Ross ranked in top 5 business schools. Why is it so successful?

The University of Michigan Ross School of Business earned the 5th spot out of nearly 100 schools in Poet&Quant’s 2024 best undergraduate business schools released in January. Ross improved by three spots overall since last year’s ranking of 8th, while ranking 4th for academic experience and 3rd for career outcomes, marking the school’s continued growth. 

In a press release, Cathy Shakespeare, Thomas C. Jones associate dean for undergraduate education and accounting professor, said the Business School’s success is attributed to the faculty and staff that provide a solid educational foundation for students. 

“We are pleased to be recognized as one of the top 5 global business schools for undergraduates,” Shakespeare said. “This achievement is a testament to the ongoing commitment of our faculty and staff to provide students with an exceptional educational experience that prepares them to lead an ever-changing business landscape.” 

Poets&Quants’ rankings use a method that considers three key factors: academic and co-curricular experiences, the rigor of admissions standards and the success of career outcomes. The 2024 rankings are based on three years worth of data gathered from alumni surveys and surveys completed by students at each respective school. 

Alongside its high rankings compared to other undergraduate business schools, the University boasts the most CEO graduates among public universities. Among public business schools, the Business School also ranks first for producing the most CEOs on the Fortune 1000 list, which ranks the largest companies in the U.S. by revenue. 

Unlike many public business schools, the Business School only allows undergraduates to obtain a general Bachelor of Business Administration degree, leaving students without the ability to major in a specific area within the business field. Collegiate counterparts to Ross, such as the University of Texas at Austin McCombs School of Business and Indiana University Kelley School of Business, offer specific majors within their schools, such as marketing and finance. 

In an interview with The Michigan Daily, Business sophomore Eva Kumer said the general business education at Ross is helpful because it allows students to explore all areas of business without having to commit to one aspect. 

“I’m so glad that we don’t do specific majors,” Kumer said. “I feel that it pigeonholes you in doing one thing for your entire life based on what you decide when you’re a freshman or a sophomore. With the BBA program at Michigan, I don’t feel like my major is going to hold me back.” 

The University also allows BBA and MBA candidates to explore beyond the realm of business with dual-degree programs. Undergraduate business students at the University can supplement their education with majors such as data science and minors like public policy to grow their abilities as competent business leaders. Master’s students are able to pursue a joint degree, such as the U-M MBA and J.D. program.

Accounting professor Lindsey Gallo, Ross MBA and BBA alum, told The Daily she attributed the success of Business students to dual-degree programs and major and minor offerings.

“The ability to do a major, take classes outside of Ross or do something like studying abroad makes you a more well-rounded student,” Gallo said. “We can graduate students with lots of different and unique perspectives because they’ve augmented their business education with all kinds of other experiences … which is going to help them approach problems differently, which is something a great CEO is able to do.” 

In an interview with Fortune, Business School Dean Sharon Matusik said an interdisciplinary approach to business produces strong leaders who can work with a diverse group of people in professional settings. 

“In terms of our people being able to make an impact through their career, a big piece of that is: can you work with people from across different kinds of areas who bring different kinds of knowledge and ideas to the table?” Matusik said. “That orientation towards making an impact and being able to work across different areas of excellence is a really central part of what we do here.” 

Public universities can offer students who qualify for in-state tuition a chance to advance their careers even if they may not have the ability to pay for a private or out-of-state college education. More diverse sets of students are admitted to public universities due to their accessibility, which Matusik attributed to the success of U-M alumni in large corporations. Matusik said the University and the Business School expand accessibility for students to pursue BBA and MBA programs as part of its mission as a public university. 

“The ability to offer a financially accessible pathway to business education is something that’s more part of our mission as a public institution,” Matusik said. “So it’s a different kind of dynamic than you might get at a private school.” 

Matusik also said the Business School aims to propel its students’ success further by developing them in professional and personal environments. 

“We want to create people who are leading the Fortune 1000 companies into the future,” Matusik said. “It’s not so much about the first job when they finish their MBA, but about preparing them for long-term success, both professionally as well as personally.” 

Summer News Editor Andrew Baum can be reached at asbaum@umich.edu. 

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