Ranking is very important. MBA is the only professional education which is not supplemented by a professional license. Law school has bar exam. Medical school has doctor license exam. Everything in MBA education is based on reputation and reputation only. You can buy a MBA degree from Univ of Pheonix without GMAT or even going to the campus but it will not do you any good.
The only other important thing beside ranking is alumni networks. It will help you a lot in bad times. Kellogg and Cornell have the best alumni networks. During the worst hiring time 2001-2002, Cornell alumni chartered airplane for recruiters to campus and Kellogg matched each graduate with one alumni to help him finding jobs. As far as I know, Columnbia and Univ of Chicago did nothing special for its graduate during this period.
Just my take on this issue. |