By Kiah Haslett | The Kellogg Graduate School of Management at Northwestern University ranked fourth, and the University of Chicago Booth School of Business tied the Wharton School of the University of Pennsylvania for fifth on U.S.
News & World Report’s list of top 10 graduate business schools.
The School of Education and Social Policy at Northwestern ranked eighth for education.
The graduate program for engineering at the University of Illinois-Urbana-Champaign ranked fifth among engineering prgrams. And the University of Chicago Law school ranked fifth among law schools.
The survey looked at 2,000 programs nationwide. The rankings will
be featured in the May issue of “U.S. News & World Report.”
I think we need to redefine what a “top business school” really is and how and what its graduates actually contribute to the business world. The current finacial crisis, sub-prime mortgages, Goldman Sachs fraud, etc…all these situations were maufactured in the large banks and financial powerhouses…all lead by top business school graduates. If this is the type of graduate the Ivy League, NW, and UofC is churning out, we need to shut down those business schools ASAP before they create even more harm.
Muntz… I think you need to understand the kinds of jobs most business school students have after graduation. Most people do not work in investment banking, or even finance for that matter. You are correct that some business school graduates ran financial instituations into the ground, but a few bad apples do not spoil the bunch. Northwestern in particular is not a huge feeder into investment banks; most Kellogg graduates move into consumer products marketing, operations, consulting, media, and industry general management. Many of the companies that you buy and use products from every day are run by top business school graduates, but there’s no widespread objection to them… no? The business schools are not the culprits – the people and the companies that created those situations are. Put the blame where it belongs.
Muntz –
You make some very valid points and I agree with you on them. I would like to mention that I could care less what school someone attended since I want to see what he or she can produce in the work world. Going to Kellogg, Harvard, Brown or other top tier schools do not impress me at all. Kellogg and Booth are schools that people chose to attend and it does not make them a better worker than me. It does however get them a better chance of an interview because of the school they attended. I have often said when I make it to the CEO level, I will be fair and just. Going to a “top tier school” won’t save you if you can’t do your job in my eyes.
C –
You too have made some great points and some of them I do agree with. I will say this, I once read an article that talked about all the companies that went up in smoke due to bankruptcy, fraud etc. and most of the CEO’s from those companies came from top tier schools. While the doesn’t mean every student who attends those schools will committee some act to defraud or harm its firm, it was rather interesting..Jeff Skilling, Anil Kunar, Richard Fuld and Maurice Greenburg who actually donated $50 million to Yale….
I know plenty of people on Wall St who graduated from Booth and Kellogg. Great guys who do a great job. Your college work gets you your first job, how well you perform at it, and how hard you apply yourself determine how far you go. Both schools do a great job of preparing students for their careers.
It is amazing how many people on Main St can’t see past the media headlines and believe everyone in finance is immoral- get over it. There are a few rotten apples in every industry, in Illinois we don’t have to look very hard to find politicians who are corrupt- see Obama/Rezko, Daley,Blago…etc But that does not make everyone in Illinois, or Illinois politics corrupt.
Remember that the Kellogg and U of C grads are not the smartest students in the country. They are among a group of smart people who can afford to pay the outrageous tuition costs. The smart people who can not afford the tuition go to less known MBA programs and are never recruited by Americas Fortune 500.
Wasn’t it “Booth” who assasinated Honest Abe? and I love those Kellogg students invented Frosted Flakes…