What do MBA rankings mean?
The early stages of researching and analyzing various B-schools and MBA programs can be tedious.
These days we are seeing a steady increase in the number of colleges providing management courses.
This adds to the burden of narrowing down your search to a number you could deal with. This is where
the MBA rankings come to your rescue.
MBA rankings are the compilation of the MBA programs and the universities available in a certain order and ranking them based on various criteria. It aggregates most of the data about the program and gives an orderly list. They form the greatest tool for the aspirants to make a decision and shortlist their preferences.
Importance of rankings:
Not only for the students but the institutions also gain from the ranking system. They work hard to top the list. If one of their programs is compared with the top-notch institutes, their value boosts up and will be reflected in their admissions.
It essentially acts as a driving factor for the colleges to give the best quality education to keep up in the race of ranking. Without ranking, the competition may be limited thus affecting the quality upgradation. The ranking helps understanding which school is good at providing leadership or entrepreneurship skills. You may compare based on the cost of completion of the course or campus life. It acts as an indicator for a student to choose the program or school that best suits their needs.
A good ranking also affects your resume. A graduate from a high ranking college is always preferred to t
The ranking methodology has been carried out for a very long time but the tremendous increase in popularity is seen after the blowout of internet trends. The rankings were previously subjected to premium business magazines that were not easily accessible to everyone. The Internet has opened gates for everyone to view and review the rankings. As a result, there are lots of publications who started to rank based on different criteria.
The rankings depend on what indicator the particular publication considers important and how much weight is given to each of it. The interpretation is viable only if you understand the method used in ranking and then choosing the best you need.
Some rankings are done based on the employability factor of the students graduating from the program. They may consider the average income the alumni are receiving. Some conduct surveys based on the recruiter's preference, the overall performance of the students, student satisfaction, faculty quality, etc… Though the criteria used may seem confusing, the key is to define your goals and research the ranking based on the relevant criteria for you.
Lexicon MILE, the Management Institute of Leadership & Excellence, is ranked 29th by the Times of India and is one of the Top 50 B-Schools in all prominent Business Surveys conducted by Business Journals & Magazines like Business Standard, Business World, etc… We strive hard to give you a world-class education.