Aug. 22, 2007
Fortune, Forbes Surveys Rank Tippie Programs Among Best In Country
The University of Iowa's Tippie College of Business scored high in several rankings by Forbes and Fortune magazines this week, placing it among the nation's top-ranked graduate MBA programs and undergraduate entrepreneurial programs.
The Forbes ranking placed the business school's Tippie MBA program as the fifth best public university graduate management program in the country, 16th overall. The magazine said Tippie has the best public MBA program in the Big 10 and second best overall, putting it behind only Northwestern University.
The survey also showed that Tippie MBA graduates took the least amount of time to pay off tuition and other costs after graduation because of the higher salaries they commanded with their degrees. Typical Tippie MBA graduates take just three years for their return on investment to pay off, the quickest pay-off of any graduate-level management program in the country.
The Forbes ranking was based on surveys sent to 18,500 alumni of 102 MBA programs, with 22 percent of the alumni responding to the survey. The survey compared a student's pre-enrollment income to his or her annual income for five years after graduation, then factored in tuition and foregone salary while in school to determine how long it took students to pay back their costs.
Gary Gaeth, associate dean for the Tippie School of Management, said the Forbes' methodology of determining return on investment reflects the true value of the Tippie MBA program for its students.
"We provide one of the finest MBA experiences in the world, in a world-class environment, and this gives our graduates a solid foundation for a successful career," he said.
The magazine ranked Dartmouth University's MBA program as the top program and the University of Virginia as the best public program. The only other Big 10 school to rank in the top 20 was Michigan State University.
Meanwhile, Fortune Small Business, a publication of Fortune magazine, ranked Tippie's undergraduate program as one of the top 25 best places to learn entrepreneurship. The magazine cited the university's John Pappajohn Entrepreneurship Center, saying "under the direction of professor (and program director) David Hensley, Iowa was named the National Model Undergraduate Entrepreneurship Program of the year in 2004 by the United States Association for Small Business and Entrepreneurship."
The magazine singled out such classes as Technology Applications for the Entrepreneur and JPEC's internship program, as well as its participation in the university's interdisciplinary Performing Arts Entrepreneurship program.
"Since the creation of the Pappajohn Center in 1996, we have built an advanced academic program open to all UI undergraduate students," said Hensley. "The combination of our interdisciplinary program along with unique experiential learning opportunities provides a great learning ground for our future entrepreneurs and leaders."
Only three other Big 10 business schools were included in the Fortune Small Business list of top entrepreneurial programs: Indiana University, University of Illinois at Urbana-Champaign and the University of Michigan. The Fortune list did not rank the schools in any order.
The complete Forbes ranking of graduate management programs can be found online at http://www.forbes.com/2007/08/16/best-business-schools-biz-07mba_cz_kb_0816bschool_land.html.
The complete Fortune Small Business list of top undergraduate entrepreneurial programs can be found online at http://money.cnn.com/magazines/fsb/bestcolleges/2007/undergrads/index.html.
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