Many MBA applicants look at rankings when searching for a high quality MBA course with a good reputation. But are MBA rankings reliable? And do they really matter? Decide for yourself by asking these 8 questions:
1. What Is Being Ranked? Is this an MBA ranking or b-school ranking list?
2: What Is Being Measured? Rankings don't use all the same criteria when ranking courses/b-schools. What are the criteria they're using? How useful are these to you?
3. Methodology and Data? The methodology is often ignored by applicants but it's important you that you look at, not only what is being measured, but also how much weight is being given to each element, how the data is collected, and who is involved.
4. Can Everyone Take Part? B-schools and MBA courses participate in ranking lists by invitation. And not everyone who's invited decides to take part. So if you can't find a b-school or MBA course on a ranking list - don't simply assume they didn't make the rank.
5. Do Rankings Matter? I wished I could say 'no', but in reality rankings can matter very much to some types of employers. And of course they matter hugely to many applicants as well. So ranking can determine who else will be on the same course as you. However, ranking alone will not tell you what type of experience you personally will have.
6. What Do the Numbers Mean? Ok, so see one MBA course / b-school ranked 10th and one ranked 20th. Is #10 really better than #20? In what sense? Maybe, #10 is just more efficient as submitting the right data for the ranking exercise. Importantly, what will the difference be for you in terms of choosing #10 over #20?
7. What Are the Ranking Trends? How come an MBA or b-school ranks in top 5 in one table, but may not
appear in the Top 10 or Top 20 in another? Or, they're featured one year but drop off
the list the next? Consider: A dramatic
change to the ranking position is almost impossible to be due to changes in the
quality of the MBA course or the b-school's.
It's more likely to be due changes to the ranking methodology or
criteria.
8. Is this a new B-schools or MBA Program? It's easier for more established b-schools or MBA courses to meet the requirements of some ranking tables. They'll meet criteria pertaining to the length time an MBA has been running, they will have alumni data - and they'll be more experienced at making their data submission for the ranking tables.
CONCLUSION
When choosing your MBA course, do look at MBA rankings as
they can matter. However, treat them
with some scepticism. Look behind the headlines, dig deeper into the methodology and criteria, look at year on year trends, read student and alumni profiles carefully - and above all, pick the option that makes most sense for you in terms of your objectives and future plans and aims.
If you have found this advice helpful and want to find out more, read my complete post here:
http://www.mesh-ed.com/mba-rankings-what-you-should-know/
I will also make sure to make a YouTube video on this soon, so feel free to subscribe to the channel.