A Changing of the Guard

The latest Bloomberg Businessweek ranking of the world's top executive MBA programs features a shakeup at the very top. The University of Chicago's Booth School of Business has captured the No. 1 spot for the first time since the ranking began 20 years ago, ousting Chicago-area rival Northwestern's Kellogg School of Management, which until now was the only No. 1 school in the ranking's history.

While both schools continue to garner the respect of EMBA directors, the overall satisfaction of Kellogg EMBA graduates appears to have declined–the program ranked 11th in our grad poll this year, down from eighth in 2009, the last time we ranked EMBA programs. One possible reason: support staff and services. In 2009, Kellogg grads awarded the program an A+ in this category. This year they gave it a B.

The new ranking is a setback for Kellogg, which won the No. 1 spot in six consecutive rankings: 1991, 2001, 2003, 2005, 2007 and 2009. In 1993, 1997, and 1999, Bloomberg Businessweek published alphabetical lists of top programs; in 1995 it did not publish an EMBA ranking.

In the slides that follow, we list the 40 top EMBA programs, an expanded ranking that now includes many schools that appeared in an unranked second tier in 2009. To see the complete list, including the new second tier, use our interactive graphic. To learn more about individual programs, check out their online profiles, use our comparator tool, or take a virtual school tour. And for a detailed explanation of our methodology, read our FAQ.

Note: Tuition represents the total cost of the EMBA program; out-of-state tuition was used for University of Michigan and University of Georgia. NR=not ranked.

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