When thinking of pursuing an MBA, try to ask yourself if the business school where you wish to commit yourself is in the MBA ranking list. You should consider MBA rankings since they contain useful data or report and give you an overview of how much time to spend in studying the methodology they have set. In the U.S., one of the earliest rankings of MBA degree programs was published by BusinessWeek in 1998. Its rankings take into account the opinions of corporate officials and students.
Primarily, an MBA ranking aims to notify potential students on the ill-fame of the business school and the MBA program. The ranking provides a global picture to become notable with the MBA sector. It helps narrow down your list of MBA programs in which you may select the best that exactly fits your requirements. It serves as guide in establishing your own ranking based on your own criteria, goals, and needs. It can be used as an informational resource and an orientation tool on the available opportunities at business schools. It puts emphasis on the Grade Point Average (GPA) and the Graduate Management Admission Test (GMAT) of new entrants
However, the role of MBA ranking should not be overvalued in selecting the right school for you. It should not be regarded as an alternative for your own research of MBA school or program. The reason behind is the fact that data and information collected for the ranking can be subjective, which may not properly reflect the truth or may not check the accuracy to its entirety. It favors MBA programs with a lot of students since some rankings do not measure the results through the size of the programs. In turn, this will provide you with insufficient qualitative data, which is critical in selecting the right school and program for you.
In finding for a ranking on MBA programs, you need to be decisive towards the rank since it is only a selection of MBA degrees. Bear in mind that the ranking focus on the best MBAs on the market. This means that you should have a vital point of view on MBA data such as the placement percentages, faculty or student ratios, and financial aid.
A ranking for MBA may also serve as an information resource for business school accreditation, which is one of the most significant factors to consider prior to an application of an MBA program. The accreditation will indicate that the business school has complied with the tough standard for quality education in MBA. Among the notable regional and national accrediting bodies worldwide are the Association to Advance Collegiate Schools of Business or AACSB in the USA, the Association of MBAs of AMBA in Great Britain, and the European Quality Improvement System or EQUIS (the accreditation arm of the European Foundation for Management Development or EFMD) in Europe.
Therefore, an MBA ranking is only a measure of the reputation of a business school. It is highly recommended that you should spend your effort in finding the school that meets certain criteria you have set yourself.