HKUST Business School Top in Asia-Pacific Two Years in a Row; Research Rank Advances to Top 20 in the World
The School of Business and Management of the Hong Kong University of Science and Technology (HKUST Business School) has again been selected as the top Asia-Pacific business school offering a full-time Master of Business Administration (MBA) program by the latest international rankings released today by the Financial Times. This is the second year that the School has obtained the top spot among business schools in the region.
In the area of research, HKUST moves up six places and ranks 20th in the world, two places behind London Business School and ahead of some well-known US research-focused business schools such as that of the University of Southern California (22).
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As reported in the Financial Times, "...the good news is that it (HKUST) retained its top slot in Asia. Perhaps the biggest contributing factor was its research rank of 20 in the world, despite having a faculty of just 92 ?half the number of most of the big US schools."
If comparing only publicly funded institutions, HKUST's research rank is 6th in the world, after University of Maryland (7), University of California at Berkeley (10), University of California at Los Angeles (12), University of Michigan (16) and Ohio State University (19).
As in the previous year, the School ranks first in the world for the international experience that its MBA program offers, second (after IMD in Switzerland) for its international faculty.
The Financial Times top MBA rankings include 100 schools worldwide. This year, only five from the Asia-Pacific region are on the list. The other 95 include 56 from the US, 28 from Europe, 8 from Canada and 3 from South America.
The positions of Asian schools dropped in general as a result of the unceasing trend of downward adjustment of salaries over the last few years in Asia. HKUST's ranking dipped from 47th to 59th. However, its long-term performance outlook remains in the world's top 50, according to the three-year average rank position published for the first time by the paper. In that category, the School ranks 48th, tied with University of Illinois at Urbana-Champaign in the US.
The placement of the School's recent MBA graduates also showed good signs with "employment at three months of graduation" in year 2002 being ranked as 6th in the world.
Financial Times MBA 2003 - the Top Asia-Pacific full-time MBA Programs
| Position | ||
|---|---|---|
| School | 2003 | 3-year average |
| - HKUST | 59 | 48 |
| - Melbourne Business School | 64 | 67 |
| - Australian Graduate School of Management | 69 | 55 |
| - Chinese University of Hong Kong | 77 | n/a |
| - China Europe International Business School | 90 | n/a |
The selection criteria comprise three broad dimensions: purchasing power in the marketplace, diversity of experience, and research qualities. The Financial Times rankings are by far the most comprehensive head-to-head comparison among business schools worldwide.
Professor Paul Ching-Wu Chu, President of HKUST, congratulated the School on its top position in Asia-Pacific. "Amid the economic challenges facing Hong Kong, we are very pleased to see that the School has held up its position as the top Asia-Pacific school in the rankings. At HKUST, we will continue to strive for excellence in the areas of management education, innovation, technology and research."
Professor K.C. Chan, Dean of the Business School, said, "we are very proud to advance to a world top 20 position in the area of research. The quality of our faculty research will be an important factor in defining our long-term position on the world map of management education. The Financial Times ranking is a tribute to the hard work of our faculty and it showcases the level of excellence that a Hong Kong university, as benchmarked against other major international institutions, may achieve."
Professor Steve DeKrey, HKUST MBA Program Director, said, "we are delighted to be repeatedly recognized by this important survey as the top MBA program in the region. While the level of salaries fluctuates from year to year, the value of an education from a quality
program will always be important. We expect our alumni and students to continue to do well in the market, in particular assisting multinationals with their expansion in Asia."
Financial Times MBA 2003 Survey website: http://news.ft.com/jobs/mba