Wharton Regains Top Spot in P&Q’s 2024 Undergraduate Business School Rankings
After slipping to No. 3 last year, the University of Pennsylvania’s Wharton School has reclaimed its position at the top of Poets&Quants’ ranking of the best undergraduate business schools.
For Wharton, this is familiar territory—it’s the sixth time the Philadelphia-based school has landed at No. 1, including a five-year streak from 2018 to 2022. Last year, Wharton fell short of the minimum response requirement in the alumni survey portion of the ranking (which makes up a third of the final score), dropping it to third place. This year, with the response threshold met, Wharton surged back to the top.
Meanwhile, the University of Southern California’s Marshall School of Business slid one spot to No. 2, and Georgetown University’s McDonough School of Business also dropped one place to No. 3.
The 2024 Top 10 list includes nearly all the same schools as last year, with one exception: Washington University in St. Louis’s Olin Business School fell just outside, dropping two spots to No. 11. That opened the door for Georgia Tech’s Scheller College of Business, which climbed one spot to No. 10.
P&Q’s 2024 Top 10 Undergraduate Business Schools
| 2024 Rank | School | Total Index Score | 2023 Rank | YOY Change |
|---|---|---|---|---|
| 1 | UPenn (Wharton) | 100.00 | 3 | +2 |
| 2 | USC (Marshall) | 95.84 | 1 | -1 |
| 3 | Georgetown (McDonough) | 95.50 | 2 | -1 |
| 4 | UVA (McIntire) | 94.36 | 4 | 0 |
| 5 | UMich (Ross) | 93.59 | 8 | +3 |
| 6 | Cornell (Dyson SC John) | 93.56 | 6 | 0 |
| 7 | Notre Dame (Mendoza) | 92.03 | 5 | -2 |
| 8 | UNC (Kenan-Flagler) | 91.38 | 10 | +2 |
| 9 | NYU (Stern) | 90.81 | 7 | -2 |
| 10 | Georgia Tech (Scheller) | 89.08 | 11 | +1 |
Wharton’s Comeback Story
Wharton’s No. 3 finish in 2023 broke its five-year winning streak—largely due to missing the alumni survey response threshold. Last year, it ranked highest in Admission Standards and third in Career Outcomes, but its Academic Experience score (33.3% of the total) suffered, landing at 57th.
This year, Wharton cleared the response requirement, earning full credit. Combined with its 2022 and 2021 alumni data, it ranked 30th in Academic Experience while dominating Career Outcomes and Admission Standards—which together make up 66.7% of the score.
USC Marshall, the No. 2 school overall, placed second in Admission Standards (down from first in 2023), seventh in Career Outcomes (up from ninth), and sixth in Academic Experience (up from ninth).
How the Top 10 Compare Across Categories
| School | Career Score (Rank) | Admission Score (Rank) | Academic Experience (Rank) | Raw Total (Out of 300) |
|---|---|---|---|---|
| 1. UPenn (Wharton) | 100.00 (1) | 100.00 (1) | 89.43 (30) | 289.43 |
| 2. USC (Marshall) | 90.14 (7) | 90.32 (2) | 96.94 (6) | 277.40 |
| 3. Georgetown (McDonough) | 94.71 (2) | 83.95 (4) | 97.75 (3) | 276.41 |
| 4. UVA (McIntire) | 90.34 (6) | 82.76 (6) | 100.00 (1) | 273.10 |
| 5. UMich (Ross) | 93.10 (3) | 80.14 (9) | 97.64 (4) | 270.88 |
| 6. Cornell (Dyson SC John) | 91.27 (5) | 84.12 (3) | 95.40 (12) | 270.79 |
| 7. Notre Dame (Mendoza) | 87.42 (11) | 83.11 (5) | 95.82 (10) | 266.36 |
| 8. UNC (Kenan-Flagler) | 88.79 (10) | 78.76 (11) | 96.93 (7) | 264.48 |
| 9. NYU (Stern) | 89.69 (9) | 80.36 (7) | 92.80 (18) | 262.84 |
| 10. Georgia Tech (Scheller) | 81.66 (25) | 79.01 (10) | 97.16 (5) | 257.83 |
2024 Methodology Updates
This year’s ranking included 91 schools, with two newcomers: Loyola Marymount University (debuting at No. 39) and Roger Williams University’s Gabelli School of Business (No. 79).
The ranking evaluates three key areas (each weighted at 33.3%):
- Admission Standards – Student quality and diversity.
- Academic Experience – How well schools nurture and challenge students.
- Career Outcomes – Employer response to graduates.
The only major change from 2023? Three years of alumni data (instead of two) were factored in to smooth out year-to-year fluctuations.
Admission and career data came from school surveys (July–December 2023), while Academic Experience relied entirely on alumni feedback. Schools needed a 10%+ response rate for full credit—this year, seven missed the mark (down from 13 in 2023).
Biggest Movers in 2024
Biggest Rises:
- William & Mary (Mason): Up 20 spots to No. 48.
- Carnegie Mellon (Tepper): Up 17 spots to No. 29.
- Michigan State (Broad): Up 17 spots to No. 55.
Biggest Drops:
- Seton Hall (Stillman): Down 11 spots to No. 61.
- UNC-Wilmington (Cameron): Down 14 spots to No. 76.
Top Performers by Category
Admission Standards:
- Wharton
- USC Marshall
- Cornell (Dyson)
Career Outcomes:
- Wharton
- Georgetown (McDonough)
- UMich (Ross)
Academic Experience:
- UVA (McIntire)
- Indiana (Kelley)
- Georgetown (McDonough)
Notable Data Highlights
- Wharton’s acceptance rate: Just 4.5%—the lowest in the ranking.
- NYU Stern’s average SAT: 1545, the highest for the second straight year.
- Two schools reported 100% employment for 2023 grads: Richmond (Robins) and Florida Southern College.
The full ranking represents the top 12% of AACSB-accredited business schools, offering an unparalleled look at undergraduate business education. Stay tuned for deeper dives into acceptance rates, salaries, and more.