Good catch. I was wrong on that count. I still think that it’s BS ratings because of everything else.
Ultimately, these rankings, one after another, are making sure to keep a thumb on the scales in favor of the colleges which are favored by the wealthy and powerful as status symbols.
After all, when the high level executives and other wealthy patrons are third generation legacies and donors, or recent money who has invested huge amounts of resources obtaining a status symbol college degree for their kid (or their parents obtained for them), they don’t want a ranking system that tells them that the symbol may not provide as much status as they believe.
The absolute best way to put that thumb on the scales is to ignore the effects of family wealth on graduation rates, retention, and career outcomes after college. If you manage to fit in test scores, which are also correlated to income, that’s another finger on the scale. So you measure the “success” of a group which is has been set up for success since birth, and of course it will be vastly better than the “success” of a group which has been set up for failure.
Ultimately, though, including things like selectivity is a huge issue when ranking how “Good” a colleges is, even assuming that selectivity does NOT favor the children of the wealthy and influential. Almost every factor used is a assessment of attributes, both nature and nurture, that result in financial success.
Back to my metaphor - If a hospital only admits patients who are not very sick, it is ridiculous to call this hospital “The Best Hospital In The World”, based on their recovery rate.
To use another metaphor, these colleges are only accepting students who were born on third base, and then are claiming that they are “The Best” because they have more home runs than colleges which focus on students who are starting in the Batter’s Box with two strikes.
I’m not against selectivity, by any means. However, the mission of any undergraduate college is to provide education. Any scale for assessing “best” should be an assessment of how well the college fulfills that mission. Choosing only those students who are most likely to do well in college, and graduate, does not fulfill this Mission any better than does choosing students who will likely struggle, academically and financially, and doing what the college can, to provide an education to these students.
Being selective makes a college a better place for students who are academically skilled and talented. Having such colleges is important to society as a whole. However, colleges which accept students who are not as talented academically, and providing them a higher education is just as important to society.
MIT does not fulfill it’s mission of educating undergraduates any better than does, say, Pasadena Community College, just because they accept 4% of their applicants, while Pasadena CC is non-selective. MIT is also not better because their graduates are more highly paid that graduates of Pasadena CC.
However, every one of these ranking systems claims that MIT is at least 600 ranks above Pasadena CC, because they are more selective, and they train the students for high paying jobs.
The only ranking that makes sense is the personal ranking of the applicant, which should be based on the needs, the preferences, the strengths, and the weaknesses of the applicant. BTW, “needs” include costs and major, while “preferences” includes things like size, location, and character.