Stanford Graduate School of Business (GSB) reclaimed its number 1 ranking in the Forbes 2013 biennial ranking of MBA programs.
The University of Chicago Booth School of Business took second, bumping Harvard Business School (HBS), which topped the list in 2011, to third place. The University of Pennsylvania’s Wharton School followed up the lead in fourth.
Forbes ranks full-time MBA programs every two years based on return on investment.
Stanford GSB graduates tied for the highest average paycheck entering the MBA program ($80,000, the same as HBS and Wharton), but their median compensation five years out from graduation ($221,000) was the best.
HBS dropped to third place. The five-year gain for HBS graduates this year was $79,600, down from $118,000 in 2011.
At the top 25 schools in the rankings, average five-year gains are only $68,000 this year, down from $118,000, on average, a decade ago.
The average five-year out salary this year ($159,000) represents an annual gain of only 1.8 percent since 2003, which is lower than the rate of inflation.
Duke University’s Fuqua School of Business saw the most movement in the Forbes ranking this year, gaining four spots to come in at No. 8.
Fuqua grads from the Class of 2008 came into their program earning an average salary of $63,000 and reported an average salary of $152,000 five years later.
The University of Virginia’s Darden School of Business went the other way, falling from ninth in the rankings in 2011 to No. 15 this year. At Darden, five-year out salaries dropped 11 percent, to $158,000, but ROI took an even greater hit due to a 15 percent increase in tuition and reduced financial aid.
For more information, please visit the Forbes 2013 MBA Rankings
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