Forbes magazine has ranked the Schulich School of Business at York University number one in Canada and among the top 10 schools in the world in return on investment (ROI) – an important measure for determining the earning power of an MBA degree. Schulich was also ranked third in the world when it comes to determining how quickly MBA graduates recoup their investment in an MBA degree. The rankings were released Aug. 6.
The Forbes global ranking, conducted every two years, measured the ROI experienced by MBA graduates from the class of 2004, five years after obtaining their degrees. Forbes surveyed 17,000 MBA graduates from 103 business schools around the world and calculated a ROI total by determining average post-MBA compensation over a five-year period minus the costs associated with attending business school (tuition, fees and foregone salary).
Right: The Seymour Schulich Building is home to York’s Schulich School of Business
Schulich was the highest ranked Canadian business school and was ranked sixth among two-year MBA programs outside the US. The British-based London Business School was ranked number one by Forbes among two-year programs outside the US, while France’s INSEAD placed first among one-year MBA programs outside the US. The Stanford Graduate School of Business was the top-ranked US MBA program.
Schulich ranked 10th in the world among two-year MBA programs in the category that measures the total ROI, with a total cumulative gain of US$59,000. When compared to the top US MBA programs, Schulich ranked fifth overall in total ROI, behind only business schools at Stanford, Dartmouth, Harvard and Chicago, and ahead of schools such as Wharton, Columbia, Kellogg and Yale. The median five-year gain for the top 50 US schools was $29,000, according to Forbes.
In the "Years to Payback" category, which measures how quickly graduates recoup their investment in an MBA degree, Schulich ranked third in the world among all two-year MBA programs at 3.6 years, a position it shared jointly with top-rated London Business School.
"The Forbes survey captures an important measure of a business school’s value – namely, the return on investment that its MBA students can expect once they graduate," said Schulich Dean Dezsö J. Horváth. "The return on investment provided by a Schulich MBA degree is not only ranked the best in Canada – it also ranks among the very best in the world."
For the full ranking results, visit the Forbes magazine Web site.