Best B-Schools for Getting a Job

by John A. Byrne on Print Print

You’d never guess which U.S. business school was most successful at placing its graduates into jobs by the time they wore their caps and gowns to commencement last year. If what pops into your mind is Harvard, Stanford, Chicago or Columbia, forget it.

How about the University of Arkansas’ Walton School of Business? Last year, 82.6% of Walton’s graduating MBAs landed jobs, the highest placement rate of any business school in the U.S. Equally surprising is who came in second? Pace University’s Lubin School of Business in New York.

Of course, the last couple of years have been difficult ones for the Career Service staffs at business schools who help to match graduating students with job offers. The severe recession that hit two years ago wrecked havoc with MBA job placement. Even though the market improved for the Class of 2010, it was still no walk in the park. So how did Walton in Fayetteville, Arkansas, of all places, manage to get jobs for more than eight of ten of its MBAs by graduation?

Truth is, as a Walton spokesperson points out, the school only graduates 30 to 35 MBAs a year. So placing them into jobs may be a lot easier than it is finding jobs for the 910 graduates at Harvard or the 650 or so at Northwestern’s Kellogg School. And you also can’t ignore the much higher pay. At Arkansas, starting pay totalled $64,993, compared to Harvard’s $131,759. As it turns out, three months after commencement, grads at the elite schools more than catch up. At Stanford, for example, 92.4% landed jobs, compared to Arkansas’ 87%.

So if you put Arkansas and Pace aside as anomalies, the list of schools that did the best job of getting jobs for their graduates becomes much more familiar. Of the highly ranked, prestige schools, Dartmouth College’s Tuck School of Business comes in first with an 80% placement rate by graduation. Harvard Business School is not far behind with 78.6%. Among the other top elites are Chicago’s Booth and Stanford (both at 75.8%), MIT Sloan (75.6%), and Northwestern University’s Kellogg School of Management (75.2%).

First, some advice on how to both read and interpret these numbers. Getting MBAs placed into last year’s job market was no cake walk. Only four U.S. schools in the top 25–Dartmouth, Washington University, Stanford and Harvard–were even able to get  90% or more of their graduates into jobs three months after graduation.

And even then, some grads accepted jobs they didn’t exactly prefer or want–but because there the “dream job” was unavailable, they had sign up for something to get a paycheck. Obviously, these numbers don’t reflect that dynamic.

Neither do they reflect the much smaller percentage of grads at each school who may hold out for something better, regardless of the job market. They have a job offer or two, but refuse to bite. Perhaps, they may be lucky enough to have a mom or dad who can finance a longer job search. So the fact that they’re unemployed–even three months after graduation–may be less a reflection on the school than it is on their determination to only accept a job they really want.

Most business schools are now only weeks away from graduating the Class of 2011 and all indications are that the market for MBAs is almost back to normal. So all these numbers should show significant improvement this year, particularly for MBAs with jobs at graduation.

School Employment at Graduation Employment 3 Months Later Average Salary & Bonus
1. Arkansas (Walton) 82.6% 87.0% $64,993
2. Pace University 80.3% 85.9% $69,600
3. Dartmouth (Tuck) 80.0% 93.3% $128,013
4. Harvard Business School 78.6% 90.1% $131,759
5. Howard University 76.3% 89.5% $92,105
6. Chicago (Booth) 75.8% 88.6% $126,779
6. Stanford 75.8% 92.4% $131,949
8. MIT (Sloan) 75.6% 88.9% $125,905
9. Northwestern (Kellogg) 75.2% 86.5% $123,996
10. University of Cincinnati 75.0% 92.9% $62,484
10. Tulane (Freeman) 75.0% 93.3% $78,443
12. Iowa State 74.1% 96.3% $60,530
13. New York (Stern) 73.7% 86.4% $121,867
14. UPenn (Wharton) 72.5% 84.2% $132,579
15. Abilene Christian 71.4% 97.1% $46,600
16. Indiana (Kelley) 70.1% 83.8% $101,206
17. Carnegie Mellon (Tepper) 69.7% 88.9% $106,066
18. Virginia (Darden) 69.0% 82.7% $119,278
19. Worcester Polytechnic 68.4% 76.3% $77,100
19. Iowa (Tippie) 68.4% 94.7% $92,802
19. Boston University 68.4% 86.0% $90,157
22. Oklahoma State (Spears) 67.7% 96.8% $53,330
22. Georgia Institute of Tech 67.7% 95.2% $92,282
24. California-Davis 67.4% 93.0% $96,295
25. Columbia Business School 67.2% 89.6% $123,486
26. Cornell (Johnson) 66.8% 85.9% $112,039
27. Boston College (Carroll) 66.7% 88.5% $91,282
28. California-Berkeley (Haas) 64.9% 87.0% $120,164
29. Texas-Austin (McCombs) 64.8% 89.7% $108,886
30. Rutgers 64.6% 87.5% $84,827

Source: Data reported by business schools to U.S. News & World Report for the Class of 2010.


  • Kim

    I’m having this argument right now with someone who already has a job at one of the largest healthcare institutions in the country and is getting his MBA paid for at Wash U. Somehow this doesn’t or shouldn’t count in the stats.

    That makes these numbers skewed. I would say whoever mentioned people already having jobs and their employer paying for their continuing education and them having jobs when they get out makes a big difference especially for some of the more elite schools.

    When you have someone (note most of) who is looking to improve his or her lot in life and has to choose a school they may have to pay for, especially in this climate these stats may not be telling them the whole story.

    No matter what somebody should reach for the stars. Today I espouse uprooting family to go to school to follow the money and be where the jobs are. There is no point in wasting your time. If a state has low unemployment it’s going to be tough. Even if you have an MBA from Harvard, are you going to take a job where there are no jobs? You’ll have a pick of places of where you want to go and it should be someplace where overall commerce may be booming or your industry is so if you do lose your job or want another or want to move up, that industry is right there. Then again, with a great MBA it wouldn’t matter. You could always move anywhere assuming you are a good candidate as well.

    Do tell what are the reputations of the people who come out of those schools. While Harvard may be one of the top ones, they don’t rank high for character.

  • paras

    why top 5 mba schools do not have 100% placement…??….does every student get offer??…whats the average offer per student in top b schools?

  • Venki

    Rutgers has a great value and a great location, only competition for it is from Columbia and NYU bschools. NJ is one of the richest states in US along with CT a lot of small to mid size private/public firms which hire from best school in NJ Rutgers. I heard there is a new dean for the business school with a new second campus coming up. Also if you are also looking for pharma speciality NJ is the place to be Rutgers is where all the big pharma hires from.

  • Raj

    John,thanks for the list. If you can post international student placement stats for top b schools,it will be great.

    I am an international student,so while applying for schools,I am also looking at this important factor since US Work Authorization is hard to come by in these times.


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