Indeed, there are various rankings that you may make use of in order to get to know what business school will be most suitable for you. Yet, one of the most influential rankings of best MBA programs is the Global MBA Ranking, compiled by the Financial Times, and we will make use of it while writing this article. The ranking of the Financial Times is perhaps the most relevant and thorough, as it allows to assess whether a specific MBA program is worth it by a number of indicators, such as a salary three years after the graduation, salary increase, career progress rank, value for money rank, employment three months after the graduation, and other. Indeed, the rankings and data below are relevant solely to 2016, yet they will always serve as a reference point to what MBA programs are worth your attention. Get to know about the best MBA programs right below.
- INSEAD (France/Singapore). INSEAD, a Paris-based business school, offers a top-notch MBA program with a share of international lecturers and students not far from 100% (93% and 95% respectively). A weighted salary, which is the average salary of an alumnus three after being graduated, is $166,510, thus a salary increase (in comparison to how it was before applying for an MBA) is 96%. Yet, the value for money indicator is just 10, which is far below the average level of other schools presented in this ranking. The rank of career progress (the percentage of alumni who advanced to more senior posts after receiving an MBA diploma) is, however, pretty high: 25%. 83% of the alumni were able to find a job three months after their graduation.
- Harvard Business School. One of the most influential business magazines in the world, Harvard Business Review, is published exactly by this educational institution, and not surprisingly it stands on the second place of the list. A weighted salary for one of the best universities of the United States amounts to $172,501, thus beating even INSEAD. The salary percentage increase, however, is slightly lower: 94%. Yet, it is sure that you get a great value by studying at Harvard, since the business school can boast a fairly high value for money rank: 82. Even though the career progress rank is specified as just 7, the number of employed within three months after the graduation stands at a whopping 91%.
- London Business School. Even thought this business school leads in many rankings, the LBS is on the third place in the FT ranking, yet it is a quite decent position too. The indicator of weighted salary is noticeably lower, being equal to $154,150. After receiving an MBA from the LBS, however, the average price of alumni has doubled – the salary percentage increase is 100. Therefore, the LBS does not lag far behind Harvard with 72 value for money rank. The career and employment indicators are a bit better than those of Harvard too: 9 and 93 respectively.
- University of Pennsylvania: Wharton. If you apply for the MBA program offered by this university, you may expect a steep rise of your salary upon the course completion. Do not be surprised that the indicator of weighted salary is equal to $177,877 (and the expected salary rise amounts to 84%), which is noticeably higher than the same indicator of the universities listed above. Considering this, it will not be something extraordinary that Wharton’s value for money rank is 95, thus lagging only behind MIT’s Sloan (see below). Both indicators of the career progress and employment within three months are fairly high: 16% and 94% respectively.
- Stanford Graduate School of Business. Stanford is another leading American university, and, according to the data of the Financial Times, it appears to be the university with the highest weighted salary: $185,939. It is, therefore, not surprising that the indicators of salary percentage increase and value for money rank are as high as 87 and 83 per cent accordingly. There is one noticeable drawback, however: the career progress rank is extremely low and stands at the level of 3. Among the universities listed above, Stanford beats only INSEAS in terms of employment three months after the graduation.
- Columbia Business School. This business school offers a perfect MBA program for those people who want to boost their career and salary. At least, the data of the FT narrate this kind of story. With the level of weighted salary at $169,866, the CBS can brag about 99 and 92 per cent of salary increase and value for money rank respectively. At the same time, the indicator of career progress is at one of the best level among other universities included in this list, being equal to 22. At the same time, the indicator of employment within three months amounts to 92 per cent.
- University of California at Berkeley: Haas. Even though the Financial Times points out that the value for money rank for Haas School of business is 69 – a pretty average indicator, the salary percentage increase stands at the level of 93%. Indeed, the indicator of weighted salary is almost equal to the one of Columbia Business School: $169,395. Yet, pay attention to the fact that the career progress rank at this university, which is currently at the level of 34, is one of the highest among the top-20 universities. This means that the MBA diploma from this business school is pretty well valued by employers. Similar to Wharton, the indicator of employment within three months is 94.
- University of Chicago: Booth. Even though the weighted salary at this university is noticeably lower than at others, being equal to $158,259, Booth Business School deservedly occupies the place in this list. In the terms of career progress, it beats even Has School of Business, having this indicator equal to 39. Moreover, the indicators of salary percentage increase and value for money rank are fairly high too: 107 and 84 per cent accordingly. After all, 95% of alumni receive job offers three months after their graduation from the MBA program. Indeed, if you want to get the maximum of efficiency from your MBA, Booth Business School is one of the first places to consider.
- MIT Sloan School of Management. Indeed, you can expect only education of a highest quality from the best university of the world (according to the latest rankings), and MIT will not let you down. Its Sloan School of Management features the best value for money rank, which is as high as 96. At the same time, the indicators of weighted salary and salary percentage increase are at the level of $159,909 and 90 per cent respectively. Career progress rank, however, is not the highest one: just 11, which is, nevertheless, still higher than the one of Harvard, Stanford, and LBS.
- Cambridge Judge Business School. The business school of Cambridge invaded the top-10 list of the best MBA programs for the first time: previous several years it was on the 13th Even though the indicator of weighted salary is noticeably lower than the ones of its rivals listed above ($156.323), the salary increase indicator is specified as 95. Though, other several indicators remain pretty low, namely the career progress rank with a figure of 6 and the value for money rank with a figure of 4. However, the Judge Business School can brag about a pretty high indicator of employment within three months: 89 per cent.
Despite not occupying the first places of the ranking of the best MBA programs, MIT makes the best value for money offer to its students
The MBA programs, offered by the world’s top universities, listed above are, indeed, the best ones that you can find. Yet, it would be right to provide another ten programs that are included in the world’s top 20. This will allow you to get an idea what the best MBA programs are and how to find the most suitable one. Links to the websites are provided.
- Kellogg School of Management of Northwestern University (the US)
- IE Business School (Spain)
- IMD Business School (Switzerland)
- HKUST Business School (China)
- HEC Paris (France)
- Iese Business School (Spain)
- China Europe International Business School (CEIBS; China)
- Yale School of Management (the US)
- New York University: Stern
- University of Michigan: Ross
Indeed, there are also decent, high-quality MBA programs that are not included in this list. For instance, you may visit the pages of the Best MBA Programs in Germany, Best MBA Programs in Mexico, and Best MBA Programs in India, which you can find on this website. Moreover, you are able to make the cost of studying an MBA significantly lower and the schedule of studying far more flexible by applying for an online MBA program: in order to get to know more about it, visit this page.
Even though the Financial Times are a credible source of information, you should check how the business school you have chosen is doing in other rankings prior to applying for an MBA. Such an attitude will let you avoid a lot of headache and disappointments in the future.