ARINGO’s take on MBA Rankings and US News 2024 MBA Rankings

The recent release of the US News MBA ranking for 2024 has caused quite a stir in the business education community. The ranking, which is highly regarded, is eagerly anticipated by aspiring business students, current MBA candidates, and business schools themselves. This year’s top-ranked business school is the University of Chicago-Booth, which has managed to maintain its position from last year. The second spot is taken by Northwestern University- Kellogg and the 3rd by the University of Pennsylvania- Wharton. Interestingly, the top two business schools are located in the state of Illinois. The biggest surprise is Columbia Business School which has dropped out of the top 10 and is now ranked 11.

The US News MBA ranking is based on several factors, and there has been a significant revamp in their methodology this year. The ranking parameters chosen were focused on ‘outcomes’ such as employment rate, starting salaries, and bonuses. These factors accounted for 50% of the ranking. As education costs soar, the emphasis is more on the outcome measure than reputation. The US News realizes that employment and earnings drive why many individuals seek business education and MBA programs.

Chicago Booth has done exceptionally well, considering that it managed to be the top business school despite a change in ranking methodology. The rankings seem to increasingly favor programs with strong stats (selectivity), a quality reputation, and excellent career placements. However, schools like Harvard Business School and Stanford Graduate School of Business, where a greater percentage of the graduating class seeks entrepreneurial and/or non-traditional opportunities, often without the large salaries associated with more traditional post-MBA paths, could not make it into the top 3 positions.

Other notable schools in the top 10 include MIT Sloan at rank 4th and the Harvard School of Business at 5th position. The 6th spot is shared by the Stanford Graduate School of Business and The Tuck School of Business at Dartmouth College, while in the 8th position, we have a tie between The Yale School of Management at Yale University and the University of Michigan- Ross School of Business. New York University- Stern School of Business managed to get into the top 10.

Some significant gains in this year’s rankings are Dartmouth Tuck (jumped from 11th to 6th), USC Marshall (19th to 15th), and Emory University (from 21st to 17th). However, some schools that showed a decline are Stanford Business School, Berkeley Haas, Columbia Business School, and UNC Kenan-Flagler, all dropped by three spots each. Wharton, Tepper School of Business, UCLA, UT Austin, and McDonough Georgetown University were dropped by two spots each.

While the US News MBA ranking is highly respected and widely cited, it is important to remember that rankings are not the only factor to consider when choosing a business school. Other important factors include program fit, location, cost, and culture. Prospective students should do their research and visit schools to get a sense of the program and community before making a decision. While the top-ranked schools have not changed significantly, there are always shifts in the rankings and changes in the factors that influence them. Every year ARINGO helps 100s of candidates to get into these top business schools and many with substantial scholarships. Contact our experts for a free profile evaluation: https://aringo.com/mba-process-registration/

Here is the list of the top 25 schools: