Business Degree Schools in New Mexico
The 47th state admitted to the union, only a little over a century ago, New Mexico is relatively new to the United States but a region with a long and rich history. Inhabited by Native Americans for thousands of years before Europeans arrived in the 16th century, the region was named Nuevo México by Spanish settlers more than 200 years before the country of Mexico was so named (a little-known fact!) The 5th largest state by area but just the 36th most populous, New Mexico has one of the lowest population densities of any state, and its population of just over 2 million reflects its history well, with the highest percentage of Hispanic Americans and second highest of Native Americans of any state. Its economy is driven by resource extraction (including oil and minerals), farming, ranching, lumber milling and retail industry.
Its small population leads New Mexico to have very few business schools: data from the National Center for Educational Statistics (NCES) shows only 8 public and non-profit schools that grant undergraduate business degrees in the state. Of these, 5 are accredited. Choosing an accredited business degree limits your choices to a certain extent, but it is worth the benefits of ensuring that the program has clear objectives and proven quality outcomes while adhering to national and international standards. Accredited schools also typically offer a richer educational experience by offering interaction with real businesses.
All of the schools in this article have been accredited by the Association to Advance Collegiate Schools of Business (AACSB), Accreditation Council for Business Schools and Programs (ACBSP), and/or International Accreditation Council for Business Education (IACBE). They are all public or non-profit and regionally accredited by the Higher Learning Commission (HLC).
This article contains all the essential data you need to help choose the New Mexico business school that best suits your unique needs, based on a variety of key factors, including tuition, financial aid, entrance exam scores, graduation rates, and more. The sections that follow describe undergraduate programs and job prospects for business school graduates in New Mexico.
Undergraduate Business Schools in New Mexico
New Mexico is one of the very most affordable states for business schools. All 5 of the accredited schools on our list have tuitions under $8,000, with the average just $5,800 and the least expensive Northern New Mexico College at just $4,560. Average financial aid is actually higher than the average tuition, at $7,100, so clearly finances won’t be a reason not to go to school in New Mexico.
Graduation rates for undergraduate business degrees in New Mexico are rather low, unfortunately. The overall average is 27%, which is among the lowest in the nation. Northern New Mexico College has the lowest graduation rate at 18%, but even the best school, the University of New Mexico, is at only 44%.
The table below shows you all the important data you need about undergraduate business schools in New Mexico, including annual in-state tuition costs, average aid per student, acceptance rates, and graduation rates. Click any column header to sort the table based on its contents.
|School||City||Tuition||Aid||Median SAT||Median ACT||Accept. Rate||Grad. Rate|
|Eastern New Mexico University||Portales||$5,618||$5,557||57%||32%|
|New Mexico Highlands University||Las Vegas||$5,550||$5,758||22%|
|Northern New Mexico College||Espanola||$4,560||$5,835||18%|
|University of New Mexico||Albuquerque||$7,340||$6,359||58%||44%|
|Western New Mexico University||Silver City||$5,906||$12,225||20%|
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Job Outlook for Business School Graduates in New Mexico
From 2016 to 2026, Bureau of Labor Statistics (BLS) data predicts total growth of at least 5% in 32 of 37 business and management occupations across the US. The highest growth will be for market analysts and marketing specialists, at 22.8% over ten years, with financial managers coming in second at 18.7%.
New Mexico’s unemployment rate has tended recently to be more stable than that of the United States as a whole. It never got nearly as high as the national average of 10% during the Great Recession, peaking at 8.3%, but it also didn’t rebound as strongly as other states, so it has had an above-average rate since 2014; it currently sits at 4.9%, a little above the US average of 4%. About 21,000 people were employed in the business and management sector in New Mexico in 2016. The largest subgroup was general and operations managers at 3,030. The next largest subgroup was compliance officers at 2,130, one of the few states where that category is among the biggest.
According to BLS data, New Mexico ranked 45th among the 50 states and the District of Columbia for overall average annual wage across all occupations in 2016 at $46,748, well below the national average of $57,617. Business and management occupations had a weighted average annual salary of around $83,450 that same year, about double the average wage. Chief executives were the highest-paid category, as is the case with most states, but here at a more modest than usual $144,000. Most management positions fell between $90,000 and $130,000. The lowest-paid of the groups for which we have data was meeting and event planners at $48,220.
|Accountants and Auditors||13-2011||5,790||$32||$66,970||8.0%|
|Administrative Services Managers||11-3011||1,820||$43||$88,800||9.1%|
|Advertising and Promotions Managers||11-2011||160||$36||$75,270||5.8%|
|Architectural and Engineering Managers||11-9041||1,790||$72||$149,200||7.4%|
|Business Operations Specialists||13-1199||6,650||$34||$70,590||10.1%|
|Compensation and Benefits Managers||11-3111||30||$60||$125,000||0.187|
|Compensation, and Benefits Specialists||13-1141||210||$29||$60,910||5.6%|
|General and Operations Managers||11-1021||14,670||$48||$100,610||7.1%|
|Human Resources Managers||11-3121||560||$46||$95,350||-7.8%|
|Human Resources Specialists||13-1071||2,570||$29||$59,420||6.9%|
|Information Systems Managers||11-3021||1,190||$52||$108,560||12.0%|
|Labor Relations Specialists||13-1075||280||$21||$43,540||8.5%|
|Market Analysts and Marketing Specialists||13-1161||1,370||$28||$57,680||10.0%|
|Meeting and Event Planners||13-1121||390||$20||$40,640||8.4%|
|Public Relations and Fundraising Managers||11-2031||200||$42||$88,170||10.8%|
|Tax Examiners and Revenue Agents||13-2081||230||$22||$45,100||13.9%|
|Training and Development Managers||11-3131||110||$42||$88,090||-0.6%|
|Training and Development Specialists||13-1151||1,940||$27||$55,380||10.8%|
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1. National Center for Education Statistics:https://nces.ed.gov/
2. AACSB, Best Business Schools:http://bestbizschools.aacsb.edu/aacsb-accredited
3. ACBSP, Business Schools:https://www.acbsp.org/?page=accreditation
4. IACBE, Business Schools:http://iacbe.org/accreditation/
5. US Bureau of Labor Statistics – Occupational Outlook Handbook, Business and Financial Occupations: https://www.bls.gov/ooh/business-and-financial/home.htm
6. US Bureau of Labor Statistics – Employment and Wage Estimates New Mexico: https://www.bls.gov/oes/current/oes_nm.htm
7. US News & World Report, 2018 Best Business Schools: https://www.usnews.com/best-graduate-schools/top-business-schools