The Wall Street Journal this week released its 2010 Executive MBA Rankings, with the Wharton School at the University of Pennsylvania snagging the number one spot, up from number two in 2008. Rounding out the top five this year were, in decreasing order, Washington University’s Olin School, Thunderbird School of Global Management, the University of Southern California’s Marshall School of Business and Northwestern University’s Kellogg School of Management.

To compile its rankings, the Journal surveyed thousands of alumni and corporations about the quality of EMBA programs and how well they improve candidates’ management and leadership skills. According to the Journal’s own analysis, Wharton came out on top because it met the needs of both students and corporations well, providing more than 30 electives, classes in Philadelphia and San Francisco and additional career services personnel.

This year’s rankings come amid some major shifts in the EMBA landscape since the Journal first released its rankings in 2008. In the aftermath of the financial crisis, fewer corporations are sponsoring employees to pursue EMBAs, leaving students to pay their own way. As a result, students are demanding more from EMBA programs in terms of course selection and specialization options, career services and job placement.

At the same time, the primary motivation for obtaining the degree has shifted from advancing within an existing career to finding a new job, according to the Journal. This year, 35 percent of survey respondents said their top reason for getting an EMBA was to help them change careers or industries, compared with 29 percent who cited hoping to get a promotion at their current company as their primary motivation. In years past, business school administrators say most students have pursued the EMBA as a means of moving up within their own company, the Journal reports.

For the complete Wall Street Journal 2010 EMBA Rankings, click here. For a sortable chart of the top 25 programs, click here.

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