Kachi Ogbonna

Benefits of an Undergraduate Degree from a Business Schools?

Before we proceed let me explain the benefits of getting a business degree.  In NACE’s Job Outlook 2019 survey, the majority of employers were looking to hire business majors. The interest in finance, accounting, and business administration was particularly high. Also according to the U.S. Bureau of Labor Statistics (BLS), the number of job positions in business and financial operations is growing and will continue to grow over the next decade. So if your child decides to pursue a degree in business, they’re entering a high-demand career field. So I will share with you a few benefits why your child may need to consider any of the best undergraduate business schools for a business degree.

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1. It comes with increase employability

Obtaining a bachelor’s degree in business management prepares you for jobs by equipping you with many management-related skills. Such skills as employees management, communication skills and teamwork spirit are among what companies are looking for when hiring for management positions. So to see these skills in a fresh graduate will automatically make such candidate a hot cake. And guess what? The best undergraduate business schools emphasis these skills.

In addition, while you’re in school, you can determine which area you’d like to specialize in based on your interests and ambitions. Businesses in specialized areas may prefer candidates with specializations who have advanced knowledge in their area of management. For example, if your specialization was in finance management and an employer was hiring for a management position in finance, you might have the skill set they’re looking for rather than another candidate with experience in consultancy management.

2 The market demand is high

Even if it is not for a management position you are still likely to be in high demand. Those with a degree in business administration or a related field are in high demand for a reason. Most employers consider a degree in business administration as a keystone to success.

The reason is that employers believe the skills you acquire in business school is relevant and useful in all fields. So it will be pretty difficult for you to have a degrees in business administration and be stranded.

3. It offers competitive earning potential

Out of the gate, many students who graduate with a BB or BSBA enjoy higher than normal average salaries. According to the Department of Labor and Statistics, the median income for a career related to degrees in business begins at around $60,000 annually. It doesn’t stop there. The report has it that there are chances for increment within just a few years. The same source states that the Employment of business and financial operations occupations is projected to grow 10 percent from 2016 to 2026, faster than the average for all occupations.

What resonates with this increased earning potential?

The world is going through a growing economy, globalization, and complex tax. Professionals are highly required to provide qualitative market research to understand customers and product demand. So if you think you can own this field with your expertise, you can pretty much choose your salary and demand for high figures.

4. Career flexibility

Most people are no longer interested in working full-time. They want a schedule that is flexible enough. And thanks to tech revolution this is pretty possible. Many business-related jobs that used to be performed from the office are now done remotely. So employees are ready to meet their employers need but at their own terms and schedules.  It’s a mutual understanding, and as long as you get the work done, does it matter where you do it from?

And apart from a degree in tech related courses the next discipline that gives one super opportunity for this leverage is a degree in business administration.

And if you have a degree from any of the best undergraduates business schools the following are just few remote job opportunities for you:

• Financial Analyst
• Sales Manager
• Tax Manager
• Actuary
• Management Consultant
• Accounting Manager
• Business Development Manager
• Business Process Analyst

And guess what? For any of these remote jobs all you need is a system and active internet. But I must warn that remote work requires a great deal of discipline. So if you are going for that you must be such that can work with little or no supervision. Yet be able to deliver on deadlines.

5. Job versatility

There is no restriction and no limitation for a graduate with a degree in business administration. A degree in business administration opens door to many career paths for an individual. It will provide them with skills useful for a wide variety of career paths. These can include inter-related fields such as finance, management, insurance, banking, sales and consulting. And if you don’t want to pursue a typical business administration career, then you can move on to more creative paths such as public relations, or marketing or even teaching.

You can equally use your knowledge to conduct market research, develop marketing strategies, liaise with copywriters and designers, or evaluate campaign results. In fact, there is probably no discipline that gives more versatility like business administration and computer science.

6. Networking skills

I always tell my undergraduates mentees that one thing that is probably more important that the university degree they are pursuing is the networking opportunities that they have. In fact, the networking opportunities for university student life are transformative. As a student, you get to meet professors, administrators, and like-minded students. You also meet industry experts who share the experience you are seeking.

In fact, so many people have gotten their first jobs through the networks built as undergraduates.

7. Leadership skills

A business administration degree will equip you with valuable leadership skills that will set you apart from other candidates when it comes to applying for a job after graduation. Not everyone has what it takes to be a leader, but a business administration degree will undoubtedly give you an edge in this path by teaching you networking and leadership skills that should be well-sharpened and put to use when needed.

8. Get an introduction into the business industry

Although employers often look for experience on a resume, a degree in business management can give you the knowledge that could otherwise take years of work experience to gain. A degree provides detailed insights into different industries, and you can learn about topics such as market trends and industry reports. Rather than learning those things on the job, you can learn them in school and be prepared to implement them as soon as you’re hired for your first managerial position.

9. Learn about multiple disciplines

Some students pursuing a business management degree are undecided about which area of specialization they’d like to pursue. During the beginning of your studies, you often learn about the different specialties within management and their overall function in a business setting. With a broader understanding of each discipline, you can decide whether you’d rather focus your studies in one particular area or get a more well-rounded knowledge of each area of management. Some specializations you can learn more about include:

Finance

Human resources

Service operations

Supply chain

Consultancy

Global business

10. Become an entrepreneur

I guess this is perhaps the most powerful of all the benefits as they were. And guess what? Most of those that pass through any of the top 10 best undergraduate business schools ends up on this path. So some persons earn for a degree in business administration with the mind to start their own business from day one.

The knowledge learned during your studies can provide a solid foundation of the elements required to start a business. Some of the best undergraduate business schools offer extracurricular opportunities for students interested in entrepreneurship to meet and discuss their ideas. They also sometimes bring in successful entrepreneurs to speak to interested students to discuss their challenges and successes in a Q&A format. This lesson is invaluable in gives the students an advantage once out of school.

What can you do with a business degree?

Let me emphasis this further for the importance of it. What will a business degree from any of the best undergraduates business schools do for you?

Business careers are available in nearly every industry. Companies in every sector need strong leaders, managers, advertisers, accountants, and financial advisers—just to name a few. That means business graduates can find themselves working almost anywhere. Yes, from prestigious tech firms to government agencies to hospitals and to non-profits.

Business schools teach students valuable skills to be successful in the workplace. And these skills are transferable to many business environments. That’s why business graduates consistently have low unemployment rates.

Of course, one option that draws many students to pursue business is the appeal of entrepreneurship and being their own boss. Business program coursework and training give students the knowledge needed to draw up business plans, manage budgets, hire employees, and run day-to-day operations of their own successful business.

What salary can you earn with a bachelor’s degree in business?

Upon graduating from business school, students can expect to earn higher-than-average starting salaries—with certain business majors earning slightly more than others. Here’s a list of the projected starting salaries in the five most lucrative business majors:

• Management information systems: $63,445

• Logistics/supply chain: $59,180

• Finance: $58,472

• Business administration/management: $58,166

• Accounting: $57,734

As business graduates secure jobs and gain work experience, their salary outlook increases. The average salaries for marketing managers, financial managers, and sales managers all exceed $100,000—with only a bachelor’s degree. Of course, many people in business choose to pursue an MBA to increase their potential for earnings and promotions.

List of the best undergraduate business schools (2022)

So, what schools have the best undergraduate business programs?According to Shemmassian Academic Consulting below are the 10 best undergraduates business school. The list itself is determined by U.S. News & World Report’s 2022 ranking. But it also factors key program characteristics that could easily help one chhose the best undergraduates business schools available.

1. University of Pennsylvania Wharton School of Business

• U.S. News & World Report Rank (Best Business Programs): 1

• Location: Philadelphia, PA

• Private or Public: Private

• Undergraduate acceptance rate: 5.9% (overall); 6% (business school)

• Cost of attendance: $83,298

• Student-faculty ratio: 6:1

• Average hire rate: 97%

• Median starting salary: $86,217

• Degree options: BS in Economics and a choice of concentration, including accounting, business analytics, health care management, real estate, and statistics

• Notable alumni: Rana Yared ‘06 — Partner at Goldman Sachs

• Unique feature: The Wharton School empowers its entrepreneurial-minded students through the Penn Wharton Entrepreneurship program—supporting over 150 startups each year with funding ($600,000 awarded to students) and training (more than 50 entrepreneurial courses offered).

(Suggested reading: How to Get Into UPenn)

2. Massachusetts Institute of Technology Sloan School of Management

• U.S. News & World Report Rank (Best Business Programs): 2

• Location: Cambridge, MA

• Private or Public: Private

• Undergraduate acceptance rate: 4.1% (overall)*

• Cost of attendance: $77,020

• Student-faculty ratio: 3:1

• Average hire rate: 95%

• Average starting salary: $89,710

• Degree options: BS in Management, Business Analytics, or Finance

• Notable alumni: Brian Halligan, ’05 — CEO of HubSpot

• Unique feature: The iDiplomats summer internship program allows students to study innovation and entrepreneurship in an international region of their choice.

*Note: Undergraduates are not admitted directly to Sloan.

(Suggested reading: How to Get Into MIT)

3. University of California–Berkeley Haas School of Business

• U.S. News & World Report Rank (Best Business Programs): 3 (tie)

• Location: Berkeley, CA

• Private or Public: Public

• Undergraduate acceptance rate: 14.5% (overall)*

• Cost of attendance: $41,678 (in-state); $71,432 (out-of-state)

• Student-faculty ratio: 19:1

• Average hire rate: 83%

• Average starting salary: $85,000

• Degree options: BS in Business Administration—with an optional concentration in global management

• Notable alumni: Albert Lee, ’04 — co-founder of MyFitnessPal

• Unique feature: For students with scientific interests, the Haas School of Business offers double bachelor’s degree programs combining business with engineering or biology.

*Note: The majority of Haas students apply having already finished their first or second year at Berkeley. The acceptance rate for Berkeley students applying to Haas is 33%.

(Suggested reading: How to Get into UC Berkeley)

4. University of Michigan–Ann Arbor Ross School of Business

• U.S. News & World Report Rank (Best Business Programs): 4

• Location: Ann Arbor, MI

• Private or Public: Public

• Undergraduate acceptance rate: 19.6% (overall); 11.2% (business school)

• Cost of attendance: $32,272 (in-state); $69,326 (in-state)

• Student-faculty ratio: 14:1

• Average hire rate: 94%

• Median starting salary: $85,000

• Degree options: Bachelor of Business Administration, with specializations available in sales, public policy, and finance

• Notable alumni: Gregg Kaplan ’92 — Founder of Redbox

• Unique feature: Through the REAL Invest opportunity, participants help manage student-run investment funds focusing on social ventures or early-stage companies.

5. New York University Stern School of Business 

• U.S. News & World Report Rank (Best Business Programs): 5 (tie)

• Location: New York City, NY

• Private or Public: Private

• Undergraduate acceptance rate: 12.8% (overall); 7.2% (business school)

• Cost of attendance: $82,522

• Student-faculty ratio: 8:1

• Average hire rate: 98.7%

• Average starting salary: $ 78,747

• Degree options: BS in Business (with a choice of 13 concentrations); BS in Business and Political Economy &BS in Business, Technology and Entrepreneurship. They also have BS in Business/BFA in Film and Television; BS in Business/MS in Accounting

• Notable alumni: Jeff Teper, ’86 — Corporate VP at Microsoft Office

• Unique feature: Every student in the Stern School of Business takes an international business trip to Europe, Asia, or South America where they formulate business strategies with current company executives.

(Suggested reading: How to Get into NYU)

6. University of Texas–Austin McCombs School of Business

• U.S. News & World Report Rank (Best Business Programs): 5 (tie)

• Location: Austin, TX

• Private or Public: Public

• Undergraduate acceptance rate: 31.8% (overall); 15.6% (business school)

• Cost of attendance: $31,612 (in-state); $64,534 (out-of-state)

• Student-faculty ratio: 18:1

• Average hire rate: 86%

• Average starting salary: $70,840

• Degree options: BBA in Accounting, Finance, International Business, Management, Management Information Systems (MIS), Marketing, Science & Technology Management, or Supply Chain Management

• Notable alumni: Mandy Price, ’03 — Co-founder and CEO of Kanarys, Inc.

• Unique feature: The Social Innovation Initiative trains students to create economic value for organizations while promoting corporate sustainability, environmental investment, and social-minded impact.

7. Carnegie Mellon University Tepper School of Business

• U.S. News & World Report Rank (Best Business Programs): 7

• Location: Pittsburgh, PA

• Private or Public: Private

• Undergraduate acceptance rate: 15% (overall); 10.4% (business school)

• Cost of attendance: $77,474

• Student-faculty ratio: 6:1

• Average hire rate: 89%

• Average starting salary: $80,638

• Degree options: BS in Business Administration, with a choice of 11 concentrations—including business technology, global economics, operations management, and leadership & organizational effectiveness

• Notable alumni: Cathy Oh, ’04 — Global Head of Marketing and Analytics at Samsung Ads

• Unique feature: The Tepper School of Business offers an inter-college BS in Computational Finance major for students interested in math and statistics who would enjoy creating mathematical models for use in the finance industry.

8. Cornell University Dyson School of Applied Economics and Management

• U.S. News & World Report Rank (Best Business Programs): 8 (tie)

• Location: Ithaca, NY

• Private or Public: Private

• Undergraduate acceptance rate: 8.7% (overall); 5.4% (business school)

• Cost of attendance: $60,383 (in-state); $80,287 (out-of-state)

• Student-faculty ratio: 9:1

• Average hire rate: 93%

• Average starting salary: $76,966

• Degree options: BS in Applied Economics and Management with a choice of 11 concentrations—including agribusiness management, food industry management, business analytics, strategy, and applied economics & management

• Notable alumni: Dwane Morgan, ’02 — Director of Global Consumer Insights at Under Armour

• Unique feature: Students can earn their BS with a “distinction in research” if they participate in the CALS Honors Research Program—where they complete research side-by-side with a faculty mentor and write a master’s style thesis.

(Suggested reading: How to Get Into Cornell)

9. Indiana University–Bloomington Kelley School of Business

• U.S. News & World Report Rank (Best Business Programs): 8 (tie)

• Location: Bloomington, IN

• Private or Public: Public

• Undergraduate acceptance rate: 80% (overall); 49% (business school)

• Cost of attendance: $27,298 (in-state); $54,318 (out-of-state)

• Student-faculty ratio: 16:1

• Average hire rate: 94%

• Average starting salary: $67,000

• Degree options: 18 bachelor’s degrees available—including economic consulting, information systems, professional sales, public policy analysis, sustainable business, and supply chain management

• Notable alumni: Shannon Watkins, ’02 — Head of Brand and Creative Services at Aflac

• Unique feature: First-year business students can apply to live in the Jellison Living Learning Center, where they receive professional mentoring, attend events with company executives, meet top recruiters, and enjoy specialized evening programs geared toward leadership and global awareness.

10. University of North Carolina–Chapel Hill Kenan-Flager Business School

• U.S. News & World Report Rank (Best Business Programs): 8 (tie)

• Location: Chapel Hill, NC

• Private or Public: Public

• Undergraduate acceptance rate: 23% (overall); 11.4% (business school)

• Cost of attendance: $24,734 (in-state); $52,908 (out-of-state)

• Student-faculty ratio: 15:1

• Average hire rate: 98%

• Average starting salary: $72,357

• Degree options: BS in Business Administration, with optional areas of emphasis available—including consulting, investment banking, multinational finance, operations, and real estate

• Notable alumni: Phaedra Boinodiris, ’08 — Global Lead for Serious Games at IBM

• Unique feature: Every year, students organize the Undergraduate Business Symposium at UNC—one of the largest student-run career development events in the country—where students get the chance to discuss real-world business issues with upper-level executives.

11. University of Virginia McIntire School of Commerce

• U.S. News & World Report Rank (Best Business Programs): 8 (tie)

• Location: Charlottesville, VA

• Private or Public: Public

• Undergraduate acceptance rate: 20.7% (overall); 11.8% (business school)

• Cost of attendance: $34,560 (in-state), $69,090 (out-of-state)

• Student-faculty ratio: 14:1

• Average hire rate: 88%

• Average starting salary: $78,989

• Degree options: BS in Commerce with concentrations in accounting, finance, information technology, management, and marketing

• Notable alumni: Jeff Dunn, ’01 — VP of Business Strategy and Analytics for the Seattle Seahawks

• Unique feature: Beyond their concentration, UV students can further prepare for a specialized career by choosing one of six multi-disciplinary tracks—advertising & digital media, business analytics, entrepreneurship, global commerce, quantitative finance, and real estate.