The results of a recent survey indicate that a significant number of prospective business school students believe that rankings have diminished in importance in recent years. The survey, conducted by Manhattan Prep and Kaplan, revealed that 55% of respondents perceive a decline in the prestige of rankings, while 21% disagree with this assessment, and 24% remain uncertain.
Despite the perceived decrease in ranking significance, an overwhelming 97% of the surveyed individuals emphasized the critical role of school rankings in their decision-making process when selecting a study program. Among them, 65% considered a school’s ranking to be very important, and 32% deemed it somewhat important.
In a parallel survey involving admissions officers from 70 US business schools, a similar sentiment emerged, with 50% of respondents acknowledging a loss of prestige in rankings—a notable 13% increase from the previous year’s findings. Notably, this survey encompassed 10 of the top 50 schools as per the US News rankings.
Admissions officers shared diverse perspectives on the relevance of rankings. While some view rankings as valuable informational tools among many others, influencing students’ application decisions, others criticize them as profit-driven mechanisms that schools manipulate. Notably, some respondents highlighted the significance of rankings for international applicants unfamiliar with US school reputations.
The landscape of business school rankings is extensive, with various publications releasing annual rankings across different program categories. Publications like the Financial Times and US News offer comprehensive lists, while QS Quacquarelli Symonds also provides valuable insights for aspiring students.
The perceived decline in ranking significance can be attributed to recent scandals within the academic realm, including dean controversies and school misconduct. The competitive environment has further intensified with the introduction of new rankings, reshaping the dynamics of the business school evaluation process.
While recognizing the utility of rankings for applicants, experts caution against overemphasizing their importance in the decision-making process. They advise students to consider factors beyond rankings, such as the school’s location, which can significantly impact career opportunities and networking prospects post-graduation. This advice underscores the value of attending a business school situated in a region conducive to one’s career aspirations, fostering local connections that can translate into lucrative job prospects.