Bloomberg needs to rethink their business school rankings

I mean we’re good, but not that good

On Tuesday, April 19th, Bloomberg released their 11th undergraduate rankings for B-schools. With close to 30,000 students and nearly 600 companies interviewed, these results are considered more or less definitive by students all across the United States. I woke up the next morning to an email informing me that Ohio State now holds the #14 spot in the country for undergraduate business programs.

I mean we’re good, but not that good.

The biggest shocker was how UPenn’s Wharton School of Business received a measly #16 ranking despite being unanimously considered one of the top programs in the country. Villanova on the other hand topped the list despite a #72 ranking on Forbes list of top colleges in 2015. To be fair, Forbes’ list accounts for all majors, not just business school, but let’s be real; something is amiss. I’ll admit that I’m no statistician, but there’s a few things in particular Bloomberg needs to consider next time.

40 percent of each school’s score is based off of feedback from companies who hired graduates. While this makes sense in theory, it’s important to remember different industries will have different standards for feedback. Wharton, for example, is a top-tier school and funnels a great deal of students into investment banking. IB requires 80+ hours a week of intensive work, and it stands to reason that recent graduates will have a tougher time meeting employers standards in this field.

35 percent of each school’s score is based off of student’s satisfaction with their undergraduate experience. Another factor that wasn’t properly accounted for was which specializations each school is known for. Accountants are in very high demand currently, so schools with a focus on accounting will have a higher rate of students placed with jobs right after graduation. Students who actually get a job right after college are far more likely to give a positive satisfaction rating than their unemployed counterparts. Indiana, Texas, and Notre Dame are all known for their accounting programs, and guess what; they’re all ranked in the top 10.

I’m not saying the colleges on these lists are subpar. In fact, I love Ohio State and I’m proud of the education they’ve given me. That being said, it’s important to avoid misguidedly inflating our egos, and Bloomberg’s flawed rankings have done just that.

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