One from the files, answering an ever-present question: does it matter to try for “Top-3” vs. “Top-10” vs. just top-tier MBA?
The original discussion was on the Businessweek MBA forum pages. I selected extracts to present here because they offer important (and corrective) thinking about what matters with rankings, and to whom.
Also, they helps understand how US program rankings are perceived internationally. It finishes with common sense that I endorse.
Original question: “Does rank really matter among Top Business schools? With my European point of view, I consider that there are only 6 Top Schools (in descending order): HBS, Stanford, Wharton, Columbia, Booth and Kellogg. Actually, I don’t really care about rankings here: my only criteria is prestige (which in my view is the only thing you can’t ignore when applying to business schools). In Europe, these schools are famous: if you say Stanford or Columbia, everybody knows what you’re talking about. [But]If you say Tuck business school (at random), very few people will have heard of it regardless of the quality of the school.
“So my question is: among this prestigious top, does is REALLY matter if you go to one or another? On this forum we can often read that if you go to HBS it is infinitely better that if you go to Wharton but Wharton will change your life so much more than Kellogg, and so on and so forth.”
Response: “In France [among] 100 person taken randomly in the street and educated in France, 100 will know about HEC, 90 about Harvard, 3 to 5 about Stanford, Wharton, Kellogg, Columbia and 10 maybe will know about INSEAD. But I would say that 90 will know about Yale, Princeton, 100 about Oxford, Cambridge.”
Response: “As a Frenchman I feel the need to throw in my 2 cents on this one. INSEAD is hands down the strongest MBA brand in France. Does every random person on the street necessarily know the name? No, but who cares? The employers do.”
Response: “I would like also to add that the education at the top business institutions is quite the same. I highly doubt that you will learn better investment management in Chicago or Wharton than in Yale, Haas or Fuqua. If you visit those schools, you might get surprised by the background of the faculty. You might take a class at Berkeley taught by a Yale alumni or even receive Michael Porter at Tuck.”
Response: “Although I agree with the notion that the value of an MBA drops as the ranking drops, I do not agree that there is a substantial difference between similarly ranked programs. Every objective metric I can think of (starting salary, quality of recruiting companies, average salary of graduates after 20 years etc.) clusters most top 15 programs closely together. The main exception seem to be HBS and Stanford. Another objective metric are the GMAT and the GPA. Those two metrics are hardly distinguishable in the top 15 programs, including HBS and Stanford.”
Original: “I’ve reached my conclusion I believe: go where you think you belong regardless of what people say/think. I chose to apply to Wharton and CBS finally even if i totally agree HBS/GSB are more famous and Booth/Kellogg are great schools simply because i think it will teach me what i want to learn in my specific field… and education among them is NOT that different, apart from some specialties that should ultimately lead your choice.”