The University of Iowa’s Tippie School of Management once again has been ranked among Forbes’ best business programs in the nation.
At No. 20, the UI falls within the list’s top 25 M.B.A. programs, placing it among the schools where the degree “still pays off,” according to the business publication’s biannual report. Forbes ranks full-time M.B.A. programs every two years based on return on investment, and the UI moved up one spot this year from No. 21 in 2011.
“Tippie has three career academies – marketing, finance and strategic innovation – to help students build a career plan and network with professionals in the field,” according to Forbes’ write-up of the UI program.
It describes Iowa’s system of letting business students choose between five specialties, and it praises the program for giving students exposure to outside corporations by pairing them with local, national and international organizations.
Nationwide, the average payback period for the business Class of 2008 was 3.7 years, up from 2.7 years a decade ago, according to the Forbes report.
Iowa’s M.B.A. graduates in the new report are listed as having a 3.4 year payback period, with students entering school earning a median salary of $46,000 and leaving the program with a total median compensation of $118,000.
Stanford University’s Graduate College of Business topped this year’s list – reporting students enter the school with a median salary of $80,000 and increase that to $221,000 five years out of school.
Stanford is the most selective school in the nation, taking just 7 percent of applicants for the Class of 2014. The UI accepted 56 — or 42 percent — of its 245 applicants, according to the new rankings.
In the 2011 report, Iowa reported accepted 69 – or 37 percent – of its 307 applicants.
Iowa, in the new report, lists its in-state tuition at $41,258 and out-of-state tuition at $72,988. The employment rate after graduation at Iowa is 90 percent, according to the report.
Other Big 10 schools that made this year’s Top 20 include Northwestern University’s Kellogg School of Management at No. 5, the University of Michigan’s Stephen M. Ross School of Business at No. 10, and Indiana University’s Kelley School of Business at No. 19.