Rankings Undergraduate Business Schools

NYU Stern’s business undergraduate programs are immersed in the heart of New York City, exposing students to high-profile industries on Wall Street and beyond. NYU business graduates can pursue jobs in areas such as marketing, sales, or finance, to name a few of the many documented career outcomes.

Ranking: U.S. News’ Best Undergraduate Business Programs Of 2024

The University of Pennsylvania’s The Wharton School has topped the U.S. News & World Report’s Best Undergraduate Business Programs of 2024 ranking released today (September 18).

The top of this year’s rankings is remarkably similar to last year’s. Because the methodology of the U.S. News ranking creates a lot of ties, there are actually 11 schools ranked in the top 10 this year, compared to 12 in the 2023 ranking. University of Virginia McIntire School of Commerce dropped four points to No. 12 this year after tying with several schools last year for No. 8.

The only other change to this year’s top 10 are that University of Texas at Austin McCombs School of Business and Carnegie Mellon University Tepper School of Business essentially swapped places. Tepper fell two spots to No. 7 while McCombs climbed two spots to No. 5. See U.S. News’ 2024 top 10 business programs in the table below.

A METHODOLOGY WITH A LOT OF TIES

While U.S. News reports that it made “significant” changes to its methodology for ranking the best colleges and universities, it left the methodology for ranking its undergrad business programs untouched.

The rankings magazine asked deans and senior faculty at the 523 undergraduate business programs accredited by the AACSB International to rank schools on a scale from 1 (marginal) to 5 (distinguished). It determined average scores by computing a trimmed mean – eliminating the two highest and two lowest scores.

The ranking is based solely on this survey, making the list more like a popularity contest. It also creates a lot of ties because there are only 5 points on the scale and so it is difficult to create distance between programs. That’s why there are six schools in the top five, 11 schools in the top 10, and 102 schools in the top 100. In fact, 19 schools tied for No. 84 and 15 schools tied for No. 47. (You can see the full list of schools who made it into the Top 100 on page 4).

U.S. news surveyed deans and senior faculty members in the spring and early summer of this year. It had a 49.9% response rate.

BERKELEY HAAS TIES FOR SECOND

Haas School of Business at University of California-Berkeley tied for No. 2 in U.S. News’ undergraduate business programs. One year ago, it announced that it will expand its two-year business program into a four-year program, enrolling its first four-year business students in August 2024.

The University ranked 15th overall in U.S. News’ Best Colleges and Universities ranking, tied for No. 1 in public schools and 114th for social mobility. For business speciality programs, it finished in the top five in entrepreneurship, management, marketing, quantitative analysis and real estate. (See more on the business specialty rankings on page 3.)

“We are proud of the exceptional education and opportunities for upward social mobility that our Berkeley Haas Undergraduate Program provides,” Emma Hayes Daftary, assistant dean of undergraduate programs, tells Poets&Quants. “With applications about to open October 1 for our new four-year Spieker Undergraduate Business Program that will launch in Fall 2024, we are also creating new programs and experiences for our current students and for the inaugural Spieker class.”

And, in almost any business school ranking, The Wharton School is going to end up toward the top. Its undergrad program has topped Poets&Quants’ ranking five out of six years.

Besides its No. 1 spot in U.S. News’ undergrad business programs, it ranked in the top five in analytics, finance, international business, management, marketing, operation management, quantitative analysis and real estate. Its parent school, University of Pennsylvania, ranked No. 6 overall in best colleges and universities.

NEXT PAGE: U.S. News 50 Best National Universities

PAGE 3: U.S. News ranking by business specialization

PAGE 4: U.S. News 100 Best Undergraduate Business Programs

Top Undergraduate Business Schools

Reflecting the importance of business in America, many undergraduate colleges and universities in the United States offer a business major in their course catalogs. Further, at most schools, there are extensive business and business-related majors that undergraduate students can choose from, including but not limited to business administration, economics, entrepreneurship, finance, international business, marketing, public relations, and sales. Graduate programs in business are also extremely popular in the United States.

An undergraduate degree from a top business school prepares students for careers in the fast-paced business world. Due to the exclusive nature of many business careers, aspiring working professionals can get a leg-up on other entry-level applicants with a business degree from one of the best undergraduate business schools in the nation. Since there are many options to choose from, prospective students often turn to an undergraduate business school’s ranking to determine where they should apply.

This article will discuss the top-ranking business schools in the United States, before addressing frequently asked questions about topics such as admissions strategies and the potential benefits of earning a business degree.

Undergraduate Business Schools Ranking Methodology

Many different organizations, such as US News and World Report, publish university rankings annually. These rankings may be based on specific majors or based on the university’s statistics overall. Undergraduate business schools are often ranked based on the quality of the students they admit, student perspectives on the academics of the program, and the students’ career outcomes after graduation.

Top Ranking Undergraduate Business Schools

The current top 10 undergraduate business schools are listed below.

University of Pennsylvania

Based in Philadelphia, Pennsylvania, UPenn was founded by Benjamin Franklin. At the Wharton School at Penn, students can pursue undergraduate degrees in finance, econometrics and quantitative economics, or business administration and management. The undergraduate business programs at the Wharton School prioritize academic ambition and interdisciplinary learning.

Massachusetts Institute of Technology (MIT)

MIT is a university located in Cambridge, Massachusetts commonly known for its renowned engineering programs. However, the school also offers distinguished undergraduate business programs including management sciences and quantitative methods.

University of California, Berkeley

Berkeley, California is home to UC Berkeley, one of the first business schools part of a public university. Prizing leadership skills, extracurricular commitments, and a global perspective, UC Berkeley offers a competitive Bachelor of Science degree from the Haas School of Business Undergraduate Program.

University of Michigan

The University of Michigan is based in Ann Arbor and students are known for their school spirit. Prospective business majors are asked to apply to the Literature, Sciences, and the Arts (LSA) college and indicate their interest in Michigan’s Ross School of Business.

New York University (NYU)

NYU Stern’s business undergraduate programs are immersed in the heart of New York City, exposing students to high-profile industries on Wall Street and beyond. NYU business graduates can pursue jobs in areas such as marketing, sales, or finance, to name a few of the many documented career outcomes.

University of Texas Austin

Local links to the energy industry are reflected in University of Texas at Austin’s College of Business Administration. Their Bachelor of Business Administration degree program focuses on producing well-rounded graduates who have a strong understanding of how businesses operate.

Carnegie Mellon University

CMU Tepper is based in Pittsburgh, Pennsylvania, and it is distinguished from other schools for its entrepreneurial spirit and professional focus. Its undergraduate business program provides students with a unique opportunity to work with graduate students on their research projects.

Cornell University

Cornell University’s Johnson School of Management is located in Ithaca, New York, and offers unique business majors, including hotel administration. Further, numerous concentrations exist for students studying applied economics and management, including agribusiness management, business analytics, and food industry management.

University of North Carolina, Chapel Hill (UNC)

UNC, a university based in Chapel Hill, North Carolina, is known for being the first public university in the United States. Business administration students at UNC Kenan-Flagler learn about core business disciplines in addition to participating in a liberal arts curriculum, which includes courses in fine arts, humanities, and natural and social sciences.

University of Virginia (UVA)

UVA’s McIntire School of Commerce is in Charlottesville, Virginia. Students studying to receive a B.A. in Commerce can choose one of the following concentrations: accounting, finance, information technology, management, or marketing. UVA’s business programs merge their academic curriculum with real-world experiences, giving business students the skills to thrive in today’s corporate climate.

Business School Frequently Asked Questions (FAQs)

After learning a little more about the nation’s best undergraduate business schools, you might have some further questions. The next section of this article addresses some FAQs about undergraduate business programs.

What Are the Components of an Undergraduate Business School Application?

If you want a bachelor’s degree in business or business administration, you will first need to complete an application to the schools of your choice. High school students applying to the nation’s best business schools should ensure that their application is well-rounded, demonstrating their interest in the specific school of business they are applying to and highlighting their academic strengths.

They may also need to submit supplementary materials such as essays, official high school transcripts, letters of recommendation, and standardized test scores (ACT or SAT).

What Are Some Admissions Strategies to Get into the Best Undergraduate Business Schools?

A student’s school of business application is an excellent place to explain their reasoning for wanting to pursue business at the undergraduate level. Applicants should give concrete examples of why they will succeed in an undergraduate business school, drawing on previous leadership experience and their past use of problem-solving and communication skills. Business school admissions committees are looking for undergraduate students with a clear passion for business who will become active participants on campus.

What Does the Business Degree Entail?

Undergraduate business programs teach management skills such as leadership, communication, problem-solving, and project management. Students connect with their peers and gain a global perspective at top business schools, learning about a wide range of topics such as sustainable business and business strategy.

Further, many business programs give undergraduate business students the opportunity to choose a concentration in addition to taking core business courses. Concentrations or certificate programs may include options such as operations management, business technology, and global economics.

Some undergrad business schools also incorporate a liberal arts curriculum into their business education, giving business graduates a well-rounded, comprehensive college education.

Researching Top Undergraduate Business Schools

Each of the nation’s best undergraduate business schools has a distinct campus culture. Prospective students should ask themselves what is most important to them before choosing to attend a specific business school. Although rankings do matter, it is vital for the environment of the school of business to match up with the individual, allowing them to grow and thrive on campus.

Although personal research can be helpful in learning more about a school of business and its business programs, a campus visit is the most helpful means for prospective students to figure out if they fit in a school’s campus community.

What Are the Benefits of Earning a Bachelor’s Degree in Business?

Earning an undergraduate degree in business increases your employability and credibility in the business world. Further, you will have more business career flexibility and versatility with an undergraduate business degree from one of the best business programs in the United States.

What Career Opportunities Does an Undergraduate Business School Offer?

An undergraduate business degree opens the door to extensive work opportunities. You can get many jobs with an undergraduate business degree, including high-paying managerial positions in areas such as sales, marketing, and engineering. Graduates of the best undergraduate business programs have entered careers in food industry management, corporate finance, supply chain management, and business analytics, among many other professions.

Conclusion

In-person and online business programs have become extremely popular to study at the undergraduate level. Earning a bachelor’s degree in business teaches students the leadership skills needed to thrive in business management careers. Business degrees aid in the professional development of future working professionals, increasing their general business skills and ultimately preparing them for a competitive and exclusive work environment.

The choice to attend an undergraduate business school depends on the personality and aspirations of each individual. Further, choosing which school of business to attend requires even more soul-searching. If your heart is set on joining the ever-growing business world, earning a degree from one of these world-class programs will not lead you astray.