10 Undergrad Business Schools To Watch In 2024

University of North Carolina at Chapel Hill Kenan-Flagler Business School

When it comes to return on investment for a topped ranked business school, business school prospects from North Carolina have a distinct advantage.

Not only is the UNC Kenan-Flagler Business School at top-10 undergraduate business program, finishing No. 8 in our 2024 ranking, it also has the highest ROI for in-state students of any of the 91 schools on our latest list.

On a dollar-for-dollar basis, 2023 Kenan-Flagler graduates who paid in-state tuition can expect to earn, on average, about $$339,002 more than they paid for the degree, according to our ROI analysis.

North Carolina students can expect to pay about $93,216 for their degree if they graduate within four years, but have no scholarship or other financial aid. Class of 2023 graduates reported an average salary of $86,444, or an average income of $432,218 over five years, not taking into account any raises or bonuses. That means UNC Kenan-Flagler in-state grads are bringing in $339,002 more than the cost of the degree after five years on the job. That’s an ROI of 363.67%.

P&Q INTERVIEW WITH SHIMUL MELWANI AND JORDAN HALE

We reached out to Shimul Melwani and Jordan Hale to explain the full value of the Kenan-Flagler business degree. Beyond the stellar ROI, Kenan-Flagler delivers an innovate B-school experience that is constantly innovating. It launched a new curriculum revision this semester, and created a series of short courses and special seminars on emerging business topics to keep their program nimble. Topics range from generative AI, to practical Python sills, to data-driven decision making.

It is also launching a new minor on the Business of Health this fall with courses at in four other schools and colleges at UNC.

Melwani is associate dean of the undergraduate business program and associate professor of organizational behavior. Hale is assistant dean. Our Q&A is presented below.

What are recent and upcoming program developments and innovations that will enhance the experience of future students?

At UNC Kenan-Flagler, we are excited to highlight three very different innovations that are in line with our key goal of providing students with transformative experiences.

First, as we launch an innovative curricular revision this semester, we start with an intensive two-semester “Introduction to Business” Experience.

Launching with our groundbreaking course, “People, Profit, Planet, and Purpose,” we immerse our students in the multifaceted world of business from day one. The course is crafted to lay a foundation in the interplay between business and society, emphasizing critical trade-offs in business decision-making. Through a rich curriculum that includes business history, philosophy, contemporary articles and a semester-long, hands-on simulation, students are equipped to navigate the complexities of the business world with depth and understanding. As we build out this experience, the second semester will engage students in a leadership course that uses a “upside down, backwards and high touch” experience. This course will prioritize experiential leadership learning, systems and design thinking, and individual and peer reflection, encouraging them to be proactive in their growth and effective in their communication and teamwork skills.

In addition, we are getting ready to move into a new building designed with the student experience at the core. Set to open in fall 2025, Steven D. Bell Hall symbolizes our commitment to student-centered learning and innovation. This state-of-the-art facility makes it possible to expand our Undergraduate Business Program to serve more students and its cutting-edge classrooms are designed to foster dynamic faculty-student interactions. With spaces dedicated to team-based learning and hosting academic challenges, Bell Hall is poised to become a hub of collaborative excellence and intellectual exchange for UNC students and visiting scholars alike.

Last, to keep our curriculum nimble, we will offer short courses and colloquia on emerging business topics. These recognize the importance of a curriculum that responds to the evolving needs of students and prepares them for future challenges and opportunities. Starting in fall 2024, they will cover a variety of critical and emerging topics. From the intricacies of generative AI and practical Python skills to insights into business analytics, data-driven decision-making and digital project management, they are tailored to equip our students with the knowledge and tools essential for success in the modern business landscape.

These initiatives represent our ongoing commitment to providing a transformative educational experience that prepares our students not just for their careers but for leadership roles in an ever-changing society.

Any other notable news coming for 2024 that readers should know?

We are launching a new minor on the Business of Health in fall 2024. It will provide a grounding for undergraduate students across UNC interested in careers at the intersection of business and healthcare. It is defined by its interdisciplinary lens as students will take courses at the Business School as well as the Gillings School of Global Public Health, Hussman School of Journalism and Media, the Department of Philosophy in the College of Arts and Sciences, and the Carolina Health Informatics Program (CHIP). As a part of the minor, students will complete a capstone course focused on current and on-going transformation in U.S. healthcare.

We are particularly excited about this minor as a plurality of UNC-Chapel Hill’s undergraduate students pursue careers in healthcare and health-related industries. Healthcare, a sector that accounts for approximately 20% of the U.S. GDP, is central to our nation’s economy. North Carolina, with its vast healthcare economy, is continually in search of well-trained talent, making this minor timely and relevant. We are uniquely positioned to offer this minor thanks to our Center for the Business of Health’s deep engagement with UNC’s leading health sciences divisions; schools of social work information and library science, and law; and College of Arts & Sciences departments.

In March 2024, we launched our new tri-continental exchange program, TRicontinental Exchange in Business and Leadership Education (TREBLE). TREBLE begins an exciting new collaboration for UNC with Singapore Management University’s Lee Kong Chian School of Business (LKCSB) and Copenhagen Business School (CBS) to offer an 18-month immersive cross-cultural business educational experience. Every year, 15 undergraduates from each of the three institutions will spend one-and-a-half years (three academic terms) rotating between three campuses. The 45 TREBLE students will build camaraderie as learn together as a cohort and take a set of specially curated courses at the three partner universities. Courses will be thematically focused on leadership of people, organizations and markets. The inaugural TREBLE cohort will begin their exchange at UNC Kenan-Flagler in August 2025.

What are your program’s two biggest differentiators from other top undergraduate business programs? How do these prepare students for their careers?

Our two major differentiators include a balance between global opportunities and a connection to the state of North Carolina, and our commitment to student wellness.

As the nation’s oldest public university, we take pride in our connections to the state of North Carolina through enhancing access to students from almost 50 counties across the state and low tuition costs that enable UNC Kenan-Flagler to provide the highest return on investment for our students. We combine this local focus with a deep focus on building a global mindset. By providing myriad study abroad opportunities, almost 75% of our students have globally relevant experiences. Together, we believe that a balanced commitment to local community with a global perspective prepares our students to be more effective, empathetic, and innovative leaders and make a positive impact in our complex, interconnected world.

Second, student wellness is a cornerstone of our program culture. Central to our initiative is the principle of resilience – empowering students to navigate challenges with grace and adaptability. Our commitment is exemplified by two dedicated full-time wellness coaches as part of the Undergraduate Business Program team, a pioneering move aimed at creating a nurturing and healthy community within the business school. The wellness coaches are instrumental in offering personalized coaching sessions based on individual needs and fostering an environment where students feel supported in every aspect of their well-being.

Their comprehensive approach to wellness extends beyond individual counseling to also include a variety of wellness events, strategic programs and preventative interventions. These initiatives are carefully crafted to support students so they thrive across all dimensions of wellness and ensure they have the tools and resources to maintain mental, physical, emotional and social health. By prioritizing such a holistic understanding of wellness, the program aids in building resilience and cultivating a mindset geared towards lifelong learning and adaptability at work.

What separates your graduates from other business school graduates?

A major differentiator is the “Humility Quotient.” The Undergraduate Business Program (UBP) at UNC Kenan-Flagler is guided by six fundamental principles that shape our approach and decision-making as we engage with our students. Among these core principles, “Be Humble” stands out as a distinctive trait that distinguishes our students in the workforce. Feedback from employers highlights that the humility our students exhibit during internships and their post-graduation roles significantly differentiates them from their counterparts.

This humility, however, is not about being reserved or hesitant to assume leadership positions. Instead, it reflects UNC Kenan-Flagler graduates’ profound recognition of the importance of ongoing learning. Demonstrating humility means they are open to feedback, adaptable in integrating new strategies based on this feedback, and dedicated to achieving excellence in their work through continuous improvement and learning. This mindset accelerates their personal growth and contributes positively to their professional environments.

Second, we pride ourselves on our program developing students with a “Business and….” mindset. Our students begin their time in college with a robust grounding in the liberal arts, taking close to 45% of their courses outside the business school. Almost 50% of our students earn dual degrees and most graduate with a minor outside the business school, from studio art to quantitative physics. UNC’s new undergraduate curriculum, IDEAS in Action provides a dizzying array of opportunities for them to delve into nine focus capacities, some of which include quantitative reasoning, scientific investigation, creative expression, and ethical and civic values. A particularly fascinating course format includes courses that bring together three outstanding professors from different fields to examine common themes from multiple perspectives. This multifaceted business and liberal arts curriculum prepares students to approach the world with inquiry, investigation and creativity.

Explain the career services, programming, and extracurriculars that give your students an advantage in career outcomes?

Our Career Services and Employer Relations team stand out for their personalized and strategic approach to career development and networking. We prioritize hands-on career advising, maintaining a strong advisor-to-student ratio even as our program grows, ensuring each student receives tailored support for internships and full-time opportunities. We offer a number of Career Treks, co-planned with student clubs, for them to explore various industries – from marketing and finance to sustainability and technology – across North Carolina, the East Coast, Atlanta and California. We’re expand these treks to match evolving student interests and market demands. Our deep connections with our alumni facilitate valuable networking, mentoring and career transition support, highlighted by our “Living In…” series that connects seniors with young alumni in the cities where they have been hired, and support for alumni as they manage career transitions.

We also have an array of global programs which vary in length and focus. From offering Global Immersion Electives (GIEs) across the world to summer international internships, where students work abroad, students delve into diverse cultural landscapes and grapple with real-world business challenges. Students also may engage in more traditional study abroad programs across 19 different countries. Students emerge with enhanced adaptability and agility, attributes that vital for career success and highly valued by employers. The cultural intelligence cultivated in our students by these programs signal to employers a readiness to contribute meaningfully in boundary-crossing careers.

We are also committed to fostering an inclusive environment through identity-focused programming and support. In partnership with our student-run Community, Equity, and Inclusion (CEI) Board, we’ve made significant strides in ensuring that a wide array of student perspectives, particularly those from marginalized identities, are integral to our programming. A standout initiative from the CEI Board is the launch of the “Affinity Group” program. It offers tailored resources and events that cater to the unique needs and interests of various student groups, including first-gen, LGBTQIA+, Black students and more. These groups are actively involved in our orientation and throughout the year, providing valuable networking and support that directly translate to the professional world.

When alumni look back on their time in your undergraduate business program, what would they consider to be their signature experience?

The strength of our program is its flexibility. Students are encouraged to find their passions and forge their paths. As a result, when asked, each alumnus might have a different answer. UNC Kenan-Flagler is committed to experiential education, and students consider many different experiences to shape their experience while they explore the undergraduate business curriculum.

One example of this is STAR (Students Taking Action to Achieve Results), which combines interdisciplinary education when a cross-functional student team partners with businesses to provide real-world solutions to their complex problems. For our undergraduates, working with MBA students, seasoned UNC Kenan-Flagler faculty and businesses for a final presentation on ways these businesses can tackle a present-day problem is a highlight. They develop professional skills, including problem solving and teamwork, that prepare them for career success. In some cases, STAR teams have traveled to company headquarters to present these solutions in front of company senior-level executives.

Our Global Immersion Electives (GIEs) are also signature experiences our alumni describe once leaving UNC Kenan-Flagler. These experiences are faculty-led, staff supported, and student-facilitated experiences that take our students across the globe. Students begin by taking a course dedicated to understanding the aspect of business they are going to explore while in a different country. This deep academic dive into the beginning of the immersion experience is also spent building relationships with peers, faculty and staff who are participating in the GIE. At the conclusion of the course, students travel to another country, often partnering with students at another university to explore the business topic discussed in the course (including social impact, sustainability, entrepreneurship and venture capital). Students often describe these experiences as life changing, particularly for those students who have never had the chance to travel abroad.

For other students, participating in program-wide initiatives that impact all their peers is their seminal undergraduate business experience, the Undergraduate Business Symposium. In fall 2024, Symposium will celebrate its 40th anniversary. What makes this experience distinct is that Symposium is more than a career fair: It is a project-management course organized and executed by 15 undergraduate business students and two career team members. Symposium offers a unique opportunity for students and companies to connect with each other via workshops, networking sessions and tailored interactions.

What is the most underrated feature of your undergraduate business program and how does it enhance the experience for your business majors?

At UNC Kenan-Flagler, our unwavering commitment to delivering unparalleled value in education is evident through our mostly consistent ranking as the #1 ROI for undergraduate business programs – a Poets & Quants distinction we hold with pride. Research shows program fees can prevent some students from pursuing a business education and serve as sticker shock to students from backgrounds where costs significantly dictate opportunities, particularly those with significant financial need. In an era where the conversation around higher education costs and its long-term impact on students intensifies, our ability to maintain accessible tuition rates allows our students to graduate largely debt-free. Our ROI is not only determined by lower costs: We redefine ROI by reimagining the essence of investment in our students. It’s not solely about the financial gains; it’s about cultivating an environment where every student, regardless of their background, can access a high-quality education that sets them on the path to success, which has a generational impact for their families, the state of North Carolina and our alumni network.

Which employers are the biggest consumers of your undergraduate talent and what have they told you about your alumni that makes them so special?

At UNC Kenan-Flagler, our employer relationships are dictated by student interest, employer opportunities, our alumni network and the outreach of our career and employer relations team. We take advantage of these relationships and leverage the complex employee-rich eco-system the state of North Carolina, the Southeast, and the East Coast provides for our students. For these reasons over the past few years our top employers have been Bank of America, Wells Fagro, E&Y and Deloitte.

Employers continue to value the talent of our UBP students. They tell us that our students are talented and technically on par with their peers from other top programs. Employers also note our students are often quicker to advance in their organizations because of their teamwork and communication skills, key focus areas in the UBP curriculum. Employers appreciate how our students are competitive – not with each other, but with themselves. They aim to continually improve, while finding ways to support their peers as they work in cross-functional teams. Employers praise the ability of our students to get work done, to get it done quickly, work well in teams, and the humility with which they approach their first jobs are all differentiators UBP graduates bring to their roles.

What else would you like readers to know about your program?

We’re a warm and fuzzy place! Seriously, we like to define ourselves by the meaningful relationships we build across faculty, staff and students. Our classes have relatively small faculty-student ratios, so faculty members get to know each of their students. Our program facilitates student belonging through weekly community coffee hours, speed-friending events, and open access to student clubs. Our staff takes pride in creating experiences where students learn about themselves as they explore a business curriculum. We are a school that takes pride in providing many firsts: a first global experience; being the first in the family to complete a post-secondary education; being a place where students can have their first difficult conversation about life-altering moral questions and shift their; and being the first place where team-based education enhances their curricular and co-curricular experience. We hope to continue this as we move into a new building with a new curriculum and new innovative program leadership.

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