Rutgers ranks 9th on best colleges for earning a business degree
Rutgers University-New Brunswick ranked ninth on the list of top 25 colleges that are the best for earning a business degree, according to Fortune Magazine.
The ranking was based on expected return after estimating the price of tuition and the average income earned from business school students after they graduate.
With an estimated in-state expense cost of $29,933 and an average 20-year net return on investment of $655,400, Rutgers has risen above other prominent institutions such as George Washington University, Georgia Institute of Technology and the University of Notre Dame.
Michelle Stefanelli, president of Rutgers University Supply Chain Association (RUSCA), said the cost of tuition has a large influence on a student’s decision on where to invest four years of their lives.
“A lot of people pick Rutgers because they have great scholarship opportunities, and I know that my loans are a lot less than anywhere else,” she said.
As a senior majoring in supply chain management, Stefanelli found that the impact of lower tuition costs has motivated fellow peers who had been accepted to prestigious business schools such as New York University Stern School of Business to attend Rutgers instead.
“I think what’s really cool about Rutgers is that even though people might come here for financial reasons, everyone (I have met) is so smart and passionate and really tries to make the best of their college experience,” she said.
Martin Markowitz, senior associate dean of the Rutgers Business School, explained the opportunities found at Rutgers are the equal, if not greater than other top universities.
“We have excellent programs for our students, and when they get the same or greater education, and it cost them significantly less, they have a better return on their investment,” he said.
Markowitz also believed that the distinction between Rutgers and other universities lies in the quality of students that he has witnessed firsthand.
“I’ve often said we have students that don’t expect things to be given to them. They expect to work hard and earn them, and that’s the feedback I get from employers as well,” he said.
He said the location of the University, with close proximity to New York City, has allowed for greater opportunities and resources for future internships and jobs, especially for supply chain management students.
Rutgers Business School, which currently offers accounting, finance, management and marketing programs, has witnessed growth in two of their more recent majors, Supply Chain Management and Business Analytics and Information Technology (BAIT).
“Our first graduating class for the BAIT program consisted of 20 graduates and 196 job offers –– that’s an almost 10 to one ratio,” Markowitz said.
Markowitz attributed the success of the supply chain and BAIT program to the hardworking faculty that has taken into account the real world demand in comparison to the college education offered.
“The faculty got together with business contacts and saw that what we need is newer and more contemporary majors,” he said. “Thanks to Dean Lei, we now have one of the top supply chain management programs in the country.”
Markowitz also said that the new building has helped tremendously, with developing team rooms that students can use for collaborative projects, the way they would in the business world.
“I think people are beginning to see that we are a gem,” he said. “We’re the biggest hidden secret in New Jersey.”
Along with the academic programs, Markowitz also stressed on the importance of career development opportunities within the business school such as interviewing techniques, mock interviews, dining etiquette seminars, case competitions and backpack to briefcase programs.
“We are constantly working with top companies because we are interested in not just helping students find a job, but build a career,” he said.
Some of the most prominent companies that actively recruit from the Rutgers Business School are Goldman Sachs, Morgan Stanley, Prudential, Deloitte and PricewaterhouseCoopers, according to Markowitz.
Tyler Lepore, a sophomore majoring in supply chain and finance and current treasurer of RUSCA, has found a sense of community among members of the business school, through both academic- and career-related activities.
Lepore explained that through the Business Discovery House, a part of the living-learning communities at Rutgers, he has found a smaller group within the large University.
Anastasia Paluch, a junior majoring in supply chain and finance, also serves as the vice president of RUSCA and finds that through her organization, she has been able to expand career development for both herself and like-minded peers.
“We have our own career fair, the Supply Chain Meet and Greet as well info sessions, case competitions and site visits, which gives our members a lot of exposure,” she said.
As an upperclassman, Paluch hopes that RBS will continue to grow higher on the ranks through increased funding and faculty dedication.
“With supply chain in particular, I think we have such a great program that we can get to that number one position,” she said. “I know the Big Ten funding will help the school put more into the programs, and the business school will really be sought after.”
Markowitz also expressed hope that the business school would continue to gain exposure and receive recognition for opportunities it offers, in comparison to other universities.
“I think we’re beginning to get recognized outside of New Jersey for our excellent programs and students,” he said. “I don’t want us to be a secret anymore.”