UMass Boston’s College of Management was recently ranked among the 296 best business schools in the country according to the 2009 Princeton Review.

“We are pleased to recommend the College of Management at UMass Boston to readers of our book and users of our website as one of the best institutions they could attend to earn an MBA,” said Robert Franek of Princeton VP-Publishing.

Although it is unknown how high UMB’S College of Management, or CM, ranked among the 296 top business schools, the CM ranked highly for its competitiveness, affordability, and distinguished faculty.

“Our program ranks comparable if not better than Suffolk, Babson, BU, and BC’s management programs,” said William Koehler, the College of Management Graduate Programs Director. “We are in the top 10% of business schools in the nation,”

Koehler confirmed that the Princeton Review accurately portrayed the UMB management program’s strengths and weaknesses, with a big strength being affordability.

“[Although] bang for the buck is hardly the only reason for choosing the MBA program at UMass Boston, it’s such a huge perk that few students can resist citing it as one of their primary motivations for attending,” reads the Princeton Review. “Many chose this program over more prestigious but also more expensive private school alternatives.”

The review also mentioned the flexibility and congruency UMB’S program offers students who register in part-time and full-time programs. Students can float between being part-time or full-time depending on what they can handle as working adults and busy family members. Unlike many other colleges, they don’t have to reapply to change their status and the application deadlines are not sooner if students apply for part-time.

“This ranking is good for the program, school and alumni,” said Koehler. “It helps the reputationof UMass Boston as a whole.”

Not only is UMB’s CM a leader in research, but also, many CM instructors have taught at Harvard, BU, or BC, and the professors and faculty are committed to improving the University and supporting the economic development in greater Boston.

“Being ranked in Princeton’s Review is good news for us. This adds to Chancellor Motley’s envisioning UMB as a successful urban university. We maintain a high quality education with excellent teaching and research for a defined mission. We have smart, motivated faculty members working toward [achieving] an international, global workforce,” said MBA professor Pacey Foster.

Foster and Koehler said they believe the ranking will have an impact on admissions and rising applications. They agreed that the high ranking would bring positive reflection and attention to UMB’s Management programs.

“For a young state school strapped for funding, this ranking confirms how good the program is. The ranking will draw more students here and increase the amount of applicants. This is good news at a challenging time,” said Foster. “A rising tide carries all boats.”

With an MBA from UMB, the average base starting salary is $77,000 and the top five employers include State Street Corporation, Bank of America, Ernst & Young, Fidelity Investments, and Price Waterhouse Coopers.

“At UMass Boston, a lot of our students are young working families trying to get a leg up in their careers,” said Foster. “I am willing to work hard for those folks. This ranking helps me do that by validating the program,” said Foster.

There are currently approximately 3,000 business schools and 2,000 colleges in the United States offering an MBA.