2013 The Economist’s MBA Ranking

STRANGE RESULTS ARE COMMON TO THE ECONOMIST SURVEY

The odd results raise meaningful credibility issues with the methodology and the accuracy of the data some of these schools are providing to The Economist. Because 80% of the ranking is based on unaudited information from business schools, there’s a possibility that some data has been fudged. The Economist also throws into its ranking formula criteria that has little to do with the quality of education, such as the percentages of international and female students (giving these two questions alone nearly a 17% of the weight in the ranking), the range of overseas exchange programs (a 6.25% weight), and the number of languages offered (also given a 6.25% weight). That latter would be something more appropriate to undergraduate education.

Ultimately, the methodology produces some very strange, roller-coaster like results–and some blistering criticism from readers. Typical comments:

“This does not pass the Smell Test.”

“These numbers are pure science fiction, unbelievable.”

“This ranking has zero credibility. The Economist should go back to what it’s good at and quit spreading misleading information.”

FOURTH NUMBER ONE WIN FOR CHICAGO IN THE ECONOMIST SURVEY

Still, Chicago’s repeat will give the school even greater authority and also reflects poorly on Wharton, which received a good deal of criticism in a recent  Wall Street Journal article. “Chicago’s career-placement statistics are particularly impressive, with graduates getting jobs in a wide range of industries and earning an average basic salary of $115,000, a 66% increase on their pre-MBA salary,” said Bill Ridgers, The Economist’s business education editor. “Students, meanwhile, give stellar marks for the education they receive, the quality of their classmates and the school’s careers service.”

This is the fourth time Chicago Booth has won The Economist’s blessing as the world’s best business school, more than any other school. The school was ranked No. 1 last year, in 2010 and in 2007. Northwestern University’s Kellogg School of Management has made the top three times, along with IESE Business School of Spain. Dartmouth Tuck was named No. 1 once as was IMD in Lausanne, Switzerland.

Given the Forbes release this week, The Economist appears to have rushed out its new list. The magazine, which ranks 100 schools worldwide, initially published its list of the top 25 schools with a three-paragraph story that will appear in the next issue which hits the newsstand on Oct. 12. It took a couple of extra hours for its full 100 school ranking to get online and even then the profiles accompanying the ranking were incomplete.

(See top 25 schools on the following page)

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