On Business School Rankings
Do We Care Too Much?
Steve Smith, '07
Issue date: 10/26/06 Section: GSB News
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Following his receipt of Great Britain's most prestigious literary award, the Booker Prize, the author Kingsley Amis remarked: "I used to say that the Booker prize was a bit artificial. Now I feel it is a wonderful indication of literary merit."
Whenever a news organization releases its rankings of business schools, the results inevitably end up in the email inboxes of the entire GSB community. I looked forward to the email arriving on the morning of the October 13th. Congratulations to the administration, faculty and students of our school for the top ranking we received from Business Week.
Throughout my time at the GSB, I have consistently felt uncomfortable about the focus that we as a school seem to grant to the rankings from BusinessWeek, FT, The Economist, USN&WR, Forbes and The Wall Street Journal. It seems counterintuitive to value my education on the basis of where the GSB ranks in BusinessWeek's opinion, for example.
I don't think that the GSB - or any top business school - has tailored its strengths so as to maximize its rankings, but focusing on our ability to do just that validates those criteria as important to a business school education. How does the paring down of two years (and need I say $100,000 plus) to a smattering of numbers in order to rank the schools make sense? I don't think any member of our GSB community would say that what the school provides can be measured on grades from recruiters or in salaries coming out of school. I may overly idealistic.
The first business school rankings were released in 1988 by BusinessWeek. Business schools were surely faring well before the introduction of their list. Rankings serve to elevate those publications that release them as important voices in the business world and, more directly, the emerging business minds of the students considering applying to and attending HBS, Kellogg and the GSBs.
Besides the free publicity and marketing, I cannot see the use of these lists to the business schools. The deans are drastically more capable in determining what makes the best business education than the editorial staffs of the Financial Times or Business Week. The Economist has noted that its rankings are "little more than a device to catch the reader's attention". Their goal is to direct prospective students to a comprehensive list of the features of each business school.
Whenever a news organization releases its rankings of business schools, the results inevitably end up in the email inboxes of the entire GSB community. I looked forward to the email arriving on the morning of the October 13th. Congratulations to the administration, faculty and students of our school for the top ranking we received from Business Week.
Throughout my time at the GSB, I have consistently felt uncomfortable about the focus that we as a school seem to grant to the rankings from BusinessWeek, FT, The Economist, USN&WR, Forbes and The Wall Street Journal. It seems counterintuitive to value my education on the basis of where the GSB ranks in BusinessWeek's opinion, for example.
I don't think that the GSB - or any top business school - has tailored its strengths so as to maximize its rankings, but focusing on our ability to do just that validates those criteria as important to a business school education. How does the paring down of two years (and need I say $100,000 plus) to a smattering of numbers in order to rank the schools make sense? I don't think any member of our GSB community would say that what the school provides can be measured on grades from recruiters or in salaries coming out of school. I may overly idealistic.
The first business school rankings were released in 1988 by BusinessWeek. Business schools were surely faring well before the introduction of their list. Rankings serve to elevate those publications that release them as important voices in the business world and, more directly, the emerging business minds of the students considering applying to and attending HBS, Kellogg and the GSBs.
Besides the free publicity and marketing, I cannot see the use of these lists to the business schools. The deans are drastically more capable in determining what makes the best business education than the editorial staffs of the Financial Times or Business Week. The Economist has noted that its rankings are "little more than a device to catch the reader's attention". Their goal is to direct prospective students to a comprehensive list of the features of each business school.
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