These are the best business schools for an MBA

Are you thinking of starting an MBA in 2016? The results from two new polls say you should be thinking hard about Harvard Business School.

With many schools now charging more than $100,000 for the two-year degree, there is a lot to think about before you hit the books. Two new university rankings from Bloomberg and the Financial Times look at many different factors to take into consideration, but they both agree on who is number one.

Is it worth it?

Both of the rankings took into consideration life after an MBA. In both, the results were encouraging for any prospective student.

It looks like investing in an MBA has long-term value. Within six to eight years, Bloomberg found that pay raises were increased by 64% among graduates. The Financial Times found that students who completed an MBA in China could expect as much as a 160% increase in their salary. Other countries where MBA graduates saw large salary increases included India (131%), Singapore (127%) and Spain (121%).

Bloomberg’s survey found that 88% of graduates had been hired within three months of finishing their studies. There was also an 81% rise in their median compensation compared with before going to business school. Just under 10% either started their own company or went on to work for a start-up.

Where to go?

The Financial Times overall ranked Harvard Business School first, followed by London Business School and University of Pennsylvania: Wharton.

Bloomberg separates its top 10s into American and International MBAs. This year, in the US, Bloomberg awarded Harvard the top spot, up from its position in eighth place last year. The university was followed by Chicago Booth and Northwest Kellogg. Internationally, Canada’s Western Ivey maintained its place at number one, followed by London Business School and INSEAD.

Bloomberg’s analysis of 177 business schools in the US and abroad was based on data from more than 13,150 current students and 18,540 former students, as well as 1,460 recruiters. The results were divided into six categories. The Financial Times MBA rankings is one of seven business education rankings published annually.

Have you read?
Are MBAs still crucial to career success?
These are the world’s top MBA programmes
How to get a free MBA

Author: Donald Armbrecht is a freelance writer and social media manager.

Image: Profile of students taking their seats for the diploma ceremony at Harvard University in Cambridge. REUTERS/Brian Snyder