Top 10 Universities for Business

A degree in business is truly one of the most flexible and widely applicable courses of study you can pursue as an undergraduate. The demand is high for professional and competent Business graduates and the degree puts graduates on a positive track in the competitive job market and toward a successful career in the business world. With a Bachelor of Business program, students will gain a strong foundational understanding of business principles, theory, and practice that will make them appealing to employers. To help you find the right schools and make the most prospective decision, we have shortlisted the top 10 universities for business around the world and what they require for admissions.

Some of the common requirements are:

• For IB students, all colleges require you to take up Math at least at a Higher Level. Ironically, not a lot of people who pursue Business for university take up business management in IB. However, most of them do take Economics. Therefore, if it interests you, you can take up either Business or Economics or both. Additionally, you can take up English at a standard level and the rest of the subject choices can be anything that you find interesting to study.
• Next, all colleges will require you to submit letters of recommendation. However, the number of letters may vary according to the university. But, don’t worry, we’ve got you covered there. Keep reading to know more.
• TOEFL and IELTS are required by the university for students who are non-native speakers of English.

Disclaimer: Some of the universities have not been included in this list as per rank since they provide only business degrees for postgraduates or for Ph.D.s. The universities below provide business degrees for undergraduates.

#1: University of Pennsylvania – The Wharton School

Wharton’s undergraduate degree program offers you business and more — an innovative program that combines business and liberal arts on one Ivy League campus. Students choose specialized areas of study with more than 20 concentrations offered across the 10 different departments. That’s why it comes first on the list of top universities for business. Graduates earn a BS in Economics from the Wharton School.

Here are their requirements:

• Upenn requires a minimum of 37 IB points.
• UPenn requires 2 letters of recommendation from teachers and one from your high school counselor.
• You can waive a certain portion of your Economics credits if you have scored a 6 or a 7 in IB Economics
• UPenn remains to keep the ACT and SAT test optional due to the ongoing challenges created by the Covid 19 pandemic for the 2022-2023 admissions cycle.

Below are the recommended scores for the standardized tests:

Test	Minimum Score	Recommended Score
SAT	1490	1560
ACT	35	36

#2: Massachusetts Institute of Technology – Sloan School of Management

The MIT Sloan undergraduate program provides an academic experience where students learn how to bring business perspectives to their technical and quantitative expertise. Their program is designed to provide students with a deep understanding of management education grounded in the scientific method. 

Here are their requirements:

• MIT requires 2 letters of recommendation. One recommendation should be from a math or science teacher, and one should be from a humanities, social science, or language teacher, although this is not a hard requirement.
• The MIT applications also require you to write multiple short essays in order to get to know yourself. This is not a writing contest, therefore, be authentic, open, and honest.
• MIT has also updated their requirements for the admission cycles – they require the SAT or the ACT for both prospective first-year and transfer students. However, they do not require the ACT writing section or the SAT optional essay.
• MIT requires a minimum IB score of 39 out of 45.

Below are the recommended scores for the standardized tests:

Test	Minimum Score	Recommended Score
TOEFL	90	100
IELTS	7	7.5
SAT	1500	1580
ACT	34	36

#3: University of California, Berkeley – Haas School of Business

UC Berkeley is one of the top public universities for business degrees in the world. Students who earn a Bachelor of Science degree from the Haas School of Business Undergraduate Program possess the knowledge and technical skills necessary to understand the modern business world, achieve the highest levels of success in their professional careers, and prepare for subsequent graduate work. Their coursework is fully integrated with the University’s liberal arts curriculum, resulting in graduates who are able to draw upon their knowledge of the arts and sciences as well as business in their endeavors.

Here are their requirements:

• UCB gives you the option of submitting 2 letters of recommendation as it is not fully considered for the application of admission.
• UC Berkeley remains to keep the ACT and SAT test-optional due to the ongoing challenges created by the Covid 19 pandemic for the 2022-2023 admissions cycle.
• UCB requires a minimum IB score of 37 out of 45.
• You are eligible to waive credit in certain courses if you have scored:
  • 5, 6 or 7 in Economics HL
  • 5, 6 or 7 in Math AA HL or Math AI HL

Below are the recommended scores for the standardized tests:

Test	Minimum Score	Recommended Score
TOEFL	80	100
IELTS	6.5	7
SAT	1415	1530
ACT	29	34

#4: University of Michigan Ann Arbor – Ross School of Business

The Michigan Ross curriculum throws you right into the action, excitement, and risk inherent in business and is also one of the best universities for journalism. Michigan Ross develops leaders who make a positive difference in the world, through top-ranked MBA, bachelor’s, and specialty master’s programs.

Here are their requirements:

• You are required to submit a “Ross Admissions Portfolio” which consists of two components. ​​It is a chance to fully express your interest in business in a more open-ended format.
• Standardized test scores have become a requirement by the university post the Covid 19 pandemic for the first-year BBA applicants.
• The university requires a minimum IB score of 37 out of 45.

Below are the recommended scores for the standardized tests:

Test	Minimum Score	Recommended Score
TOEFL	100	–
IELTS	7	–
SAT	1340	1435
ACT	31	34

#5: New York University – Stern School of Business

Through each of their five comprehensive degree programs, they are committed to providing you with an innovative and well-rounded business education rooted in the liberal arts. There is no one set path for a Stern undergraduate—you have the freedom and flexibility to explore several areas of business and to incorporate minors and additional majors from across NYU. As a business student at NYU Stern, you will receive a well-rounded education in the liberal arts, business fundamentals, global business, and social impact.

Here are their requirements:

• NYU requires a minimum IB score of 38 out of 45.
• You are eligible to waive college credit if you have received scores of 6 or 7 on higher level exams.
• NYU has made standardized testing optional for applicants applying to the fall 2022 semester.
• They find students are best prepared for NYU if they’ve studied the following subjects:
  • English/Writing – 4 years
  • History/Social Studies – 3 to 4 years
  • Mathematics – 3 to 4 years
  • Laboratory Sciences – 3 to 4 years
  • Foreign Language – 3 to 4 years

Below are the recommended scores for the standardized tests:

Test	Minimum Score	Recommended Score
TOEFL	100	–
IELTS	7.5	–
SAT	1370	1540
ACT	31	34

#6: University of Texas at Austin – McCombs School of Business

The McCombs School of Business is a top-ranked business school welcoming the enterprising spirit of students everywhere. Their curriculum complements the valuable skill sets you would bring to their table. McCombs School of Business has been home to a diverse community of learners, scholars, and trailblazers at the forefront of transformation in business. This university should be included in your checklist of top universities for business.

Here are their requirements:

• UT Austin requires a minimum IB score of 37 out of 45.
• If you score 5 – 7 points in IB Business Management HL you will be able to waive off some college credit.
• SAT’s and ACT’s are not required for admissions consideration, but will be considered as part of your application for admission if submitted by the appropriate deadline.
• UT Austin allows you to submit up to two optional letters of recommendation with your admission application.

Below are the recommended scores for the standardized tests:

Test	Minimum Score	Recommended Score
TOEFL	79	–
IELTS	6.5	–
SAT	1340	1470
ACT	26	33

#7: Carnegie Mellon University – Tepper School of Business

At Tepper, you’ll pursue your bold goals in an intimate setting. In small classes, you’ll find the support and attention needed to forge your future. In your first year, you’ll take core business courses while building foundational skills for analysis, communications, and context through additional courses, and pick a concentration to gain depth in a specific business area.

Here are their requirements:

This is what Carnegie Mellon requires from high school:

• 4 years English
• 4 years Mathematics (Preferably advanced mathematics)
• 1 year Chemistry
• 1 year Physics
• 1 year Biology
• 2 years Foreign Language
• 3 Electives
• Carnegie Mellon University is extending their test-optional policy through Fall 2023, removing the SAT/ACT standardized testing requirement for all first-year applicants.
• Carnegie Mellon requires a minimum IB score of 30 out of 45.

Below are the recommended scores for the standardized tests:

Test	Minimum Score	Recommended Score
TOEFL	102	–
IELTS	7.5	–
SAT	1460	1560
ACT	33	35

#8: Cornell University – SC Johnson College of Business

With a mission to mobilize diverse expertise, generate world-class knowledge, inspire students, and impact society in a positive manner, choose from two undergraduate business programs in the Cornell SC Johnson College of Business. Each program is offered by a top-ranked school—the Charles H. Dyson School of Applied Economics and Management and the Cornell Peter and Stephanie Nolan School of Hotel Administration—and will give you a distinct set of experiences to match your interests and ambitions. And, that is the reason why it is included on the list of top universities for business.

Here are their requirements:

Cornell requires a minimum IB score of 37 out of 45.  

Cornell requires/recommends these in your secondary school – 16 units of:

• 4 of English
• 4 of Mathematics (including calculus)
• 1 of Chemistry
• 1 of Physics
• 1 of Biology
• Cornell has suspended the SAT/ACT testing requirement for 2022, 2023 and 2024 applicants. They will not be using the test scores in the admission process even if you submit them.
• Cornell requires 2 letters of recommendation from teachers and one from your high school counselor.

Below are the recommended scores for the standardized tests:

Test	Minimum Score	Recommended Score
TOEFL	100	–
IELTS	7.5	–
SAT	1400	1540
ACT	32	35

#9: Indiana University – Bloomington – Kelley School of Business

The Kelley School core curriculum, along with co-curricular activities and career exploration opportunities, will help you identify your strengths and interests—and your career path. Your first two years at Kelley will be focused on career exploration. You’ll focus on your major coursework in your third and fourth years. At Kelley, you’ll develop the experience and skills to build lasting momentum for your career. With a long list of over 20 top-ranked majors, 4 minors, and a certificate, you’ll find the unique combination to achieve your goals.

Here are their requirements:

• Indiana University requires a minimum of 40 IB points out of 45.
• IU’s test-optional admissions policy allows you to choose whether to have your SAT or ACT test scores considered as part of your application review.
• You can earn up to 8 credit hours per exam for IB higher-level scores of 5 or higher. You can transfer credits if you’ve taken IB Business Management, English A HL, Mathematics AA/AI

Below are the recommended scores for the standardized tests:

Test	Minimum Score
TOEFL	100
IELTS	7
SAT	1370
ACT	30

#10: University of North Carolina – Kenan-Flagler Business School

With a business degree from UNC Kenan-Flagler, you’ll master essential problem-solving, collaboration, teamwork and analytical skills that will prepare you for success in almost any field — from finance and consulting to commercial, government and non-profit.

Here are their requirements:

• One letter of recommendation should come from a secondary school teacher who taught you in a core academic area, like English, math, science, social science, or world language.
• Due to the Covid 19 pandemic, the UNC System has extended its waiver of the SAT or ACT requirement for candidates who are applying for fall 2023 or fall 2024 admission.
• You will be able to transfer credits if you have achieved a score of 4 in Math AA HL or a 5 in Math AI HL.
• Indiana University requires a minimum of 35 IB points out of 45.

Below are the recommended scores for the standardized tests:

Test	Minimum Score	Recommended Score
TOEFL	100	–
IELTS	7	–
SAT	1280	1490
ACT	28	33

 

Also Read – Top 10 Global Universities for Economics

Here are some bonus things that will get you some brownie points on your application!

Business schools look for qualities of creativity, teamwork, leadership, consistency, planning & organizational skills, analytical skills and oration skills. So any extracurriculars that involve these skills will boost your application. Business schools want students who can make a positive impact and shoulder responsibility in any environment. However, do something that you are passionate about and not because the business school wants to see it. To be a part of that small percentage of students that get selected into one of the top universities for business, the bare minimum won’t do. If you have the passion, your application will take you to the front of the line.

• Academic or Sports Clubs – The admission board also looks for students who are interested in learning outside classroom walls. If you have any accomplishments in sports or school clubs like math club, English club, science club, etc. don’t forget to mention it in your application.
• Try to attend MUN’s as they show your leadership, communication, and managerial skills and will basically be a cherry on top for your application. Try to achieve recognition in these MUN’s as they would take you a longer way than just participation.
• You could be involved in the student government at school or a student council. Being a representative or president of any group displays your leadership potential. If you were in a position of responsibility, it shows that you are capable of handling a lot of people. Since you are in a position of power, try to organize School events – If you have organized an event at your school or were a part of the organizing committee, it displays your effective managerial skills.
• Corporate Internships

Anything and everything you do extra, weighs in on your application in one way or another. Keep in mind that everything you write in your statement of purpose should show what you’re truly passionate about. Don’t forget to explain your compassion towards everything you’ve done to depict your interest in pursuing a business major. 

Now that you have the all-in-one guide for anything you need with respect to the top universities for business, it’s time to get started and work towards your dream university. All the best on your application! 

Further Reading:

Wall Street Oasis – Institutional Buyout (IBO)