International Master of Business Administration (MBA) rankings are generally accepted as an important part of the selection criteria for prospective MBA students. In recent years, rankings of top business schools and universities have been highly publicized and debated. There are numerous MBA and business schools ranking worldwide. Some of the more respectable MBA ranking publications include:
- Financial Times
- US News and World Report Top Business Schools
- Forbes MBA Ranking
- THE Wall Street Journal EMBA Ranking
- QS Top 200 Business Schools – Europe Ranking
- QS Top 200 Business Schools – Asia Pacific Ranking
- Graduate Management Association of Australia (Star rating)
- Business Week Top MBA Ranking 2009
- ASPEN GLOBAL 100 – Green MBA Ranking
- Academic Ranking of World Universities , ARWU
How does most MBA Ranking System Work?
Objective of most MBA ranking system is to give information to the market regarding the repute and standing of schools and their programs. However, the effectiveness of MBA ranking has been a highly controversial subject over the past few years. The challenge in terms of which ranking system to trust is that the criteria on which the different rankings are based are not always declared, which makes some of the rankings rather misleading. Fundamentally, the key conflicts associated with these popular rankings of MBA programs is
- That they incorporate “qualitative” aspects of the perceived “prestige” and “reputation” of the business school as a key criteria. Thus there is a general biases towards incumbents and institutions with bigger student and faculty population.
- Peer reviews by Deans and academics added to this bias.
- It is also interesting to note that in most MBA rankings, it places greater significance on the number of students who are rejected, rather than on the quality of the students who are accepted thus providing a uneven outcome on the “real” quality of their MBA Students.
Matter of fact is that one of the principal motivational factors behind business schools and MBA rankings by publishers has been its ability to boost the circulation and awareness of the magazines and newsprint
A REFINED METHODOLOGY
The MBA Singapore Ranking was first published in June 2009 commissioned by Aventis School of Management in collaboration with Edupoll.org, a leading aggregator of higher education courses in Asia. Criteria use for the assessment includes comprises of 2 major indicators
1. International Universal Indicators (IUI)
2. Singapore Centric Indicators (SCI).
Quality Indicators – International Universal Indicators (IUI)
- Accreditation – ACU and 6 Regional Accreditation | BIG 5 Accreditation Bodies AACSB, ACBSP, EQUIS, Association of MBA, EMBA Council
- International Rankings – US News, Good Uni Guide UK, Australia, QS, FT, Business Week, Guardian, Times, 4icu.org, Shanghai Jiao Tong , Princeton Review
- Alumni – Nobel Prizes, Senior Mgmt “C” Level of MNC, Political Leaders, Local Famous Alumni
- Graduate Satisfaction Reports – Graduate Satisfaction- Pay Graduate Satisfaction- Get a job Student Satisfaction
- Post MBA Outcome – Was MBA program responsible for achieving their career goals upon Graduation (Increase in Salary or Career Switch), School professional networking value – Local Alumni Chapters and International Alumni chapter, Schools international exposure and locations ( Student Exchange | International Study Trip), Managerial skills development
Singapore Centric Indicators (SCI)
- Length of Establishment of the MBA Program In Singapore – programs in Singapore – less 2 years (2points) 3-5 (3points) 6 -9 (4points) 10 years (5points)
- Teaching & Faculty Quality (TFQ) – Research contribution by Faculty 0 publications, Intellectual capital on Shanghai Jiao Tong top 500 ranking, Student to Faculty Ratio ( 1 to 30 Students Ratio), Learning Experience (total contact Hours) Below or above 300, Quality of Teaching % of Faculty with (PHD) – 50%, MBA course material quality
- Student Selectivity – Working Experience Requirement, Student Diversity Score , Academic Qualifications requirements, GMAT requirement, Student Acceptance Rate
- Affordability – Range Above 40k | 30000 to 39999 | 20000 to 29999 | Below 20000
- Strength of Local Institutional Partner – Institute of Higher Learning, ERF/Edu Trust, MBA Career and Alumni Support, Length of establishment
The Results- MBA Singapore Ranking 2012
Based on data collected by the research team, where points are allocated to each attribute separately for all the 10 attributes.
The following are the results of the MBA Ranking 2012 for Singapore MBAs.
The results of this analysis show that there is indeed a high correlation between the schools that rank as the "best" MBA programs in the popular press, and the measure of certain input-output measure of those programs.
Whilst it is useful to use MBA ranking as part of their selection process, it should not be the sole selection criteria when selecting a MBA program.