We’ve heard before that GDP/GNP/per capita income are not the ideal measures for how successful a nation is, unless the ‘Happiness Quotient’ is factored into the calculation. How do you measure happiness and index your GDP accordingly ? Can a higher per capita income be the cause, if not the effect, of a greater degree of happiness among the people of a nation ?
While you mull over such thoughts, lets look at the methodologies used by the different B School rankings in place.
US News, by far the most respected rankings when it comes to US Business Schools, base their rankings on a methodology comprising – assessments from deans and directors of the selected schools (25%), recruiters (15%), success in placements (35%), and student selectivity (25%).
Businessweek factors inputs from the three most recent student surveys (45%), the three most recent recruiter surveys (45%), and the school’s intellectual capital rating (10%) to form its rankings.
FT Rankings surveys the alums of various global schools three years after graduation. While the link gives you the weightages, let me classify them under groups – salary considerations (43%), success in career goals and placements (10%), alum recommendations (2%), percentage of women representation (5%), international component – faculty/students/mobility/experience/languages (20%), faculty with doctorates (5%), FT doctoral & research rank (15%).
Different ingredients, different cocktails. Each different in flavour, but as heady as the other. Its upto you to savour the one you like the best, and not get swayed by other’s tastes. Its easy to determine that the one you like the best is the one that makes you the happiest while you’re gulping it down. And you only get to have one. So how can you pass a judgement on others that you haven’t tried ? Hearsay ?
Quantifying happiness isn’t easy. Money is the closest mistake we can factor in attempting to do so. And relativity the costliest.
Choose your B Schools wisely. All the best!