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To rank or not to rank?
Joshua Kobb, previously of HEC School of Management’s MBA program puts rankings into perspective.
With the recent increase in the number of MBA rankings, more and more MBA candidates are focusing their attention on them. An MBA is an important long-term investment, and we would like to provide some insight into this very complex issue.
Rankings are a relatively new phenomenon for European MBAs, but over the past few years, one business paper after the other has embarked on the lucrative rankings game. But it is a difficult task. In Europe, the rules are different. The US is homogenous--everyone has a GPA, it's the same language, the same culture, the same business practices and the same job market, making it easier to compare programs. The methodology applied varies from ranking to ranking, and the criteria used in comparisons is not always transparent. Elements important to the MBA candidate are not always important in the rankings. But the basic issue is whether the methodology permits the comparison of MBAs across cultures and business environments.
What do rankings really tell you? Prospective MBA candidates are faced with a difficult choice between an increasing number of MBAs. It is natural, therefore, that they look towards rankings for an answer. But it is important to put rankings in perspective : the education one gets from school #1 is not necessarily better than that of school #2. Going to school #1 does not guarantee a better job than school #2. Rankings appear to provide a simple answer to a difficult question. Look at them, consider them, but make the decision based on the analysis of your own needs and not that of a journalist whose objective may be to sell newspapers.
There are some criteria to take into consideration in comparing and choosing an MBA, which may help you to direct your questions.
Structure of the program
Look at the length of the program, language requirements and overall balance between required courses and personalization. Is the program flexible enough to meet your individual needs? Will you have the option to specialize, to pursue exchange opportunities? What kind of company contacts will you have during the program?
Learning environment
Cooperation vs. Competition: where do you function best? Class size, student to faculty ratio and emphasis on group-work may be key indicators of this element. Also look at the level of internationalization of the student body and faculty. Get a feel for daily life on the program and try to imagine yourself there—is the program a good fit for you?
Placement and alumni network
Your MBA is an investment, so you need to be sure that you will have career opportunities. Besides looking at average graduation figures, look closely at the career services offered by each program. The alumni network at any b-school is of immeasurable value, so be sure that there is an official organization and that you have access to it. Besides the size and geographic diversity, look at the position alumni occupy.
A good parallel to MBA rankings is the GMAT, which is actually a ranking of test-takers. Is the candidate with a 640 "better" than the candidate with a 630? Should business school admissions professionals only accept candidates with over 650, and ignore the rest of the qualities of that individual? Can an individual's worth and potential be boiled down to a score, and thus can the quality of an MBA program be reduced to a ranking?
Business schools are naturally concerned by rankings, and we are often asked how we are reacting to them. Rankings are becoming an increasingly strategic issue, and therefore generate considerable discussion within our institution. Should we change our program to appear higher in a ranking? Should we change our admissions policies to appear higher in a ranking? Should we change our faculty hiring policies to appear higher in a ranking?
Rankings exist and will continue to exist.
MBA Research
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