U.S News & World Report Ranks Smeal 35th Overall

The 2002 edition of "Best Graduate Schools" from U.S .News & World Report hits newsstands on April 2 and ranks Smeal College's MBA 35, one spot below last year's rank of 34. The issue also ranks several of the specialties offered in the college in the top 30.

"The overall ranking is a single measure that doesn't tell the whole story. There are several other metrics of note embedded in the survey results," says Dr. Judy Olian, Dean of Smeal College.

Smeal's reputation in the eyes of recruiters and other deans has improved. The "reputation score by recruiters"--determined by a survey of corporate recruiters--is 3.7, exceeding the score for many of the schools above Smeal in the rankings. The college's "reputation score by academics"--derived from ratings by deans and directors of MBA programs -is 3.5, comparable to or exceeding the rating of several schools with a higher overall ranking.

"To put this in context, this year's corporate recruiters' and academic scores place us 28th and 33rd respectively, compared to 33rd and 36th last year," says Olian.

Smeal graduates' average starting salary and signing bonuses increased from last year-from $79,800 to $83,997. Gains were also made in the percentage of graduates employed within 3 months after graduation-from 90.6% last year to 93.7% in this year's ranking.

In the "Business Specialties" categories, Smeal was ranked 20th for General Management; 21st for Accounting; 23rd for Production and Operations Management; 23rd for Marketing; and 30th for Management and Information Systems

"We see these improvements as encouraging signs, and we are committed to continuing this upward momentum. We are focused on a variety of initiatives that will further enhance the attractiveness of the program to prospective students, and the value of our graduates to potential recruiters," says Olian.

Most significant among these initiatives is the comprehensive MBA renewal. The redesigned MBA, that prepares students to lead in the converging economies, will be launched this August.

"The new portfolios and immersion experience in the program will differentiate our graduates by exposing our students to boundary-spanning models and intense learning workshops in critical areas of need to business. The new Trading Room, e-Incubator Lab, and Electronic Auction lab all offer hands-on learning and experimentation spaces that will differentiate our graduates from those of other business schools, and add to the distinctiveness and value of the Smeal MBA," says Olian.

Other developments at Smeal will further enhance the special strengths of the MBA and the various programs in the school.

"Dr. Anthony Warren was recently named as Director of The Farrell Center for Entrepreneurship. Tony is a world-class entrepreneur, venture capitalist, and teacher. With his wide-range of entrepreneurial, managerial and teaching skills, Tony will establish the Center as a magnet for entrepreneurs and students of entrepreneurship," says Olian.

Smeal is currently engaged in the feasibility study phase for design of a new building, envisioned to be the largest academic facility at Penn State's University Park campus and one that will enable the learning, development, and technology-intensive programs needed by students and faculty of a top business college. Other support of Smeal will further assist in positioning the school and its graduates for the business models of the future.

"Several recent gifts to Smeal reflect the generosity of our supporters and are a vote of confidence from outside sponsors," says Olian. A deferred gift from Richard A. and Nancy Zimmerman, totaling $1.1 million will benefit Smeal faculty research for generations to come. An $8.2 million gift from the Austin, Texas-based Mitte Foundation will provide scholarships to 60 undergraduates and 15 graduate students in Smeal each year over the course of 20 years.

"While the ranking results indicate positive momentum for the increased reputation of Smeal, Olian cautions that a ranking is only one of many important criteria students should consider when choosing a graduate school.

"A student's academic and professional ambitions, and scholastic record--along with a school's size, atmosphere, recruitment opportunities and location--are important factors. The return on investment in the MBA should also be considered. A ranking should be just one of the tools student use to match their interests to the graduate school they choose," advises Olian.