offer truly unique experiences stand out even more.
Careers: Based on the student survey data, the MBA job in the US and other developed countries is looking up. As a whole, 82 per cent of respondents had received a job offer by graduation, up 6 per cent from 2010. Additionally, grads had an average of 1.7 job offers each, a 13 per cent increase. While much improved, the numbers still have not rebounded completely to pre-downturn levels, when MBAs received 2.2 job offers by graduation on an average.
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