New FT MBA rankings
January 30, 2012 
2 Comments
To the dismay or pleasure of business schools across the world, the FT’s 2012 ranking has been released. LBS has lost the no. 1 title, but still puts in a strong show, at no. 4.
See the full list here.
A few thoughts on the rankings game:
Power of brand: Any ranking that doesn’t place some combination of Harvard, Wharton and Stanford in the top three will forever attract scepticism. Now there are very good reasons to put these schools at the top of the pile. But when doing my initial research into programmes, criticism of and anger about the FT’s ranking (which placed LBS at no. 1 in 2011) seemed quite detached from a clear headed opinion about its methodology.
I’m not proposing to justify one ranking over another, but there is a perception of what the league table should look like; any deviation from prior expectations must be wrong, and the methodology behind it presumably flawed. Clearly, not everyone has such a black and white view, but it’s a view that exists. And it’s a testament to the value of brands built up over time.
Should the rankings matter to you? Yes.
A career is a long time and ‘good people’ will have a perfectly fine life irrespective of whether they go to the top ranked school or the 20th ranked school, or whether do an MBA at all. But if you’re going to do it, best to give yourself the best odds of coming away with a job/venture/whatever that you’re happy about. And in that respect, a top 10 school (by whatever ranking you prefer) will give you more options (via recruiters, alumni base, etc.) than one much further down the hierarchy. What happens on day one post-graduation affects the path you’ll take in subsequent years. So for anyone looking to move into a competitive field or to switch careers, money saved today shouldn’t be the main consideration. The difference between being happy with your job vs. being vaguely satisfied doesn’t fit nicely into an Excel ROI calculation.
Does that logic extend to say the choice between say a school ranked 3rd and one ranked 5th?
Theoretically yes, but worth remembering that: a) rankings aren’t stable year on year, b) there’s no unanimity as to the best ranking anyway. If general consensus places two schools that close together, other factors should probably swing the decision; e.g. location and general ‘feel’.
Should the 2012 ranking matter to LBS? Yes.
The ranking is a result of achievements in many different areas. The weight to be put on any one area is up for debate, but improvement should be sought across the board. Keep getting better, and things should work out fine. You may not be no. 1 as judged by XYZ ranking, but you probably won’t be far off.
Those who were on exchange in term one are now back on campus. Discussions have I’ve had suggest that people have come away feeling very positive about the LBS experience having seen how things are done elsewhere. You could put it down to a self-serving bias, but this is a class that certainly wasn’t shy about highlighting LBS’s areas for improvement during the first year. If there’s a heightened appreciation for the school has achieved in a relatively short time, then it’s probably for good reason.
