The Poets & Quants ranking of best U.S. MBA programs has been revised and now places Olin Business School at #23, seven places higher than previously published in November 2015. The ranking was recalculated by Poets & Quants after a mathematical error was detected. The correct ranking is now posted on the website.

We sensed something was not right when P&Q published its MBA rankings last fall. When we did the math, we detected an error and brought the anomaly to the attention of the website’s editor. Poets & Quants has acknowledged the miscalculation and we wanted to share this message with members of the Olin community.

Poets & Quants’ annual ranking “combines the five most influential rankings and weighs each of them by the soundness of their methodologies,” according to P&Q editor John Byrne.

Byrne explains the methodology for the ranking of rankings on his website, “The composite list is based on rankings published by U.S. News & World Report, Forbes, Bloomberg Businessweek, The Financial Times, and The Economist. Instead of merely averaging the five, each ranking is separately weighted to account for our view of their authority. U.S. News is given a weight of 35%, Forbes, 25%, while both the FT and Businessweek are given a 15% weight, and The Economist, 10% weight.”