Which MBA programs are really the best? Harvard Business School, the Stanford Graduate School of Business, and the University of Pennsylvania’s Wharton School? Or maybe UPenn Wharton, Columbia Business School (CBS), and the Tuck School of Business at Dartmouth College? What about Northwestern University’s Kellogg School of Management, the University of Chicago Booth School of Business, and the MIT Sloan School of Management? Duke University’s Fuqua School of Business? The Yale School of Management? The Haas School of Business at the University of California, Berkeley?
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We can totally understand why many candidates are confused by business school rankings. When people talk about the “top ten” programs, that list is invariably made up of some combination of the same 15 schools—all worth considering and generally worth applying to. Although they might be difficult to get into, if you do not apply at all, your chances of acceptance are zero, so you should go ahead and submit an application.
But then what? Do you stop looking at other MBA programs? Do you broaden your search to include schools outside the top 15? Should a program’s placement in the rankings be the only thing that matters when you are deciding which schools to target?
If you are focused on a very specific set of programs, you probably do not need to consult any of the rankings at all. But if your goal is simply to attend any business school—not a particular one—then the rankings could be helpful in informing your search. As you are researching programs and deciding which ones to target, here are a few key things to consider that might or might not align with a school’s placement in the rankings.
What You Want to Do After Graduating
If you have a clear sense of what you want to do in your post-graduate career, start by looking for programs whose graduates actually do those things. In this case, doing your research really counts and can be very revealing. Which school do you think sends the most graduates into marketing? Northwestern Kellogg, of course, right? Actually, that is not the case: of Kellogg’s 2024 graduating class, 22% entered marketing. To find the true top school for marketing, you need to look north by about 150 miles (and south in the rankings) to the University of Wisconsin School of Business. Historically, roughly one-third of the MBA graduates coming out of this Madison, WI (a lovely little city), program enter marketing roles, and with reported average starting salaries totaling more than $120,000, most of them are likely pretty happy.
Similar examples exist across a myriad of functions. If you want to be a product manager at Amazon, you probably cannot do better than the Foster School of Business at the University of Washington. Hoping to become a consultant at McKinsey & Company? Look into the University of Virginia’s Darden School. Have dreams of being an entrepreneur? Babson College could be your actual number one.
The Industry You Want to Join
Some MBA programs are known to be feeders into certain industries, and you might be surprised to discover exactly which schools can land you where. One great example is media and entertainment. Although some notable media companies (such as Disney and Viacom) do recruit on business school campuses, no one recruiting event can land you a job in this hot field. Instead, you need to concentrate on MBA programs that have deep, established relationships with firms in a particular industry, based on their location and a long history of connections. If media is your focus, you want to be in New York City or Los Angeles, so for business school, that means the UCLA Anderson School of Management, the New York University (NYU) Stern School of Business, and CBS should be your front-runners. But if you dig a little deeper, you will find other strong contenders, such as Chapman University’s Argyros School of Business and Economics and the Gabelli School of Business at Fordham University. These schools might not be ones that most candidates readily think of, but their graduates find themselves at the top of the media industry.
This same reality exists for other industries. A large portion of the class from Vanderbilt University’s Owen Graduate School of Management typically enters healthcare positions each year, primarily in the robust healthcare community in Nashville, TN. And the Jones Graduate School of Business at Rice University in Houston, TX, offers students a straight shot to roles in oil and gas. Thinking about a career in international business? You would have a difficult time finding a better place than Georgetown University’s McDonough School of Business in Washington, DC. For years, schools such as the University of North Carolina’s Kenan-Flagler Business School and Georgetown’s McDonough School of Business have been recognized as leading programs in real estate, consistently sending graduates into roles with top firms across the country.
Where You See Yourself in the Future
A big part of business school is building connections and developing a network for yourself, so you want to make sure from the start that the network you are creating is in your desired location. For example, if you want to live in St. Louis, MO, for the long term, then the Olin Business School at Washington University makes a lot more sense than Dartmouth Tuck, no matter what the rankings say. This factor is particularly important for international students, who will need a local network of alumni to support them throughout the rest of their careers. Notre Dame’s Mendoza College of Business and the University of Michigan’s Ross School of Business are known for having deeply committed alumni who have created an outstanding graduate network, but if no Ross or Mendoza graduates live where you expect to be, this does not particularly matter. So, use Google to learn where different schools have alumni clubs. If you plan to be in India, Duke Fuqua could be a good option; in China, you might want to become part of the network for the University of Southern California’s Marshall School of Business instead.
Whether You Would Consider a One-Year Program
While most European MBA programs are only one year in duration, U.S. business schools have been much slower in developing these shorter options. However, over the past few years, some top-ranked U.S. business schools have unveiled programs that not only demand less of a time commitment but are also much more focused. Both NYU Stern and the Johnson College of Business at Cornell University have a one-year Tech MBA, which is perfect for individuals who want to join a tech industry giant. Similarly, Northwestern Kellogg has partnered with the McCormick School of Engineering to become leaders in the tech space, focusing particularly on emerging technology and AI. And NYU Stern has a one-year Fashion & Luxury MBA intended to help students break into an industry that is notoriously difficult to enter.
Some other one-year MBA programs have a broader focus. CBS’s J-Term option begins in January and forgoes the summer internship, so that students graduate the following May. Similarly, Cornell Johnson has a one-year option for candidates who already have certain degrees or professional certifications or designations, such as the CPA. For the right candidates, one year might be long enough to achieve their desired outcome.
What Your Personal Preferences Are
Choosing a business school is not a scientific process. Despite all the data available about each program, you can never underestimate the human element. You might simply like one school better than another for all sorts of reasons, including industry focus, cohort of students, and maybe even issues tied to quality of life. A lot of boxes have to be checked for business school to be a successful experience. Take time to identify what those “other” boxes might be for yourself. Maybe you have a partner who will come with you and needs to have a job while you are enrolled, in which case, more remote schools such as Dartmouth Tuck and Cornell Johnson might not work so well. If you need to be near a major airport, Emory University’s Goizueta Business School in Atlanta, GA, is a great choice. If you have a young family who would benefit from a family-friendly location, consider the University of Minnesota’s Carlson School of Management in Minneapolis. Love to surf? Your search for the perfect program could start and end with Pepperdine University’s Graziadio Business School in Malibu, CA.
So, how important a role should rankings ultimately play in your school search? Rankings are a tool, not much more than that. Although they will influence your thinking, of course, do not let them dominate it. Remember that your end goal is not to attend the highest-ranked school you can but to take the best first step in the pursuit of your aspirations. Many MBA programs can help you do that—you just have to figure out which ones. Only then can you determine whether a ranking carries real meaning for you.
If you wonder which schools you would be competitive at or have questions about your application essays, sign up for a free 30-minute consultation with an mbaMission consultant.
