CHICAGO (CBS)–The University of Chicago’s Booth School of Business is no longer No. 1 on the list of the top MBA programs in the country, according to this year’s U.S. News & World Report list of the top grad schools in the nation.
The new rankings, which came out Tuesday, rank Booth tied for third place along with Harvard and the Massachusetts Institute of Technology’s Sloan School of Management.
The list also ranks the best medical schools and law schools.
Booth topped the MBA list last year for the first time, along with Harvard Business School, after being ranked in third place the year before.
This year, the Wharton School at the University of Pennsylvania came in first.
Other Chicago-area schools also made the list, but others didn’t fare as well.
Northwestern University’s School of Management came in sixth.
The College of Business at the University of Illinois Urbana-Champaign ranked 47th.
MBA programs at DePaul and Loyola didn’t make the list.
A year of tuition for Booth’s MBA program will cost $72,000, according to the report. That’s slightly cheaper than MIT, which charges $74,200 per year. Harvard’s MBA program is $73,440 and Stanford charges the least, at $70,590.