Do Grad School Rankings and Reputation Matter?

Many students aspire to attend prestigious graduate schools, such as those from the Ivy League or Big 10. It’s tempting to dream about earning a master’s degree from Havard, Princeton, Columbia, or others. While these graduate schools are highly ranked, it’s important to consider whether they are truly the best fit for your specific needs and goals.

That’s why placing too much emphasis on rankings might hinder you from finding your ideal graduate program.

When it comes to understanding graduate and business school rankings, sources like QS, The Financial Times, U.S. News and Poets & Quants can help orient you as to the types of graduate and business programs available and their key differentiators. Each ranking organization uses a combination of multiple statistical indicators, as well as opinion-based surveys, so it’s also best to consult more than one source.

While rankings offer a starting point you’re your research, they're only a small part of the factors you should consider, and ultimately their significance really depends upon the program and degree in which you're searching.

One of the reasons you may be pursuing a graduate degree is the desire for career advancement or to enter a profession that requires an advanced degree. It's important to determine whether the status of a school will matter for the career you're pursuing.

Amongst the top graduate degrees conferred, business, education, and various health professions or related programs make up the majority of master's degree. When considering business or health care professions, it is often advisable to consider the reputation of the school you're applying to, since some employers may take that into consideration when hiring. However, in fields like education, employers may emphasize the focus of the program rather than the name of the school.

However, as a common theme throughout this article, it’s crucial not to make rankings the sole determinant. Each career path has its own distinct requirements and additional factors that could weigh into your decision-making.

Consider these essential factors when choosing the right grad school:

• Cost vs. expected salary. Highly ranked schools usually come with high price tags, which means you may have significant debt upon graduation. So, if you're planning on incurring a 6-figure school loan, you'll want to make sure you can expect a 6-figure salary upon graduation. Law and medicine typically offer higher returns on educational investment compared to fields like social work or education, however, it’s best to talk with people in the profession as costs may be higher as well. For example, in medicine, the cost of insurance may be prohibitive
• Employment rate. No matter what field of study you're pursuing, consider whether the quality and reputation will influence how quickly graduates secure employment. Programs’ employment outcomes are considered by several rankings organizations, but even those that don’t rank as highly may still offer excellent job placement rates.
• Internship opportunities. Participating in an internship while in grad school can not only provide invaluable real-world experience but also a potential job post-graduation. Many students who aren't already working in their career field will find their jobs through internships and work study opportunities, so it's important to make sure the programs you're interested in have the proper connections for networking.
• Research topics and reputation. The caliber of faculty and research may be of great importance to you depending on your field of study. A particular program you're exploring may offer research opportunities that are ideal for your career ambitions even though they may not make a "Top 10" list. If you have an institution in mind, you can contact that program's advisor to discuss details of their research programs.
• Your specific situation. Every grad student has a unique and specific set of circumstances that they must consider when searching for a grad program. Just because a particular school is highly ranked on a list doesn't mean that it has everything to meet your needs. Program length, part time or full time, online or on campus, specific research topics, employer approved tuition reimbursement, and location are just some factors you should take into consideration and that some of these "top 10" lists may not account for.

Bottom Line: While grad school rankings can provide useful information, it’s advisable to not solely rely on rankings to influencer your decisions. You may consider them to a point depending on your field of study but don't discount the many excellent graduate and business programs out there that will lead you to a fulfilling graduate school experience and career path.