Columbia Business School

Wharton Claims the Top Spot in Financial Times’ 2024 MBA Rankings

Over the weekend, the Financial Times published its 2024 MBA Rankings. The University of Pennsylvania’s Wharton school took the top spot and Columbia Business School tied with Bocconi for the third rank. While just two U.S.-based schools cracked the top five, fifteen U.S. programs placed within the top 25. 

A few notable findings include:

  • Wharton’s top rank came as a result of its first-place finish in “research” and its strong performance in “weighted salary” (third, behind only Stanford GSB and Harvard). 

  • Stanford GSB came in 23rd overall, but was ranked the highest for “alumni network,” “weighted salary,” and alumni assessment of “aims achieved.” The program also ranked second for “career progress.”

  • Harvard Business School, ranked 11th overall, took the second spot for both “research” and “weighted salary,” and fifth for “career progress.”

  • University of Georgia’s Terry came in 40th overall, but ranked first for “value for money.” 

The rankings also took into account measures such as gender and international diversity, school environmental policies, and employment data. Check out the full rankings and the rankings for the underlying metrics, here.

2024 Rank / School

1 University of Pennsylvania: Wharton 

2 Insead 

3 Columbia Business School 

3 SDA Bocconi School of Management

5 IESE Business School 

6 Northwestern University, Kellogg School of Management

6 MIT: Sloan

8 London Business School 

9 Cornell University: Johnson

10 University of Chicago: Booth 

11 Harvard Business School

12 HEC Paris 

12 Dartmouth College: Tuck

14 Duke University's Fuqua School of Business

15 Yale School of Management

16 University of Virginia: Darden 

17 Esade Business School 

18 UCLA Anderson School of Management

19 University of California at Berkeley: Haas 

20 IE Business School 

21 New York University: Stern 

21 Ceibs

23 Stanford Graduate School of Business

24 Shanghai University of Finance and Economics: College of Business

25 ESCP Business School 

Women’s Enrollment in MBA Programs Continues to Climb

MBA matriculation is inching closer to gender parity. According to new data released by the Forte Foundation and reported by the Wall Street Journal, women make up 42 percent of 2023 MBA enrollees. This is up slightly from last year’s 41 percent and up significantly from 34 percent in 2013.

Five MBA programs did achieve gender parity: George Washington University’s School of Business, Oxford Said, Johns Hopkins Carey, U Penn Wharton, and Penn State Smeal. An additional 15 programs came close with women making up at least 44 percent of total enrollees. Among this group are some of the world’s most prestigious MBA programs. They include Northwestern Kellogg (48 percent), Stanford GSB (46 percent), MIT Sloan (46 percent), and Harvard Business School (45 percent).

Notably, two of the five programs that achieved gender parity, Oxford Said and Penn State Smeal, are one-year programs. Administrators from both schools told the WSJ that this shorter time commitment appeals to women, particularly those who carry family responsibilities.

Programs with the Highest Percentage of Female Matriculants (Fall 2023):

  • George Washington University (65 percent)

  • Oxford University-Saïd (51 percent)

  • Johns Hopkins University-Carey (51 percent)

  • University of Pennsylvania-Wharton (50 percent)

  • Penn State University-Smeal (50 percent)

  • University of Rochester-Simon (49 percent)

  • University of Toronto-Rotman (49 percent)

  • Northwestern University-Kellogg (48 percent)

  • University of Washington-Foster (47 percent)

  • Stanford Graduate School of Business (46 percent)

  • Queen's University-Smith (46 percent)

  • MIT-Sloan (46 percent)

  • Duke University-Fuqua (45 percent)

  • Harvard Business School (45 percent)

  • Alliance Manchester School of Business (45 percent)

  • Arizona State University-W. P. Carey (44 percent)

  • Columbia Business School (44 percent)

  • Dartmouth-Tuck (44 percent)

  • ESADE (44 percent)

  • Michigan State University-Broad (44 percent)

Essay Tips: Columbia Business School

Columbia’s deadlines have been released along with this year’s short answer and essay questions. If you know you’ll be applying Round I, it’s time to get started.  

Round Application Deadline Interview Decisions Final Decisions

Round 1 13 September 2023 Mid-October Mid-December

Round 2 05 January 2024 Early-mid February Late March

Round 3 03 April 3 2024 Mid-to-late April Early May

The CBS short answer and essay questions give you the opportunity to articulate your short- and long-term goals, explore how specific experiences from your past have reinforced your interest in pursuing this path, as well as how the CBS MBA will help you to be successful. This year, there is also an essay question that asks you to share one of your experiences in Inclusive Leadership. Here, you’ll be able to showcase a meaningful leadership anecdote from your past, explain how it prompted an evolution in your perspective, and elaborate on how it will help you add value to both the CBS community and your future workplace. 

Short Answer Question: What is your immediate post-MBA professional goal? (50 characters maximum) Examples of possible responses: “Work in business development for a media company.” “Join a strategy consulting firm.” “Launch a data-management start-up.”

Don’t overthink this question. State a clear post-MBA goal using straight-forward terminology that a fellow MBA would understand. Of course, you’ll want your response to be consistent with the goals you describe in Essay 1. 

Essay 1: Through your resume and recommendation, we have a clear sense of your professional path to date. What are your career goals over the next three to five years and what is your long-term dream job? (500 words)

Although the question asks about your future goals, you will want to anchor this essay in the past. Because what you’ve already done, learned, and achieved is far more important than what you haven’t— what you say you want to do in the future. In order to fully satisfy the objective of this prompt, go into your backstory and detail the key moments that influenced you and the formation of your goals. As they note in the prompt, they already have an overview of your professional path to date, but they haven’t yet gotten a deep dive into your most pivotal experiences. This essay is about connecting the dots; once the reader has taken the trip to your past, your proposed path forward will make much more sense.

Essay 2: The Phillips Pathway for Inclusive Leadership (PPIL) is a co-curricular program designed to provide students with the skills and strategies needed to develop as inclusive leaders.  Through various resources and programming, the goal is for students to explore and reflect during their educational journey on the following five inclusive leadership skills:  Mitigating Bias and Prejudice; Managing Intercultural Dialogue; Addressing Systemic Inequity; Understanding Identity and Perspective Taking; and Creating an Inclusive Environment. 

Describe a time or situation when you had the need to utilize one or more of these five skills, and tell us the actions you took and the outcome. (250 words)

To start, consider the five inclusive leadership skills: Mitigating Bias and Prejudice; Managing Intercultural Dialogue; Addressing Systemic Inequity; Understanding Identity and Perspective Taking; and Creating an Inclusive Environment. For context, review the Columbia Video Library’s offerings on Inclusive Leadership and Diversity. Now, what do each of these skills mean to you? Which one resonates most with you? Why? Which of your personal and/or professional experiences will most compellingly show how you live one of these skills in your daily life? With such a limited word count, you should choose one anecdote and explore how it impacted your perspective as well as reinforced your desire and ability to lead with inclusivity at CBS, in your community, and within the workplace. 

Essay 3: We believe Columbia Business School is a special place. CBS proudly fosters a collaborative learning environment through curricular experiences like our clusters and learning teams, an extremely active co-curricular and student life environment, and career mentorship opportunities like our Executives-in-Residence program.

Why do you feel Columbia Business School is a good fit for you academically, culturally, and professionally? Please be specific. (250 words)

The most important word in this prompt is WHY. Admissions directors already know what CBS offers to students; they want to know why their offerings resonate with you. Make the case that the CBS MBA (not just an MBA) is the perfect intersection between where you’ve been and where you want to go. Which courses, professors, experiential learning opportunities, etc. are most interesting to you? Choose three or four that differentiate Columbia from other business schools you’re considering and explain why you’re so eager to engage and participate. Have you spent your career in operations, and are particularly keen to meet Professor X, take his course, and speak to him about his latest research on the control and management of manufacturing systems? Would you like to do a consulting project for Company Y, a firm whose mission is aligned with your goals, and you know has collaborated with CBS students in the past? Would you like to continue your community service work with a specific student organization at Columbia because you’re familiar with the work they’ve done on initiatives you’re passionate about? By digging into the why, you will convince CBS admissions directors of your excitement for their offerings, but also that you will be the kind of collaborative, community-minded, and determined student they are looking for. 

Optional Essay: If you wish to provide further information or additional context around your application to the Admissions Committee, please upload a brief explanation of any areas of concern in your academic record or personal history. This does not need to be a formal essay. You may submit bullet points. (Maximum 500 Words)

This essay is for additional context around a weak spot in your application. Did you get a C in calculus? Or withdraw from your courses your sophomore year to help a family member? Do you feel that your lackluster GMAT score isn’t indicative of your abilities?

If you are going to address a low grade in an analytical course or a low GMAT score, don’t make excuses. Spend the majority of your word count demonstrating your ability to excel in rigorous academic or professional environments by using specific examples. Provide information on similar classes in which you achieved excellent grades or give details about a professional pursuit that resulted in success.

If you are speaking to a more sensitive situation, perhaps a big mistake or legal issue that impacted your GPA, spend approximately 20 percent of your essay addressing the situation. Then use the remaining 80 percent on the actions you took to improve and what happened as a result. Do not make excuses, simply address the situation, placing the emphasis on what you learned. Remember, everyone makes mistakes, taking accountability and moving forward demonstrates maturity.

The Writing Process

Begin with a brainstorm. Do not underestimate the importance of this step. Document your experiences, positive and negative, that prompted an evolution in your perspective—you know, those “ah-ha!” moments without which you would be a different student, professional, and/or person today. Then, record those experiences that will show the reader your abilities in innovation (critical/creative thinking and problem solving), leadership, and teamwork, as well as those experiences that reinforced your interest in business school. Keep in mind also the CBS Five Inclusive Leadership Skills.. Capture as many details as possible, paying particular attention to what you thought, felt, said, and did in each situation. Your focus should be on adult experiences (from the start of college and later), though stories from your youth could comprise up to 20 percent of this brainstorm.

During your brainstorm, don’t limit yourself by worrying about a cohesive narrative, the quality of your writing, and/or the number/length of your stories. Simply focus on collecting those situations that helped to guide your path to this point and impacted your decision to apply to the CBS MBA program.

Craft an outline. Select the key stories you will use to anchor your narratives. Remember that you’ll use your essays to go deep into experiences that demonstrate the traits you want to emphasize. 

Write. Keep in mind that you must be showing, not telling the reader who you are. In contrast to your resume, which provides a general overview of your experiences, your essay responses should go deep into a story that allows the reader to come to their own conclusions about some of your character traits and abilities. Highlight how you’ve struggled, triumphed, learned, and how these experiences have developed you into the person you are now.  

Review. Revise. Repeat. Confirm your word count and read your essay aloud noting where you stumble. Make revisions as necessary. Once it reads smoothly, set it down and walk away for at least 24 hours. Then re-read it. Is it you? Is it personal and authentic? You want the reader to see the real person behind the applicant number. While we caution against “oversharing,” being appropriately vulnerable will create connection. 

Related:

Essay Tips: Harvard Business School

Essay Tips: The Stanford Graduate School of Business

Essay Tips: Haas School of Business at the University of California, Berkeley

Essay Tips: The Wharton School of the University of Pennsylvania

Essay Tips: The University of Chicago Booth School of Business

Essay Tips: NYU Stern School of Business

Essay Tips: The Yale School of Management

Essay Tips: The University of Michigan Ross School of Business

Chicago Schools Come Out on Top in U.S. News’ Best MBA Rankings

University of Chicago Booth took the top spot in the newly released U.S. News and World Report’s “Best MBA” ranking. Booth was followed by Northwestern Kellogg at number two. University of Pennsylvania Wharton dropped to number three after sharing the top rank with Booth last year. This year’s rankings utilized an updated methodology with a greater emphasis on outcomes, which caused some shifts within the top 15. Highlights include:

  • Dartmouth Tuck saw the largest uptick, moving from the 11th rank in 2022 to share the 6th rank with Stanford. 

  • USC Marshall climbed four spots to the 15th rank, which it holds alongside Cornell Johnson.

  • Harvard maintained its 5th rank position for the third consecutive year.

  • Stanford, Columbia, and Berkeley Haas all dropped three spots from their positions last year. Columbia and Berkeley fell out of the top 10 into a three-way tie for the 11th rank with Duke Fuqua.

Along with the rankings, U.S. News shared key updates to its methodology, which increased the weight for “Placement Success,” to 50 percent of the overall rank. This is up significantly from 35 percent last year and includes two employment metrics as well as the mean starting salary and bonus for graduates. The overall rank de-emphasized the “Quality Assessment” to 25 percent of the total, down from 40 percent, and includes a peer and recruiter assessment score. “Student Selectivity” makes up the final 25 percent of the rank. It includes undergraduate GPA and acceptance rate, weighted slightly more than in previous years, and standardized test scores, weighted slightly less. 

Rank/School

1 University of Chicago (Booth)

2 Northwestern University (Kellogg)

3 University of Pennsylvania (Wharton)

4 Massachusetts Institute of Technology (Sloan)

5 Harvard University

6 Dartmouth College (Tuck)

6 Stanford University

8 University of Michigan--Ann Arbor (Ross)

8 Yale University

10 New York University (Stern)

11 Columbia University

11 Duke University (Fuqua)

11 University of California, Berkeley (Haas)

14 University of Virginia (Darden)

15 Cornell University (Johnson)

15 University of Southern California (Marshall)

17 Emory University (Goizueta)

18 Carnegie Mellon University (Tepper)

19 University of California--Los Angeles (Anderson)

20 University of Texas--Austin (McCombs)

20 University of Washington (Foster)

22 Indiana University (Kelley)

22 University of North Carolina--Chapel Hill (Kenan-Flagler)

24 Georgetown University (McDonough)

24 Rice University (Jones)

U.S. Schools Dominate the Financial Times’ 2023 Global MBA Rankings

The Financial Times just released its 2023 Global MBA rankings. Schools located in the U.S. performed well, making up three of the top five spots and twelve of the top fifteen. For the first time in the ranking’s history, Columbia University took the top rank. Notably, last year’s number one ranked program, University of Pennsylvania’s Wharton School was not ranked at all due to not meeting the minimum response threshold on the alumni survey. Poets & Quants notes that while other schools have suffered the same fate in previous years, it has never occurred at such a prestigious program, likely causing embarrassment at both Wharton and the FT. In addition to last year, Wharton has garnered the top rank ten times since the ranking’s debut in 1999.

Also of note, amidst the controversy surrounding the U.S. News’ rankings for medical and law schools, the FT updated its methodology for this year’s ranking. While the ranking still maintains an emphasis on outcome measures, including employment three years past graduation, salary, and salary change from pre- to post-MBA, the FT has also increased the weight given to metrics related to societal goals. These include social mobility, which uses metrics such as financial aid, study costs, and post-MBA earnings, as well as gender parity and student diversity, and sustainability and the environment. 

Rank School Name

1 Columbia

2 Insead, France/Singapore

3 IESE, Spain

4 Harvard

4 Stanford

6 SDA (Bocconi), Italy

7 UC Berkeley (Haas)

8 Cornell (Johnson)

9 Northwestern (Kellogg)

10 Yale

11 Duke (Fuqua)

11 MIT (Sloan)

11 University of Chicago (Booth)

14 UCLA (Anderson)

15 Dartmouth (Tuck)

MBA Program Announcements Roundup

We’ve rounded up and summarized the most recent MBA program announcements below. 

  • Duke’s Fuqua School of Business announced this week that its MBA degree has received a STEM designation. Prior to receiving the designation, the school’s MBA offered a STEM-designated second degree in Management Science and Technology Management (MSTeM). “We had been one of the first schools to offer a STEM second major or second degree for a certain series of courses that a student would take,” says Shari Hubert, Associate Dean for Admissions at Fuqua. “But now the entire MBA program is STEM-qualifying, which, for our students, is really game-changing because it gives them that additional two years of OPT, depending on the job that they take.”

  • Columbia University announced that it will offer a Global Executive MBA starting in May 2023. The program will take a hybrid format, relying predominantly on virtual instruction, with only about a quarter of the 22-month long program expected to take place in an in-person residential format. The content will be geared towards experienced professionals who have about ten years of professional experience and five years of management experience. 

  • Georgetown’s McDonough School of Business announced a new online MBA degree, available in August 2023. The program will include two in-person campus visits, but the large majority will be offered through synchronous and asynchronous virtual classes. This MBA will be the school’s third online degree offering, which currently consists of specialized masters programs in finance and business analytics. “More and more MBA programs and business schools are moving toward online degrees,” says Prashant Malaviya, Senior Associate Dean of MBA programs at McDonough. “We have two right now. Both of them have done well. So we know the model works, that there are students who are interested in this—and we also have a nobler goal, which is to increase access to the Georgetown education outside of the DMV region.”

  • UVA Darden’s first cohort of part-time MBA students based in Washington, D.C. kicked off classes at its Rosslyn, VA campus last month. The program is designed for working individuals in the DC area and is self-paced with students obtaining their MBA in between 28 and 48 months. “A part-time program adds flexibility and optionality to the MBA,” explains Yael Grushka-Cockayne, Senior Associate Dean for Professional Degree Programs at Darden.  “It allows some students who in the past couldn’t take the time off to have an MBA experience.”

How to Approach Columbia’s Essays: Part II

Read: How to approach Columbia’s Essays Part I

Columbia Business School’s Essay Two—Why do you feel Columbia Business School is a good fit for you academically, culturally, and professionally? (300 words)

The most important word in this prompt is WHY. Admissions directors already know what CBS offers to students; they want to know why their offerings resonate with you. Prove to them that their program is the perfect intersection between where you’ve been and where you want to go. Which courses, professors, experiential learning opportunities, etc. are most interesting to you? Choose three or four that differentiate Columbia from other business schools you’re considering and explain why you’re so eager to engage and participate. Have you spent your career in operations, and are particularly keen to meet Professor X, take his course, and speak to him about his latest research on the control and management of manufacturing systems? Would you like to do a consulting project for Company Y, a firm whose mission is aligned with your goals, and you know has collaborated with CBS students in the past? Would you like to continue your community service work with a specific student organization at Columbia because you’re familiar with the work they’ve done on initiatives you’re passionate about? By digging into the why, you will convince CBS admissions directors of your excitement for their offerings, but also that you will be the kind of collaborative, community-minded, and determined student they are looking for. 

Columbia Business School’s Essay Three—Tell us about your favorite book, movie, or song and why it resonates with you. (250 words)

Just as in CBS’s Essay Two, the most important word in this prompt is WHY. It’s time to showcase some personality! Columbia Business School is looking for students who will be collaborative and form lasting personal and professional relationships, so exposing a bit of vulnerability to show a quirky or sentimental side is ok, especially because your other essays delved deeply into your professional and academic interests and abilities. Do you have a passion for glass blowing, and enjoy listening to a certain artist when you’re in studio? Did you just finish a memoir that inspired you? Is there a movie you watch over and over because it reminds you of life before you emigrated to this country or a relative you admire?

Columbia Business School’s Optional Essay—If you wish to provide further information or additional context around your application to the Admissions Committee, please upload a brief explanation of any areas of concern in your academic record or personal history. This does not need to be a formal essay. You may submit bullet points. (Maximum 500 Words)

This essay is for additional context around a weak spot in your application. Did you get a C in calculus? Or withdraw from your courses your sophomore year to help a family member? Do you feel that your lackluster GMAT score isn’t indicative of your abilities?

If you are going to address a low grade in an analytical course or a low GMAT score, don’t make excuses. Spend the majority of your word count demonstrating your ability to excel in rigorous academic or professional environments using specific examples. Provide information on similar classes in which you achieved excellent grades or give details about a professional pursuit that resulted in success.

If you are speaking to a more sensitive situation, perhaps a big mistake or legal issue that impacted your GPA, spend approximately 20 percent of your essay addressing the situation. Then use the remaining 80 percent on the actions you took to improve and what happened as a result. Do not make excuses, simply address the situation, placing the emphasis on what you learned. Remember, everyone makes mistakes, taking accountability and moving forward demonstrates maturity.

Related Blog: How to Approach the Harvard Business School Essay

How to Approach Columbia’s Essays: Part I

Columbia Business School is clear about the kind of student they admit into their full-time MBA program: collaborative, community-minded, and determined. They are looking for students who are both ambitious and ready to make an impact on their field (and the world), and prepared to develop meaningful personal and professional relationships. 

As with other elite MBA programs, the essay questions are a critical component of the application because they provide you, the applicant, with the opportunity to show your abilities—in the areas of critical thinking and problem solving, leadership, and teamwork—through stories from your life. You will also be able to make the case for why you will be able to do what you say you want to do post-MBA. Unlike your resume, which will provide an overview of your life from the start of college, your essays should take a deep dive that will give the reader a view into the person (and personality) behind some of your most meaningful experiences and accomplishments. 

Essay 1: Through your resume and recommendation, we have a clear sense of your professional path to date. What are your career goals over the next three to five years and what is your long-term dream job? (500 words)

Although the question asks about your future goals, you will want to anchor this essay in the past. Because what you’ve already done, learned, and achieved is far more important than what you haven’t— what you say you want to do in the future. In order to fully satisfy the objective of this prompt, go into your backstory and detail the key moments that influenced you and the formation of your goals. As they note in the prompt, they already have an overview of your professional path to date, but they haven’t yet gotten a deep dive into your most pivotal experiences. Once the reader has taken this trip to your past, your proposed path forward will make much more sense. 

The Writing Process

Begin with a brainstorm. Do not underestimate the importance of this step. Document your experiences, positive and negative, that prompted an evolution in your perspective—you know, those “ah-ha!” moments without which you would be a different student, professional, and/or person today. Then, record those experiences that will show the reader your abilities in innovation (critical/creative thinking and problem solving), leadership, and teamwork, as well as those experiences that reinforced your interest in an MBA program. Capture as many details as possible, paying particular attention to what you thought, felt, said, and did in each situation. Your focus should be on adult experiences (from the start of college and later), though stories from your youth could comprise up to 20 percent of this brainstorm.

During your brainstorm, don’t limit yourself by worrying about a cohesive narrative, the quality of your writing, or the number/length of your stories. Simply focus on collecting those situations that helped to guide your path to this point and impacted your decision to apply to the Columbia MBA program.

Craft an outline. Select the key stories you will use to anchor your narratives. Remember that you’ll use your essays to go deep into experiences that demonstrate the traits you want to emphasize. Think about your application as a whole and use your responses to strategically cover any qualities that may not be adequately addressed in other aspects of your application. 

Write. Keep in mind that you must be showing, not telling the reader who you are. Invite the reader into your life by highlighting sensory details, such as smells and sounds, and don’t hesitate to engage your readers emotionally. Sprinkle in humor (if you feel comfortable doing so) or hit a poignant note. In contrast to your resume which provides a general overview of your experiences, your essay responses should go deep into a story that allows the reader to come to their own conclusions about some of your character traits and abilities. Highlight how you’ve struggled, triumphed, learned, and how these experiences have developed you into the person you are now.  

Review. Revise. Repeat. Confirm your word count and read your essay aloud noting where you stumble. Make revisions as necessary. Once it reads smoothly, set it down and walk away for at least 24 hours. Then re-read it. Is it you? Is it personal and authentic? You want the reader to see the real person behind the applicant number. While we caution against “oversharing,” being appropriately vulnerable will create connection.  

Read: How to approach Columbia’s Essays Part II

Related:

Your story set apart.