For more than four decades, the University of Nebraska–Lincoln School of Accountancy has produced leaders who have achieved distinction in their careers. This fall, the school honored one of those leaders by inducting Laura Schulte, ’81, into its Hall of Fame.
“This is an incredible honor, and I’m humbled to join a very prestigious list of former inductees, including those I have admired over the years,” Schulte said. “I never pictured myself receiving an award like this, so a huge thank you to everyone who made it possible.”
Schulte built a 32-year career at Wells Fargo, rising to the CEO’s Management Committee and leading major divisions in customer experience, strategy, compliance, credit and finance. She helped guide the bank through mergers and acquisitions, including Wachovia, earning recognition as one of the 25 most powerful women in banking.
“Her leadership shaped corporate strategy during dynamic times, and her example shows that true leadership extends beyond business to shaping institutions that strengthen our society,” said Kathy Farrell, James Jr. and Susan Stuart Dean of the College of Business.
Schulte's career path began with practical advice from her father, who worked at the Daily Nebraskan, Lincoln Journal Star and Omaha World-Herald. He encouraged her to choose a practical major with strong career prospects.
“I needed a good return on my investment, because for us, college was expensive," she said. "I went to see my advisor and asked what business major would give me the best chance to get a job and pay me a decent salary. Without hesitation, the answer was accounting."
She started in internal auditing before becoming audit department manager in Nebraska. With encouragement from her husband, Mike, she transitioned into finance, becoming the bank’s chief financial officer and later overseeing profit-and-loss responsibilities. She shared how she moved six times to start new positions within financial services in credit cards, retail mortgage and even mergers and acquisitions, and each led to future opportunities.
“The accounting degree I feared would be boring was actually a way to understand a fascinating story,” she said. “I found out that accounting was my competitive advantage.”
Beyond her corporate career, Schulte embraced community leadership, serving on nonprofit and corporate boards, like the College of Business Dean’s Advisory Board between 2011-20. Today she chairs the board of an internet bank and sits on another for a publicly traded company investing in climate solutions.
She also returned to campus as Alumni Master in 2015, shortly after retiring, encouraging students to take risks, volunteer and embrace setbacks as learning opportunities.
"I've failed a few times in my career, and that's where I've learned the most. Don't be afraid to ask questions," she said.
Reflecting on her journey, she emphasized the lasting value of her degree, highlighting its versatility and impact.
“An accounting degree is a skill no one can take from you, and it opens doors to countless opportunities,” she said. “There are always jobs in accounting, and learning the language of business truly gives you a competitive edge.”
