Washington University’s Olin School of Business has the 28th-best MBA program in the country, according to Business Week’s new biennial rankings. That’s down a notch from 27th place in the 2006 ranking, and a fair bit below the 17th-place slot that Olin held a decade ago. The Olin undergraduate program still rates in the top 20; it’s No. 15 in the latest rankings. BusinessWeek.com’s slide show on the top schools contains this comment about Olin:

Students like the small classes and attentive faculty, but career services has few fans.  

St. Louis University’s Cook School of Business doesn’t merit a mention in the MBA rankings, but it gets 71st place among undergrad programs. The University of Illinois ranks 18th for undergrads and the University of Missouri places 76th.