London Business School recaptured its number one standing in Poets&Quants’ 2012 ranking of the top 50 non-U.S. MBA programs, slipping ahead of last year’s best school INSEAD which fell into second place.
The two leaders in MBA education outside the U.S. were followed by No. 3 IESE Business School and No. 4 IE Business School, both in Spain, No. 5 IMD in Switzerland and No. 6 HEC Paris. IESE and HEC both gained two places this year.
London, for years neck-and-neck with INSEAD as the best business school outside the U.S., had been named the best non-U.S. school in Poets&Quants’ inaugural ranking in 2010, only to be nudged out of first place by INSEAD last year. The school, which is in the midst of a major expansion, is increasingly attracting better students and faculty and is launching a massive fundraising campaign to bring its resources more in line with some of the elite U.S. business schools.
11 NEW BUSINESS SCHOOLS MADE THE NEW POETS&QUANTS LIST
This year’s list–based on a composite of the four most influential rankings of global business schools–has 11 new entrants which range from No. 23 Mannheim Business School in Germany to No. 27 School of Business at the University of Hong Kong.
European business schools continue to dominate the list of the best non-U.S. MBA programs, with 14 of the top schools in the United Kingdom alone. But Canada makes a strong showing on the list with seven programs, including No. 9 York University’s Schulich School of Business, No. 11 Desautels Faculty of Management at McGill University, and No. 21 Sauder School of Business at the University of British Columbia. And Asia is slowly evolving into a powerhouse of business school education, with eight out of the 50 best MBA programs on the list led by No. 17 the Hong Kong University of Science and Technology (HKUST) and No. 18 China Europe International Business School.
WARWICK BUSINESS SCHOOL HAD THE BIGGEST GAINS OF ANY TOP 25 SCHOOL
Among the biggest winners on the 2012 list are the Warwick Business School in the U.K., which had the largest rise among the top 25, jumping 17 places to finish 16th from 33rd last year. The Rotterdam School of Management at Erasmus University rose ten places to place 19th, up from 29th in 2011. And HKUST moved up nine spots to rank 17th from 26th last year.
Who lost ground during this rankings year? The National University of Singapore’s business school fell six places, most among the top 25 schools, to 22nd place from 16th; Cambridge University’s Judge Business School, the Cranfield School of Management, and the Australian School of Business all fell five spots to 12th, 15th, and 25th, respectively.
This new P&Q list is a composite of four major MBA rankings published by The Financial Times, The Economist, Bloomberg BusinessWeek, and Forbes. All told, some 68 schools that appeared on one or more of those four lists were considered for the P&Q top 50. The Financial Times and The Economist publish global MBA rankings, with more complete listings of schools outside the U.S. BusinessWeek and Forbes, on the other hand, publish separates lists of the best international schools that are far more limited.
BusinessWeek only ranked 19 non-U.S. schools this year, while Forbes ranks a dozen two-year MBA programs outside the U.S. and a dozen one-year MBA programs. In contrast, the FT has 47 non-U.S. business schools on its 2012 list of the top 100 global schools, while The Economist has 52 of its top 100 global schools outside the U.S.
A WEALTH OF DATA IS REFLECTED IN THE OVERALL RANKINGS
The ranking takes into account a massive wealth of quantitative and qualitative data captured in these major lists, from surveys of corporate recruiters, MBA graduates, deans and faculty publication records to median GPA and GMAT scores of entering students as well as the latest salary and employment statistics of alumni.
Combining the four most influential rankings doesn’t eliminate the flaws in each system, but it does significantly diminish them. When an anomaly pops on one list due to either faulty survey technique or biased methodology, bringing all the data together tends to suppress it. So the composite index tones down the noise in each of these five surveys to get more directly at the real signal that is being sent.