By Bryanne Whatley
Leaping 26 spots in one year, the Marriott School of Management placed 49th out of 100 in the Financial Times rankings of the top MBA programs globally.
The London-based newspaper evaluates schools from all over the world based on their strength in alumni career progress, diversity and research capabilities. BYU has been included in the top 100 business schools for the past five years, but the 2005 ranking is the highest ranking ever received.
? is an indicator of the improvement we?re making in our program,? said Lee Radebaugh, associate director of the MBA program. ?When we get that external validation it helps us realize that what we are doing is not only correct but in line.?
Radebaugh said a rating from the Financial Times is one of the most prestigious ratings a business school can receive. National rankings in the U.S. are significant, but receiving a high ranking from an international publication holds strong accreditation.
?This ranking helps give exposure for our program and the unique aspects of BYU,? said Joseph Ogden, assistant dean of external relations in the Marriott School. ?This is the highest ranking we?ve ever had in the Financial Times. It is a badge of honor to come from a top ranked business program.?
BYU was also listed in the top ten North American schools for the highest percentage salary increase for graduates, three years after completing the MBA program.
?The rankings are an indicator that the MBA program at the Marriott School is extremely valuable,? said Robert Gardner, director of alumni relations in the Marriott School. ?Students can see the economic value of having a BYU degree.?
In ranking business schools, the Financial Times places emphasis on having a global MBA program. Ogden said points are given based on how often graduates move from country to country to work. Also, the diversity of students, professors and members of the school?s advisory board impacts whether a program is considered a global program.
BYU has a Global Management Center, which makes sure the Marriott School?s advisory board is made up of people from different countries. The center also works to train students to be leaders in a global environment by providing international business experience and exposure to international environments.
Cynthia Saldaha, managing director of the Global Management Center, said students can participate in the Global Plan competition, case challenges and field studies in different countries. Students may also take international business classes as well as business language classes.
Radebagh said rising to 49th from the 2004 ranking of 75th strongly indicates that efforts for improvement at the Marriott School of Management are working.
He said the higher ranking is in response to two things. First, more aggressive recruitment of students with work experience, and second, faculty devotion to developing and improving curriculum.
Over the years the Marriott School has tightened acceptance standards for MBA applicants to strengthen the program as it pushes students to excel.
?There is definitely a strong correlation between higher GMAT scores and a higher national ranking,? Radebagh said.
Students in the Marriott School undergraduate and graduate programs agree the school?s improved status raises hopes for career success.
Chris Keller, 28, a second year MBA student and president of the MBA Student Association, said the Marriott School has stellar faculty who know what students need to be successful in the business world.
?There has been a balanced effort from students and the administration to improve things,? Keller said. ?This ranking is proof that all of our hard work has paid off.?
While doing an internship, Keller discovered he had skills and knowledge that gave him a competitive advantage over MBA students from other schools.
?I interned at Hewlett-Packard and received quite a bit of recognition for tools I brought that were specific to BYU,? Keller said. ?BYU?s MBA program has good values with low tuition and an excellent return on investment.?
Corey Beahm, 24, an undergraduate from Rigby, Idaho, majoring in business management, said BYU?s international ranking is helping open doors for him with internship opportunities.
?In visiting with investment banking firms, it?s all about the name of your school,? Beahm said. ?Improvement in BYU?s rankings help.?
Beahm said he thinks large corporations worldwide are starting to recognize the education BYU has to offer.
Amy Chaston, a second-year MBA student from Dubuque, Iowa, said she is excited for increased recognition a higher international rating will offer her degree.
?When people hear I am in the BYU MBA program they comment on how it is a good course,? Chaston said. ?It?s good to hear others recognize the program.?
BYU is also recognized nationally for excellent programs in accounting, business management, public management, information systems, organizational behavior and entrepreneurship.