Forbes Ranks UConn MBA Program 27th among U.S. Business Schools(8/11/2009) -
The University of Connecticut School of Business’ Full-Time MBA Program was ranked in the top 50 U.S. MBA Programs in Forbes’ 6th biennial MBA Program ROI rankings.
Among public institutions alone, UConn ranks 12th nationally and is ranked 27th among all U.S. institutions. UConn’s MBA Program is ranked #1 for ROI among public business schools in New England and is one of only five business schools in New England to be ranked in the top 30 nationally, along with Dartmouth, Harvard, MIT and Yale.
"This is the second national ranking UConn's MBA program has received in the last ten months that is the result of a true market performance test," notes Michael J. Deotte, Director of the Full-Time MBA Program in Storrs. "Both the new Forbes and this past fall's BusinessWeek Top 20 ROI rankings are based on market-driven criteria and are extremely valuable in demonstrating our success in recruitment and placement."
Behind the ranking
The Forbes ranking is based on the return on investment from Class of 2004 graduates.
The post-M.B.A. compensation of the graduates was compared with their opportunity cost, which includes tuition and forgone salary while in school and what they would have made had they stayed in their old jobs. The figures were then adjusted for cost-of-living expenses and the earnings gains discounted, using a rate tied to money market yields. Forbes also discounted tuition to account for students who pay in-state rates and non-repayable financial aid. This year for the first time Forbes also accounted for required fees that students must pay on top of tuition.
Only two-year full-time M.B.A. programs were included in the U.S. ranking.
What does this mean for the UConn MBA Program
"When some of the most respected business publications in the country recognize the value of a UConn MBA, we know we are on the right path," notes P. Christopher Earley, Dean of the UConn School of Business. "In today’s economic climate, the Forbes ranking will certainly impress students who are looking at business schools nationally and trying to find out which MBA Programs are not only high quality and most competitive, but that are also most affordable and yield the best ROI."
The national 2004 MBA class entered school during a time when jobs were scarce (only 36% of the 2003 MBAs nationally had a job offer three months before graduating, according to GMAC). Their payback has been slower than in previous years, but going to a top business school has continued to be a solid investment. Graduates of the top 75 schools Forbes analyzed typically earned their b-school investment back within five years, with UConn’s graduates on average earning their investment back in less than 4½.
"Students can give up a very substantial amount of money to obtain an MBA, in terms of tuition and lost income, so they need to ask what they can expect in return," adds Deotte. “These rankings help to answer just that.”
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