September 22, 2000
Krannert-grad pay jumps most in nation,
value rated fourth
WEST LAFAYETTE, Ind. The percentage increase of starting pay for graduates of Purdue University's Krannert Graduate School of Management was higher than all other MBA programs nationwide, Business Week announced today (Friday, 9/22).
Krannert graduates rank number one in percentage increase in median salary from pre-MBA ($32,000) to post-MBA ($101,500) starting salaries, a 217 percent increase. The starting pay, cited in Business Week's Best Business Schools 2000 survey, includes salary, bonuses and other compensation.
The survey also showed that the freshly minted Krannert graduates rank fourth nationally, and number one among ranked schools, on the quickest return on investment, averaging 3.8 years to recoup the cost of their education. The graduates had an average of 3.5 job offers, which ranked them fifth nationally.
Overall, Krannert ranks 25th among the nation's more than 300 accredited MBA programs in the annual Business Week poll that will hit the newsstands on Oct. 2.
"We are pleased to once again be ranked among the top 25 business programs in the country," said Richard A. Cosier, dean and Leeds Professor of Management. "Krannert's placing first among ranked schools in quickest return on investment clearly shows the value of a Krannert degree. We continue to provide a world-class education at an affordable price."
Business Week, which has ranked MBA programs since 1988, this year added a new category intellectual capital. The aim was to measure business schools' impact on practices in the marketplace based on business publications, both academic and practitioner-based. Purdue ranked 17th in intellectual capital.
"It's gratifying to see increases in our ratings from both employers and students," said Charles R. Johnson Jr., director of the Krannert Graduate School's professional master's degree programs. "This shows that both groups value the improvements we are making in preparing our students to compete in a dynamic business environment."
Topping the Business Week survey was the University of Pennsylvania's Wharton School, followed by Northwestern, Harvard, MIT and Duke. Indiana University's Kelley School ranked 20th overall. Business Week ranks the top 30 schools in numerical order. Notre Dame was listed among the 20 schools in the second tier without a specific numerical ranking.
To obtain its results, Business Week contacted 16,843 MBA graduates from 82 schools in the class of 2000. The magazine received 10,039 replies, a 60 percent response. Also polled were 419 recruiting companies. There were 247 replies, a 59 percent response.
For the first time, the survey listed foreign schools separately. INSEAD in France ranked number one in that category. The London Business School ranked second.
U.S. News and World Report ranks Krannert's master's degree program third in operations, seventh in quantitative analysis and 23rd overall nationally. The Financial Times tapped Krannert third in the United States in placement success. ComputerWorld ranked Krannert seventh in its "techno-MBA" survey.
Sources: Richard A. Cosier, (765) 494-4366, firstname.lastname@example.org
Charles R. Johnson, (765) 496-3668, email@example.com
Writer: J. Michael Lillich, (765) 494-2077, firstname.lastname@example.org
Purdue News Service: (765) 494-2096; email@example.com
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