All 365 accredited master's programs in business were surveyed (284 responded; 165 provided the data needed to calculate rankings based on a weighted average of the eight quality indicators described below).
Quality assessment (weighted by .40): Two surveys were conducted in the fall of 2002. Business school deans and directors of accredited programs were asked to rate programs on a scale from "marginal" (1) to "outstanding" (5); 56 percent responded, and the resulting score accounts for a quarter of the overall score. Corporate recruiters who hire from previously ranked programs were also asked to rate programs; 26 percent responded, and their ratings are weighted by .15 in the model.
Placement success (.35): This is measured by mean starting salary and bonus (40 percent) and employment rates for 2002 graduates, computed at graduation (20 percent) and three months later (40 percent). Those not seeking jobs are excluded. Salary figures are based on the number of graduates reporting data. Since not everyone who reported a base salary reported a signing bonus, mean signing bonus is weighted by the proportion who do.
Student selectivity (.25): The strength of full-time students entering in the fall of 2002 was measured by mean GMAT (65 percent), mean undergraduate GPA (30 percent), and the proportion of applicants accepted by the school (5 percent).
Overall rank: Data were standardized about their means, and standardized scores were weighted, totaled, and rescaled so that the top school received 100; others received their percentage of the top score.
Specialty rankings: These rankings are based solely on ratings by educators at peer schools. Business school deans and program heads were asked to nominate up to 10 programs for excellence in each of the areas listed. The 10 schools receiving the most votes appear.
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