November 21, 2008

Edging out Harvard, Booth School remains on top of Business Week ranking

The University of Chicago’s Booth School of Business retained Business Week’s top rank on its biennial rankings of the best graduate business schools.

Harvard Business School was ranked number two. Northwestern’s Kellogg School of Management was ranked number three, followed by the Wharton School of the University of Pennsylvania. The Kellogg School outranked the Booth School in a separate ranking system released by Crain’s Chicago Business three weeks ago.

Business Week did not provide commentary on the rankings but listed some facts about the schools, including how they accept applicants, what types of classes they offer, level of alumni donations, and the employment rates of graduates.

Booth dean Edward Snyder explained that he appreciates the feedback, but that they don’t affect the way he runs the school.

“Having noted these positives, we strenuously avoid confusing our identity with rankings,” he said. “So, it’s back to work.”

The University has been in the top 10 Business Week business schools since 1990.

Part of the rankings included surveys from anonymous alumni on their experiences at their alma mater.

“The University of Chicago’s MBA program forces you to question conventional thinking and arrive at fact-based answers. In today’s corporate world, those traits are essential,” one alumnus said.

The rankings follow a $300 million donation from David Booth (MBA. ’71), the largest gift in the University’s history and the single largest donation in the world to a graduate school of business. Booth, who runs an investment fund, cited the then–Graduate School of Business for his success, making special note of his high esteem for the faculty. He said that he hopes part of this gift will give the school the assets it needs to hire any professor they want by offering them attractive salaries.

One of the survey’s respondents echoed Booth’s sentiments.

“The quality of teachers is extremely high. Professors are setting trends, writing books, and researching—all the while being clear and accessible teachers,” the alumnus wrote.