September 21, 2005
Wall Street Journal again ranks Krannert a No. 1 MBA school
WEST LAFAYETTE, Ind. For the second straight year, The Wall Street Journal has named Purdue University's Krannert School of Management a No. 1 MBA school in a special section published today (Wednesday, Sept. 21).
The Journal's survey of corporate recruiters concluded that the Krannert School is the No. 1 program in the nation that serves recruiters from a regional base.
Unlike other MBA rankings that use a variety of measures, the Journal uses only surveys and interviews with corporate recruiters.
"I am very pleased to see that Krannert is once again ranked a No. 1 graduate business school by the prestigious Wall Street Journal," said Richard A. Cosier, Krannert School dean and Leeds Professor of Management. "This survey means much to me because it reflects the feelings of more than 3,000 recruiters. Recruiters' perceptions reflect highly on our students' work ethics and their value added to corporations around the globe.
"The No. 1 ranking is a testament to the skill and caliber of our faculty and staff, the abilities of our students and the accomplishments of our alumni."
The Journal writes of Krannert students: "Purdue graduates are considered impressive because of their humble attitudes and strong work ethic."
A financial analyst from Ford Motor Co. is quoted as saying he "believes the caliber of students has risen in recent years at Purdue's Krannert School of Management as the school has steadily improved the quality of its faculty and opened a new building with the high-tech facilities that top-quality students demand."
Krannert ranked first among the 47 regional business schools. Recruiters also recognized Krannert as third in the operations area, reflecting Purdue's traditional engineering and manufacturing strengths but also noted that recognition of Krannert's strengths in the finance and marketing areas was growing.
The survey included 3,267 corporate recruiters who were contacted between Dec. 6 and March 9. In addition to Purdue, other No. 1 rankings went to Dartmouth College in the national category and Switzerland's International Institute for Management Development in the international category.
The Journal used the same components in the three rankings: "perceptions of the school and its students, intended future supportive behavior toward the school and mass appeal." Each of the components was given equal weight in calculating the rankings.
The Journal survey defined 19 national programs as those attracting recruiters from national and multinational companies. Those programs tended to be large and attracted a large number of recruiters. Krannert and the other ranked regional MBA programs tended to be smaller and attracted a larger number of recruiters from their local regions. International schools seven from the United States and 13 from other countries are those that attracted a global mix of recruiters from many countries.
An article on Krannert in the Journal's special rankings section is titled "Spreading its wings: Purdue may be No. 1 in the regional rankings, but it is trying to think bigger."
The article discusses Krannert's plans to establish partnerships with Chinese universities, its three new MBA interdisciplinary study options, the addition of 20 faculty members, and MBA graduates' starting salaries and bonuses rising 8 percent. The article also recognizes Discovery Park, Purdue's research and enterprise hub, as adding interdisciplinary vigor to Krannert's programs and research opportunities for its faculty.
Gerald Lynch, associate dean and economics professor, said the No. 1 ranking reflected a sound strategic plan and effective implementation.
"Business schools today compete to be the best, much like corporations do," Lynch said. "Like corporations, we have to excel in a number of discrete areas, but success comes from how the organization puts all this together.
"Our professors work hard to be great teachers and researchers. Our students bring a solid analytical focus, and when they graduate they have the tools to contribute to companies immediately and in the long term."
The Wall Street Journal ranked Indiana University's Kelley School of Business No. 11 and the University of Notre Dame's Mendoza School of Business No. 29, both in the regional category.
Following Krannert in the regional rankings were Michigan State's Broad School at No. 2 and Ohio State's Fisher School at No. 3.
Writer: Mike Lillich, (765) 494-2077, email@example.com
Sources: Richard A. Cosier, (765) 494-4366, firstname.lastname@example.org
Gerald Lynch, (765) 494-4388, email@example.com
Purdue News Service: (765) 494-2096; firstname.lastname@example.org
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