Importance of Mba Ranking

Topics: Business school, Master of Business Administration, Tuck School of Business Pages: 4 (808 words) Published: June 10, 2013
Graduate School of Business

Enhancing Your MBA’s reputation
The Role of Rankings

Why Rank the MBA?

RMIT University’s MBA was established in 1974, which makes it one of the longest running MBA programs in Australia. For many years very few Universities offered MBAs and it was relatively easy to discern quality, content and value issues. However, today’s MBA market has changed dramatically – it is crowded and highly competitive.

Ranking MBA programs has been commonplace internationally for many years, and that trend has come to Australia in recent years.

There are two major groups who provide MBA rankings in Australia:

- the Australian Financial Review (AFR) Boss Magazine - which also includes a substantive commentary, ranks MBA programs according to 4 tiers - with 1 being the highest rank and 4 the lowest, and

- the Graduate Management Association of Australia (GMAA), which also publishes the Good Universities Guide, using a 1-5 star ranking with 5 stars representing the best MBAs.

Why are MBA Rankings Important?

Rankings are one of the ways of providing a quick and simple snapshot of the quality of our MBA program relative to others.

The common misconception is that rankings are only used by prospective MBA students when deciding which program to undertake.

Increasingly however, employers are also using these rankings to make judgments about which programs they will support as part of their staff development strategies and their staff selection decisions.

In this way the rank of the RMIT MBA has a real impact on your current and future career. After all AFR-BOSS is a business magazine not an academic journal.

Where Does the RMIT MBA currently rank?

Unfortunately the RMIT MBA did not receive what the GSB considers to be an accurate rank by either organisation in 2005 and 2006.

The BOSS Rank of 2005 (it was suspended in 2006) saw the RMIT MBA drop from Tier 2, (second only to Melbourne Business School, AGSM...
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