Posted on July 2nd, 2009 by NBS
Available rankings fail to tell a given student with a given skill set which schools are most likely to increase his market value. That’s the goal of the rankings created by Mike Shor an economist at Vanderbilt University’s b-school, highlighting that a change in methodology significantly alters the results.
Mike Shor took the top 50 MBA programs in the latest ranking by U.S. News & World Report (2009) and attempted to calculate what portion of actual salaries is above and beyond what grads would have earned with a degree from an “average” MBA program, based on GMAT scores and college grades. His goal was to remove the selection bias inherent in some rankings—the tendency for really smart people, who would have been high paid regardless of where (or if) they got a degree, to attend the very best schools.
In the table below:
Adjusted salary (in thousands of dollars) reflects both the starting salary of those employed within three months of graduation, and a downward adjustment for those who are not. All students not employed within three months of graduation are (pessimistically) assumed to have a salary equal to 80% of the average salary of employed students at their institution. This biases results against schools with low placement rates. If S=average salary and e=percentage employed, then adjusted salary = Se+.8S(1-e)
Market value denotes the difference between a school’s adjusted salary and what that school’s students would expect to earn (given their qualifications at admission) at an average business school (for a loose definition of an “average” school in this context, see no. 29). A student with a high GMAT score and an exceptional undergraduate GPA is likely to receive higher offers than one with lower scores regardless of the MBA program he attends (not because of the undergrad GPA, but because of what it reveals about the person). Market value indicates how much a school improves on this given its actual student population.
Shor
Ranking |
USN
Rank |
School |
Market Value
$ |
GMAT |
GPA |
Adj Salary $ 000 |
| 1 |
17 |
Cornell |
14K |
682 |
3.31 |
118 |
| 2 |
22 |
IN–Bloomington |
13K |
656 |
3.37 |
104 |
| 3 |
15 |
U of Virginia |
12K |
688 |
3.33 |
120 |
| 4 |
18 |
Texas–Austin |
12K |
673 |
3.38 |
109 |
| 5 |
1 |
Harvard |
8K |
713 |
3.63 |
134 |
| 6 |
33 |
Vanderbilt |
7K |
644 |
3.27 |
101 |
| 7 |
38 |
Rice |
6K |
642 |
3.25 |
100 |
| 8 |
33 |
MN–Twin Cities |
7K |
661 |
3.37 |
99 |
| 9 |
5 |
MIT |
6K |
705 |
3.5 |
126 |
| 10 |
40 |
MD–College Park |
6K |
650 |
3.34 |
98 |
| 11 |
19 |
Georgetown |
6K |
677 |
3.26 |
108 |
| 12 |
26 |
Ohio State |
6K |
661 |
3.41 |
97 |
| 13 |
11 |
NYU |
6K |
700 |
3.4 |
123 |
| 14 |
12 |
Duke |
6K |
690 |
3.38 |
114 |
| 15 |
20 |
UNC–Chapel Hill |
6K |
681 |
3.27 |
110 |
| 16 |
29 |
Brigham Young |
5K |
661 |
3.53 |
93 |
| 17 |
29 |
Rochester |
5K |
673 |
3.52 |
98 |
| 18 |
33 |
Texas A&M |
5K |
665 |
3.4 |
97 |
| 19 |
3 |
Northwestern |
3K |
704 |
3.5 |
122 |
| 20 |
44 |
Boston College |
3K |
651 |
3.35 |
94 |
| 21 |
4 |
Wharton |
2K |
712 |
3.53 |
130 |
| 22 |
9 |
Columbia |
2K |
707 |
3.4 |
128 |
| 23 |
47 |
SMU |
2K |
640 |
3.3 |
95 |
| 24 |
29 |
Arizona State |
2K |
675 |
3.44 |
98 |
| 25 |
28 |
WI –Madison |
1K |
656 |
3.37 |
92 |
| 26 |
40 |
Michigan State |
1K |
633 |
3.22 |
97 |
| 27 |
5 |
Chicago |
1K |
709 |
3.5 |
126 |
| 28 |
10 |
Yale |
1K |
700 |
3.47 |
116 |
| 29 |
32 |
Purdue Krannert |
0K |
662 |
3.32 |
94 |
| 30 |
40 |
Penn. State |
-1K |
650 |
3.3 |
92 |
| 31 |
22 |
Emory |
-1K |
685 |
3.3 |
106 |
| 32 |
22 |
Washington U St. Louis |
-2K |
674 |
3.38 |
95 |
| 33 |
13 |
MI–Ann Arbor |
-2K |
700 |
3.3 |
118 |
| 34 |
38 |
Il–Urbana-Champ |
-2K |
627 |
3.4 |
92 |
| 35 |
14 |
UCLA |
-2K |
704 |
3.6 |
114 |
| 36 |
46 |
Boston U |
-3K |
668 |
3.38 |
92 |
| 37 |
8 |
Dartmouth |
-4K |
713 |
3.46 |
127 |
| 38 |
15 |
Carnegie Mellon |
-5K |
696 |
3.32 |
111 |
| 39 |
22 |
GATECH |
-5K |
665 |
3.4 |
88 |
| 40 |
49 |
Babson College |
-5K |
631 |
3.21 |
93 |
| 41 |
2 |
Stanford |
-5K |
721 |
3.61 |
133 |
| 42 |
33 |
Notre Dame |
-7K |
673 |
3.2 |
95 |
| 43 |
20 |
U of Southern Cal |
-8K |
689 |
3.3 |
102 |
| 44 |
26 |
U of Washington |
-8K |
679 |
3.38 |
92 |
| 45 |
7 |
UC–Berkeley |
-9K |
710 |
3.57 |
115 |
| 46 |
40 |
UC– Davis |
-11K |
674 |
3.37 |
87 |
| 47 |
44 |
U of Iowa |
-15K |
652 |
3.34 |
76 |
| 48 |
51 |
UC –Irvine |
-16K |
667 |
3.34 |
79 |
| 49 |
55 |
U of Georgia |
-16K |
653 |
3.4 |
74 |
| 50 |
37 |
U of Florida |
-30K |
680 |
3.4 |
70 |
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Posted on July 2nd, 2009 by NBS
The legendary former GE CEO says he knows a thing or two about management, and for $20,000 you can, too
A corporate icon is diving into the MBA world, and he’s bringing his well-documented management and leadership principles with him. Jack Welch, former CEO at General Electric and BusinessWeek columnist, has announced plans to start an MBA program based on the business principles he made famous teaching managers and executives in GE’s Crotonville classroom.
The Jack Welch Management Institute will officially launch this week, with the first classes starting in the fall. The MBA will be offered almost entirely online. Compared to the $100,000-plus price tag for most brick-and-mortar MBA programs, the $600 per credit hour tuition means students can get an MBA for just over $20,000. “We think it will make the MBA more accessible to those who are hungry to play,” Welch says. “And they can keep their job while doing it.”
For reading the complete article go to Business Week
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Posted on June 27th, 2009 by NBS
Posted on June 26th, 2009 by NBS
Internet Based Test (iBT)
| Section |
Max Scores |
What your Scores Mean
|
| Reading |
0-30 |
|
| Listening |
0-30 |
|
Speaking
|
0-4* |
|
| Writing |
0-5*
|
|
| Total |
120 |
|
* points converted to a 0-30 scale
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Posted on June 18th, 2009 by NBS
Posted on June 18th, 2009 by NBS
Posted on June 18th, 2009 by NBS
Posted on June 12th, 2009 by NBS
| Rank |
Name |
Location |
| 1 |
AIIMS |
New Delhi |
| 2 |
Christian Medical College |
Vellore |
| 3 |
Armed Forces Medical College |
Pune |
| 4 |
King George Medical College |
Lucknow |
| 5 |
JIPMER |
Puducherry |
| 6 |
Kasturba Medical College |
Manipal |
| 7 |
Maulana Azad Medical College |
New Delhi |
| 8 |
Grant Medical College |
Mumbai |
| 9 |
Seth GS Medical College |
Mumbai |
| 10 |
St John’s Medical College |
Bangalore |
| 11 |
Madras Medical College |
Chennai |
| 12 |
Institute of Medical Sciences, BHU |
Varanasi |
| 13 |
LTM Medical College, Sion |
Sion |
| 14 |
PBDS PGIMS |
Rohtak |
| 15 |
BJ Medical College |
Pune |
| 16 |
Amrita Institute of Medical Sciences |
Kochi |
| 17 |
Bangalore Medical College |
Bangalore |
| 18 |
Christian Medical College |
Ludhiana |
| 19 |
Sri Ramachandra Medical College |
Chennai |
| 20 |
Osmania Medical College |
Hyderabad |
| 21 |
Medical College |
Kolkata |
| 22 |
Stanley Medical College |
Chennai |
| 23 |
Lady Hardinge Medical College |
New Delhi |
| 24 |
Kempegowda Inst of Medical Scs |
Bangalore |
| 25 |
Gandhi Medical College |
Hyderabad |
| 26 |
Government Medical College |
Chandigarh |
| 27 |
MS Ramaiah Medical College |
Bangalore |
| 28 |
Mahatma Gandhi’s Mission Medical C |
Aurangabad |
| 29 |
Jawaharlal Nehru Medical College |
Belgaum |
| 30 |
Univ College of Medical Sciences |
Delhi |
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Posted on June 12th, 2009 by NBS
Many test-prep companies these days are offering free sample GMAT classes. Take advantage of the offers, test out the various companies and find a teacher that really clicks with you.
Here’s a summary of the top companies offering free classes:
1. Manhattan GMAT:
Free class at many locations across the U.S. They also offer a free CAT, study flashcards and free online trial classes.
2. Veritas Prep:
Free class in Los Angeles, Chicago & Boston. They also offer a free CAT & a free GMAT iPhone study application
3. Princeton Review:
Free GMAT “bootcamps” across the USA.
4. Knewton:
Three free online classes; free CAT and free study questions
5. Kaplan:
Scroll down the page to “attend free event”
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Posted on June 8th, 2009 by NBS
You’ve heard it time and time again — going to a top MBA program offers fundamentally different opportunities than getting just any MBA degree. But applying to multiple schools can be a daunting task, and everyone should have a backup plan in case they don’t get into their first choice. Here are some guidelines for analyzing the differences between the top programs, based on interviews with graduates of nearly 20 top US business schools.
| School |
Characteristics |
Strengths |
Weaknesses |
Suggested Backups |
| Harvard |
The top program for liberal arts and social science majors (with as much as 50% of the class coming from those disciplines) HBS emphasizes the art of leadership |
* Harvard Brand.
* Depth of Network.
* Strong ties to finance, private equity and consulting.
* Best for general management and communications. |
* Lack of academic rigor, over reliance on case method.
* Stereotype that students have poor analytical and quantitative skills. |
* Tuck
* Darden
* Michigan |
| MIT Sloan |
The top program for science and engineering majors (with as much as 40% of the class from those disciplines) Sloan emphasizes an analytical, fact-based approach to management. |
* MIT Brand
* Rigorous, flexible academics.
* Strong ties to finance, high tech and consulting.
* Best for entrepreneurship, high tech and finance. |
* Smaller alumni network.
* Stereotype that students are too intellectual and not aggressive. |
* Chicago
* NYU
* Carnegie Mellon |
| Stanford |
Stanford takes a balanced approach to management education, with no particular background emphasized over others, resulting in one of the more diverse classes among top business programs. |
* Stanford brand name.
* Balance of qualitative and quantitative emphasis.
* Strong ties to Silicon Valley, venture capital and consulting.
* Best for entrepreneurship and general management. |
* Smaller alumni network, poor ties to east coast and international recruiting.
* Stereotype that students are not team players. |
* Berkeley
* Duke
* UCLA |
| Wharton |
The top graduate business program for undergraduate business majors (with as much as 45% of the class from those disciplines), Wharton focuses on finance and investment education. |
* Well-rounded academic program.
* Strong ties to finance and consulting.
* Best for finance and accounting. |
* Weaker ties to west coast recruiting.
* Stereotype that students are overly aggressive and too finance focused. |
* Chicago
* Columbia
* NYU |
| Kellogg |
With a balanced student body similar to Stanford, Kellogg has distinguished itself as the top MBA program for marketing and brand management. |
* Highly motivated, involved student body.
* Strong ties to brand management and consulting.
* Best for marketing. |
* Lack of analytical focus.
* Stereotype that students are team players but not leaders, poor quantitative skills. |
* Michigan
* Duke
* Tuck |
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