10 Undergrad Business Schools To Watch In 2024

University of Minnesota Carlson School of Management 

There was already a lot going on at University of Minnesota’s Carlson School of Management when new dean Jamie Prenkert took the reins in July.

The school launched a brand-new undergraduate curriculum in Fall 2022, focused on leadership and teaching students to solve complex problems. In December 2023, it announced a $40 million renovation to  70,000 square feet of its flagship building adding collaboration and study space, reimaging auditorium and atrium to better integrate technology, and creating an experiential learning suite.

And, in 2022, it launched a Center for Inclusive Excellence, signaling the school’s commitment to Diversity, Equity, and Inclusion. That was a significant plus when Prenkert considered making the jump to Carlson from the Kelley School of Business where he taught since 2002.

Carlson’s moves in DEI are “consistent with our focus on ensuring we show all people in our community that they matter and that we want to empower them on their path to being their very best selves. We are focused on creating an environment of belonging,” Prenkert told P&Q in this February interview. 

With Prenkert’s one-year anniversary as Carlson dean coming this summer, we’ll be watching to see what comes next.

P&Q INTERVIEW WITH JAMIE PRENKERT

Dean Jamie Prenkert tells P&Q about what’s new and special at Carlson in the Q&A below.

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

To better prepare our graduates for the business world of the future, we launched a brand-new curriculum in Fall 2022. Designed to teach students to solve complex problems and take on leadership roles, the curriculum falls under three pillars: People & Planet, Data & Decisions, and Foundations & Impact. Each pillar carries its own signature experience.

Recognizing that college is about so much more than the academic skills you learn, the People & Planet pillar helps students get to know themselves and understand what will bring them fulfillment through design thinking courses. This pillar includes coursework in leadership, business ethics, corporate responsibility, and Race, Power, and Justice in business. As part of this pillar, every student has an international experience. This has been a requirement of our curriculum since 2008, when we became one of the first business schools in the U.S. to take this step.

The Data & Decisions pillar features expanded analytical coursework. Based on feedback from employers, every student now takes courses that prepare them to analyze complex information and make data-informed business decisions. This includes R, Excel, business analytics, and a signature experience: the Impact Lab series. In the Lab, every student engages in experiential learning, working with real clients on real problems with real outcomes.

An integral part of our curriculum, and the Foundations & Impact signature experience, is the Impact Core, a two-semester cohort program where students experience courses from each of our majors. They develop foundational skills that every professional needs, while experiencing a course from each program and determining which major(s) best fit their needs and interests. By taking four courses each semester with the same group of students, the Impact Core facilitates strong bonds among the students, which will support them throughout their time at the Carlson School and for decades to come as the foundation of their professional network.

Finally, our Connecting Carlson project will redesign our flagship building, modernizing our space and improving opportunities for collaboration and connection.

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

We’re beginning a significant reimagination to modernize our school – the Connecting Carlson project, which will transform approximately 70,000 square feet of our flagship building. We’ll be adding collaboration and study space, transforming our auditorium and atrium to better integrate technology, and creating an experiential learning suite. The building will be renamed for Marilyn Carlson Nelson, making it the first University of Minnesota – Twin Cities building named after a female philanthropist and one of the only flagship business school buildings in the country named solely for a female industry leader. We’re expecting to complete this project by Fall 2026.

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

A key piece of our new curriculum is the Impact Lab series. Through these two courses — Impact Lab Problem Solving and Impact Lab in Action — students work directly with real organizations that are facing real challenges. Every student has the opportunity to develop an understanding of the complexity of real-world business challenges, to define and scope problems, and to work on crafting viable solutions. The world of work often presents problems that are much more layered and complex than those students encounter in the classroom. Through the Impact Lab, first- and second-year students learn how to put their skills into action.

Our unique commitment to both soft skills and hard skills prepares students to succeed in the real world. They take a cutting-edge data skills sequence, in addition to learning about identifying and navigating ethical challenges in business and working effectively as a member of a diverse team. This holistic approach expands beyond the classroom; we also are proud to house an embedded wellness counselor. The counselor, whose office is in the undergraduate program and exclusively serves our students, provides both individual counseling and group activities.

What separates your graduates from other business school graduates?

We tell students to, “Come as you are, leave even greater.” We welcome each student as they are, and strive to provide the resources they need to leave as the best possible version of themselves. As a Carlson School student, every undergraduate completes our well-rounded curriculum that integrates hard and soft skills. When they enter the work world, they not only understand how to read financial documents, create marketing plans, and other foundational business skills, they also understand how to think creatively and work productively as part of a team.

Throughout their time here, our students are challenged to engage in co-curricular activities and take on internships that support their career goals. These experiences, in addition to the career skills they develop here, make it possible for them to “leave even greater” – as a version of themselves that is ready to pursue their most ambitious goals.

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

We offer career services from Day Zero – our students are first introduced to Career Coaches during Orientation. Then, every student takes two courses taught by a Career Coach: Design Your Life and Design Your Career. In these courses, students learn foundational skills for success in the job hunt and think carefully about designing their college experience to achieve these goals. Through these courses, guaranteed one-on-one career coaching, and other programs, every student interacts with a member of our Student Life & Career Design team at least 22 times during their Carlson School journey.

This model ensures that our students develop strong relationships with Career Coaches, so that they have someone to turn to down the road when they are negotiating offers and making life-changing early career decisions. These services remain available for alumni too. Career coaches are only one piece of our success and belonging team, which includes personalized academic advising, peer mentorship, and a dedicated wellness counselor.

Additionally, there are specialized opportunities for those interested in specific types of careers. That includes consulting, investment banking, or a career based outside the U.S. Through programs and courses, students can visit Chicago, New York City, and/or London. Leveraging the school’s alumni network, current students are able to explore career opportunities in the place they’re interested in being after graduation.

Lastly, undergraduate students are able to participate in our Enterprise offerings, which offer experiential learning with real clients. Through four Enterprises (Brand, Consulting, Funds, and Ventures), students are exposed to a variety of projects supporting for-profit, non-profit, and start-up businesses. These are often mentioned as the most formative experience students have, and position them well for securing competitive roles upon graduation.

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

Since 2008, the Carlson School has required every student to have an international experience. In an increasingly globalized business environment, we believe that it is essential for our students to be globally competent. Whether they travel for one week or one semester, we are one of the only business schools to ensure that every student has this experience. Many of our alumni consider their international experience to be life changing, both personally and professionally.

The three pillars of our curriculum each house a signature experience. The international experience is part of People & Planet. The Impact Core, where students take an introductory course in each of our majors as part of a cohort, is a piece of our Foundations & Impact Pillar. Finally, the Data & Decisions pillar includes the Impact Lab series, where students put their analytical skills to work to make a difference for a real organization.

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

Our location in the heart of the Twin Cities allows students to connect with Fortune 500 companies from their first days on campus. The Minneapolis-St. Paul metro area has the most Fortune 500 companies per capita in the country, with 15 headquartered here in Minnesota in the most recent listing. We are located just one light rail stop from downtown Minneapolis.

The Carlson School does not hold classes on Fridays, allowing our students to take on internships and part-time jobs during the work week. Almost all of our students have an internship experience, with many having multiple throughout their time as a student. These work experiences allow them to take their classroom education directly into the professional world, putting their education in action just a few steps away from our campus.

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

Many of our students find jobs with one of the 15 Fortune 500 companies headquartered here in Minneapolis. Wells Fargo, Target, General Mills, Ecolab, and Deloitte are among our biggest employers. These companies are tightly connected to the Carlson School, regularly sending recruiters, speaking to classes, attending networking events, and hiring our students as interns. By the time students are seeking full-time employment, they often already have strong relationships with one of these top employers.

We consistently hear that our students perform well throughout the job search process as they are well-prepared to articulate their background/interests and career goals. This preparation is a key piece of our embedded career services model, where students begin learning these skills in our first year. Employers also regularly comment on Carlson School students’ “Midwest work ethic” and their willingness to put in the time and energy necessary to succeed.

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

In addition to supporting our current students, we are committed to providing pathways to education for young people throughout the Twin Cities. Through several pathway programs, we offer free on-campus experiences for students as young as middle school. These programs, such as Analytics U and Business Innovation Academy, give students the chance to experience a university campus, learn about business, and connect with college students, all in a low-pressure format. For first-generation students, these experiences can be life changing and make them believe that college is possible for them.

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