This paper complements and extends the literature analysing the relationship of global rankings on universities' strategies, missions, structures, and functions. Specifically, it examines the extent to which global rankings have influenced development strategies of one Chilean university through administrator's perception and changes in the strategic planning. Interview and documentary data were collected at two points in time (2014 and 2017), mainly through semi-structured interviews with 18 university administrators and college deans. Findings suggest a relationship between the university's ranking position and its perception of academic excellence. However, rankings have effects that are not only perceptual. High ranking positions increase global visibility, promote international partnerships and collaborations that benefit academic staff. At the same time, the university finds itself increasingly bound by the current global standards on academic search, appointment, promotion, and evaluation. Findings suggest that universities are rarely passive recipients of the influence of rankings, they seek opportunities to leverage them to their strategic advantage, more when the ranking benefits their visibility.