Forbes ranks MSU's MBA program... -
August 11th, 2011
MSU’s full-time Master of Business Administration, or MBA, program, has been ranked sixth in the country among all public universities by Forbes in the magazine’s most recent biennial ranking.
The popular business magazine also ranked MSU 19th among all university MBA programs across the country, based on a system that calculates a student’s return on investment, or ROI. Their method looks specifically at a graduate’s salary compensation in their first five years working post-graduation and compares that figure to the subject’s opportunity cost — two years of tuition, fees and foregone salary as a result of time spent in school.
Forbes’ ranking determined that MBA graduates from the Eli Broad College of Business experienced a five-year gain of about $77,000 as a result of their MSU degree. Average tuition for an MSU MBA student is $77,000, according to the ranking, and Forbes calculated an MSU MBA graduate from the class of 2006 made, on average, about $109,000 in 2010.
Harvard University topped the magazine’s list with a five-year gain of $118,000 for the average MBA graduate.
The University of Virgina was the only public university listed in the magazine’s overall top 10, with an average five-year gain of $99,000 for graduates.
The University of Michigan’s MBA program sat five spots ahead of MSU among all universities listed in the ranking. Forbes calculated it would take the average U-M graduate about 3.6 years to pay back all expenses incurred from attending the program, while the ranking said an MSU student would reach the same threshold in about 3.1 years.
MSU’s program was ranked seventh among all public universities as recently as last November by Bloomberg Businessweek, after sitting outside the top 20 in 2008.
Several program officials were pleased with the ranking.
“It’s significant for prospective students, faculty and staff that we’re doing a great job,” said Karyll Shaw, the associate dean for MBA and Professional Master’s programs at the school. “It helps us attract a better applicant for the future.”
Among rankings issued by major magazines, Shaw said the Forbes ranking is one of about four that college officials typically follow, along with Bloomberg BusinessWeek and U.S. News and World Report.
That publication placed MSU in a tie for 49th with conference rival Purdue University in its 2011 survey of about 437 MBA programs nationwide.
The college’s national standing remains important, but college officials say that focus hasn’t kept them from working with students.
“Personally, what I think is important is to make sure the student experience is effective,” said Maureen Hall, the director of the full-time MBA program. “With that will come the recognition the program deserves.”
General management freshman Jordan Goldstein believes high rankings from national publications might improve his chances at a job when he leaves MSU.
“When I get out of school, they’re definitely going to look back and say I didn’t go to any business school — I went to a highly-ranked and respected business school,” he said.