For the sixth time in the past seven years, The Economist ranked the University of Chicago Booth School of Business as the top M.B.A. program in the world.
The London-based weekly publication released their rankings in late October as part of its annual school rankings. The rankings are based on a mix of hard statistics, including alumni salary and entrance exam scores, and subjective factors, including personal development and networking opportunities as understood through personal accounts from current students and alumni at each institution. The Economist’s M.B.A. rankings are unique in that they are “heavily weighted toward career outcomes,” Booth’s Deputy Dean for M.B.A. Programs Stacey Kole said.
According to The Economist, individuals “praise [Booth’s] world-class facilities and faculty, which includes several Nobel laureates. Job opportunities are among the best, thanks to a highly rated careers service and an alumni network of 52,500 people, one of the largest in the world. Employment outcomes are outstanding: 97 percent of students find a job within three months of graduation. Graduates pocket an average salary of $129,400, a 67 percent rise on their pre-M.B.A. pay cheques.”
Booth’s ranking by The Economist is consistent with other major rankings. In U.S. News and World Report rankings, UChicago Booth is tied for first with Harvard Business School. The University’s College rankings have also come out on top in recent years. UChicago is currently tied for third with Columbia University, Massachusetts Institute of Technology, and Yale University on U.S. News, following Princeton University and Harvard University which are ranked first and second, respectively.
Douglas Skinner, deputy dean for Booth’s faculty, said, “While we don’t like to place too much importance on rankings (they are at best imperfect measures of what we want to achieve), as Booth we are confident we are one of the best B-schools in the world, and are pleased to be recognized as such.”
Founded in 1898, Booth currently has eight Nobel laureates on faculty, the highest number of any business school. The University as a whole boasts 30 Nobel laureates in economics, the most recent one awarded in October. Booth currently has campuses in Chicago, London, and Singapore.