The history of business school ranking is a very important tool to measure the quality of education that top business schools around the country provides. This is because every several years, business schools around the country have to improve their curriculum, change deans, and provide new experiences for their students. The recruitment of their graduates can also bet taken into consideration because this can have a big impact on the future of its graduates.
For this reason, it is important to know the historical business school rankings for students to make a good academic choice. But how exactly, are the rankings of business schools determined? Well, the Census uses proven methodology to have an accurate ranking. Among the things it considers are:
• The published rankings – this is a very reliable source of information because it derives its ratings from numerous sources such as the Business Week, the Wall Street Journal, the Financial Times, the U.S. News, the Business Education Commission, and the Carrter Report. Take note that the aggregate rankings that are published by the institution comprise around fifty percent of the total score.
• Selectivity – this is the measurement of the college admission which is how the business schools accept their students. Selectivity is also founded on the percentage of all applicants that are admitted (40%), their GMAT scores (35%), and their GPA (25%). The composite selectivity of the school will comprise around 25% of the total score.
• Salary – the salary range of their graduates also measures the quality of education provided by the school. Around 10% of the total score comes from the graduate’s salary.
• Placement – this is the success rate of the school’s placement of its graduates. People will know whether graduates from the school will actually have a good job when they join the workforce. Placement comprises 10% of the total score as well.
• Yield – reflection of the percentage of admitted students who pay tuition and other fees to the school. Yield compromise 5% of the overall score.
The business school ranking can differ from year to year as some schools make drastic improvements while some remain at their current level. It is important to have a valid historical business school ranking to determine which schools are consistent in the quality of education they provide. This will enable recruiters as well as the students make the right choice with regards to their career. In conducting the rankings, it is also essential to get some facts from business school graduates as well as their opinions.
Most of the time, graduates are asked to answer questions which range from the teaching quality of their schools to the career services that their schools have provided them. From this data, researchers can gather enough information about the schools and know the relevancy of their answers.
The top schools that are consistently at the top 10 include the Wharton School, Harvard Business School, University of Chicago Graduate School of Business, Stanford Business School, Kellogg School of Management, MIT Sloan School of Management, Columbia Business School, University of Michigan Business School, Tuck School of Business, ad the Anderson School. Other notable business schools around the country include the Carnegie Mellon Graduate School of Industrial Administration, Hass School of Business, Darden Graduate School of Business, Johnson Graduate School of Management, and the Fuqua School of Business.