Welcome to another MBA Myth Busters in which we review and disprove the popular myths surrounding graduate business education.
Myth: The higher a business school ranks, the better that school is for an applicant.
This is, of course, false.
This is not to say that MBA rankings are not useful. They are a valuable tool when it comes to business school selection, offering an objective view of quality based on factors such as student caliber, faculty expertise, peer assessment and employment outcomes. What the rankings are unable to account for is, of course, the personal element of school selection: your own goals and preferences.
A large part of this comes down to career goals and school suitability. Regardless of ranking, different business schools will be able to offer students different opportunities across industries. This is due to a range of factors such as location, faculty networks, industry connections, curriculum specializations, and more.
For example, business schools based a stone’s throw from tech-hub Silicon Valley—including Stanford GSB and Berkeley Haas—are uniquely positioned for graduates pursuing roles in the technology industry. Conversely, Columbia Business School and NYU Stern, with their New York locations and Wall Street connections, have a favorable location for the finance industry. An applicant dreaming of a career in tech, then, may be better suited to Haas than Stern, despite Haas being ranked 11th to Stern’s 6th by U.S. News and World Report. Of course, MBA programs can prepare students for a wide range of careers and provide related career support; location is simply one factor that may tip the scales.
A second factor unaccounted for in rankings, but vital to MBA experiences, is teaching style. MBA programs teach via a mix of different styles, ranging from experiential learning, traditional lectures, and case study discussion. Have a think about the benefits of each, and which might suit you best, when selecting your business school.
What to Consider in School Selection
The factors to consider outside of MBA rankings don’t stop there! Schools may vary on, and you may need to think about, the following:
- The links between faculty and your industry of choice;
- Whether a program is full-time, part-time, online, evening-based, or executive;
- The career support available;
- The student culture;
- Who frequent employers are;
- The extracurriculars available on your program;
- The location, and whether it aligns with not just your career goals but your budget too.
For a more detailed breakdown of the factors to consider—outside of rankings—when selecting which business schools to target, check out our guide on choosing the best MBA for your career goals.
