The University of Sydney takes the coveted No.1 spot for the first time since BOSS started compiling and publishing the report in 2003. 

The bi-annual report, last released in 2015, ranks MBA programs nationally and is considered a must-read, independent review, providing vital insight for anyone considering MBA study in Australia.

The 2017 report sees the Melbourne Business School drop to No.3, after last topping the list in 2011, with the University of Queensland Business School falling from No.1 where it stood since 2013, to No.2.

Among executive MBA courses QUT Graduate School of Business was ranked first, Melbourne Business School second and the University of Sydney Business School third. Executive MBAs compress teaching into modules allowing minimal time off work. 

BOSS found the Melbourne Business School to offer the best value-for-money MBA course nationwide, followed by the University of Sydney Business School (No.2) and University of Southern Queensland (No.3).

As part of a special analysis that will accompany the MBA rankings in today’s issue of BOSS, the magazine reveals a growing push for course revamps in order to meet the changing demands of employers, recruiters and students.

The in-depth study, the culmination of months of work by the Financial Review’s research team, also highlights growing demand for MBAs among international and undergraduate students.

Demand from domestic postgraduate students, on the other hand, was found to be shrinking, especially for full-time MBA programs.

“We have found that many MBA programs, which can cost upwards of $60,000, are undergoing extreme makeovers, with greater emphasis on creativity, critical analysis, interpersonal relationships and a systems-approach to problem-solving.

“These courses are very different to the norm of 20 years ago when traditional subjects such as accounting, marketing and organisational change were the focus,” Joanne Gray, editor of BOSS magazine and Leadership at The Australian Financial Review, said.

The ranking process for the 2017 BOSS MBA rankings began late last year, when the database of MBAs offered by business schools in Australian universities and other higher education providers was reviewed.

Business schools were invited to comment on the methodology and minor changes were made in 2017, including the EPAS accreditation and the allocation of points to schools that include a formal project with an external organisation to solve a real-life business problem.

The data for the ranking report is captured via participating schools answering a detailed questionnaire, as well as a survey that goes to alumni who have graduated in the past three years.

The survey asks them about their satisfaction with the course and level of improvement they felt it had made to their business skills, as well as whether they considered their MBA value for money.