The consensus is that ratemyprofessor.com is unreliable. I can see how using graduate rate is going to hurt the publics pretty bad, more so than in USN when it's now one of the only four criteria. What about the other two mentioned?
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Our measures begin with student evaluations posted on Ratemyprofessors.com, a nine-year-old site with 6.8 million student-generated evaluations. We look at college graduation rates (as does U.S. News). We also calculate the percent of students winning awards like Rhodes Scholarships and undergraduate Fulbright travel grants. For vocational success we turn to Who's Who in America. Though imperfect, it is the only comprehensive listing of professional achievement that includes undergraduate affiliations. (Our complete listing of more than 200 schools can be viewed at Forbes.com.)
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Is using "Who's Who" worse than, say, number of people working in Goldman Sachs, which certain people seem to like using over and over on CC?