Purdue University's Krannert School of Management has been ranked in a tie for the No. 9 spot among U.S. public MBA programs, according to rankings released Monday (Jan. 25) by the Financial Times. The publication lists Krannert as the highest-ranked MBA program in the state of Indiana.
Krannert's MBA program jumped 26 spots to tie for 54th worldwide. The national ranking improved to 28th among all U.S. business schools. Krannert's rank among Big Ten schools also rose, from ninth to fourth place, behind only Northwestern University, the University of Michigan and the University of Illinois.
"I am delighted with this significant improvement in Krannert's worldwide MBA rankings," said Richard A. Cosier, Leeds Professor of Management and dean of the Krannert School. "This impressive rankings outcome in a highly respected global business publication serves as proof that our students and alumni are among the best business school graduates in the world."
Cosier said the program will continue to be a strong investment for students worldwide.
"We are particularly proud of our status as a top 10 public U.S. school," Cosier said. "We believe that recent changes in our curriculum, which allow students to utilize their classroom knowledge in applied business settings under faculty supervision, will help make our program even stronger."
The Financial Times surveys graduates three years after they have completed the degree to assess the impact of the MBA on their subsequent career progression and salary growth. The rankings are based on data collected from both alumni and business schools.
The criteria used in the Financial Times rankings are grouped into three main areas: alumni salaries and career development, the diversity and international reach of the business school and its MBA program, and the research capabilities of each school.
The Financial Times data shows that the average student who completes the Krannert MBA sees a 108 percent salary increase compared to compensation before earning their MBA. Three years after graduation, the average Krannert graduate earns $103,737.
Krannert's MBA also ranked in the top 50 schools as best value for the money, which compares salary to education and time costs in earning the degree.
Krannert tied for the 54th overall slot with the Mays Business School at Texas A&M University and the Schulich School of Business at York University in Toronto, Canada.
The London Business School in England ranked first overall, with the Wharton School of Business at the University of Pennsylvania ranking second overall and first in the United States.
The Krannert School of Management offers five full-time master's programs, two executive master's programs and one weekend MBA option.