Best B-Schools: Chicago and Harvard Repeat as No. 1 and 2

The first- and second-place finishers in Bloomberg Businessweek's biannual rankings of the top full-time MBA programs are repeat winners. Both landed atop the list again in 2010 after doing so in 2008, the last time the rankings were published.

University of Chicago's Booth School of Business edged out Harvard Business School for the top spot, thanks to higher marks for teaching quality. Both schools got top scores for their career-services departments, helping their overall rankings as the job market for MBAs worsened since the last survey. (See interactive table with full results).

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University of Pennsylvania's Wharton School earned the No. 3 spot, followed by Northwestern's Kellogg School of Management. Stanford's program ranked No. 5 overall, but is tops for post-graduate average salary ($120,000) and for being the hardest to get into. The schools that gained the most in the rankings were Georgia Tech (to 23 from 29 in 2008) and Southern Methodist (to 12 from 18). Falling the most were New York University (from 13 to 18) and Brigham Young (from 22 to 27).

Bloomberg BusinessWeek's top tier also had some newcomers: The University of Minnesota's Carlson School of Management and Michigan State's Broad Graduate School of Management, ranked No. 28 and No. 20, respectively. Rice University's Jones Graduate School of Business (No. 29) and Texas A&M's Mays Business School (No. 20) were ranked for the first time. (See slide show of top-tier schools).