Business Schools in District Of Columbia
The District of Columbia has just over 10 schools with business programs. Majors and concentrations include business administration, finance, accounting, management, and e-business. Degree options range from associate’s to doctorate degrees.
Marketing Degree Programs in the District of Columbia
State of Washington, D.C.’s Marketing Industry
The marketing industry is living large in our nation’s capital. Since the millennium, Washington, D.C.’s economy has grown faster than the U.S. and continues to pick up speed. Its job market hardly dropped in the recession, and it was insulated from the worst of the housing crisis.
That’s because the District of Columbia relies on two major sectors for its existence: government, and professional or technical services, according to Chase’s 2012 Economic Outlook for the District. Marketers are hard at work in PR agencies, media groups, lobbying firms, the tourism industry and, of course, companies dependent on government contracts.
Despite relatively high business and regulatory costs, D.C. is home to three Fortune 500 businesses (Fannie Mae, Danaher and Pepco Holdings). Along with the pundits and politicians, there are also plenty of tech experts. In 2012, USA Today ranked D.C. the fifth best place in the country to start a new high-tech company.
Job Prospects for Washington, D.C. Marketing Graduates
Job prospects for marketing graduates in D.C. look good. For 2008-2018, the Department of Employment Services is predicting jobs for market research analysts will grow by 22% (200 jobs), PR specialists by 17% (450 jobs) and marketing managers by 12% (40 jobs).
The District of Columbia is literally packed with marketers. In 2011, D.C. had the third-highest concentration of marketing managers in the nation (behind Connecticut and Minnesota), according to the US Department of Labor, Bureau of Labor Statistics (www.bls.gov). These lucky folks earned an annual median income of $124,600 – far above the national median of $116,000. The cost of living is correspondingly high, reports Forbes.
Big advertising and PR names include GMMB, MDB Communications and Powell Tate. Some companies, such as APCO Worldwide, are directly involved in strategic matters that affect a business’s reputation and future.
Washington, D.C. Schools for Marketing
Washington, D.C. has a highly educated workforce and some outstanding business schools. There are eight accredited marketing schools in the District of Columbia – here are two of the best-known:
1. Georgetown University (http://msb.georgetown.edu/)
Ranked #24 in “Best Business Schools” by U.S. News & World Report in 2013, Georgetown’s McDonough School of Business offers a Bachelor of Science in Business Administration with a major in marketing and a full-time or evening MBA with an elective in marketing. A marketing certificate is available from the School of Continuing Studies.
McDonough’s programs have an interdisciplinary focus in finance, international business and public policy. Two research centers and a number of initiatives (e.g., Georgetown Entrepreneurship Initiative) bring together D.C. businesses and students.
2. George Washington University (GW) (http://business.gwu.edu)
GW’s School of Business comes in second to Georgetown in the U.S. News & World Report business school rankings (#57), but it is also cheaper. Students can opt for a Bachelor of Business Administration with a concentration in marketing, a part-time or full-time MBA, or a doctorate in marketing.
The school has a range of research centers, including the Center for Latin American Issues and the International Institute of Tourism Studies. Undergraduates and graduates alike are encouraged to participate in consulting and study abroad programs.
Professional Marketing Organizations in Washington D.C.
If you’re looking for socially-minded marketers, D.C. is the place to be. The Federal City has a slew of marketing organizations, many of which organize regular networking and continuing education opportunities.
- Ad 2 DC (http://www.ad2dc.org/): Washington D.C. branch of Ad 2 National (for young professionals) and affiliate of the American Advertising Federation
- AMA DC (http://www.amadc.org/): Washington D.C. chapter of the American Marketing Association
- DC Ad Club (http://www.dcadclub.com/): Washington D.C. chapter of the American Advertising Federation
- DMAW (http://www.dmaw.org/): Direct Marketing Association of Washington
- SMPS DC (http://smpsdc.org/): Washington D.C. chapter of the Society for Marketing Professional Services
Business Degree Programs in District Of Columbia
Washington DC’s Gross State Product (GSP) was $105.5 billion in 2015, ranking the District 34th among all 50 states – an impressive fact in itself given that this compares the DC metro area to entire states. Federal jobs account for around 30 percent of all employment in Washington, making DC’s business environment particularly resilient to fluctuations in the national economy.
Its status as the nation’s capital also means special opportunities for business professionals to work with think tanks and other organizations that hold considerable sway over the nation’s economic policies. Among the organizations in Washington DC that seek talented graduates with degrees in finance, economics and business administration include:
- Cato Institute
- Heritage Foundation
- American Foreign Policy Council
- Center for Economic and Policy Research
- American Council for an Energy-Efficient Economy
Washington DC’s business schools produce graduates every year with the qualities necessary to lead the District’s businesses down the path of continued growth and profitability. Among the degrees these professionals hold are bachelor’s degrees in business administration and specialized MBAs:
- Graduates with a BS in Business Administration
- Graduates with a BS in Business and a concentration in Marketing
- Graduates with an MBA and a concentration in Finance
- Graduates with an MBA and a concentration in Human Resources
Competing for Jobs with Washington DC’s Corporate Employers
DC-based corporations, nongovernmental organizations and government agencies actively work to attract qualified professionals, often offering some of the best wages in the nation. Having a strong educational foundation in your area of expertise – whether in finance, business administration, HR management, marketing or accounting – will help you distinguish yourself in Washington DC’s competitive job market.
According to the US Department of Labor, Bureau of Labor Statistics (www.bls.gov), Washington DC enjoys some unique distinctions when it comes to income for management positions:
- General and Operations Managers earn the second-highest average income of all states in the nation
- Human Resources Managers earn the second-highest average income in the nation
- Administrative Services Managers earn the third-highest average income in the nation
- Marketing Managers earn the fifth-highest average income in the nation
As a marketing manager, HR specialist, financial controller or executive leader for one of DC’s 66,514 small businesses, drawing from education and experience is essential to backing up your leadership, and can be critical to the success of the entire company. Having proven yourself competent, you may find additional opportunities with some of the area’s best-known companies. The Fortune 500 list for fiscal year 2014 featured a number of DC-based companies that have become household names:
- Fannie Mae – $14.21 billion in profits and $2.72 billion valuation
- Danaher – $2.60 billion in profits and $60.03 billion valuation
- Pepco Holdings – $242 million in profits and $6.78 billion valuation
- Carlyle Group – $86 million in profits and $1.87 billion valuation
- WGL Holdings – $106 million in profits and $2.80 billion valuation
The District may be geographically small, but some of the more innovative Master of Business Administration (MBA) programs are packed in these 68 square miles.
Down the street from the Department of the Treasury, within walking distance of the Department of Commerce and two blocks from the World Bank, George Washington University’s School of Business is located at a key crossroad for global business. Their MBA programs make the most of this location, where the private and public sectors meet. The Global, Professional, and World Executive MBA programs are offered on campus for full-time and part-time students, while the Healthcare MBA is offered online. Through GWSB:DC, the school’s digital community, you also have the option of completing a 52.5 hour MBA program completely online over a three-year period, with the exception of a four-day residency on campus. Students take part in guided virtual classroom sessions and have access to faculty during online office hours.
The business school at Howard was the first in the city to achieve Association to Advance Collegiate Schools of Business (AACSB) accreditation for its MBA programs. Howard offers several MBA options. The full-time MBA offers on an immersive on-campus experience, while the evening part-time program accommodates working students with a three-year program or a standard four-year program. The Executive MBA is offered online over an 18-month period to accommodate the challenging schedules of upper-level executives with management experience.
The University of the District of Columbia’s School of Business and Public Administration’s MBA program is offered as a traditional on-campus program. A low faculty-to-student ratio and professional networking events add to the value of this program, which requires 33 core course hours and 15 elective hours in your chosen area of concentration. Some of the innovative classes offered include sustainable entrepreneurship and global strategic management. The program is designed to be completed in four semesters.
Georgetown University’s McDonough School of Business is known around the world for its emphasis on international business and innovative approaches to learning. The school makes use of its position at the center of business and politics and hosts a number of initiatives that allow students and faculty to work together to investigate and find solutions for issues that impact global business; these include the Center for Financial Markets and Policy, the Entrepreneurship Initiative and the Institute for the Study of Markets and Ethics. Georgetown offers full-time and evening MBA options and an executive MBA for professionals in leadership positions. In addition, the school has partnered with Georgetown’s Walsh School of Foreign Service and the ESADE Business School in Barcelona, Spain for a true international experience through their Global Executive MBA program.
The Kogod School of Business at American University combines active involvement in business and government initiatives in the city with a curriculum centered around international commerce. The school offers two formats, both offered on campus only. The full-time MBA program is designed for completion in four semesters. This immersive program is supported with internships, career development programs and student activities that can help you establish a network of industry leaders you could end up working with for years to come. The professional MBA program is designed for working professionals who want to take their careers to the next level. Classes are held one night a week, and the curriculum takes seven semesters to complete.