Throughout its young history, the School of Business at Stevens Institute of Technology has carved out a niche as a leader in the use of data and analytics in solving complex business problems.
The world is taking notice.
In its 2022 compilation of the best business schools, released today, U.S. News & World Report ranked Stevens No. 68 in the United States. That marks three straight years of improved rankings and places Stevens among the fastest-rising business schools in the country.
“Today’s rankings are further validation of what we have long believed — that the business world is changing fast, and that a new kind of business education is required for workplaces dominated by data, analytics and technology,” said Dr. Gregory Prastacos, dean of the School of Business.
Notably, Dean Prastacos is principal investigator of a global initiative, called MaCuDE, that is reimagining management curricula with an eye to better preparing students for the digital era. This project, supported by both AACSB International and PwC, is the most visible demonstration of Stevens’ academic leadership in analytics, and how leaders make decisions and set strategies based on data.
“MaCuDE gives us an important platform to help business schools better understand their role in confronting these new opportunities and challenges,” Dr. Prastacos said. “It’s not enough to be technically proficient. You also need critical thinking skills and good judgment, so you can understand new opportunities, make the case for technology integration and challenge data scientists in ways that ensure your actions are adding value at every step. That philosophy is at the core of all of our academic programs.”
A brief snapshot of the 2022 rankings:
- Just three years ago, Stevens was ranked outside the top 100 schools. Since then, it has jumped from No. 83 (2020), to No. 77 (2021) and now No. 68.
- Stevens enjoys the 14th-highest reputation among corporate recruiters, a reflection of how prepared Stevens graduates are when they enter the workforce.
- Even in a pandemic, there’s strong demand for Stevens graduates. The School of Business had the nation’s fifth-best job placement rate three months after commencement; 93 percent of graduate students accepted job offers within that time frame.
These rankings follow a very strong performance in U.S. News' report of the best online business programs, in which Stevens hit another high-water mark, including a rise to No. 14 in the best non-MBA business programs category.
Close ties to industry, technology
A key reason for Stevens’ improving reputation in the rankings is the close ties the School of Business has developed with leaders and hiring managers in industry. A series of highly active advisory boards provides invaluable input on curricular direction, which helps Stevens stay ahead of new developments in artificial intelligence, digital innovation, automation and technology integration.
Scott Penqué Jr., who joined the Board of Advisors to the School of Business in 2020, said it’s been invigorating to be a part of a leading, fast-growing school.
“It’s really exciting to be part of something that’s growing and doing something different — not just offering the business degree of old,” Penqué said. “Stevens is setting students up for a different kind of career in a very different kind of workplace.”
Students and alumni, meanwhile, benefit from both the tech orientation of the programs as well as access to industry leaders like Penqué. A dedicated Center for Outreach and Professional Advancement within the school offers personalized career support — highly valued when the pandemic has forced recruiting activities onto digital channels.
Aayushi Gandhi completed her master’s in Financial Engineering in 2020, and was hired as an analyst with Scotiabank. Her work at Stevens gave her a technical perspective that she said was instrumental in opening doors for her, first on an internship with the financial services company and now in her day-to-day role.
“In my work, I’m not expected to write code all day — but knowing enough to be able to extract, clean and analyze data helps me do my job that much better,” she said. “Stevens introduced me to the technical side of finance, which has opened a lot of doors for me.”