Stanford Graduate School of Business holds on to win top honors for third consecutive year at Poets & Quantity‘ 2021-2022 ranking of the best MBA programs on the East Coast US Stanford rival Harvard Business School slumps to lowest level P&T ranking ever to fifth place from fourth last year. The University of Chicago’s Booth School of Business MBA program finished just behind Stanford in second place, with the Wharton School third, and Northwestern University’s Kellogg School of Management in fourth place.
In a tumultuous year for business school rankings, surprisingly little has changed among the top 25 MBA programs. Duke University’s Fuqua School of Business made the biggest gains, rising three places to 11th from 14 the previous year, while Cornell University’s Johnson Graduate School of Management slipped three places to 15th from 12 last year. Two schools dropped out of the Top 25: Emory University’s Goizueta School of Business and Georgia Tech’s Scheller College of Business. They were replaced by Rice University’s Jones Graduate School of Business No. 24 and Vanderbilt University Owen Graduate School of Management No. 25.
The top ten proved to be more stable. All the MBA programs that made the top ten last year are back, with more than half in the exact same place. No top ten business schools have moved more than one place in this year’s rankings, with Kellogg and Dartmouth Tuck climbing higher and Harvard and UC-Berkeley Haas slipping slightly (see our top ten below).
Top Ten US MBA Programs 2021-2022
|Rank & School||Change||Total cost||GMAT Average||Average GPA|
|1. Stanford GSB||—–||$239,928||737||3.80|
|2. Chicago (Both)||—–||$223,710||724||3.60|
|3. Pennsylvania (Wharton)||—–||R$230,928||722||3.60|
|4. Northwest (Kellogg)||+1||$223,316||730*||3.54|
|6. MIT (Sloan)||—–||$235,996||720*||3.54|
|8. Dartmouth (Tuck)||+1||$237,630||720||3.48|
|9. Berkeley (Haas)||-1||$221,190||727||3.65|
|10. Yale SOM||—–||$209,504||720||3.63|
Still, for the obsessives who closely follow the MBA rankings, 2021 is a truly odd year. The Economist released the 2020 rankings two and a half months in late early 2021 with every M7 business school and many other top MBA programs boycotting the list. Later, Stanford, Harvard, Wharton, MIT, and Columbia refused to participate in Financial time ranking. Bloomberg BusinessweekThe latest list has come under serious criticism from a well-known academic who accused the magazine of major methodological errors.
BIG CHANGES IN OUR MBA RANKING APPROACH TO THE ODD YEAR B-SCHOOL RANK
Newly updated list of both Forbes and The Economist, scheduled for this year, is not out yet. And if all that wasn’t enough, a dean of a top business school was found guilty of cheating on the rankings, further undermining the credibility of the much-consulted list.
So how do you navigate the business school landscape with all the noise in the picture? Forced turmoil Poets & Quantity to significantly adapt its methodology for its annual composite rankings to account for disruptions largely caused by the pandemic and schools using COVID as an excuse to withdraw from rankings. The result: For the first time in our 11-year history, we’re publishing this rating with a large asterisk attached.
The biggest change in our methodology this year is eliminating both Business Week and The Economist ranking from our composite list. We set aside Business Week ranking due to serious questions being asked about its credibility, while we continue The Economist list because 15 of the top 25 schools refused to cooperate and were therefore missing from the rankings. The boycott caused all sorts of distortions for the remaining programs. Such anomaly will only mislead candidates who want to apply to the best programs.
NINE NEW RECIPIENTS AMONG THE TOP 100 RANKED MBA PROGRAMS
While Financial time‘ last year’s list is also affected by the boycott, it’s not very broad. However, quite a number of elite MBA programs refuse to play, including the half a dozen schools that are usually in the top ten in the US Poets & Quantity decided to give the school credit for the previous year FT ranking and reduced the overall weight of the Financial Times to 10% from 15%. More loads added US News60% versus 35%, and Forbes30% of 25%.
The changes helped pave the way for nine new entrants to reach the rankings, all in the fourth quartile of the 100 ranking programs, along with the same number of dropouts. The newest MBA programs on this year’s list include St. University’s Chaifetz School of Business. Louis, whose MBA program is ranked the 77th best in the US, and the University of San Francisco School of Management which is ranked 88th.
In the past, combining the top five rankings tended to significantly reduce the odds payoff in a single rank. When an anomaly appears in a list due to the wrong survey technique or the wrong methodology, bringing all the data together tends to suppress the odd results in one ranking. So the composite index reduces noise in each of these five surveys to get more direct on the actual signal that is being transmitted. This is definitely less true in 2021 given all the turmoil in the rankings.
Nonetheless, Poets & Quantity the list remains more stable – and reliable than most rankings published elsewhere. Among the top 50 MBA programs, for example, only two experienced double-digit changes in their rankings year-over-year: Arizona State University’s WP Carey School of Business reversed last year’s ten-ranking drop, regaining all the places it lost with an increase of ten. place this year to rank 34th; Texas A&M also climbed ten places to finish in 35th.