The Economist ranked the Kellogg School of Management as the 20th best business school in the world in the latest installment of the magazine’s rankings.

The ranking marks a slight decline for Kellogg in The Economist’s ratings, as Kellogg was ranked 18th last year and 16th in 2010.

The magazine ranked 100 business schools internationally and judged them on criteria including career opportunities, potential salaries and alumni networks. The University of Chicago’s Booth School of Business moved up to the top spot on the list after ranking second in 2011.

Lisa Akey, a Kellogg senior, said she was not surprised by the ranking and noted discrepancies with other magazine rankings.

“The Economist ranks us low every year,” she said. “If you look at U.S. News & World Report or Business Week, we’re ranked really high.”

In the 2013 U.S. News & World Report rankings, Kellogg and The University of Chicago’s Booth School of Business are tied for the fourth spot on the list. Business Week ranks Kellogg fourth and Booth first in its latest list.

Kellogg Prof. Mark Finn, however, said he pays little attention to business school rankings.

“I don’t understand those rankings and I don’t know much about them,” Finn said.

Despite the decline in Kellogg’s international ranking, The Economist ranked Kellogg 14th regionally and noted the school’s renowned faculty and staff.

“The school has a deserved reputation as a marketing powerhouse, but finance and general management are also popular majors,” the magazine said on its website. “A commitment to student needs in every programme from the full-time MBA to executive courses, coupled with top-notch faculty and high-powered staff, have created a unique and engaging culture at Kellogg and stimulated a lot of loyalty.”

Weinberg senior Brian Ran, said he believes the magazine should have ranked Kellogg higher.

“I think we should be in the top 10,” Ran said. “But then, you have to consider different programs.”