A degree in Business Administration from one of the best business schools in the world does make it easier for you to land a job at your dream company. However, it may appear difficult to decide which business school to enroll in for pursuing undergraduate studies.
Best Undergraduate Business Schools in 2023
If you are confused about your choice of business school, take a look at our list of top 5 undergraduate business schools in the world in 2023.
Before I reveal the list, you must know that most of the business schools offer graduate programs only. It means you can pursue a master’s degree there. If you are looking for big names like the Harvard Business School or the London Business School in this list, you may be disappointed as they do not offer undergraduate programs.
Massachusetts Institute of Technology (MIT)
Located in Cambridge, Massachusetts, MIT is one of the most prestigious universities in the world. It is a privately endowed university organized into five schools. The Sloan School of Management, also known as MIT Sloan, is one of those five schools.
MIT Sloan offers business courses on a variety of topics, including
- Operations research
- Information Technology
- Product Development
This business school has an acceptance rate of 8%, and its graduation rate is 94%. The student-faculty ratio at MIT Sloan is 3:1. More than 70% of its classes have fewer than 20 students. While 92% of the students live in college-owned, college-operated, or college-affiliated housing, the rest 8% of the students live off-campus.
The school has the accreditation of the New England Commission of Higher Education (NECHE). You will have to spend around $111,827 annually for tuition and additional fees at MIT Sloan.
Many people rank Stanford University higher than MIT Sloan, and there are enough reasons to do so. Located at the heart of Northern California’s Silicon Valley, Stanford University has produced great achievers over the years. It is, in fact, nicknamed the “billionaire factory”. It has been constantly ranked among the top three universities in the world.
Stanford is a private research university with one of the largest university campuses in the US. It receives thousands of applications from students across the globe as one of the best schools for undergraduate business courses. However, the acceptance rate of undergraduate business programs is only 4%.
The university offers business courses on areas such as:
- Economic Analysis
- Human Resource Management
- Operations Information and Technology
- Organizational Behavior
- Political Economics
The graduation rate of the institution is 95%, and the student-faculty ratio is 12:1. The courses have the accreditation of the Commission for Senior Colleges and Universities of the Western Association of Schools and Colleges (WASC).
You will need around $71,587 per year to attend an undergraduate course at Stanford University.
The University of Oxford
For years, the University of Oxford has remained one of the top academic institutes in the world. You cannot leave the name of this prestigious university when it comes to the best undergraduate business programs.
Oxford offers its undergrad business course through Saïd Business School (SBS). Even though SBS draws on the resources of the University of Oxford, it has its own faculty. However, Oxford Saïd offers only one undergraduate program, i.e., the Bachelor of Arts in Economics and Management. And it is taught jointly by the B-school and the Department of Economics at the university.
The reason why universities like Oxford is so popular is the extraordinary experience that it offers to the students. It has several welcoming and supportive communities for you to choose from. Moreover, you can choose from over 400 clubs and societies (drama, chess, rowing, etc.) to make the best of your years in Oxford.
Located in the city of Oxford in the United Kingdom, the Saïd Business School has an acceptance rate of 17.5%, with a student-faculty ratio of 17:1. And, it has the accreditation of the Privy Council.
The program fee at the Saïd Business School is £6,800, which includes tuition fees, education materials, coffee breaks, and most meals. There is also an optional accommodation cost of £800. However, you will require around £91,350 for pursuing MBA courses.
The University of Cambridge
Oxford and Cambridge are two of the oldest universities in the UK, and both continue to retain their positions as the top academic institutions in the world. Like most of the universities in the list, the University of Cambridge also offers a collegiate system, where you choose a college rather than the university itself. For business programs, you need to take admission at the Cambridge Judge Business School (CJBS).
While CJBS offers graduate programs such as MBA, Master of Accounting, Master of Finance, Masters in Entrepreneurship, and more, it has only one undergraduate program, i.e., Management Studies Tripos. Unlike a regular undergrad business program, the Management Studies Tripos is available to all second and third-year undergraduate students as a third or fourth year of their bachelor’s degree. The number of seats on the program, however, is very limited.
Overall, the University of Cambridge has an acceptance rate of 21%, and the graduation rate is 83%. The student-faculty ratio at Cambridge University is also quite impressive – 4:9. It has the accreditation of the New England Commission of Higher Education (NECHE).
The tuition fee at the Cambridge Judge Business School is around £34,602.
The University of California, Berkeley
The University of California, Berkeley is a public institution that ranks 28 at the QS Global World Ranking. It was established in the 19th century and has the campus spreads through a lush of 1,232 acres. It has a total undergraduate enrollment of 30,853, which is done in 6 different colleges under the University of California, Berkeley. The business programs are offered through the Haas School of Business.
There are quite a few degree program options available at the Berkeley Haas School of Business. The major ones are:
- BS in Business Administration
- Management, Entrepreneurship, and Technology Program
- Global Management Program
- Biology+Business Program
The business school also offers a Summer Program for Non-business majors. It is called the BASE (Business for Arts, Sciences, and Engineering) Summer Program, where the non-business, undergraduate students in arts, sciences, and engineering can learn about the fundamentals of business.
Haas Business School’s undergraduate programs are highly competitive. The acceptance rate at UC Berkeley is 17%. Also, the student-faculty ratio at this university is 18:1. It has the accreditation of the Western Association of Schools and Colleges (WASC).
The average cost of attendance at the B-school is around $43,000. However, you will need a lot more than that if you are attending the school from a different country.
If you were looking for graduate programs (MBA courses), you could see most of these names in the top 10 list. If you wish to pursue an MBA once the undergraduate program is complete, you won’t have to look for new universities.