MBA seekers,to get an edge in global business world, often travel abroad in search of the best management programs. The United Kingdom (UK) is well known for having one of the world’s most desirable and hottest MBA markets. On an year that saw it voting for exiting the European Union (EU)the country really dominated Bloomberg Businessweek Best International Business Schools Rankings 2016: London Business School grabbed No. 1 spot, while Cambridge and Oxford both ranked in the top five.
The British march was led by London Business School (LBS) that moved up one slot to occupy the first rank pushing out Ivey Business School of Western University, Canada to the 10th spot. INSEAD, third ranked in the previous year, moved to the second spot while the third rank went to Oxford Saïd that climbed 3 spots from its 6th rank.
IESE moved 2 spots from 7 to capture the 5th rank. However, its fellow Spanish school IE dropped 2 spots to the 6th rank. Switzerland’s IMD too saw a 2 spot drop to 7th rank. SDA Bocconi, however, climbed 4 spots from being ranked 12th in the previous year to the 8th spot this year.
Yet another British B-school, Cambridge Judge, moved up 4 spots to occupy the 4th rank. Imperial College, London was another to move up 5 spots to 15th rank from its previous year’s 20th rank. The best progress was achieved by Melbourne Business School that shot up 14 spots to rank 9th from its previous year’s ranking of 23.
Bloomberg Businessweek states that the rankings 2016 were based on data compiled from more than 1,000 recruiters, 15,000 alumni, and 9,000 recent graduates.
Over the years since its ranking, the methodology has shifted to focus on how well the schools prepare their graduates into good job through management programs. An MBA can get access to hot internships, sprawling alumni networks, and the most desirable jobs in the market. With a new survey of MBAs after graduation, offer more insight into what graduate can expect from their careers.
Ranking index score is the overall scores of Employer survey rank (35%), Alumni survey rank (30%), Student survey rank (15%), Salary rank (10%) and Job placement rank (10%).
The Employer Survey measures recruiter opinions on how well MBA programs equip their graduates with relevant skills. Recruiters from companies that hire MBAs were surveyed to assess how well MBA programs prepare the graduates to get the jobs they want.
For Employer Survey, schools to identify people recently involved in recruiting their MBAs. As many as 11,877 recruiters were invited to take the survey and 1,055 recruiters at more than 500 companies completed it. They were asked to identify up to 10 schools at which they had significant recruiting experience in the past five years. Then, they were to assess how well these schools’ graduates performed on specific qualities important to them when they recruit MBAs.
For alumni survey, responses were sought from all graduates of the classes of 2008, 2009, and 2010. Slightly more than 15,000 survey responses were received from alumni. To be included in the rankings, each school was required to have at least 30 students from its 2008-10 classes respond; larger programs were required to reach a threshold ranging from 10 to 25 percent.
Recent graduates were questioned for MBA program features, such as campus climate, effectiveness of career services, and responsiveness of faculty and administrators. From the graduate of 2016 class, 9332 graduate have responded the survey.
Job Placement Rate
88 percent of MBAs consider access to career services and employers a crucial part of the overall benefit of getting an MBA. Job placement rate is defined as the percentage of graduates out of all the graduates who sought it who secured full-time employment within three months of graduation.
Another key measure of a school’s success is how much compensation its newly minted graduates fetch in the labor market. Starting salaries of only graduates who accepted full-time employment within three months of graduation were included in the analysis.
Final Rankings 2016
For Full-Time International MBA Rankings 2016, scores for each of the five components were standardized using each score’s mean and standard deviation. Scores were then weighted and summed to reflect rankings model of 35 percent for the Employer Survey score, 30 percent for the Alumni Survey score, 15 percent for the Student Survey score, 10 percent for the Job Placement Rate score, and 10 percent for the Starting Salary score.
(Information Courtesy : Bloomberg Businessweek)