QS Global 200 Business Schools Report

2014 / 2015
GLOBAL
200
QS Global 200
Business Schools Report
Unlocking the world’s top 200 business schools
Louis Lavelle, MA New York University, BA Montclair State University
Daniel Kahn, BSc, BA (Hons) Salford University
www.TopMBA.com
1
Contents
Introduction
3
1.0 Fast Facts
4
2.0 Regional MBA Rankings
6
3.0 Employer Survey Sample
10
4.0 Academic Survey Sample
14
5.0 Top business schools by region: North America
17
6.0 Top business schools by region: Europe
21
7.0 Top business schools by region: Asia-Pacific
25
8.0 Top business schools by region: Latin America
28
9.0 Top business schools by region: Middle East & Africa
30
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2014/15 QS Global 200 Business Schools Report
About the Contributors
Editor: Nunzio Quacquarelli is founder and managing director
of QS Quacquarelli Symonds Ltd, publishers of TopMBA.com
and organizers of QS World MBA Tour. He has an MA from the
University of Cambridge and an MBA from the Wharton School.
He lives and works in London.
Editor: Louis Lavelle is the editor-in-chief of TopMBA.com. His
35-year career in journalism includes eight years as the business
schools editor at Bloomberg Businessweek, where he co-led the
team that won two National Magazine Awards. He is also the
author of The Best B-Schools (McGraw-Hill Professional, 2008).
Lavelle has an MA from New York University and a BA from
Montclair State University. He lives and works in New York City.
Analyst: Daniel Kahn is a researcher with QS Quacquarelli
Symonds Ltd, and heads up the data collection team for the
QS Global 200 Business Schools Report. He has travelled
extensively to attend QS admissions events giving him broad
knowledge of the MBA world. Before joining QS he worked for
the telecommunications company, Alcatel. He lives and works in
Paris.
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Introduction
The QS Global 200 Business Schools Report originated in the early 1990s
as an alternative to business school rankings. At the heart of the report
was a definitive list of 200 business schools from which employers
prefer to recruit MBAs. The research was intended to be of use to MBA
employers, prospective MBA students and institutions worldwide that
are interested in international business education and recruitment
trends.
All that is still true. But for the first time this year QS is introducing a number
of changes that will transform the Global 200 Business Schools Report. The
report is compiled from an annual survey of human resources managers
at companies around the world that actively recruit MBA graduates. With
the 2014/15 report, the research now includes a second measure: academic
reputation. Based on a global survey of top faculty with expertise in business
and management, the new measure identifies those business schools with the
best worldwide reputation for cutting-edge research, an expertise that informs
teaching, curricula, and many other aspects of those programs.
At the same time, we’re changing the way we present the data. In the past, we
published separate regional rankings for four categories of business schools:
elite global, emerging global, elite regional, and emerging regional. Our new
report eliminates the four categories in favor of a single ranking for each region
covered: North America (the US & Canada), Europe, Asia-Pacific, Latin America,
and the Middle East & Africa.
Rankings in 10 MBA specializations, from strategy to corporate social
responsibility will be published at a later date. We have also eliminated schoolby-school placement, salary, and bonus data, which is not part of our ranking
methodology. That data will be presented in a new report on the MBA’s return
on investment, to be published separately.
The changes are based on the growing realization that the value proposition
of the MBA is changing. It is no longer viewed as merely a passport to highpaying job. For many students, it is also a way to create value in other ways
– whether that means working with a nonprofit or starting a business. Those
goals require academic skills far beyond the ones that prepared generations
of MBAs for careers in finance and consulting, and they demand a new kind of
ranking. This report is just such a ranking.
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Fast Facts
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• Worldwide: Six schools received the maximum score for employer recognition, identifying
them as the leading schools in their region, including two new US additions to this club: the
University of Pennsylvania’s Wharton School and Northwestern University’s Kellogg School
of Management. Four schools received the maximum score for academic reputation: Harvard
Business School, Stanford Graduate School of Business, the Wharton School and MIT’s Sloan
School of Management. Three schools – Harvard, Stanford, and Wharton – received the maximum
score for both.
• North America: The triumvirate that dominates the top tier of US business schools once again
occupies the top of the North American list this year, with Harvard, Stanford and Wharton in an
unprecedented three-way tie for the No. 1 spot. The change in the ranking methodology resulted
in big shifts among well-known schools. In the top 10, New York University’s Stern School
of Business moved up 11 spots to No. 10. Elsewhere, the McCombs School of Business at the
University of Texas, Austin, gained 10 spots, the Marshall School of Business at the University of
Southern California advanced 18 spots and the Paul Merage School of Business at the University
of California, Irvine rose by 19.
• Europe: After more than a decade at the top, INSEAD surrenders the No. 1 spot in Europe to
London Business School in what amounts to a rankings dead heat, with LBS nudging out its
rival by the narrowest of margins. Saïd Business School at Oxford University joins the top three,
HEC Paris and SDA Bocconi join the top five, and the University of Strathclyde Business School,
Cass Business School, Business School Lausanne, and Grenoble Graduate School of Business all
gained 20 spots or more.
• Asia-Pacific: INSEAD’s Singapore program retains its grip on the Asia-Pacific title thanks to a
reputation among international MBA employers that exceeds that of all other business schools
in the region several times over and an academic reputation among the very best in the world.
Singapore retains its hold on the top of the list, while two Hong Kong schools have come out of
nowhere to establish a formidable foothold in the top five. India has lost three of its four top 10
spots, including those held by prestigious IIMs in Bangalore and Calcutta as well as the Indian
School of Business.
• Latin America: EGADE-Tecnológico de Monterrey, Campus Monterrey, Latin America’s top
school for both employer recognition and academic reputation, once again retains the No. 1
spot, followed by Pontificia Universidad Católica de Chile, which held on to No. 2. Two schools,
unranked last year, joined the group: Universidad Adolfo Ibáñez at No. 5 and Universidad
Diego Portales at No. 9. Universidad de Chile was the big gainer, advancing three spots to
No. 3, followed by INCAE Business School, which moved up two spots to No. 6, and Instituto
Tecnológico Autónomo de México (ITAM), which moved up one spot to No. 4.
• Middle East & Africa: A new entry to the Global 200, the College of Industrial Management at
King Fahd University, took the No. 1 spot from the Graduate School of Business at the University
of Cape Town, which fell to No. 3. The American University in Cairo rose two spots to No. 2, while
the Suliman S. Olayan School of Business at the American University of Beirut rose one spot to
No. 4.
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Regional MBA
Rankings
7
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Management education is globalizing. The past decade has seen an increase of accredited business
schools open in emerging markets such as in the BRICs (Brazil, Russia, India, and China). While
business schools in the US and Europe remain the most popular study destinations among MBA
students, schools elsewhere in the world such as those in Asia are growing in popularity. The
proliferation of accredited programs around the globe has led to a wider choice for MBA applicants
over the past few years. Recent trends indicate that there is greater onus on choosing the right
country as well as the right business school. According to the QS TopMBA.com Applicant Survey
2014, over 50% of MBA students are choosing schools based on the country in which they wish to
work.
Furthermore, international MBA recruiting is no longer the domain of a few prestigious US and
European companies. A growing number of HR managers in the Asia-Pacific region, Latin America,
and the Middle East are informed about MBA education, widening the sample available for the QS
Global Employer Survey.
As a consequence of these shifts, regional MBA trends are of increasing importance. In order to
provide data to help students and recruiters best choose which schools to apply to and recruit
from, QS has categorized its business school ratings by region.
Methodology
Since the beginning, the objective of the QS Global 200 Business Schools Report has been to provide
an indication of the employability of an MBA upon graduation. Unlike traditional business school
rankings, which measure programs on multiple criteria, QS for many years published a rating that
provides a reliable measure of one thing only: the employability of MBA graduates.
For the 2014/15 report, QS has adopted a new methodology. The employability measure, based on
our global survey of MBA employers, will now count for 85% of the final ranking. A second measure
– academic reputation – based on a global faculty survey, will contribute 15% to the final ranking.
Employer Survey
The QS Global 200 Business Schools Report survey (hereafter referred to as the ‘survey’) captures
the preferred set of business schools each responding employer wishes to recruit from; either now,
in the recent past or in the near future.
QS asks international employers to select the schools from which they consider hiring MBA
graduates. Employers that focus on domestic hiring are not included in the survey. However, QS
recognizes that many excellent schools that cater predominantly to the local recruitment market
may not appear in the tables.
We include only business schools offering full-time MBA programs and as such well-known
business schools like ESCP Europe and HEC Lausanne (which only offer executive MBA, part-time
MBA and/or masters programs) are excluded.
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2014/15 QS Global 200 Business Schools Report
In order to produce the QS Global 200 Business Schools Report, QS focuses on experienced HR and
line managers at organizations that actively recruit MBAs. Respondents from each company are
asked a series of questions about MBA recruiting in the previous and the forthcoming year.
Employer responses to these questions provide information on the following:
• MBA recruitment trends
• MBA salaries and compensation trends
• Global business school ratings by region
• Global business school ratings by specialization
Each employer is asked to list, unprompted, the international schools from which they have
recently attempted to recruit MBAs. Each time a school is selected by an employer, it receives one
vote and the total number of votes for each school is referred to as the ‘total unprompted votes.’
From a list of 500 business schools that have been categorized by region, employers are then asked
to identify the schools they regard as attractive for the purpose of hiring MBA graduates. In order
to be included on the list, a school must have been recommended by an employer in the previous
year of the research. Each time a school is selected, it is given one vote, and the total for each
school is referred to as the ‘total prompted votes.’
The prompted and unprompted votes are added together to create the ‘total employer votes.’ In
order to ensure balanced results that are not subject to influence from the economic cycle, an
average of the ‘total employer votes’ is taken from the current year’s research and the two previous
surveys.
The best performing school(s) are given an index score of 100 and the average total employer votes
for the remaining schools are indexed against the best performing school(s). This score is known as
the school’s ‘index of employer votes.’
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Academic Reputation
Separate from the employer survey, the QS Intelligence Unit surveys academics from all over the
world each year, a survey that forms the centerpiece of the QS World University Rankings. In 2014,
63,676 faculty and other academics responded to the survey.
Respondents are first asked to identify their areas of expertise – countries, regions, and up to five
faculty areas with which they are most familiar. For each of the five faculty areas, they are then
asked to list up to 10 domestic and 30 international institutions that they consider excellent for
research in that area. They are not permitted to choose their own institutions. For the QS Global
200 Business Schools Report, only responses related to business and management were used.
To increase the size of the sample, responses from one year are combined with those from two
previous years, and duplicate responses from the same individuals over the three-year period are
removed. In 2014, QS received 3,128 usable responses. Combining the 2014 responses with those
from two previous years gave us a total of 7,187 responses.
As with the employer survey, the best performing school(s) in the academic survey are given an
index score of 100 and the remaining schools are indexed against the best performing school(s).
Final Ranking
To assemble the final ranking, we assign a weight of 85% to the employer survey results and of 15%
to the academic reputation results. This combined score determines the relative position of each
school on each table.
This research does not intend to infer an overall global ranking of schools. Instead, the schools
in five global regions are ranked separately. Breakdowns for elite global, emerging global, elite
regional, and emerging regional business schools that appeared in previous reports are no longer
provided.
The combined or overall scores listed in the ranking tables are rounded to one decimal point.
Schools with the same overall score might have a different rank because of this rounding.
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Employer Survey Sample
The survey was conducted over six months and represents one of the largest exercises QS has
undertaken in terms of geographic scope and level of detail.
The total of 28,759 employers responded to the QS Global Employer Survey between 2012 and 2014,
including 5,669 who were actively recruiting MBAs. All employers who responded to the survey are
guaranteed confidentiality for the components of their individual responses, except for any openended feedback they have chosen to provide on the value of an MBA or concerns with MBA hires.
The following table gives a snapshot of some of the organizations that took part in the survey
across the world.
Consulting
Finance
Industry
Technology
Asia
Europe
US & Canada
Latin America
Beijing Consulting Group
AT Kearney
Booz Allen Hamilton
Accenture
Grant Thornton LLP
Bain & Company
Deloitte
Deloitte
Ernst & Young
BCG
Ernst & Young
KPMG
IBM
PwC
Towers Watson
PwC
Commonwealth Bank
AXA
American Express
Banco Santander
Citibank
Bloomberg
BlackRock
Bancolombia
Nomura
BNP Paribas
Citibank
BBVA Continental
OCBC Bank
Deutsche Bank
ING
HSBC
Air Liquide
Abbott
3M
Colgate Palmolive
Alstom
Alstom
Best Buy
Daimler
Baxter
Bayer
ConAgra Foods
Exxon
Bombardier
Boehringer
DHL
Merk
Hitachi
Alcatel-Lucent
Brightstar Corporation
Hewlett-Packard
Microsoft
Google
Apple
Atos
LG Electronics
Avaya
Oracle
BlackBerry
Tata
Microsoft
Microsoft
MercadoLibre
Source: QS Global 200 Business Schools Report 2014/2015 (TopMBA.com)
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2014/15 QS Global 200 Business Schools Report
Industry Distribution of Employers
The chart below shows the spread of employers across 20 industries. This reflects the global
spread of industries that hire MBAs. The consulting and financial services sectors are the largest
respondents in 2014, reflecting traditional MBA hiring patterns. HR/recruitment services,
manufacturing, IT, consumer goods and energy are also well represented in the sample.
Responses by industry
0
200
400
600
800
1000
Aerospace / Defence
Construction / Property
"Consulting / Professional Services
Electronics / High Technology
Energy
Consumer Goods
Financial Services / Banking
IT / Computer Services
Law
Manufacturing / Engineering
Media / Entertainment & Arts
Metals / Mining
&Pharmaceuticals / Biotech & Healthcare
"Public Sector / Govt. / Non-profit
Recruitment / HR services
Retail
Telecoms
Transportation / Distribution
Travel / Leisure / Hospitality
Utilities
Other
Education
Source: QS Global 200 Business Schools Report 2014/2015 (TopMBA.com)
Source: QS Global 200 Business Schools Report 2014/2015 (TopMBA.com)
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Geographical distribution of employers
Responses were received from employers across the globe, with 19% of employer respondents
based in Western Europe, 14% in North America, 30% in Asia-Pacific, 6% in Eastern Europe, 13% in
Middle East and Africa, 18% (of which the majority were hiring locally) in Latin America. Among
respondents in Asia-Pacific, 12% were employers in Australia and New Zealand. This breadth of
response provides detailed insights into MBA recruiting patterns across the globe.
13% Africa & Middle East 19% Asia Pacific 30% 14% Eastern Europe La?n America US & Canada 18% 6% Western Europe Source: QS Global 200 Business Schools Report 2014/2015 (TopMBA.com)
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Academic Survey Sample
The following tables and charts provide a description of the individuals who took part in our
academic survey. In 2014, nearly two-thirds were faculty – professors, associate or assistant
professors, senior lecturers and lecturers – while nearly a third were administrators. Nearly threequarters have more than 10 years of academic experience. The respondents come from all over the
world, with Europe, Latin America and North America accounting for more than 70% of the sample.
Academic Survey Respondents by Job Title 2014
Total 1600 1400 1200 1000 800 600 400 200 0 an
ice
-­‐
t re
sid
Te
en
ac
t /
hi
D
ng
ep
A
ut
ss
y V
ist
ur
ct
or
ni
Se
A
or
ni
Se
Le
ist
dm
in
Sp
ch
ar
se
Re
er
r ra
ia
ec
ist
ss
A
ch
se
Re
to
lis
an
t t ia
oc
ss
A
-­‐P
ce
Pr
Vi
of
Pr
es
es
so
id
r /
en
ar
te
-­‐C
P
ha
ro
nc
fe
el
ss
lo
or
r r Ot
ice
V
t /
/ L
n ria
ra
Lib
Ad
he
an
ist
ss
A
ry
ra
ib
o
ad
He
t er
ur
ct
f D
nt
ta
sis
As
Le
en
tm
ep
ar
ro
P
ns
io
iss
m
Ad
t or
fe
ffi
O
6o
nc
Fu
r /
to
ra
ist
m
in
ss
ce
na
l r Total Source: QS Global 200 Business Schools Report 2014/2015 (TopMBA.com)
Regional Breakdown of Academic Survey Respondents 2014
Total 800 700 600 500 400 Total 300 200 100 0 Africa Australasia Caribbean Central Asia East Asia Eastern Europe La=n America Middle East North Northern South Asia Southeast Southern Western America Europe Asia Europe Europe NA Source: QS Global 200 Business Schools Report 2014/2015 (TopMBA.com)
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2014/15 QS Global 200 Business Schools Report
Academic Survey Respondents by Years in Academia 2014
Total 1200 1000 800 600 Total 400 200 0 0-­‐10 11-­‐20 21-­‐30 31-­‐40 41-­‐50 51+ Source: QS Global 200 Business Schools Report 2014/2015 (TopMBA.com)
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Top business schools
by region:
North America
18
2014/15 QS Global 200 Business Schools Report
2014
Rank
1=
2013
Rank
1
Institution
Country
United States
Employer
Score
100.0
Academic
Score
100.0
Overall
Score
100.0
Harvard Business School
1=
2
Graduate School of Business, Stanford University
1=
3
4
United States
100.0
100.0
100.0
732
4
35
The Wharton School, University of Pennsylvania
United States
100.0
100.0
100.0
725
5
36
4
The University of Chicago Booth School of Business
United States
99.9
99.6
99.9
723
5
40
5
6
Columbia Business School, Columbia University
United States
99.8
99.2
99.7
716
5
41
6
5
The Kellogg School of Management, Northwestern University
United States
100.0
97.8
99.7
715
7
36
7
9
Sloan School of Management, Massachusetts Institute of Technology (MIT) United States
99.4
100.0
99.5
713
5
30
8
12
Ross School of Business, University of Michigan
United States
97.1
95.9
96.9
701
5
32
9
7
UCLA Anderson School of Management
United States
96.6
97.9
96.8
707
5
39
10
21
Stern School of Business, New York University (NYU)
United States
93.8
97.3
94.3
721
5
32
11
17
Yale School of Management, Yale University
United States
92.6
95.9
93.1
714
4
37
12
11
Haas School of Business, UC Berkeley
United States
90.5
99.8
91.9
714
5
41
13
10
The Fuqua School of Business, Duke University
United States
91.2
88.7
90.8
634
6
49
14
8
Joseph L. Rotman School of Management, University of Toronto
Canada
90.5
86.3
89.9
674
4
26
15
14
Richard Ivey School of Business, The University of Western Ontario
Canada
81.5
56.4
77.7
662
5
58
16
19
Sauder School of Business, University of British Columbia
Canada
68.7
85.1
71.2
658
5
55
17
15
Desautels Faculty of Management at McGill University
Canada
69.1
80.4
70.8
690
5
19
18
20
Thunderbird School of Global Management
United States
75.8
21.2
67.6
601
4
58
19
29
McCombs School of Business, University of Texas at Austin
United States
60.9
88.8
65.1
690
5
39
20
24
Boston University School of Management
United States
60.0
47.9
58.2
620
5
36
21
25
Kelley School of Business, Indiana University
United States
58.1
51.8
57.2
664
5
66
22
16
HEC Montreal
Canada
55.7
58.3
56.1
625
7
26
23
42
Marshall School of Business, University of Southern California
United States
53.2
51.1
52.9
690
5
31
24
27
Tuck School of Business at Dartmouth
United States
51.7
52.1
51.8
718
5
28
25
31
S.C. Johnson Graduate School of Management, Cornell University
United States
43.9
78.9
49.2
700
5
44
26
34
Illinois MBA Program, University of Illinois Urbana-Champaign
United States
43.4
69.4
47.3
661
4
51
27
23
Kenan-Flagler Business School, University of North Carolina
United States
44.4
60.5
46.8
690
5
32
28
13
Schulich School of Business, York University
Canada
51.2
20.7
46.6
663
6
28
29
26
Tepper School of Business, Carnegie Mellon University
United States
40.1
79.0
45.9
691
5
34
30
33
McDonough School of Business, Georgetown University
United States
45.0
40.4
44.3
688
5
45
31
18
Queen’s School of Business
Canada
44.4
41.8
44.0
665
5
60
32
22
Alberta MBA Programs, University of Alberta
Canada
42.8
46.3
43.3
648
5
40
33
51
The Paul Merage School of Business, University of California, Irvine
United States
46.5
18.2
42.3
660
6
30
34
38
The Carroll School of Management, Boston College
United States
40.1
35.1
39.4
593
4
26
35
30
Full-Time MBA Program, Mays Business School, Texas A&M University
United States
38.0
45.5
39.1
648
5
39
36
54
Graduate School of Management, University of California, Davis
United States
42.3
21.1
39.1
690
5
37
37
28
University of Virginia Darden School of Business
United States
37.4
40.8
37.9
706
5
35
38
71
The Eli Broad Graduate School of Management, Michigan State University United States
27.4
58.7
32.1
660
4
37
39
36
Goizueta Business School, Emory University
United States
34.7
14.9
31.7
675
5
36
40
61
Rady School of Management, University of California, San Diego
United States
29.7
32.9
30.2
613
5
28
41
48
University of Massachusetts Boston MBA Program
United States
32.4
9.8
29.0
580
5
29
42
60
Max M. Fisher College of Business, The Ohio State University
United States
23.5
59.0
28.8
666
5
47
43
35
Georgia Tech College of Management
United States
21.9
64.7
28.3
678
5
39
44
53
Darla Moore School of Business, University of South Carolina
United States
30.2
13.0
27.6
664
4
38
45
83
Naveen Jindal School of Management, The University of Texas at Dallas
United States
25.2
33.1
26.4
672
6
61
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Avg GMAT Avg Years
Score
Work
730
4
% Intern’l
41
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2014
Rank
46
2013
Rank
39
Institution
Country
Babson College
47
83
Olin Business School, Washington University in St. Louis
48
63
49
United States
Employer
Score
22.4
Academic
Score
47.1
Overall
Score
26.1
United States
25.2
25.2
25.2
696
5
25
Telfer School of Management, University of Ottawa
Canada
25.8
12.1
23.8
627
3
70
87
Carlson School of Management, University of Minnesota
United States
17.4
57.2
23.4
690
4
26
50
81
DeGroote School of Business, McMaster University
Canada
23.0
21.0
22.7
630
3
30
51
56
The Fox School of Business, Temple University
United States
24.6
8.9
22.3
640
5
14
52
58
Madison Wisconsin School of Business, University of Wisconsin
United States
17.4
45.4
21.6
676
5
30
53
59
Jesse H. Jones Graduate School of Business, Rice University
United States
21.3
18.5
20.9
682
5
50
54
85
Krannert School of Management, Purdue University
United States
14.7
53.5
20.5
627
4
36
55
65
W. P. Carey School of Business, Arizona State University
United States
13.6
47.8
18.7
637
5
34
56
77
Smeal College of Business, Penn State University
United States
11.4
59.5
18.6
645
4
31
57
69
Robert H. Smith School of Business, University of Maryland
United States
10.4
62.9
18.3
656
5
49
58
41
Graduate School of Business, Florida International University
United States
18.5
15.2
18.0
567
4
42
59
43
Weatherhead School of Management, Case Western Reserve University
United States
16.9
22.7
17.8
631
4
26
60
45
Edwards MBA, University of Saskatchewan
Canada
19.6
6.7
17.7
576
6
40
61
46
Haskayne School of Business, University of Calgary
Canada
16.9
19.2
17.3
620
5
37
62
80
Michael G. Foster School of Business, University of Washington
United States
12.0
46.9
17.2
670
6
55
63
57
Segal Graduate School of Business, Simon Fraser University
Canada
18.0
12.8
17.2
607
6
18
64
52
The Johns Hopkins Carey Business School
United States
14.7
29.2
16.9
650
3
45
65
62
School of Business, George Washington University
United States
14.7
27.4
16.6
620
5
47
Eller School of Management, University of Arizona
United States
10.4
47.8
16.0
639
4
22
66
Avg GMAT Avg Years
Score
Work
610
5
19
% Intern’l
38
67
49
Gustavson School of Business, University of Victoria
Canada
14.7
19.2
15.4
560
4
78
68
72
Cox School of Business, Southern Methodist University
United States
16.9
5.7
15.2
641
4
57
University of California, Riverside
United States
13.6
16.0
14.0
593
3
20
69
70
50
J. Mack Robinson College of Business, Georgia State University
United States
12.0
23.3
13.7
600
5
17
71
47
Leeds School of Business, University of Colorado at Boulder
United States
13.1
16.7
13.6
625
5
50
72
90
LeBow College of Business, Drexel University
United States
14.2
9.5
13.5
600
5
24
73
Henry B. Tippie School of Management, University of Iowa
United States
11.4
22.2
13.0
635
7
32
74
Universite Laval
Canada
12.0
15.8
12.6
643
3
30
75
70
Daniels College of Business, University of Denver
United States
13.1
9.2
12.5
602
4
67
76
68
Peter F. Drucker, Claremont Graduate University
United States
12.5
12.1
12.4
625
4
26
77
32
School of Business Administration, University of Miami
United States
13.6
5.2
12.3
704
5
62
78
64
Graduate School of Management, University of San Francisco
United States
14.2
1.0
12.2
570
4
25
79
44
John Molson School of Business, Concordia University
Canada
12.5
10.3
12.2
623
6
33
80
Odette School of Business, University of Windsor
Canada
13.6
3.3
12.1
615
2
30
81
Loyola University Chicago
United States
11.4
11.5
11.4
575
4
70
Rutgers Business School - Newark and New Brunswick
United States
12.0
7.4
11.3
582
2
21
83
Graduate School of Business, University of Florida
United States
1.5
54.0
9.4
672
5
30
84
School of Business, University of Northern British Columbia
Canada
8.2
14.1
9.1
575
7
50
85
Graduate School of Business Administration, San Diego State University
United States
9.3
6.7
8.9
602
4
20
82
67
86
37
Owen Graduate School of Management, Vanderbilt University
United States
9.3
5.7
8.8
688
5
36
87
76
Katz Graduate School of Business, University of Pittsburgh
United States
8.2
7.0
8.0
622
4
18
Terry College of Business, University of Georgia
United States
7.2
11.7
7.9
643
5
32
88
89
55
American University Kogod School of Business
United States
7.7
8.2
7.8
590
4
44
90
82
School of Management, University at Buffalo - SUNY
United States
7.7
3.0
7.0
600
2
0
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20
2014/15 QS Global 200 Business Schools Report
The triumvirate that dominates the top tier of US business schools once again occupies the top
of the North American list this year, with Harvard Business School, Stanford Graduate School of
Business and the University of Pennsylvania’s Wharton School in an unprecedented three-way
tie for the No. 1 spot. Last year, Harvard, Stanford and Wharton took the No. 1, 2 and 3 spots,
respectively.
The three schools, along with Northwestern University’s Kellogg School of Management scored
the highest on employer reputation. They account for four of the six ‘perfect’ employer scores
worldwide. Harvard, Stanford, and Wharton, along with MIT’s Sloan School of Management also
achieved the highest score for academic reputation. Those four US schools are the only ones to
achieve ‘perfect’ academic scores worldwide.
New York University’s Stern School of Business is the biggest climber in the top 10, moving up 11
spots to No. 10. Also new to the top 10 this year: the Ross School of Business at the University of
Michigan, which advanced four spots to No. 8. Falling out of the top 10 were the Fuqua School of
Business at Duke University, which fell three spots to No. 13, and the Joseph L. Rotman School of
Management at the University of Toronto, which fell six spots to No. 14.
Other big climbers include the McCombs School of Business at the University of Texas, Austin, up
10 spots to No. 19, the Marshall School of Business at the University of Southern California, up 18
spots to No. 23, and the Paul Merage School of Business at the University of California, Irvine, up
18 spots to No. 33.
Since employer scores count for 85% of the final ranking, those scores more or less track the overall
ranking. But academic scores fluctuate broadly. In fact, the bottom half of the list includes 10
schools with academic scores that exceed the regional average (42.5), including the Carlson School
of Management at the University of Minnesota (57.2), Penn State’s Smeal College of Business (59.5),
and the University of Maryland’s Robert H. Smith School of Business (62.9).
Among all 90 North American schools on the list, the average GMAT score is 651. Harvard, Stanford,
and Wharton all boast the highest GMAT scores of the group – at or above 725 – and there appears
to be a fairly close correlation between those scores and the overall ranking.
Every school in the top 10, boasts a 700+ GMAT score, a benchmark reached or surpassed by fewer
than one out of five programs in North America. Among top 15 schools attracting these highcaliber students are the highly-ranked MIT Sloan School, the Stern School at NYU, and the Yale
School of Management; but also the No. 24 Tuck School of Business at Dartmouth (718), No. 25 S.C.
Johnson Graduate School of Management at Cornell (700), No. 37 Darden School of Business at the
University of Virginia (706), and even No. 77 University of Miami School of Business Administration
(704).
A total of 10 schools that were not ranked in 2013 were ranked in 2014, including seven from the US
and three in Canada. The Eller School of Management at the University of Arizona, entering at 66th,
and Université Laval, at 74th, are the highest-ranked of these programs from the US and Canada,
respectively.
Follow us
QS Global 200 Business Schools
Report 2014/15
6.0
Top business schools
by region:
Europe
22
2014/15 QS Global 200 Business Schools Report
2014
Rank
1
2013
Rank
2
Academic
Score
99.9
Overall
Score
100.0
London Business School
2
1
INSEAD
France
100.0
99.6
99.9
702
6
3
4
Said Business School, Oxford University
70
United Kingdom
96.6
99.7
97.1
692
5
4
10
85
HEC Paris MBA Program
France
95.8
88.4
94.7
683
6
5
90
6
SDA Bocconi School of Management
Italy
86.5
89.0
86.9
665
5
95
6
3
IE Business School
Spain
94.3
43.7
86.7
672
5
70
7
8
ESADE Business School
Spain
85.3
74.9
83.7
670
5
92
8
5
IMD
Switzerland
88.0
51.9
82.6
676
7
80
9
7
IESE Business School, University of Navarra
Spain
83.5
54.9
79.2
670
4
97
10
13
Judge Business School, University of Cambridge
United Kingdom
75.1
99.9
78.8
680
7
88
11
14
Imperial College Business School, Imperial College London
United Kingdom
69.5
88.4
72.3
638
7
91
12
9
Copenhagen Business School
Denmark
52.2
89.0
57.7
647
7
80
13
20
Warwick Business School, University of Warwick
United Kingdom
47.1
89.5
53.5
658
7
88
14
27
Manchester Business School, The University of Manchester
United Kingdom
44.4
92.3
51.6
629
6
95
15
11
The St.Gallen MBA, University of St Gallen
Switzerland
45.0
64.9
48.0
656
6
90
16
29
ESSEC Business School
France
35.2
43.5
36.5
600
6
68
17
17
Cranfield School of Management
United Kingdom
33.6
49.5
36.0
660
7
80
18
15
Mannheim Business School
Germany
24.6
62.4
30.3
675
7
83
19
21
European Business School (EBS)
Germany
32.4
15.1
29.8
600
7
94
20
19
Rotterdam School of Management, Erasmus University
Netherlands
17.4
94.5
29.0
640
6
70
21
12
Trinity MBA,University of Dublin, Trinity College
Ireland
25.8
40.2
28.0
625
5
47
22
44
Cass Business School
United Kingdom
21.9
51.5
26.3
634
7
70
23
23
ESIC Business & Marketing School
Spain
21.9
30.6
23.2
680
5
84
24
30
University of Edinburgh Business School
United Kingdom
14.7
66.3
22.4
650
5
94
25
45
Grenoble Graduate School of Business, Grenoble Ecole de Management
France
19.6
28.2
20.9
N/A
8
69
26
24
MIP - School of Management, Politecnico di Milano
Italy
18.5
29.3
20.1
610
6
94
27
35
EDHEC Business School
France
19.1
24.9
20.0
646
9
60
28
49
Business School Lausanne
Switzerland
18.5
21.8
19.0
640
3
80
29
37
Sorbonne Graduate Business School - IAE de Paris
France
14.2
42.8
18.5
600
4
60
30
33
Henley Business School
United Kingdom
15.2
35.0
18.2
N/A
5
97
31
42
Nottingham University Business School
United Kingdom
12.0
51.8
18.0
640
6
88
Birmingham Business School
United Kingdom
12.0
44.7
16.9
N/A
8
68
WHU Otto Beisheim School of Management
Germany
13.1
35.7
16.5
650
4
72
32
33
Follow us
25
Institution
Employer
Score
United Kingdom 100.0
Country
Avg GMAT Avg Years
Score
Work
700
6
% Intern’l
97
www.TopMBA.com
2014
Rank
34
2013
Rank
Academic
Score
12.6
Overall
Score
16.3
35
60
University of Strathclyde Business School
United Kingdom
7.7
55.1
14.8
660
10
36
36
Ashridge Business School
75
United Kingdom
15.2
6.4
13.9
600
13
87
Lancaster University Management School
United Kingdom
1.5
75.1
12.5
601
8
91
Institution
Aberdeen Business School, The Robert Gordon University
37
Employer
Score
United Kingdom 16.9
Country
Avg GMAT Avg Years
Score
Work
N/A
5
23
% Intern’l
96
38
51
Aston Business School, Aston University
United Kingdom
4.6
52.9
11.9
600
7
65
39
31
Smurfit School of Business, University College Dublin
Ireland
7.2
35.5
11.5
630
8
90
40
52
Durham Business School, Durham University
United Kingdom
8.2
29.7
11.4
650
8
84
41
50
EMLYON Business School
France
5.6
43.4
11.3
600
7
90
42
47
Amsterdam Business School, Universiteit van Amsterdam
Netherlands
2.5
57.8
10.8
630
4
48
43
Kingston Business School, Kingston University
United Kingdom
6.7
33.1
10.7
550
3
62
44
Aalto University School of Business
Finland
1.5
59.0
10.1
590
8
76
45
Audencia Nantes School of Management
France
7.2
20.9
9.3
580
8
15
IAE Aix Graduate School of Management, Université Paul Cezanne (Aix-Marseille III)
France
7.2
17.3
8.7
550
5
53
Aarhus School of Business, Aarhus University
Denmark
1.5
49.4
8.7
N/A
5
40
46
54
47
48
46
University of Exeter Business School
United Kingdom
7.2
16.2
8.6
600
8
40
49
43
Faculdade de Economia, Universidade Nova de Lisboa
Portugal
8.8
6.9
8.5
617
5
95
50
Universidad Carlos III de Madrid
Spain
4.1
31.1
8.2
N/A
4
13
51
Athens University of Economics and Business (AUEB)
Greece
6.1
16.0
7.6
616
4
50
ALBA Graduate Business School
Greece
8.2
3.6
7.5
600
7
80
International Organisations MBA, University of Geneva (HEC)
Switzerland
6.1
12.5
7.1
500
5
100
52
56
53
54
Bradford University School of Management
United Kingdom
2.5
30.9
6.8
600
6
100
55
Maastricht School of Management
Netherlands
1.5
35.0
6.5
600
5
70
56
Nyenrode Business Universiteit
Netherlands
6.7
5.2
6.5
600
6
80
57
Hull University Business School
United Kingdom
3.0
25.3
6.4
N/A
3
88
HHL - Leipzig Graduate School of Management
Germany
4.6
16.0
6.3
630
5
96
59
School of Management, Royal Holloway
United Kingdom
5.6
9.7
6.2
575
3
84
60
Koç University
Turkey
4.6
13.6
6.0
600
3
87
61
Brunel Business School, Brunel University
United Kingdom
2.5
25.3
5.9
N/A
7
80
62
Middlesex University Business School
United Kingdom
3.0
21.9
5.8
N/A
7
22
63
Management School, The University of Sheffield
United Kingdom
2.0
26.7
5.7
600
5
90
58
53
37
64
26
Vlerick Leuven Gent Management School
Belgium
1.5
29.4
5.7
600
6
40
65
47
LUISS Business School
Italy
6.1
3.1
5.7
N/A
3
97
Follow us
24
2014/15 QS Global 200 Business Schools Report
A close battle for first place in Europe ended with London Business School dethroning France’s
INSEAD from the No. 1 spot, a position it has held for more than a decade. With perfect scores
among international MBA employers and near-perfect academic scores, the two have a profile that
far exceeds that of any other school in the region, and places them alongside Harvard Business
School at the top of the global hierarchy. But in the end, it was academic reputation that allowed
LBS to topple INSEAD by the narrowest of margins.
Beyond the top two there has been a shift in the hierarchy this year, with Saïd Business School at
Oxford University climbing one spot to third place and HEC Paris leapfrogging numerous rivals
from 10th place to the No. 4 spot. SDA Bocconi School of Management rounds out the top five.
Among the top 10 schools, there was one newcomer: Judge Business School at the University of
Cambridge, which rose three spots to No. 10. Copenhagen Business School, falling three spots to
No. 12, was the only school to drop out of the top 10.
Of the 65 schools on the list, the United Kingdom dominates by far, with 26 schools represented,
followed by France (9), Spain (5), Switzerland (4), Germany (4), the Netherlands (4), Italy (3), Denmark
(2), Ireland (2), Greece (2), Finland (1), Portugal (1), Turkey (1), and Belgium (1).
The methodology change resulted in big swings for many schools, with nine schools gaining more
than 10 spots – in some cases far more than that. The University of Strathclyde Business School,
Cass Business School, Business School Lausanne, and Grenoble Graduate School of Business all
gained 20 spots or more.
Unlike North American programs, the GMAT scores at European schools vary widely. Even among
the top 10, they vary from a high of 702 for INSEAD to a low of 600 for Saïd Business School and
SDA Bocconi – a range of 102 points, compared to a 31-point spread in North America.
In this aspect of the battle for MBA talent, Germany appears to be winning in Europe. German
schools report average GMAT scores of 636, followed by Spain (614), France (610), Netherlands (601),
the UK (600), and Switzerland (595).
But in terms of winners and losers, the UK clearly comes out ahead. Among countries with four or
more ranked schools, Spain and Switzerland have as many schools with gains as losses, Germany
has more losers than winners, while the Netherlands and France have more winners. Neither one
topped the UK though, with 22 schools advancing in the ranking (including nine that were not
ranked last year), and only two retreating.
Follow us
QS Global 200 Business Schools
Report 2014/15
7.0
Top business schools
by region:
Asia-Pacific
26
2014/15 QS Global 200 Business Schools Report
2014
Rank
1
2013
Rank
1
Institution
Country
Singapore
Employer
Score
76.9
Academic
Score
99.6
Overall
Score
80.3
INSEAD - Singapore
2
4
NUS Business School, National University of Singapore
3
12
4
Singapore
34.1
99.9
44.0
672
5
97
The HKUST Business School
Hong Kong
18.0
98.0
30.0
669
6
95
19
Faculty of Business and Economics, The University of Hong Kong
Hong Kong
18.0
94.8
29.5
664
5
86
5
10
Nanyang Business School, Nanyang Technological University
Singapore
18.0
89.2
28.7
650
5
38
6
7
Beijing International MBA Programs-BiMBA, Peking University
China
17.4
84.9
27.5
550
6
70
7
3
Melbourne Business School, The University of Melbourne
Australia
12.5
97.6
25.3
600
5
14
8
2
Indian Institute of Management, Ahmedabad
India
20.2
48.8
24.5
711
10
67
9
8
AGSM MBA Programs, University of New South Wales
Australia
12.0
93.6
24.2
630
7
25
10
20
Graduate School of Business, Seoul National University
Korea, South
10.4
85.3
21.6
510
5
70
11
14
College of Business and Economics, The Australian National University ANU
Australia
8.8
93.8
21.6
500
5
80
12
18
The Chinese University of Hong Kong
Hong Kong
9.3
90.1
21.4
650
5
10
13
5
Indian Institute of Management, Bangalore
India
12.0
43.6
16.7
-
2
69
14
23
La Trobe Business School, La Trobe University
Australia
13.6
30.2
16.1
640
7
19
15+
17
Faculty of Business and Economics, Monash University
Australia
3.0
84.9
15.3
600
9
90
15+
26
Guanghua School of Management, Peking University
China
3.0
84.9
15.3
640
5
61
17
9
Indian Institute of Management Calcutta
India
11.4
34.6
14.9
-
2
35
18
16
School of Management, Fudan University
China
4.1
70.7
14.1
650
5
3
UQ Business School, University of Queensland
Australia
1.5
85.2
14.1
-
10
45
19
Avg GMAT Avg Years
Score
Work
702
6
% Intern’l
70
20
21
School of Economics and Management, Tsinghua University
China
1.5
79.5
13.2
-
6
72
21
31
Lee Kong Chian School of Business, Singapore Management University
Singapore
4.6
61.8
13.2
652
6
75
22
15
Sydney Business School, University of Wollongong
Australia
11.4
18.1
12.4
-
6
39
23
11
China Europe International Business School (CEIBS)
China
9.3
27.5
12.0
692
5
90
24
13
Macquarie Graduate School of Management, Macquarie University
Australia
4.1
54.3
11.6
680
10
70
25
34
Graduate School of Business and Law, RMIT University
Australia
5.6
43.5
11.3
600
5
73
26
25
Waseda Business School
Japan
3.5
46.0
9.9
550
5
60
UWA Business School, The University of Western Australia
Australia
1.5
54.4
9.4
610
6
50
27
28
22
The University of Adelaide Business School
Australia
3.5
42.4
9.3
550
5
13
29
6
Indian School of Business
India
8.2
13.7
9.0
711
5
70
30
29
QUT Brisbane Graduate School of Business
Australia
2.5
42.4
8.5
550
3
15
Follow us
www.TopMBA.com
27
It’s no surprise that INSEAD’s Singapore program retained its grip on the Asia-Pacific title this year.
Its reputation among international MBA employers exceeds that of all other business schools in the
region several times over and its academic reputation is among the very best in the world, giving it
an overall profile not unlike that of some of the top schools in Europe and the United States.
But below the coveted No. 1 spot, this regional ranking underwent dramatic change, with
Singapore solidifying its hold on the top of the list, two Hong Kong schools coming out of nowhere
to establish a formidable foothold in the top five, and India losing three of its four top 10 spots
including those held by IIMs in Bangalore and Calcutta as well as the prestigious Indian School of
Business.
New to the top 10 this year are the No. 3 HKUST Business School, up nine spots from last year,
the No. 4 Faculty of Business and Economics at the University of Hong Kong, up 15 spots, and the
Graduate School of Business at Seoul National University, which jumped 10 spots on the strength
of a powerful academic reputation to take the No. 10 spot.
While Singapore is now firmly ensconced at the top of the list, it’s Australia that dominates the
list itself, with a total of 12 programs making the cut, including two top 10 programs, Melbourne
Business School and the AGSM MBA program at the University of New South Wales. China is next,
with five programs on the list, followed by Singapore (4), India (4), Hong Kong (3), South Korea (1),
and Japan (1).
GMAT scores in the region average 625, a full 26 points higher than those in Europe, but 26 points
shy of those in North America.
The academic reputation of the Asia-Pacific schools, however, is far better than either – 66.4 to
North America’s 42.5 and Europe’s 44.2 – with fewer schools having academic scores below 40 (17%
compared to half of all schools in Europe and North America). Consistent high academic quality
among virtually all schools is one of the defining attributes of the Asia-Pacific market. The highest
academic scores are enjoyed by schools in Hong Kong (94.3), followed by Singapore (87.6), China
(69.5), Australia (61.7), and India (35.2).
Follow us
QS Global 200 Business Schools
Report 2014/15
8.0
Top business schools
by region:
Latin America
www.TopMBA.com
2014
Rank
1
2013
Rank
1
Institution
Country
EGADE-Tecnológico de Monterrey, Campus Monterrey
2
2
Pontificia Universidad Católica de Chile
3
6
4
5
5
Avg GMAT Avg Years
Score
Work
628
8
29
Mexico
Employer
Score
14.2
Academic
Score
76.2
Overall
Score
23.5
Chile
12.5
66.8
20.7
500
3
15
Universidad de Chile
Chile
8.2
55.9
15.4
500
15
15
Instituto Tecnológico Autónomo de México (ITAM)
Mexico
7.2
58.2
14.9
580
7
85
Universidad Adolfo Ibáñez
Chile
5.6
36.5
10.2
610
4
70
% Intern’l
10
6
8
INCAE Business School
Costa Rica
7.2
25.9
10.0
550
5
60
7
4
Fundacao Getulio Vargas
Brazil
1.0
53.3
8.9
550
5
60
8
7
IAE Business School, Universidad Austral
Argentina
4.1
28.2
7.7
651
5
-
Universidad Diego Portales
Chile
6.1
9.9
6.7
550
5
9
IPADE Business School, Universidad Panamericana
Mexico
4.1
15.5
5.8
608
4
-
9
10
10
A total of 10 Latin American schools earned a place on the Global 200 list this year. Chile dominates the list
with four schools, followed by Mexico with three and Costa Rica, Brazil, and Argentina with one school each.
Mexico’s EGADE-Tecnológico de Monterrey, Campus Monterrey, Latin America’s top school for both employer
recognition and academic reputation, retains the No. 1 spot, followed by Pontificia Universidad Católica de
Chile, which also occupies the same position as last year.
The top school for GMAT scores was once again Argentina’s IAE Business School, Universidad Austral, with
an average score of 651. Four of the 10 schools this year reported average GMAT scores that topped 600 –
unchanged from last year – an impressive achievement in a region where the average score is 573.
Two schools fell out of the ranking this year: Brazil’s BSP–Business School Sao Paolo, which ranked third
last year, and Peru’s ESAN, Escuela de Administracion de Negocios para Graduados, which ranked ninth—
while two Chilean schools, unranked last year, joined the group: Universidad Adolfo Ibáñez at No. 5 and
Universidad Diego Portales at No. 9.
Universidad de Chile was the big gainer, advancing three spots to No. 3, followed by Costa Rica’s INCAE
Business School, which moved up two spots to No. 6, and Instituto Tecnológico Autónomo de México (ITAM),
which moved up one spot to No. 4.
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QS Global 200 Business Schools
Report 2014/15
9.0
Top business schools
by region:
Middle East &
Africa
www.TopMBA.com
2014
Rank
1
2013
Rank
Saudi Arabia
Employer
Score
1.5
Academic
Score
29.0
Overall
Score
5.6
2
4
Egypt
2.5
15.3
4.4
583
3
3
Graduate School of Business, University of Cape Town
South Africa
1.5
20.3
4.3
580
7
6
5
The Suliman S. Olayan School of Business, The American University of Beirut
Lebanon
2.5
4.4
2.8
610
7
19
2
University of Witwatersrand
South Africa
1.0
9.2
2.2
500
4
19
Institution
Country
College of Industrial Management (CIM), King Fahd University
American University in Cairo
1
4
5
Avg GMAT Avg Years
Score
Work
5
31
% Intern’l
10
23
The battle for dominance in the Middle East & Africa this year was won, and lost, on academic reputation.
Unranked last year, the College of Industrial Management at King Fahd University, with the highest academic
score in the region, took the No. 1 spot from the Graduate School of Business at the University of Cape Town,
which fell to No. 3. The American University of Sharjah in the United Arab Emirates fell out of the ranking
this year.
The American University in Cairo rose two spots to No. 2, while the Suliman S. Olayan School of Business at
the American University of Beirut rose one spot to No. 4.
As a group, the schools in Middle East & Africa are the least international in the world, with the number
of international students ranging from a high of 23% at American University in Cairo to a low of 6% at the
Graduate School of Business at the University of Cape Town. They also lack significant recognition from
international MBA employers.
But on academic reputation some schools in the region, such as King Fahd and Cape Town, enjoy the kind of
profile enjoyed by some lower-ranked schools in the US and Europe.
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32
2014/15 QS Global 200 Business Schools Report
Media and Organization Partners
QS wishes to thank the following media and organization partners for contributing to the QS Global
Employer Survey, the largest survey of its kind. The findings of the survey inform the QS Global 200
Business Schools Report 2014/15 and other independent QS research.
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QS Quacquarelli Symonds Ltd
QS is the world’s leading information network for top careers and education. QS
links high achievers from the graduate, MBA and executive communities around the
world with leading business schools, postgraduate departments at universities and
with employers, through websites, events, e-guides and technical solutions.
QS organizes the largest business educati on event in the world, the QS World MBA
Tour and an extensive product range including print and online publications and
software solutions. It produces the annual TopMBA.com Applicant and Recruiter
Research and several annual reports including the Global 200 Top Business Schools:
The MBA Employers’ Choice and the annual QS World University Rankings®.
Website: www.TopMBA.com
All information © QS Quacquarelli Symonds Ltd 2014