US MBA rankings are one of the main resources students consult when researching MBA programs in the US. In the US, a whole industry has arisen focused on ranking universities and colleges, including MBA programs. Some of the most commonly-consulted annual MBA rankings of US business schools are those published by Business Week, Forbes, US News & World Report.
But don't just consult US sources: the Financial Times of London publishes an annual ranking of the top full-time US MBA programs, and American business schools regularly place on both the list of top North American schools and of top international schools. Therefore, international publications can also be consulted for US MBA rankings, for example the general world university rankings by publications like The Times Higher Education Supplement (THES) from the UK and the Academic Ranking of World Universities (ARWU) based in Shanghai, China. These general rankings are designed to identify the "best" graduate and undergraduate institutions according to quality and value.
How then should these rankings be interpreted? First, the ranking reports often come with detailed data to support conclusions, and while data collection may be criticized, the editors of these reports usually make an effort to ensure that statistics are comparable. So the reports can be used by you to compare institutions and schools on the basis of the data provided.
However, rankings differ greatly in their methodologies and, therefore, their results. Some universities themselves criticize the ranking process and refuse to participate (by not providing requested data). Therefore, if you were to use rankings as your main tool for judging business schools in the US, you may overlook some excellent MBA programs. So be aware of who established the rankings in question and what and how they collect and interpret their data.
All MBA rankings have one other thing in common - they are a list of institutions and schools. Scanning the list might suggest a business school in the US that you had not considered or perhaps even heard of. Used this way, rankings can help expand your list of schools that can then be researched in more detail.
Therefore, you should never judge an MBA program based on business school rankings alone. Rankings are important, but there are other factors that need to be taken into consideration. Schools that are less prominent may have an MBA program that suits your needs better than any nationally ranked schools, and are generally less expensive. Lesser known regional schools can also be a good choice if you wish to remain close to home while undertaking your studies. Often times, these schools have the strongest relationships with local industries and employers. Once you have accumulated this information, you can create your own US MBA rankings.
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