Business Schools in New Jersey
New Jersey is home to more than 50 schools with business programs, offering options for students interested in a conventional campus-based learning experience as well online programs designed to fit even the most demanding schedules. Degree programs are available at every level, from undergraduate programs in business administration to specialized MBAs in finance, forensic accounting, global business, and much more.
Advice from an Experienced Professional
Originally founded in 1978, The New Jersey Association of Women Business Owners (NJAWBO) is the oldest statewide women business owners’ organization in the United States. Below we interview Mary Adelman, President of NJAWBO. In this interview, Ms. Adelman discusses why tech savvy students shouldn’t forget about communication skills along with the importance of internships and networking.
Marketing Degree Programs in New Jersey
State of New Jersey’s Marketing Industry
New Jersey’s economic fortunes are tied partly to those of its neighbor, New York. The Wall Street debacle didn’t help, and its key financial services and pharmaceutical industries appear to be consolidating. In a 2012 report, Chase Bank predicted the state would continue to recover, but slowly.
That being said, New Jersey has been leading the pack in job creation, according to Rutgers’ Economic Advisory Service. Thanks to its East Coast location, it is the largest chemical producing state in the nation and was home to 21 Fortune 500 companies in 2012. With the Big Apple just over the border, the Garden State’s marketing industry has always been strong and disproportionately large.
Advertising agencies abound in this fertile ground. Up-and-comers who appear on Inc.’s Top 5000 list of fastest-growing companies in 2012 include WebiMax, Pearl Media and Teknicks. WebiMax’s revenue went from $123,000 in 2008 to $7.1 million in 2011.
Job Prospects for New Jersey Marketing Graduates
Job prospects for New Jersey marketing graduates look pretty good. New Jersey’s Department of Labor and Workforce Development (DLWD) has predicted jobs for market research analysts and PR specialists will both grow by 15% from 2008-2018.
Managers may have more competition. Though New Jersey made room for 8,000 marketing managers in 2011 (U.S. Bureau of Labor Statistics), giving it the fifth-highest employment in the U.S., job growth is only expected to increase 2% by 2018 (DLWD). Even so, you stand a good chance of being amply rewarded if you are hired. The annual median income for New Jersey marketing managers in 2011 was a whopping $134,300 (www.bls.gov).
Budding marketers can look for opportunities with leviathans such as Medco Health Solutions, Johnson & Johnson, Prudential Financial and Merck, or they can aim for outstanding up-and-comers. There are over 150 New Jersey businesses on Inc.’s Top 5000 list
New Jersey Schools for Marketing
There are twenty accredited marketing schools in New Jersey, some just a stone’s throw away from Philadelphia and Manhattan. If you’re just starting your search, take a look at:
1. Rutgers University – Newark and New Brunswick (http://business.rutgers.edu/marketing)
The Business School at Rutgers has developed a Bachelor of Science with a major in marketing, two marketing MBAs (one with a concentration in pure marketing and one focusing on marketing research insights and analytics) and a doctorate in marketing science.
Ranked #63 in “Best Business Schools” by U.S. News & World Report in 2013, Rutgers provides students with consulting, mentoring, internships and case-study competitions.
2. Rider University (http://www.rider.edu/cba)
Rider offers a Bachelor of Science in Business Administration (BSBA) with a major in marketing and advertising, an MBA, and an online BSBA with a major in general business.
The College of Business Administration works with a number of partners in the business community and develops opportunities for teams of faculty-supervised students to provide confidential consulting.
Professional Marketing Organizations in New Jersey
Situated as it is at the crossroads of the tri-state area, New Jersey is brimming with marketing organizations. To expand their networking and education opportunities, many marketers also belong to New York clubs.
- BMA NJ (http://www.bma-nj.org/): Business Marketing Association – New Jersey
- NJ Ad Club (http://www.njadclub.org/): New Jersey Advertising Club
- NJ AMA (http://njama.org/): New Jersey Chapter of the American Marketing Association
- NJCAMA http://njcama.org/): New Jersey Communications, Advertising and Marketing Association
Business Degree Programs in New Jersey
In addition to serving the industrial manufacturing and distribution needs of the businesses that call New Jersey home, the state also serves as a major industrial center for New York City and Pennsylvania based companies. The state’s industrial base creates a unique environment for growing businesses in both New Jersey and neighboring states.
Thomas Edison established his personal research facility in Menlo Park forming the foundation of a legacy that lives on today in New Jersey’s booming technology industry. Corporate research labs working in telecommunications and biotechnology have turned the region around Princeton into a tech Mecca that supports jobs in business administration, accounting, marketing, HR management, finance and more.
The Jersey Shore is one of the most iconic tourist destinations in the U.S. and is responsible for an estimated $2 billion in revenue every year. However, that is just one small part of New Jersey’s $38 billion annual tourism industry, the largest contributor to the state’s 2014 GSP (Gross State Product) of $465.5 billion.
However, while it might be a huge money maker for the state, the tourism industry pales in comparison to technology companies as an employer. Small New Jersey firms alone employ 137,000 people in the professional scientific and technological services industry, compared to 60,000 employed in accommodation, entertainment, and recreation services. Nearly 333 million people are employed in New Jersey-based private technology firms over all, making it the second largest industry in the state based on employment according to the U.S. Small Business Administration (SBA).
The only industry that employs more people is the health care and social assistance industry, which is overall the largest industry for employment in the U.S. according to the SBA.
New Jersey’s Contribution to International Trade and Commerce
Bayonne sits at the terminus of pipelines originating in Texas and Oklahoma, making New Jersey one of the most important states for oil refining in the U.S. This, coupled with the success of New Jersey’s technology companies has helped New Jersey to make a huge impact on international trade.
New Jersey exports $37 billion in goods to foreign markets every year, supporting lucrative positions for international business specialists, logistics and distribution managers and more. Finished goods and raw materials leaving New Jersey and bound for foreign markets around the world account for approximately 2.6 percent of all international exports from the United States. The largest of these are:
- Petroleum – $2.8 billion
- Jewelry and Precious Metals -$ 1.06 billion
- Palladium – $885 million
The U.S. Census Bureau estimates that over 60 percent of New Jersey’s other exports are service exports related to the output of technology companies based in the state.
The Silberman College of Business at Fairleigh Dickinson University was named by The Princeton Review as one of “The Best 296 Business Schools.” The school offers a number of approaches for earning a Master of Business Administration (MBA), including a traditional MBA (an on-campus program with an international focus) and a part-time MBA, called the Saturday MBA@FDU. This latter blends on-campus classes every other Saturday with online studies. The college’s offerings are rounded out by the fast track MBA program, which requires an intense 15 months of study, and the MBA for Executives, tailored for mid-level professionals with high leadership potential. All of these programs are accredited by the Association to Advance Collegiate Schools of Business (AACSB).
Seton Hall is home to the Stillman School of Business, an AACSB-accredited institution that ranks among The Princeton Review’s best business schools. Their primary MBA offering is the Streamlined MBA, which can be completed in as few as 42 hours, versus the more common 60 hours. Most MBA candidates work full time and balance studying with a busy schedule. You can specialize in accounting, finance, information technology management, international business, general management, marketing, supply chain management or sports management. The school also offers dual degree programs that combine a Juris Doctor, Master of Science in Nursing or a master’s degree in diplomacy and international relations with an MBA.
Rutgers’ Business School offers an intense, hands-on program with an entrepreneurial and collaborative focus. Students work on real-world projects with their professors, classmates and an active network of alumni. The school hosts a strong recruiting program with top global companies in the area, and ranks in the top 30 MBA programs nationwide in terms of employment prospects. You can pursue a traditional MBA full time on campus or opt for the Flex MBA, which allows you to study part time with a choice of an extended or customized concentration. The Executive MBA at Rutgers is designed for ambitious professionals looking to ramp up their careers. The program is internationally recognized and earns top rankings for curriculum, network and return on investment.
This state institution offers a rigorous online MBA program that can be pursued at a faster rate for completion within 18 months. The flexible format runs in eight-week cycles, combining live participation in virtual class sessions with online course work. The program is geared toward working adults who do not want to interrupt their careers for an on-campus program. In addition to courses in general management, the school offers concentrations in finance, data analytics, marketing and health care management. Many of the students in the program bring significant work experience to their studies and are able to satisfy prerequisite requirements by earning credits for what they already know.
The New Jersey Institute of Technology’s School of Management MBA program has a 48 hour curriculum that focuses on today’s technology-driven business environment. Students examine leading trends in the changing business world while avoiding fads. You can study full time on campus, or take advantage of part-time evening and weekend classes and distance learning options. Available concentrations include management information systems, marketing and finance. The program is AACSB accredited and was named a top 10 research center of management of technology by the journal Product Innovation Management.