The career success of its graduates has placed Wake Forest University’s Babcock Graduate School of Management among the world’s best graduate business programs in the Financial Times’ eighth annual ranking released Monday.
Babcock ranked No. 70 in the world and No. 43 among U.S. graduate business programs in the Times’ 2006 global 100. Although 477 graduate business programs around the world – and 398 U.S. schools alone – are accredited by the AACSB International ~ The Association to Advance Collegiate Schools of Business, only 149 schools met the Times’ requirements to be considered for the ranking. The top 100 included 57 U.S. and 43 non-U.S. schools.
The ranking was based on surveys of full-time MBA graduates from the class of 2002. Calculations for measuring the career development and salary purchasing power of those graduates represented 59 percent of the survey data. Career success was measured by collecting data on alumni salaries three years after graduation, the percentage increase in alumni salaries from before their MBA studies through three years following their graduation, career placement success, career progression, post-MBA aims achieved and international job mobility.
“It’s rewarding to see the Babcock School gain this kind of international recognition,” Dean Ajay Patel said. “One reason this ranking is particularly significant for us is that the bulk of the data is provided by our alumni. Their success drives our global standing in this survey.”
Within the survey results, Babcock ranked 14th among U.S. schools and 20th in the world for percentage increase in salary reported by alumni during the three-year period. The weighted average salary increase was 135 percent, computed from salaries reported from the classes of 2000, 2001 and 2002.
The school also was 19th among U.S. schools and 29th in the world for percentage of alumni reporting that their aims had been achieved (81 percent), and was 29th among U.S. schools for “value for money,” determined by taking alumni salaries three years after graduation and subtracting course costs and the opportunity cost of not working while attending MBA school.