Poets&Quants’ 2025–26 MBA ranking put Northwestern’s Kellogg at No. 1 for a second straight year while Harvard rose to No. 2 and Columbia climbed to No. 3. The report highlights dramatic movement across the top‑tier programs—most notably Stanford’s steep drop after exclusion from a major ranking and Michigan Ross’s rebound into the top ten. Eduniversal’s new list of 5 Palmes of Excellence also reshaped international perceptions; global deans cited internationalization and alumni networks as drivers of influence. Business‑school leaders say rankings still shape applicant behavior and employer recruiting, even as schools emphasize measurable regional impact and industry partnerships.