U.S. News Announces 2018 Business School Rankings
March 14, 2017
U.S. News announces its 2018 business school rankings, a Bollywood star goes for her MBA, and Chicago Booth gets a new dean. Here’s the latest in our roundup of business school news.
2018 business school rankings arrive
Tuesday was arguably the biggest day of the year when it comes to MBA admissions: It’ was the day U.S. News & World Report released its annual business school rankings. Without further ado, here is where America’s top MBA programs place:
1. Harvard Business School (tie)
1. The Wharton School of the University of Pennsylvania (tie)
3. The University of Chicago Booth School of Business
4. MIT Sloan School of Management (tie)
4. Northwestern University Kellogg School of Management (tie)
4. Stanford Graduate School of Business (tie)
Our take on business school rankings is this: The rankings, be it U.S. News’ or the many other business school rankings that come out, can serve as good aggregate sources of data around job placement stats, academic life, and other considerations, but ultimately each MBA applicant should enroll in a business school that is the best overall ‘fit’ for the individual’s professional, financial, and lifestyle goals and needs. (U.S. News & World Report)
Meet Richa Gangopadhyay. If you’re not a fan of Bollywood, you probably haven’t heard of her, but among fans, she’s a rising star with limitless opportunities. Born in New Delhi, young Gangopadhyay practiced original dance routines in her bedroom. Hopes to make it big seemed out of reach… until she won a beauty pageant, then opportunity after opportunity poured in. She made several movies and has around 600,000 Twitter followers. Seemingly at the top of her game, Gangopadhyay gave it up to attend Olin School of Business at Washington University, where she’ll graduate this spring.
“While I was on a shoot, I was constantly thinking about how to leverage new business opportunities for my next film, reviewing scripts and negotiating contracts,” Gangopadhyay says. “One thing I needed to keep a keen eye on was not being taken advantage of. These are all of the things that we are actually learning in business school. For me, in retrospect, it has been about learning by doing and validating it with an MBA degree.” (Poets & Quants)
New dean at Chicago Booth
Placing third in this year’s U.S. News business school rankings is University of Chicago’s Booth School of Management, which recently announced that its new dean will be Madhav Rajan, the former senior associate dean at Stanford Graduate School of Business.
“We sought the most outstanding candidate whose values, ambition and abilities fully comport with the distinctiveness of Chicago Booth as one of methodological rigor in its research and education, and through that commitment one of high impact on the world,” said Chicago’s President Robert J. Zimmer and Provost Daniel Diermeier.
“We have an exciting opportunity to take Booth’s deep strengths and leverage them here and around the world,” Rajan stated. “I am thrilled to have the chance to be dean at what is unquestionably the greatest academic business school.” His official first day will be July 1st. (UChicagoNews)
Roadblock for women in business
A new study by the Graduate Management Admissions Council, which writes the GMAT and also publishes really interesting research about the MBA landscape, has found that a major reason why the percentage of women enrolled in business school lags behind that of men may come down to cost. According to the survey, among U.S. applicants, 38% of women cited financial reasons for why they have not enrolled, compared with just 20% of male respondents.
The true cost of an MBA is higher for women than for men, because women have a lower ROI from their MBAs. This is true for even the most elite business schools, for individual employers, and across all businesses. Within five years out of business school, the pay gap ranges from 20% to 40% lower for women. (Bloomberg)
“Business schools should actively support diversity and inclusion,” commented Aarti Ramaswami, academic director of ESSEC Business School’s full-time MBA program, which is located just northwest of Paris. “They should have strong female role models leading the programs, and continue to nurture relationships with female alumni who might face career challenges.” (Business Because)
Planning for Test Day? Sign up for a free practice test and review to get a detailed analysis of your performance.