<p>"Can undergraduate courses rival MBAs?</p>
<p>By Peter Walker for CNN
Monday, July 24, 2006 </p>
<p>Fast lane to success for undergraduate business students?</p>
<p>(CNN) -- While an MBA might be seen as the standard passport to big business success, increasing numbers of young students are now looking at a more direct route to the top: undergraduate business degrees.</p>
<p>Once seen as a distinct poor second choice for the less able, undergraduate business programs are fast increasing in prestige, a trend emphasized by a major new survey of US schools conducted by Business Week.</p>
<p>The magazine polled nearly 100,000 business majors at 84 of the best US universities and colleges, as well as separately surveying college recruiters and business programs themselves.</p>
<p>One key finding was that top-quality undergraduate business courses generally flourish alongside similarly prestigious MBA schools -- nine of the top 10 undergraduate programs have highly ranked MBA programs as well.</p>
<p>In top place was the famous Wharton School at the University of Pennsylvania, while other famous MBA names -- MIT, Michigan, Virginia -- are scattered around the top spots.</p>
<p>Undergraduate business degrees are now seen as a serious proposition for those looking to get ahead in business, especially the eager types unwilling to take a first degree and then put in the requisite years of real world experience demanded by MBA programs.</p>
<p>While average salaries for those finishing undergraduate courses are rising all round, business majors have fared better than anyone, with an increase of 49% from 1996, according to the National Association of Colleges and Employers. This is against a 29% increase for liberal arts students and 39% for engineering graduates.</p>
<p>For business undergraduates at the top schools, average starting salaries can now easily exceed $50,000.
New methods</p>
<p>This rise in prestige has been mirrored by a revamp of undergraduate business programs, with the top ones increasingly resembling MBAs thanks to an emphasis on the rigorous study of economics, statistics and accounting and MBA-like teaching methods using case studies and team exercises.</p>
<p>In contrast, Business Week said, the lower-ranked undergraduate courses tended to still follow the older methods of having less business theory and more practical application.</p>
<p>"What you're seeing is a polarization," Barbara E. Kahn, director of Wharton's undergraduate business division, told Business Week. "This is different from what it was 25 years ago. It wasn't the academic experience it is today."</p>
<p>Reflecting, and at the same time powering the rapid improvements in the top undergraduate courses is the caliber of the students trying to sign up. At Wharton, just 16% of the 4,200 high school seniors applying for the course won admittance, while at fourth-placed MIT, the figure was just 14%."</p>
<p>Nuff said?</p>