Jul 25, 2013 03:46 AM EDT By Staff Reporter, UniversityHerald Reporter

Harvard Business School has been ranked the best business school in the world by American hiring professionals in a survey organised by Business Insider. The Ivy League school has toppled last years' winner, Stanford University to the second place in the list. Around 77 percent of the professionals credited Harvard for giving students one of the most reputable degrees in the world.

The majority of the professionals who took part in the survey said that the factors like skills, knowledge and a network of contacts makes a B-school standout among its counterparts.

Yale's School of Management, that was ranked 14^th in last year's survey, has been called the second most prestigious business school in the world by 60.2 percent of respondents.

Around 58.3 professionals voted for Stanford University as the third top tier school for business education. Regarded as one of the prestigious universities in the world, only 7 percent are enrolled into the full-time MBA program.

Columbia Business School brings fond memories to many America's top public figures including Red Cross CEO Gail McGovern and Berkshire Hathaway CEO Warren Buffett. The school is placed fourth on the list with 47.8 percent votes.

With 44.0 percent scorecard, professionals called Duke University's Fuqua School of Business as the fifth best business school the world. The university made tremendous improvement this year as it jumped up 10 places in this years' list.

Cornell's Johnson Graduate School of Management is placed sixth in the list with 39.5 percent votes. The school offers a standard, two-year full-time MBA, or an accelerated 12-month MBA program.

Cornell is then followed by MIT's Sloan School of Management, Cambridge's Judge Business School, Oxford's Saïd Business School and Boston University's School of Management.

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