AUBURN – A newly released Forbes.com special report has ranked Auburn University’s MBA program 29th among the nation’s public institutions and 64th overall. The ranking measures the best five-year “return on investment” for MBA graduates of the class of 2004.
For this year’s survey, Forbes sent out 17,000 questionnaires to graduates of master of business administration programs around the world. To determine the five-year MBA gain, Forbes compared their earnings in their first five years out of business school to costs such as tuition, required fees and foregone compensation.
Although the financial payback for all MBA graduates has slowed in recent years, the Auburn MBA continues to be a solid investment. According to the survey results, Auburn grads had an average pre-MBA salary of $33,000. That average rose to $87,000 five years after graduating with their MBA. According to Forbes’ calculations, it took them 4.6 years to recover the cost of their graduate education.
The top eight schools in the ranking were private universities, with Stanford University ranked number one. The top public MBA program on Forbes’ list was the University of Virginia, which was ranked ninth. Auburn was ranked just behind the University of Illinois, and two spots ahead of the University of Alabama and the University of South Carolina, which came in at 66th and 67th, respectively.
Dean Paul Bobrowski noted that “the Forbes ranking of the Auburn University MBA program provides recognition of the contributions of the faculty and the hard work of the students. We are pleased to be ranked among the top 30 public university programs, and look forward to continued improvement.”
Associate Dean and Executive Director of MBA Programs, Dan Gropper, said “the program helps prepare our students for rapid advancement in the workplace. The MBA program not only brings together bright people from a variety of backgrounds, but helps educate them to think about and solve problems. This ranking indicates that our students have been able to realize a solid return on their investment of time and money to earn the degree.”
The College of Business at Auburn University is accredited at the undergraduate and graduate levels by the Association to Advance Collegiate Schools of Business International, the highest standard of achievement for business schools. Less than one-third of U.S. business schools and only 15 percent of business schools worldwide meet the rigorous standards of AACSB International accreditation. Institutions that earn accreditation confirm their commitment to quality and continuous improvement through a rigorous and comprehensive peer review.
For more information about Auburn University’s MBA program, go to http://mba.business.auburn.edu.
(Contributed by Dina Kanellos Roberts.)