According to the recent release of the 2024 MBA program rankings by Bloomberg Businessweek, the top business schools in four regions were selected. Stanford University ranked first in the United States, and globally, Stanford University also claimed the top spot.
In the U.S. rankings by Bloomberg Businessweek for the best business schools, the top positions remained relatively stable with some exceptions and surprises. For instance, Stanford University secured the top position for the sixth consecutive year, excelling not only in diversity but also scoring high in compensation, learning experience, networking, and entrepreneurship.
Carnegie Mellon University’s Tepper School of Business jumped from 18th place last year to 9th this year, with significant improvements in networking and learning scores. Northwestern University’s Kellogg School of Management moved up from 7th to 3rd place.
On the other hand, Columbia Business School dropped from 5th place last year to 17th this year, showing decreased scores across all evaluation criteria, particularly in compensation. The starting salaries for Columbia graduates and students were lower, and alumni satisfaction with compensation was also lower. USC Marshall School of Business fell 13 places to 30th, notably declining in compensation, learning, and diversity scores.
Here are the top 10 business schools in the U.S.:
1. Stanford Graduate School of Business
2. University of Chicago Booth School of Business
3. Northwestern University Kellogg School of Management
4. Dartmouth College Tuck School of Business
5. University of Virginia Darden School of Business
6. Harvard Business School
7. University of Pennsylvania Wharton School
8. University of Michigan Stephen M. Ross School of Business
9. Carnegie Mellon University Tepper School of Business
10. MIT Sloan School of Management
Bloomberg Businessweek’s MBA rankings focus on the U.S., Europe, Canada, and Asia-Pacific regions, with a different methodology for the U.S. rankings compared to those outside the United States. Diversity is just one of the metrics in the U.S. rankings.
Nevertheless, Bloomberg Businessweek provides an overall index score for each MBA program listed, allowing users to create a true global ranking based on these scores.
When ranking schools globally based on index scores, four of the top ten are in Europe, namely the International Institute for Management Development in Lausanne, IESE Business School in Barcelona, SDA Bocconi in Milan, and London Business School in the UK. These schools rank higher than Harvard Business School, with IMD leading Kellogg, Wharton, MIT Sloan, and Tuck.
However, Stanford University remains the top school globally with the best MBA program, while the University of Chicago Booth School of Business retains the second position.
Among the top 25 business schools globally, none from Canada or the Asia-Pacific region made the list. In contrast, European business schools dominate after those in the U.S. Among the top 25 globally, seven are in Europe, while the remaining 18 are in the U.S.
Here are the top 10 global business schools, their scores, and locations:
1. Stanford Graduate School of Business: 88.8, U.S.
2. University of Chicago Booth School of Business: 86.2, U.S.
3. International Institute for Management Development in Lausanne: 86.1, Europe
4. IESE Business School: 85.8, Europe
5. SDA Bocconi: 85.5, Europe
6. Northwestern University Kellogg School of Management: 85.5, U.S.
7. Dartmouth College Tuck School of Business: 85.4, U.S.
8. London Business School: 85.2, Europe
9. University of Virginia Darden School of Business: 84.8, U.S.
10. Harvard Business School: 84.2, U.S.
European MBA education observers generally consider INSEAD and London Business School as the best business schools in Europe. However, Bloomberg Businessweek evidently disagrees, rating IMD in Lausanne as the school with the best MBA program in Europe.
IMD offers one of the most diverse and differentiated MBA experiences globally. While many MBA programs are commoditized, IMD is not. The school’s 12-month program was initially designed for corporate executives, emphasizing personal coaching and development. It features significant experiential learning with top companies and a month-long immersive experience in the school’s Future Lab.
Here are the top 10 European business schools:
1. International Institute for Management Development (IMD)
2. IESE Business School
3. SDA Bocconi
4. London Business School
5. INSEAD
6. University of St. Gallen (HSG)
7. University of Oxford Saïd Business School
8. Cambridge Judge Business School
9. Esade Business School
10. Mannheim Business School