To get a good job in business, a degree from a good business school is a big advantage. This year, Bloomberg Businessweek ranks the country's best B-schools from a field of 84, based on feedback from those best qualified to know their strengths and weaknesses—students, recent graduates and employers who recruit MBAs.
Two decades ago, Michael Loo was one of those recent MBA graduates. Today, he is an independent financial advisor in Irvine, Calif., affiliated with the LPL Financial platforms through Trilogy Financial and its affiliate, Trilogy Capital.
Loo has worked with Trilogy since 2002, the same year he graduated with an MBA from the University of Southern California's Marshall School of Business, ranked No. 22 in this year’s "Bloomberg Businessweek’s Best B-Schools of 2019-20."
In a July 20, 2018, post on Loo’s blog, entitled “How an MBA Prepared Me for My Career as a Financial Advisor,” he discussed the value of a graduate business degree to his career as a financial advisor.
“Over the course of hundreds of conversations with clients, I’ve found that quite a few of them have wrestled with the idea of whether they should go back to school for an advanced degree,” Loo wrote. “The risk/return analysis is not always cut-and-dried in this situation. Investing X amount of dollars in a degree program does not always result in an equal or higher return in the future.”
According to Loo, enrolling at the Marshall school and earning an MBA there was the best decision he ever made.
“USC is known for networking,” he wrote. “This skill alone has helped me immensely in my career when it comes to collaborating with a client’s other professionals.”
Loo also found during his time at USC that multitasking, as well as networking, was an invaluable skill that followed him into his post-graduate career as a financial advisor.
“My job today is multifaceted and includes many tasks,” he wrote. “Knowing that I was able to handle my heavy load in the past gives me confidence that I can prioritize my work today.”
While Loo praised his education at USC, prospective MBA students seeking the same educational value may have different criteria in mind when selecting a graduate business school.
Each school in the Bloomberg Businessweek list is ranked on compensation, learning, networking, entrepreneurship, total graduates and median base salary. School profiles include overall ranking, change from last year’s ranking, the average Graduate Management Admission Test (GMAT) score, and tuition during the 2019-20 school year. Upon calculation of the result, each school receives an overall rank and overall score.
Below, in ascending order, are Bloomberg Businessweek’s top 10 best B-schools of 2019-20.
10. Kellogg School of Management, Northwestern University
More than 40 years ago, Northwestern University’s Kellogg School of Business first pioneered the practice of teamwork in management education and corporate leadership. Applicants that want an MBA from this prestigious school will need an average GMAT of 730 and deep pockets to afford the $75,134 tuition. Overall rank: 88.7.
9. Columbia Business School, Columbia University
Established in 1916, Columbia University’s Columbia Business School in New York City is one of the oldest business schools in the world. With a tuition of $85,698 for U.S. students, it is now one of the most expensive as well. You’ll need an average GMAT of 740 to get in. Expect to earn a median base salary of $130K after graduation. Overall rank: 90.1.
8. Walter A. Haas School of Business, University of California (USC), Berkeley
Also known as Berkeley Haas, the school offers full-time and part-time MBA and Ph.D. degrees. Out-of-state residents pay a tuition of $64,844 and California residents pay $62,639. All applicants need an average GMAT of 730. Graduates earn a median base salary of $125K. Overall rank: 90.2.
7. MIT Sloan School of Management, Massachusetts Institute of Technology
Located in Cambridge, Mass., Sloan School of Management is one of the most selective business schools in the world. You’ll need to score a 727 GMAT and be able to pay the $79,368 tuition to get in. Employers are impressed by a Sloan MBA; the school earned a 94.9 in compensation. Overall score: 90.6.
6. The Wharton School of the University of Pennsylvania
Established in 1881, the Wharton School in Philadelphia is the world’s oldest collegiate school of business. If you score 740 on the GMAT and can pay the $81,378 tuition, your reward is an Ivy League MBA. The school received a perfect 100 in compensation, but only a 50.4 in learning and 65 in entrepreneurship. Overall score: 91.4.
5. Darden School of Business, University of Virginia
Located in Charlottesville, Va., students at the Darden School of Business learn through the case method, earning the school a 97 in learning. To benefit from this top 10 school’s rigorous coursework, you’ll need to score a 720 on your GMAT and $72,330 for the tuition. Graduates earn a median base salary of $125K. Overall score: 91.5.
4. The University of Chicago Booth School of Business
Although the University of Chicago and its Booth faculty have produced more Nobel laureates in the economic sciences than any other school, Booth received only a 78 in learning. You’ll need to score at least 730 on the GMAT and pay a tuition of $76,073 to get in. The school’s MBA is well-respected; it received a 93.4 in compensation. Overall score: 91.7.
3. Harvard Business School
Harvard Business School, located in Boston, has the survey’s top 10 largest graduating class of 920 MBA students. If you score 730 on the GMAT and can afford the $75,990 tuition, your MBA from this Ivy League school will impress employers; the school received a 98.1 in compensation. Overall score: 92.5.
2. Tuck School of Business, Dartmouth College
This Ivy League business school in Hanover, N.H., says it aims to produce curious and creative leaders with practical skills applicable in the real world. Tuck received a perfect 100 in networking, but a mediocre 68.2 in entrepreneurship. Employers are impressed with a Tuck education; the school received a 93.5 in compensation. You’ll need a 720 GMAT and $78,597 tuition to attend. Overall score: 94.5.
1. Stanford Graduate School of Business
With a graduating class of 423 MBAs, the Stanford Graduate School of Business, known as GSB, has a graduating class half the size of Harvard’s. GSB is located in Stanford, Calif., the heart of Silicon Valley and venture capital, making it a natural incubator for great business ideas. The school received a perfect 100 in compensation and entrepreneurship. Tuition is $74,920. Overall score: 100.
