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This research looks at the value created for business school graduates across three areas: financial performance, employability performance, and overall student satisfaction with the school. Based on signal theory, a study involving thirty-seven French business schools identifies the main levers for creating value for graduates and highlights the unique role of business school rankings as a sign of quality and a mediator of value creation for graduates. This research offers lines of thought that should be considered by business school deans, prospective students, and those who publish business school rankings.