The Economist’s annual ranking of full-time MBA programs is out, and the University of Chicago Booth School of Business has taken the top spot again, a position it’s held three of the last four years. Unlike the Forbes ranking released earlier this week, which ranks U.S. schools and international schools separately, the Economist compares MBA programs from around the globe. U.S. programs snagged the top four spots, and 16 of the top 25.
To compile its rankings, published for the 11th time this year, the Economist surveys MBA students about why they decided to pursue the degree and weights the data collected as follows: opening new career opportunities (35 percent), personal development/educational experience (35 percent); increasing salary (20 percent); and the potential to network (10 percent).
Chicago Booth has prevailed in the rankings in great part due to its strong career-placement statistics, the Economist reports. Its graduates are getting jobs in a wide range of industries and earning an average basic salary of $115,000, a 66 percent increase on their pre-MBA salary.
Spain’s IESE was the leading European school in this year’s ranking, climbing from ninth place last year to fifth place this year. Despite Spain’s struggling domestic economy, IESE has succeeded in placing many of its students in top jobs, mostly abroad, the Economist reports.
Other top movers in this year’s ranking include Australia’s University of Queensland Business School, which rose from 25th last year to 14th this year, and Hong Kong University, which shot up from No. 41 last year to No. 23 this year. The top-ranked Asian school, Hong Kong University was able to break into the top 25 this year thanks to improving salary statistics and high student satisfaction rates, according to the Economist.