Best Undergraduate Business Schools Forbes

Last Updated on September 5, 2022 by Smile Ese

Rankings are an excellent way to assess the quality of a school. When it comes to business and management studies, the Undergraduate Business Schools Rankings by Forbes offer a good place to start. The rankings are based on quantitative and qualitative data collected from more than 1,200 business schools worldwide.

If you are considering applying to business school, you may already know that the number of applicants to full-time MBA programs has been in decline for several years. While there are many reasons for this trend, one of the most influential factors is the increasing quality and popularity of undergraduate business education. This post explores the facts of Best Undergraduate Business Schools 2021, then best undergraduate business schools forbes, best undergraduate business schools in the world, best colleges for business and finance and best business schools undergrad in the world.

That’s right—in many cases, companies would actually prefer to hire a recent undergraduate than someone who has completed an MBA program. This is particularly true in the finance sector, where companies have realized that undergrads can often make just as much of an immediate practical contribution at work as MBA grads can, and they cost a lot less money to hire!

Wharton is a powerhouse of opportunity. Students lucky enough to overcome the school’s high admission hurdles are awarded with one of the best undergraduate teaching experiences in the world. And when they graduate, world-class employers are waiting for the school’s graduates with open arms. Some 95% of the graduates land jobs within three months of commencement at starting base salaries and sign-on bonuses that bring starting pay to a record $92,057 this year.

Wharton’s rise to the top of the list begins in the admissions standards category. With a 6.49% acceptance rate, it’s tougher to get into Wharton’s undergraduate program than its full-time MBA program which has an acceptance rate nearly three times higher at just under 20%. Eight schools have an acceptance rate that is as selective or more selective than the 11% admit rate at the full-time MBA program at Harvard Business School. Cornell’s Dyson School of Applied Economics and Management is the most selective this year, sending invites to just 2.9% of applicants for fall 2018 entry. The average acceptance rate among all 88 ranked schools for the entering Class of 2018 was 43.7%

In terms of average SAT scores for the incoming Class of 2018, Washington University’s Olin Business School boasted the highest score at 1,510 on the new 1600-point scoring scale. Southern Methodist University’s Cox School of Business followed with 1,494. The University of California-Berkeley Haas School of Business followed with a 1,490 average. Wharton was next, averaging 1,486. The average SAT among all participating schools was 1,308, a score in the 87th percentile, meaning that only 13% of all test takers scored that well or better.

In all, 88 different undergraduate business school are ranked this year by Poets&Quants based on three equally weighted core categories — admissions standards, the student experience, and career outcomes. The ranking takes into account completed surveys from  more than 11,000 recently graduated students from the ranked schools along with detailed surveys from nearly 100 undergraduate business schools in the U.S.

Alumni surveys show that graduates of these ranked schools are an extraordinarily satisfied bunch. Asked on a range of one to ten, with ten being the most positive answer possible. whether they would recommend their alma mater to a close friend or colleague, alumni from some 71 of the 88 ranked schools scored a nine or above. At the very top on that question is Boston College’s Carroll School of Management, which ranked ninth overall. 

Forbes Best Business School Ranking (United States)

Forbes‘s biennial Best Business School ranking is broken up into two separate lists, analyzing graduate schools in the U.S. and abroad. The lists take into account the average financial gain MBA graduates accumulate five years after graduation, how long it takes to fund the degree, and the average pre-MBA and post-MBA salary growth. Take a look at the publication’s top U.S. business schools in 2019 below.

#1: University of Chicago Booth School of BusinessExpand

#2: Stanford University Graduate School of BusinessExpand

#3: Northwestern University Kellogg School of ManagementExpand

#4: Harvard Business SchoolExpand

#5: The Wharton School at the University of PennsylvaniaExpand

#6: Dartmouth College Tuck School of BusinessExpand

#7 (tie): Columbia Business SchoolExpand

#7 (tie): MIT Sloan School of ManagementExpand

#9: Cornell SC Johnson College of BusinessExpand

#10: Univesity of Michigan Ross School of BusinessExpand

The 11 Best Undergraduate Business Schools

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Business is a great college major, especially for those who are creative, innovative, and see themselves as leaders. A business major is the best of both worlds because a student will leave school with a degree that is both broad and practical. Like any other major, the school you attend will give you an advantage as you set out on your career one day.

Attending a school with a strong business undergraduate program will give you a leg up in your experience, potential job offers and even your starting salary, so it’s important to choose wisely. Your future is a marathon, not a sprint, so take your time to research and visit schools if you’re set on majoring in business and attending one of the top undergraduate business schools.

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Business management courses in the USA are designed to prepare students for careers in business, hospitality, and management. These programs often include general education courses, as well as specialized business classes. Some of the areas of study within business management degrees can include human resources, project management, accounting, law, finance and marketing. There are several different types of universities in the US that offer Master programs in Business Management.

Students who wish to enroll in a Master program in Business Management have a wide range of universities available to them. You can attend a large research university with many graduate students or a small liberal arts college with just a few hundred students. There are also several types of universities that offer Master programs in Business Management: public state colleges and universities, private non-profit colleges and universities and private for-profit colleges and universities. Students who are interested in attending a Master program at one of these three types of universities should consider their goals before choosing which type to attend.

One type of university offering Master programs in Business Management is the University of Texas at Austin. The University of Texas at Austin is a large research university located in Austin, Texas. The school offers Bachelor’s degrees in Accounting, Business Administration, Economics and Finance.

Best Undergraduate Business Schools 2021

We begin with Best Undergraduate Business Schools 2021, then best undergraduate business schools forbes, best undergraduate business schools in the world, best colleges for business and finance and best business schools undergrad in the world.

School #1: University of Pennsylvania

One of the world-famous Ivy League schools, the University of Pennsylvania is a private institution that was founded by Benjamin Franklin in 1740.

As the world’s first collegiate business school, the university’s Wharton School delivers some of the best business programs globally and is one of the largest and most-published business school faculties. It was ranked #1 in the U.S. News and World Report’s Best Undergraduate Business Schools category for 2021, and also in Niche’s rankings of Best Colleges for Business in America. It has also been number 1 for Business Schools in the US by Forbes for the last four consecutive years.

Founded in 1881, Wharton now comprises 10 academic departments including Accounting, Business Economics and Public Policy, Finance, Healthcare Management, Legal Studies and Business Ethics, Management, Marketing and Statistics.

Location

Philadelphia

Tuition

Its tuition and fees are $60,042 (taken from U.S. News and World Report)

Acceptance Rate

University of Pennsylvania admissions is highly selective, with an acceptance rate of 8% (taken from U.S. News and World Report).

School #2: Harvard University

Located outside Boston in Cambridge, Massachusetts, Harvard University is made up of 13 schools and institutes, including the top-ranked Business School. Part of the prestigious Ivy League, it is a highly selective private institution that was founded in 1636.

In addition to offering some of the best business programs in the world, Harvard Business School boasts its own unique history and outreach efforts. The first MBA program in the world was started at Harvard in 1908. Global research centers affiliated with the school have been established in Japan, Europe, India, and other countries. Harvard has established a vast network of faculty members and alumni around the world that includes over 300,000 alumni in more than 200 countries.

Location

Cambridge, Massachusetts

Tuition

Its tuition and fees are $54,002

Acceptance Rate

Harvard University admissions is highly selective, with an acceptance rate of 5%

School #3: MIT

Founded in 1861, MIT is regarded as one of the world’s premier universities.

Like so many of its schools, MIT’s Sloan School of Management is renowned for academic excellence. It was ranked #2 in the U.S. News and World Report’s Best Undergraduate Business Schools category for 2021.

MIT Sloan boasts 14 Action Learning Laboratories that focus on entrepreneurship, sustainability, and global health. More than 1,300 students, including undergraduates and business executives, participate in 10 academic programs. Classes are taught by approximately 200 experienced professors and lecturers.

Location

Cambridge, Massachusetts

Tuition

Its tuition and fees are $53,818.

Acceptance Rate

Massachusetts Institute of Technology admissions is most selective with an acceptance rate of 7% and an early acceptance rate of 7.4%

School #4: University of Michigan – Ann Arbor

The University of Michigan—Ann Arbor is a public institution that was founded in 1817, and was therefore one of the first public universities in the US.

UM’s Ross School of Business was established in 1924 and school currently offers degree programs that include a Bachelor of Business Administration, Management, Supply Chain Management. It was ranked 4th by Forbes in its Best Business School category in 2021.

Classes are taught by 151 experienced faculty members. Enrollment figures show over 3,000 students beginning annually and the network includes 45,000 alumni in over 88 countries.

Location

Ann Arbor, Michigan, 45 minutes from Detroit

Tuition

Its in-state tuition and fees are $15,948; out-of-state tuition and fees are $52,266.

Acceptance Rate

University of Michigan–Ann Arbor admissions is selective, with an acceptance rate of 23%.

School #5: UC Berkeley

University of California—Berkeley is a public institution that was founded in 1868. Berkeley has always been known for its progressive academic training and research initiatives. Most research is cross-disciplinary and focuses on contemporary global issues.

Berkeley’s Haas School of Business is the second-oldest business school in the country. Six degree programs are offered to over 2,200 students who come from around the globe. The programs and research are organized into three institutes: the Institute for Business Innovation, the Institute for Business and Social Impact, and the Energy Institute. Business school grads make up an alumni network of approximately 40,000, located all over the world.

It was ranked #3 in the U.S. News and World Report’s Best Undergraduate Business Schools category for 2021.

Location

Berkeley, California

Tuition

Its in-state tuition and fees are $14,226; out-of-state tuition and fees are $43,980.

Acceptance Rate

University of California–Berkeley admissions is most selective with an acceptance rate of 17%.

School #6: University of Texas at Austin

The University of Texas at Austin is a public institution that was founded in 1883. It is located on an urban campus in one of Texas’ major cities.

The university’s McCombs School of Business was ranked #5 (jointly with New York University) in the U.S. News and World Report’s Best Undergraduate Business Schools category for 2021.It ranked #1 for Accounting programs.

It offers the following departments and concentrations: accounting, consulting, entrepreneurship, finance, general management, international business, marketing, management information systems, not-for-profit management, production/operations management, portfolio management, public policy, real estate, and supply chain management/logistics.

Location

Austin, Texas

Tuition

Its in-state tuition and fees are $11,106; out-of-state tuition and fees are $39,322.

Acceptance Rate

University of Texas at Austin admissions is selective, with an acceptance rate of 32%.

School #7: USC

University of Southern California is a private institution that was founded in 1880. The Marshall School of Business is one of the university’s many schools and colleges, and is known to emphasize entrepreneurship and innovation, collaborative research and social responsibility.

Location

The University of Southern California’s central campus, referred to as the University Park campus, is located in LA’s Downtown Arts and Education Corridor. USC has other campuses in the city, in addition to sites around Southern California and in Sacramento, and Washington, D.C.

Tuition

Its tuition and fees are $59,072.

Acceptance Rate

University of Southern California admissions is most selective with an acceptance rate of 11%.

School #8: New York University

New York University is a private institution that was founded in 1831. Situated in the borough of Manhattan, NYU is one of the largest degree granting institutions in the world.The university’s Stern Business School was ranked #5 (jointly with the University of Texas at Austin) in the U.S. News and World Report’s Best Undergraduate Business Schools category for 2021, and 3rd by Forbes in its Best Business School category in 2021


Location

New York City

Tuition

Its tuition and fees are $54,880.

Acceptance Rate

New York University admissions is very selective, with an acceptance rate of 16%.

School #9: Cornell University

Cornell University is a member of the Ivy League/Ancient Eight and it is described as the first truly American university because of its founders’ revolutionary egalitarian and practical vision of higher education.

The university’s college of business includes the Dyson School, Johnson, and the School of Hotel Administration. It currently has 255 faculty, spanning eight areas of business and four interdisciplinary themes, and there are – at present – over 43,000 alumni in the SC Johnson College of Business network.

It was ranked #7 (jointly with University of North Carolina-Chapel Hill) in the U.S. News and World Report’s Best Undergraduate Business Schools category for 2021, and 9th by Forbes in its Best Business School category in 2021.

Location

Ithaca, New York

Tuition

Its tuition and fees are $59,316.

Acceptance Rate

Cornell University admissions is highly selective with an acceptance rate of 11%.

School #10: University of North Carolina – Chapel Hill

University of North Carolina—Chapel Hill is a public institution that was founded in 1789, and is widely considered the first public university in the nation

It was ranked #7 (jointly with Cornell University) in the U.S. News and World Report’sBest Undergraduate Business Schools category for 2021.It was ranked 4th by Forbes in its Best Business School category in 2021.

Location

Chapel Hill, North Carolina

Tuition

Its in-state tuition and fees are $9,021; out-of-state tuition and fees are $36,20.

Acceptance Rate

University of North Carolina–Chapel Hill admissions is selective, with an acceptance rate of 23% and an early acceptance rate of 28.1%.

The above have been selected as 10 of the top business schools for undergraduate study, however the following institutions are also widely recognized for the high quality of their business programs:

  • Yale University
  • Carnegie Mellon’s Tepper Business School
  • Dartmouth College’s Tuck School of Business
  • Emory University’s Goizueta Business School
  • Kellogg School of Management at Northwestern University
  • Kelley School of Business at Indiana University
  • Columbia University
  • Duke University’s Fuqua School of Business
  • Mcdonough Business School at Georgetown University
  • Washington University in St. Louis’ Olin Business School
  • University of Minnesota’s Carlson School of Management
  • Booth Business School at the University of Chicago
  • Mendoza College of Business at the University of Notre Dame

best undergraduate business schools forbes

Now we consider best undergraduate business schools forbes, best undergraduate business schools in the world, best colleges for business and finance and best business schools undergrad in the world.

  • Forbes examined more than 100 schools and reached out to 17,500 alumni around the globe for our 2019 ranking of full-time M.B.A. programs where we ask one question: Is an M.B.A. worth it? It is not an easy answer when the costs in terms of tuition, fees and forgone compensation can top $350,000 at the leading schools. We compared graduates’ earnings in their first five years after getting their M.B.A. to their opportunity cost to arrive at a five-year M.B.A. gain, which is the basis for the final rank.

    Our survey of alumni indicates that a degree at a leading business school is still incredibly valuable and pays for itself in roughly four years. Graduates from the Class of 2014 at the top 25 U.S. programs increased their earnings from $73,000 on average before school to $193,000 last year. Earnings have increased 10% annually since graduation.

The List

  • #1 Chicago (Booth) more.
  • #2 Stanford. more.
  • #3 Northwestern (Kellogg) more.
  • #4 Harvard. more.
  • #5 Pennsylvania (Wharton) more.
  • #6 Dartmouth (Tuck) more.
  • #7 Columbia. more.
  • #7 MIT (Sloan) more.

best undergraduate business schools in the world

Now we discuss best undergraduate business schools in the world, best colleges for business and finance and best business schools undergrad in the world.

Now let’s come to the list of best undergraduate business schools in the world.  One thing to be noted is that the International University Rankings are released every year and there are changes in the positions of universities. However, the positions of the 25 best business schools don’t change much. They have held the top ranks and will continue to hold them for a good amount of time. The following list is in no particular order as each B-school here on this list is equally brilliant. 

harvard university

Harvard University – Harvard Business School

Beyond the prestige of the name, Harvard has established a vast network of faculty members and alumni around the world. It includes over 300,000 alumni in more than 200 countries. The first MBA program in the world was started at Harvard in 1908. That itself speaks why it is the pioneer in business education and one of the best undergraduate business schools in the world.

Massachusetts Institute of Technology – MIT Sloan School of Management 

MIT has always had the reputation of solving challenging programs that have a global impact. MIT Sloan School of Management continues in the tradition of academic excellence of the school at large. It boasts 14 Action Learning Laboratories that focus on entrepreneurship, sustainability, and global health. Classes are taught by approximately 200 experienced professors and lecturers. 

Recommended Reading: MBA in The USA: All You Need To Know

Stanford University – Stanford School of Business

Stanford is a common brand in education and research that remains unmatched. It currently has 7,000+ undergraduate students. There are over 2,000 qualified faculty members dedicated to the proliferation of knowledge and preparing students for leadership roles. It has some of the best business programs today. 21 members of the school’s staff have even received the Nobel Prize.

The University of California, Berkeley – Haas School of Business

The UC Berkeley BS in Business Administration degree program belonging to the HSB is one of the best undergraduate business schools in the world. This program is highly competitive and offers you the skills and knowledge necessary in the present business world. The curriculum is integrated with the liberal arts program to ensure that you are able to apply your knowledge in business, science, and art career paths. This program has relatively small class strength which allows peer-to-peer interaction and hence, letting you make the most of the program. 

University of Pennsylvania – The Wharton School

University of Pennsylvania’s Wharton School was the world’s first collegiate business school. It still remains one of the top business schools in the US. Bachelor of Science in Economics course provides you the option to drive where your business career should head. The program is flexible and allows you to take at least a third of your classes in the eleven other campuses of the University. This enables you to learn from other faculty members of the institution and gain maximum knowledge from the program.

Some More Top Undergraduate Business Schools

London School of Economics

Although a relatively small specialty school, the London School of Economics (LSE) is extremely diverse and inclusive. Its student population of 9,500 full-time students represents 140 countries and over 100 different languages. The academic departments are organised into 24 areas of education and 20 centers for research, with the main focus given to the areas of economics, management, finance, and the social sciences. Its global approach carries over into its alumni, who are found in over 190 countries which makes it one of the top undergraduate business schools in the world.

Also Read: The Ultimate Guide To MBA in The UK

The University of Oxford – Saïd Business School

Oxford has had an unquestionable global and historical impact. It is undeniably one of the best business schools for undergraduate studies in the world. Innumerable world leaders, brilliant thinkers, and reformers have attended Oxford. You too can choose to attend this prestigious university. The school’s reputation for excellence endures today. Oxford has been ranked first in the U.K. for quality of research and continues to produce more world-leading academics than any other U.K. university.

The University of Michigan – Ann Arbor, Ross School of Business

The University of Michigan’s Bachelor of Business Administration comes from the top-ranked Ross School of Business, one of the best undergraduate business schools in the world.

This program helps you to develop critical thinking and crucial business skills from top business minds across the globe. The university also offers a chance to study abroad in exchange programs, making it one of the top schools for business majors interested in international careers.

10 Best Undergraduate Business Schools in the World | 2021 -

University of Cambridge – Judge Business School

Cambridge has witnessed about 700 years of history. Yet the school’s modern teaching facilities, cutting-edge research, and public engagement keep it at the forefront of today’s leading institutions. 

Columbia University – Columbia Business School

Columbia University is one of the few schools established before the American Revolution. Columbia’s ever-evolving curriculum trends along with cutting-edge material have produced 13 winners of the Nobel Memorial Prize in economics. Its global network of over 40,000 alumni is evidence of Columbia’s successful and innovative traditions.

These were the top 10 best undergraduate business schools in the world. Another 15 universities have been listed below for your reference.

  1. Duke University
  2. University of Chicago
  3. Yale University 
  4. Northwestern University
  5. Cornell University
  6. Brown University
  7. National University of Singapore
  8. Tsinghua University 
  9. UCL
  10. University of Toronto
  11. New York University
  12. University of Washington
  13. University of Warwick
  14. Peking University
  15. The University of Tokyo 

best colleges for business and finance

University of Pennsylvania

University of Pennsylvania is a great choice for students pursuing a degree in finance and financial management. Located in the city of Philadelphia, UPenn is a private not-for-profit university with a very large student population. A Best Schools rank of #13 out of 2,576 colleges nationwide means UPenn is a great university overall.

There were approximately 771 finance and financial management students who graduated with this degree at UPenn in the most recent data year. Finance & Financial Management degree recipients from University of Pennsylvania receive an earnings boost of about $94,072 above the typical earnings of finance and financial management graduates.

Notre Dame crest

#2

University of Notre Dame

Any student pursuing a degree in finance and financial management needs to look into University of Notre Dame. Located in the large suburb of Notre Dame, Notre Dame is a private not-for-profit university with a fairly large student population. A Best Schools rank of #15 out of 2,576 schools nationwide means Notre Dame is a great university overall.

There were approximately 267 finance and financial management students who graduated with this degree at Notre Dame in the most recent year we have data available. Finance & Financial Management degree recipients from University of Notre Dame get an earnings boost of approximately $33,422 over the typical earnings of finance and financial management majors.

Yale crest

#3

Yale University

Yale University is one of the finest schools in the country for getting a degree in finance and financial management. Located in the midsize city of New Haven, Yale is a private not-for-profit university with a large student population. A Best Schools rank of #8 out of 2,576 colleges nationwide means Yale is a great university overall.

WUSTL crest

#4

Washington University in St Louis

Washington University in St Louis is a good decision for students interested in a degree in finance and financial management. Located in the suburb of Saint Louis, WUSTL is a private not-for-profit university with a fairly large student population. A Best Schools rank of #28 out of 2,576 colleges nationwide means WUSTL is a great university overall.

There were roughly 326 finance and financial management students who graduated with this degree at WUSTL in the most recent year we have data available.

Northwestern crest

#5

Northwestern University

Northwestern is a very large private not-for-profit university located in the city of Evanston. A Best Schools rank of #14 out of 2,576 schools nationwide means Northwestern is a great university overall.

There were approximately 68 finance and financial management students who graduated with this degree at Northwestern in the most recent data year.

best business schools undergrad in the world

London Business School (LBS) takes the prestigious title of the world’s business school for 2022, that’s according to the CEOWORLD magazine. MIT Sloan School of Management earned itself a respectable second place, with Wharton School is ranked third. The 2022 rankings placed Harvard Business School in fourth ahead of Saïd Business School (Oxford Saïd or SBS) into fifth; while Columbia Business School (CBS) ranked sixth and the Stanford Graduate School of Business (GSB) School seventh.

Overall, among the top 10 business schools, the eighth, ninth, and tenth positions are held by INSEAD Business School, Haas School of Business (Berkeley Haas), and the Yale School of Management (also known as Yale SOM).

Cambridge Judge Business School took the No. 11 spot, followed by the University of Chicago Booth School of Business (No. 12) and the Kellogg School of Management at Northwestern University (also known as Kellogg) (No.13).

Meanwhile, the New York University Leonard N. Stern School of Business (commonly referred to as NYU Stern, The Stern School of Business, or simply Stern) ranked No. 14 in the CEOWORLD magazine’s ranking of the best business schools in the world for 2022. UNC Kenan Flagler Business School came in fifteenth place, followed by Tuck School of Business at Dartmouth (sixteenth), Stephen M. Ross School of Business (Ross; formerly known as University of Michigan Business School) (No. 17), Duke University Fuqua School of Business (eighteenth), and IESE Business School ranked nineteenth.

business school lecturer

Out of the 100 best business schools in the world for 2022, Alliance Manchester Business School (Alliance MBS) ranked No. 20th. A number of parameters are used to compile the ranking, which is based on the satisfaction levels of individual students, industry professionals, and corporate recruiters. So, if you are thinking about boosting your prospects with a postgraduate-level degree in business, we have got just the thing for you; here are the best international business schools that can help advance your career:

Best Business Schools In The World For 2022

RankBusiness SchoolCityCountryScoreRating
1London Business SchoolLondonUnited Kingdom99.81AAA
2MIT Sloan School of ManagementCambridge, MAUnited States98.38AAA
3Wharton SchoolPhiladelphiaUnited States95.95AAA
4Harvard Business SchoolBoston, MAUnited States95.56AAA
5Said Business SchoolOxfordUnited Kingdom95.3AAA
6Columbia Business SchoolNew YorkUnited States95.19AAA
7Stanford Graduate School of BusinessStanford, CAUnited States94.98AAA
8INSEAD Business SchoolFontainebleauFrance94.73AAA
9Haas School of BusinessBerkeley, CAUnited States94.71AAA
10Yale School of ManagementNew Haven, CTUnited States94.54AAA

There are many different types of universities that offer Master programs in Business Management. Each type has its own advantages and disadvantages, depending on what your goals are.

Public state colleges and universities are funded by the states they are located in. These colleges and universities usually have lower tuition costs than private non-profit or for-profit universities, but they also tend to have large class sizes with few graduate students. These large class sizes mean you may not receive as much individual attention from professors as you would at a private college or university.

Top-notch business schools are facing a lot of competition from undergraduate business education, and it’s causing some of them to seriously reconsider the value they provide.

More and more companies, particularly in the financial sector, have come to prefer undergrads because they are just as well prepared to make an immediate contribution at work and they are a lot cheaper to hire than MBA grads.

Furthermore, the quality of undergraduate business education is on the rise, with more students applying for business programs and more universities offering them. Harvard’s undergrad concentration in economics has grown by 15 percent since 2011.