For the first time, Business Week has published a ranking of undergraduate business programs. Not surprisingly, my alma mater, BYU, does well, coming in at #8. I graduated from BYU with an accounting degree in 1986, and even back then the program had a strong national reputation. In this survey, BYU ranked #1 in the recruiter survey. BW's comments about BYU: "Stellar accounting program and ethics-based education wow many. But student body is 98% Mormon and may not be for everybody."

May not be for everybody? Nice understatement.

The #1 school in the ranking is Wharton, which is the only school in the survey that did not agree to cooperate with BW. Wisconsin checks in at #27.

Of course, how could we discuss rankings without a nod to methodology. You can find the description of BW's methodology here. Whoever came up with this idea should get a raise because BW will sell lots of issues, and the methodology will produce changes from year to year, which will ensure a captive audience.

UPDATE: Regarding the captive audience, do a Google News search on "Business Week undergraduate" and notice all of the schools touting their rankings.

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