Rutgers Business School in Newark, N.J., is the quintessential urban university. Located in downtown Newark, the school works closely with its diverse community, from corporations with a large presence in the city to small businesses and social enterprises.
And the wildly diverse and scrappy population of business school undergrads here are a reflection of that. Of the incoming fall class in 2017, for example, 41% identified as under-represented minorities. “Students are book smart and street smart and hungry for opportunities,” says Robert Kurland, associate dean for the school’s Newark campus. “They are hungry to get a chance to meet someone. Unlike other business schools where students might claw and fight to be first, our students are known to support each other so they can all be successful.”
The business school is housed in a 12-story office building with a market ticker on the first floor. Next door is the Newark Public Library. Students praise the intimacy of the program, the small class sizes, the accessible faculty, and the ability to connect with visiting corporate types from Prudential, the Big Four accounting firms, Johnson & Johnson and other companies. Student gripes center around the lack of study space and breakout rooms or parking.
Rutgers University, of course, is the state university of New Jersey. The business school actually has two separate campuses and four-year business programs, Newark and New Brunswick where the main campus is based. The Newark campus boasts a full-time enrollment of 2,303 students, about two-thirds the size of the 3,786 business majors in New Brunswick. At Newark, slightly more than half the student body is composed of transfer students, most from the state’s community college system.
“If students are looking for a traditional four-year college experience with football and a dorm living, that’s New Brunswick. If you want to be in an urban environment, Newark is your choice. We circle the wagons and quickly problem solve. We work very closely with the community and are highly involved with the corporations and smaller businesses here.”
Whether Newark or New Brunswick, Rutgers Business School is especially a bargain for residents. In-state four-year tuition is pegged at $50,422, less than half the out-of-state rate of $106,997. And that’s one reason why many New Jersey high school students find great value in the school’s business programs. Some 57% of students receive need- or merit-based scholarships. Still, 49% of the school’s graduates leave campus with an average student debt of $27,881.
At Rutgers, business majors include Accounting, Finance, Management, Management Science and Information Systems, Marketing, and Supply Chain Management. The school also has added an Accounting Honors program as well as concentrations in Business of Fashion, Real Estate, Sales, Global Business, and Leadership for business majors. Non-business majors can minor in Business of Fashion, Real Estate, or Marketing. The school’s Supply Chain program now requires one experiential learning course that can be satisfied through a co-op program, an internship or the department’s Client Industry Project. Given the school’s proximity to New York, just 30 minutes away, there is a heavy emphasis on finance. The school, in fact, has split its finance major into two tracks: financial planning for those who want to become certified financial planners, and financial management for more traditional finance majors.
In 2017, the school says that 75% of its graduates seeking employment had jobs within 90 days of graduation, with an average salary of $58,098.
Many companies recruit Newark for both the diverse mix of students and their hard working nature. “We have been the most diverse university in the nation since 1997,” says Kurland. “Our student population reflects that, whether it is in the classroom, in the lounge or in student clubs and activities. It’s about the experiences they bring to the place and the conversations they bring to the classroom. It leads to an incredible experience not just for one population of students but for all of them. Students choose the business school because they want to get an education at a place that mirrors the real world.”
Top Employers for the Class of 2017:
JPMorgan Chase: 22
Ernst & Young: 11
Price Waterhouse Cooper: 9
Cohn Reznick: 7
Johnson & Johnson: 7
Bank of America: 5