MBA programs are undoubtedly one of the academic courses in the world. They increase, enhance and equip students with accurate, wondrous and relevant business skills and cognition. Through these skills, students become valuable assets and key players for their companies. However, getting into elite schools that offer MBA programs is not that simple. There are several ways of looking for these schools. Checking for schools in the popular MBA rankings publications is the most common and quickest ways of looking for schools that offer MBA programs. However, most of these publications use different criteria and ways for the rankings. This difference causes confusion and uncertainty among potential MBA students. To cater for this problem, it is advisable to compare recent rankings published by several sources such as World Report Rankings and Forbes.
Different Criteria
These publication sources have used slightly different methodologies for their business week MBA rankings. However, it is important to note that there are some key areas that have been taken into consideration by most of these sources. Some of these areas include: the school’s prestige, reputation and quality, the job guarantee of students (this also includes the job quality) after completing the programs, the scores of past students and the performance of the current students.
MBA programs
On the whole perspective, the business week MBA rankings view MBA programs as a high-level and ultra modern student training course. These programs effectively train the prospective students in the general business areas of marketing, management, finance, executive relationship building and capital markets. Most prestigious schools, as a strategy, have their MBA faculty located in most financial and marketing centers. This provides students with the necessary exposure and interaction to the environment, industry and cultures to most of these business centers.
MBA Rankings
The business week MBA rankings are released by reputable publications through their ranking surveys. According to the World Report MBA rankings for 2011 and US News and from position five to one, the following are the top MBA program schools: University of Pennsylvania, University of Chicago, Northwestern University, Massachusetts Institute of Technology, Stanford University and Harvard University. University of Chicago and University of Pennsylvania tied at position five. Stanford University, Dartmouth College, Harvard University, University of Chicago and University of Pennsylvania are the top MBA programs for 2010 released by Forbes.
Importance of MBA rankings
The business week MBA rankings plays a vital role for anyone applying for MBA programs. It helps people look for the best schools that provide excellent and high quality MBA courses. In addition to this, it enables people to get the prospectus of the MBA fees and duration of the course from most of these schools. Therefore, you are able to do some fee comparisons and budget for your overall academic expenses.
It is also important to consider the Graduate Management Admission Test (GMAT) result. This test plays crucial in MBA rankings. It is a test given to prospective students to assess their aptitudes on MBA programs. It generally focuses on the analytical, communicational and mathematical skills of the students.
