Business Administration, Management and Operations at Winona State University

Winona State's business program sits in an awkward middle ground for Minnesota families. While graduates earn slightly above the national median for business programs ($47,097 versus $45,703 in the first year), they're falling behind their in-state peers—landing at just the 40th percentile among Minnesota business programs. That gap widens when you look at the state median of $52,469, meaning typical Winona State business graduates earn about $5,000 less annually than the average Minnesota business grad.

The debt burden of $25,000 is manageable, with graduates earning nearly double their debt in the first year. Earnings do grow steadily to $55,859 by year four, which helps close some of that gap with state competitors. But here's the challenge: families paying comparable tuition to attend other public universities in Minnesota could see significantly better returns. Programs at U of M campuses start graduates $10,000-$18,000 higher, while even some private options like Concordia match that advantage.

For families committed to Winona State for other reasons—campus fit, location, or specific opportunities—these outcomes won't derail a career. But purely from an earnings standpoint, Minnesota families have stronger options for business degrees that don't require taking on more debt.