Earlier this month, Forbes released their “Best Business School” rankings for the year, and guess who was on the list for the very first time?

That’s right, the David Eccles School of Business at the University of Utah was ranked by Forbes in 2013, coming in at No. 65.

About 100 schools were reviewed for the rankings, according to Forbes’ ranking expert, Kurt Badenhausen. Only the top 70 were chosen to appear on their list.  Utah came in above schools such as The University of Miami (FL), Pepperdine, and Colorado—both a regional and Pac-12 competitor.

Forbes based their eighth biennial ranking of the best business schools solely on “return on investment,” by surveying MBA students from the class of 2008. The grads were asked for their pre- and post-MBA salaries, and schools were only considered for the rankings if at least 15% of the class responded. Forbes also took into account the actual cost of the MBA program, including tuition and fees, as well as the foregone salary during the two years students were in school and a few additional calulations to complete their ROI picture.

The news of being included in the Forbes list comes on the heels of the David Eccles School of Business increasing its ranking more than any other school—jumping 23 spo