Three happy business graduates on road side

Why Ranking Is Important For Business Schools

January 26, 2017

Business schools in the US are much sought after by students both within the US and outside it. In fact, it is the dream of many students to join a good business school, because it could be a crucial factor for their long-term success. The biggest challenge that many students may face apart from the academic competition that they may have to through is the fees for the programs. To many aspiring students, the fees might be a rather big amount and is definitely not to be taken lightly. However, Harvard and Stanford have a reputation like no other when it comes to its global ranking as the top business schools in the globe and the quality of its education.

When it comes to ranking a business school, the business schools all across the globed is ranked every year by specialists in education who are known as QS or Quacquarelli Symonds. This ranking is crucial because it gives people an idea about which business school is the best on the basis of various parameters.

The ranking is done on the basis of
· surveys of employers,
· academics, and
· business school programs.

The MBA programs are evaluated on the basis of:
· employability,
· alumni outcomes,
· students’ return on investment,
· thought leadership, and
· diversity.

Ranking And Salaries Of Business School Graduates
While there are several business schools around the globe that provide various options when it comes to business studies for both professionals and for people who are into entrepreneurship, however, the ranking given by QS has a lot to say about the business school itself. The Business school that is ranked number one by QS is Stanford University in California, US. Stanford happens to number one in both the global ranking and that in the US. The course fees are roughly about $141,000 and is for a duration of 24 months. A person who has graduated out of Stanford will get a salary of about $140K to $149K business school getting the second rank is Harvard, where the normal post-graduate salary is something between $130K and $139K. The cost for these graduate management programs is relatively expensive, but it is guaranteed to help aspiration management executives in making wise management decisions. Several alumni of these B-schools have risen to some of the topmost leaders in the global market and carved a niche for themselves in the global scene. The business school to get the third rank according to QS is the University of Pennsylvania and students who pass out from here roughly get the same salary as those from Harvard. At number four is MIT, and number five is the University of Chicago. The salary that a person who passes out these universities get is between 20K and $129K. Thus it can be seen that the ranking of business schools around the world given by QS is an indication of the kind of success one could get in monetary terms after completing a management course in any of these highly ranked business schools. It clearly shows that ranking also decides on the kind of demand that each business school will have.