10 Undergrad Business Schools To Watch In 2024

William & Mary Raymond A. Mason School of Business

William & Mary’s Raymond A. Mason School of Business is a B-school on the rise, at least when it comes to P&Q’s ranking of the best undergraduate business school programs.

And it’s a sharp rise at that.

Mason climbed 20 spots to No. 48 in our 2024 ranking, the highest of all 91 schools we evaluated. That’s on top of the 17 spots it rose in 2023, climbing to No. 68 from No. 85.

In 2024, the Virginia-based business school scored its highest in Admission Standards, ranking 15th in the category which was up seven spots from last year. That includes an acceptance rate of 24.7% (the 25th most selective school in the ranking), dropping 14 points from its 38.8% acceptance rate the school reported last year.

Dean Todd Mooradian tells us the school is investing in both academic programs and dedicated centers of excellence to ensure “students have the opportunity to explore their passions, develop valuable skills, and make meaningful contributions to their fields and communities.”

The school recently launched two new minors – one in global business and one in business administration – to offer more pathways for students to tailor their degrees. And programs like Tribe Innovation, the William & Mary Makerspace, Miller Entrepreneurship Center, Boehly Center for Excellence in Finance, and the Ukrop Studio for Innovation & Design give students hands-on experience in a variety of fields.

“The dedication and expertise of the faculty members in delivering high-quality education, experiential learning opportunities, and mentorship to students is unmatched and a tangible differentiator for our school,” Mooradian says.

P&Q INTERVIEW WITH TODD MOORADIAN

We reached out to Mooradian to learn more about what’s happening at the Mason School. Our Q&A is posted below.

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

Investments in academic programs and dedicated centers of excellence are central to the Mason School of Business’ commitment to providing students with a transformative educational experience that prepares them for success in the modern workforce. Currently, students may elect to deepen their expertise through applied learning via our centers of excellence, Tribe Innovation, the William & Mary Makerspace, Miller Entrepreneurship Center, Boehly Center for Excellence in Finance, and the Ukrop Studio for Innovation & Design. Through expanded academic offerings and robust support structures, students have the opportunity to explore their passions, develop valuable skills, and make meaningful contributions to their fields and communities.

Recently, we have launched a Global Business Minor and a Business Administration Minor, two exciting programs that will provide students with additional pathways to tailor their education to their career aspirations. These minors will equip students with the knowledge and skills necessary to navigate the complexities of the global marketplace and excel in various business roles. By broadening the academic offerings of our school, we aim to ensure that students at the Mason School of Business have diverse opportunities to explore their interests and prepare for the ever-evolving business landscape.

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

We’re proud to say, once again, that the Mason School of Business was recognized by Bloomberg Businessweek as the number one institution for learning. For us, this underscores our commitment to academic excellence and student success and reinforces our university’s reputation as a leader in providing an exceptional learning experience. The latest rankings from US News and World Report put William & Mary number six for undergraduate teaching and The Princeton Review’s most recent rankings recognized our business school faculty as among the top five in the nation.

These are wonderful accolades for our community, but more importantly for us, these acknowledgments are representative of the impact of our teacher-scholar-practicioner model. The dedication and expertise of the faculty members in delivering high-quality education, experiental learning opportunities, and mentorship to students is unmatched and a tangible differentiator for our school. As we look forward to developments in 2024, our most important focus continues to be an institutional dedication to providing a top-tier education, fostering global perspectives, and supporting student success, all while maintaining a strong sense of community and inclusivity.

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

Our program offers a unique “block” experience where all newly admitted students start as a cohort, engaging in a foundational set of courses together. The block experience exposes students to a diverse range of business disciplines, ensuring they develop a well-rounded understanding of core concepts and methodologies. Students are strategically assigned to teams comprising individuals from different majors including Accounting, Business Analytics, Finance, and Marketing. This interdisciplinary approach fosters collaboration, diversity of thought, and holistic problem-solving skills. This breadth of knowledge equips students with a holistic perspective, enabling them to tackle complex business challenges from multiple angles.

Each team is also paired with an Executive Partner, providing invaluable guidance on team dynamics, course deliverables evaluation, and presentation skills refinement. Executive Partners are retired industry professionals who actively engage with students to provide mentorship, guidance, and real-world insights. These Executive Partners play a pivotal role in bridging the gap between academia and industry, offering students invaluable connections, internships, and career opportunities. By interacting with professionals who have excelled in their fields, students gain a deeper understanding of industry trends, challenges, and best practices. The personalized mentorship provided by Executive Partners ensures that students receive tailored guidance and support throughout their academic journey. This individualized attention helps students identify their unique strengths, interests, and career goals, empowering them to make informed decisions and pursue opportunities aligned with their aspirations.

What separates your graduates from other business school graduates?

The Mason School of Business places a strong emphasis on integrating liberal arts education into the business curriculum. So in addition to core business courses, our students engage with a diverse array of subjects including humanities, social sciences, and natural sciences. Our undergraduate business program also offers an Individual Plan of Study, allowing students to customize their education based on their unique strengths, interests, and career aspirations. This interdisciplinary approach enables students to integrate various fields of study into their coursework. Statistics show that a significant portion of our graduates take advantage of this flexibility – 70% of the 2023 graduates completed both a major and a concentration within the business school, allowing them to delve deep into specific business disciplines while still exploring a broad range of topics.

Our graduates are known for their well-roundedness and engagement beyond the classroom. They have the opportunity to participate in athletics, clubs, activities, and community service while pursuing their academic studies. The flexibility of the curriculum allows students to “do it all,” whether it’s excelling in sports, leading student organizations, or pursuing double majors or minors in Arts & Sciences. For example, 31% of the graduating class of 2023 completed a major in the business school and a minor in Arts & Sciences, while 17% pursued a double major in both business and Arts & Sciences. Our graduates distinguish themselves through their interdisciplinary education, creative thinking, and holistic engagement. They are prepared to tackle complex challenges, adapt to diverse environments, and make meaningful contributions to the business world and society at large.

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

The Raymond A. Mason School of Business is supported by the Office of Career Development & Professional Engagement, whose mission is to equip students and alumni to be lifelong learners prepared to navigate rapid change and thrive from their first job to their last. William & Mary students are given opportunities to test their knowledge through hands-on application – via internships, externships, student clubs and organizations, study abroad, university-sponsored centers and programming such as the Boehly Center for Excellence in Finance, annual treks to NYC, DC and Charlotte, the Women’s Stock Pitch competition and From DoG Street to Wall Street conference and case preparation workshop series.

William & Mary’s 111,000 strong alumni support students through career connections, speaking engagements and offering experiential learning opportunities. William & Mary’s strategic plan, Vision 2026, set the stage to guarantee a funded internship for every undergraduate and the launch of William & Mary’s One Network platform has created opportunities for further connection between students and alumni. Three dedicated career advisors support William & Mary undergraduate business students, resulting in a 140:1 ratio of students to professional career services staff members as compared to the national average of 1225:1 (NACE*).

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

There are several key themes we consistently hear our alumni speak about as defining experiences. Our alumni often fondly remember the strong sense of community and belonging fostered within our program and William & Mary at large. Despite the BBA program being a two-year program, we prioritize building relationships with freshmen and sophomores through special events, club participation, and various organizations.

The Senior Capstone in Global Strategic Management is often remembered as a pinnacle experience for alumni. This hands-on project allows students to apply their accumulated knowledge and skills to real-world business challenges. Working in teams, students develop comprehensive strategic plans for companies, gaining valuable insights into strategic decision-making, problem-solving, and cross-cultural management. Many alumni will also highlight their participation in the Student Managed Investment Fund as a standout experience. This opportunity allows students to gain practical experience in investment analysis, portfolio management, and financial decision-making. Managing real money under faculty guidance not only provides valuable insights into the financial markets but also instills confidence and leadership skills in students.

William & Mary has a longstanding tradition of philanthropy, and alumni take pride in the university’s consistent #1 ranking in giving. Whether through donations, volunteerism, or mentorship, graduates appreciate the culture of generosity instilled during their time at the university. Overall, our alumni remember the deep connections formed, the emphasis on teamwork and leadership, and the hands-on experiences that prepare them for successful careers in business and beyond.

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

I touched on it earlier, but one of the most underrated features of our undergraduate business program is the infusion of liberal arts into the curriculum. The classical understanding of a “liberal arts” education was as the essential skills (the “ars” or arts) of a free person (“liberalis”) in order to be an engaged citizen in a democratic society. William and Mary’s Mason School of Business, grounded in one of the world’s great liberal arts universities, integrates a liberal arts education, with its breadth of diverse problem-solving paradigms, with the depth of skills in business and leadership to enable our graduates to obtain and excel in great first jobs that lead to impactful careers, to be engaged citizens, and to live lives of principled achievement. During the first two years, students engage in a common core curriculum that includes selections in academic disciplines such as Arts, Letters, and Values; Cultures, Societies, and the Individual; and the Natural World and Quantitative Reasoning. This approach challenges students to learn broadly and deeply across various disciplines before having to make a decision on a major. Exposure to diverse fields of study enhances students’ ability to think creatively, make connections between different subjects, and understand the broader societal context in which businesses operate. By incorporating elements of the liberal arts, our program emphasizes critical thinking, communication skills, and interdisciplinary perspectives. This holistic approach not only cultivates well-rounded individuals but also equips business majors with a unique perspective that sets them apart in the professional world.

Another underrated aspect of our undergraduate business program is the small class sizes and the quality of our faculty. With the largest class size in the business school capped at 60 students, our program prioritizes personalized education and meaningful interaction between students and faculty. The small class sizes allow for individualized attention, mentorship, and opportunities for students to actively participate in discussions, projects, and research initiatives. This close interaction with faculty members enhances students’ learning experiences, encourages collaboration, and fosters a supportive academic community. By combining the best aspects of liberal arts education with specialized business training, our program equips business majors with the skills, knowledge, and mindset needed to thrive in a dynamic and competitive global marketplace.

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

Top employers of talented William & Mary business students include Accenture Federal Services, Bank of America, Booz Allen Hamilton, Capital One, CGI, Deloitte, EY, Goldman Sachs, Grant Thornton, IBM, JPMorgan Chase & Co, KPMG, MUFG, PwC and William & Mary. Companies share they seek William & Mary students and alumni because they are quick to learn and think critically about a problem, desire to take initiative and fill leadership roles, are creative and proactive, have strong communication skills and work well in groups. Our students bring their full complement of skills to the table, and that total package is of high value to employers.

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

Our program places a strong emphasis on principled leadership, preparing students not only to excel in their careers but also to make ethical and socially responsible decisions. We strive to instill values of integrity, accountability, and compassion, ensuring that graduates become ethical leaders who positively impact their organizations and communities.

We believe in fostering a vibrant and inclusive community, and as such, we review applicants holistically, valuing breadth of experience and diverse perspectives. This approach enriches our learning environment and ensures that every student brings unique contributions to the classroom.

Our program maintains a rigorous academic curriculum designed to challenge and inspire students.  We uphold high standards of excellence in teaching, research, and professional development, empowering students to achieve their full potential and excel in their chosen fields. We also leverage established advisory boards across various disciplines including Foundation, Accounting, Business Analytics, Boehly, and Consulting. These boards comprise industry experts and professionals who provide valuable insights, guidance, and mentorship to ensure that our curriculum remains relevant and aligned with industry needs.

Our overarching strategy is to provide the most personal learning experience of any public university. We prioritize individualized attention, small class sizes, and mentorship opportunities to ensure that every student receives the support and guidance they need to thrive academically and professionally. We are dedicated to expanding our reach and making a meaningful impact in the world. Through initiatives such as expanding our global partnerships, increasing diversity and inclusion efforts, and fostering innovation and entrepreneurship, we aim to prepare graduates who are equipped to address global challenges and drive positive change.

We are committed to continuous improvement and evolution, always striving to excel in everything we do. By embracing innovation, adapting to changing needs, and staying at the forefront of business education, we ensure that our program remains relevant, dynamic, and impactful in an ever-changing world.

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