Three Australian business schools have featured in The Economist’s latest ranking of the world’s best MBA programs as heavyweights return after a 2021 boycott due to the pandemic.
The University of Queensland’s Master of Business Administration was ranked Australia’s number one MBA program, coming in at 49th overall. Macquarie business school placed 61st while UNSW (AGSM) ranked 65th.
Responses to quantitative and qualitative questions from thousands of current and former students were used to rank the top 100 full-time MBA programs this year. Critical indicators include career opportunities, salary progression, personal education, networks and student quality.
American MBA programmes seized the highest positions after 15 of the top 25 schools, including all of the super-elite M7 business schools, agreed to come back after a one-year hiatus due to the pandemic. The full-time MBA at Harvard Business School sits in podium position, with the programmes at the Wharton School at the University of Pennsylvania and Northwestern University’s Kellogg School of Management in silver and bronze respectively.
UQ scored first in the world for student quality for the sixth consecutive year, second overall in the Asia Pacific and in the top 50 overall MBA programs worldwide.
Deputy Dean of UQ Business School, Professor Tyler Okimoto, said the results were testament to the international quality of the program.
“Our world-class MBA program attracts the best and the brightest calibre of candidates,” Professor Okimoto said.
“The UQ MBA team and partners are deeply committed to excellence and continuous improvement of the student educational experience, producing leaders of international quality who can navigate unexpected organisational challenges.
“It’s gratifying to see the hard work of our faculty, staff, students and alumni being recognised by The Economist – one of the most prestigious global MBA rankings.”
The UQ program also recorded one of the highest percentages of job-seeking graduates with a job offer three months after graduation.
UQ MBA Director Associate Professor Nicole Hartley said the program has a focus on recruiting a diverse cohort, as well as strong industry partnerships that tackle real-world problems in the face of disruption.
“We work tirelessly to ensure our MBA candidates are surrounded by peers with diverse experience from a broad range of sectors, who challenge and support each other and become a strong network during – and after – their degree,” Dr Hartley said.
She said despite the pandemic, the program has been able to offer an enriched learning experience online and face-to-face, so graduates can embrace transformation and professional growth during ongoing disruption and uncertainty.
“We also foster our MBAs to build connections with a broad alumni network and provide opportunities for one-on-one mentoring, as well as life-long access to our dedicated MBA careers and development team,” Dr Hartley said.
“I believe it’s this personalised approach that prepares our graduates for that next meaningful career transition.”