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| Vol. 24, No. 13 | February 1, 1999 |
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| Vol. 24, No. 13 | February 1, 1999 |
BY AMY CALLAHAN
The first international ranking of business schools has placed Columbia second only to Harvard.
In the Monday, Jan. 25, edition of the Financial Times of London, the respected international business newspaper ranked Columbia above, in descending order: Stanford, Wharton, MIT, Chicago, Northwestern, London Business School, Dartmouth and UCLA, to name just the top 10.
The newspaper used 20 different criteria to evaluate the top 50 schools.
"The aim," the article stated, "is to determine which business schools are equipped to prepare the international managers of the 21st century. "In addition, we have analysed which business schools are producing the best new ideas in management thinking through research and which are geared up to provide an international management agenda."
The Financial Times' ranking compared schools in the United States, Canada and Europe, using criteria, the newspaper said, "intended to span the differences between the two MBA cultures." One cultural difference, the article pointed out, was that North American MBA students openly admitted their desire to profit from their schooling, unlike their European counterparts.
The Financial Times surveyed alumni from each school, inquiring about their success at finding employment, their salaries and their career progression. Each school was asked to provide data on job offers and patterns of employment of their alumni, in addition to other information about faculty and students.
According to the ranking, the average salary of Columbia alumni was $140,133, and each graduate received five job offers-more than any top 10 school and more than any American school in the top 50. Columbia Business School also boasted the highest percentage of women enrolled in the top 10 (36 percent), and the second highest percentage of women on the faculty (19 percent).
The top 20 schools were:
1. Harvard
2. Columbia
3. Stanford
4. Wharton
5. MIT
6. Chicago
7. Northwestern
8. London Business School
9. Dartmouth
10. UCLA
11. Insead (France)
12. Cornell
13. IMD (Switzerland)
14. Berkeley
15. Duke
16. University of Michigan
17. NYU
18. Emory
19. Virginia
20. Yale