Forbes magazine ranked the Schulich School of Business at York University number three in the world among non-US schools and number one in Canada. The rankings were released by the US-based publication late on Thursday, Aug. 18.
Right: The Seymour Schulich Building, home of York's Schulich School of Business
The Forbes global ranking measures the return on investment attained by graduates of MBA programs from around the world. Schulich was the highest ranked Canadian business school and was ranked third among the top 10 two-year MBA programs outside the US. Among all business schools in North America, Schulich was jointly ranked 10th overall along with the Kellogg School of Management, Schulich’s partner school in the Joint Kellogg-Schulich Executive MBA, and ranked 12th in the world among all two-year programs.
The Forbes survey measures the return on investment (ROI) experienced by MBA graduates from the Class of 2000. The survey calculates a "five-year MBA gain" by determining average post-MBA compensation minus the costs of attending business school (tuition and foregone salary). A five-year MBA gain for Schulich graduates was calculated at US$104,000, or approximately $126,000 in Canadian dollars. Schulich was also ranked number one in the world among two-year MBA programs in the category that measures the percentage return on investment (tuition and foregone salary). Schulich posted a 146 per cent return.
In the "years to pay back" category, which measures how quickly graduates recoup their investment in an MBA degree, Schulich was ranked number three in the world at 2.3 years. (In a similar ranking conducted by the Financial Times of London in its 2005 MBA ranking, Schulich placed first in the world among two-year MBA programs in the "value for money" category – a category that measures post-MBA compensation minus tuition and foregone salary.)
"We’re extremely pleased to have been ranked number one in Canada and number three in the world among non-US schools," said Schulich Dean Dezsö J. Horváth (right). "The Forbes survey captures an important factual measure of a school’s value – namely, the average return on investment that its MBA students can expect once they graduate." He added that Thursday’s Forbes ranking is consistent with a number of other recent global surveys, including one by the Financial Times of London, where Schulich ranked seventh in the world among non-US schools, and one conducted by the Economist Intelligence Unit, where Schulich ranked sixth in the world among non-US schools.
For more information and a full copy of the survey, click here.