MBA rankings are generally referred to as the subjective appraisal of the quality of an MBA program or a business school offering MBA programs MBA . As an effective and conventional judging system, MBA ranking contributes to almost all leading business schools and business related programs.
In this ranking system, a number of criteria are used to find out the existing position of these business schools and their programs. It is based on the questionnaire answers and by comparing the different aspects of these MBA programs. The ranking list is put up each year. There are a number of agencies, including the US MBA rankings – FT, the US News and World Report, and the ComputerWorld’s Top 25 Techno MBAs, conducting this ranking process by evaluating part time and full time graduate business programs.
Some of the basic criteria for ranking full time MBA programs are the reputation based on the judgment and opinion of MBA graduates and recruiters; academics; GMAT (Graduate Management Admission Test) scores; quality assessments by the alumni; job placement rate; salary and bonus; rating of research; and academic reputation. The part time programs are ranked on the basis of nomination by the MBA program directors and business school deans. The minimum number of nomination required for ranking is seven. Although many of the schools do not agree on these ranking criteria used, a number of schools among them can be seen at the top of the rankings.
Ranking of the MBA programs or business schools acts as a review that assists a student to examine the reputation of an MBA program, acceptance rate, tuition fee, placement assistance, and employment rates. In the case of business schools, MBA rankings survey is a useful tool to determine their strengths and weaknesses. MBA rankings are always calculated in the form of numerical lists. The best school or programs is designated as #1, the second best is as #2, and so on.