of AFR Boss The ranking of graduate business course providers (with a sufficient number of graduates) addresses all these components.
There are separate metrics for reputation, quality and career impact, or career and salary prospects, and an overall ranking that weights the categories equally.
The overall winner of the 2022 AFR BOSS Best Business Schools list is the University of New South Wales. Edith Cowan University takes the top spot for quality, the University of Melbourne ranks highest for reputation, and UNSW ranks first for career prospects.
The three categories are drawn from publicly available information in our curated methodology.
Reputation rankings use the average scores of major rankings across institutions and their business-related services. There are many different opinions on the value of rankings (and this ranking as well). But few doubt that they are influential. The decision to integrate scores in other rankings was not necessarily to adopt that methodology, but to reflect the fact that it guides the choices of many people.
In all, 19 separate rankings of institutions and business subjects were compiled. Academic Ranking of World Universities (ARWU), Times Higher Education (the) and Quacquarelli Simmons (QS), reflecting our collective view of how others see them.
The quality ranking combines certification and performance factors. We have provided accreditation to schools that choose to go through a rigorous process for accreditation by the Association to Advance Collegiate Schools of Business (AACSB) or Equis, the leading European equivalent body. Twenty-two of the 37 business schools included in the ranking are accredited by one or both organizations.
It also takes into account the performance of the National Assessment of Research, which is Australia’s research excellence, which effectively assesses research against world-class benchmarks. We insist on bringing world-leading thinking and discovery into our curriculum.
It also contains three data sets related to courses. All of these are derived from the government’s Quality Index for Learning and Teaching (QILT) and aggregated into a version available as ComparEd. These scales are for positive experience, educational practice, and skill development.
Finally, the Career Impact Rankings utilize publicly available data on full-time employment after graduation, salary five years later, and annual salary growth.
The overall results of this first release may or may not surprise readers, depending on previous perceptions.
Four of the Group of Eight (Go8), the most research-intensive of Australian universities, are in the top 10 overall, although younger Universities line up.
Go8 dominates the top 10 reputation ranking components, but only two are included in the top 10 for quality. Also, one of Australia’s youngest universities ranked him second in career impact.
Feedback on the student’s experience has emerged as an important variable. When the latest QILT data for her was fed into the model just before publication, there was a significant change in the rankings. The message here is that many things affect the perception of universities, but institutions will increasingly be valued for the experiences they provide to their students.
There is no perfect ranking. All rankings are controversial. Each represents a choice (even a value judgment) about what is important and how much weight should be given to different factors. All data have limitations and allowable statistical uses of that data vary. People on top are always happier than people on bottom.
The typical student has balanced preferences for reputation, quality, and career impact. The fact that our diverse institutions are now able to play active roles in various fields is a testament to the maturity of our university system.
But by exposing the three constituent categories separately: Reputation, Quality, and Career Impact, first-time students can focus on what matters most to them.