Industry is one of the essential variables that shapes and defines the culture of any American city. What would life in New York look like without Wall Street? LA without Hollywood? Houston without oil? And, of course, Washington, DC without the Federal Government?
According to data from Governing, more than 27.4% of the DC metro workforce consists of government employees. Historically, government has not been the go-to career path for MBA graduates; according to a Bloomberg.com article, only 5 percent of graduates at George Washington University School of Business took government jobs in 2012, compared with 19 percent in 2011. A Graduate Management Admission Council study cited by Monster.com reported that only 1.4% of 6,100 MBA students surveyed planned to pursue careers in government, post-graduation. But with less competition comes more opportunities, especially for socially conscious business school graduates.
Let’s take a look at DC’s 6 largest employers of MBA graduates.
The Department of Transportation was founded in 1966 to ensure “a fast, safe, efficient, accessible, and convenient transportation system that…enhances the quality of life of the American people, today and into the future.” Deputy Secretary Victor Mendez has an MBA from Arizona State. The DOT currently employs around 59,000 Americans.
The Department of Labor was founded in 1913 to “foster, promote, and develop the welfare of the wage earners, job seekers, and retirees of the United States; improve working conditions; advance opportunities for profitable employment; and assure work-related benefits and rights.” In addition to its paid summer MBA Internship Program, the DOL established its MBA Fellows program in 2002, in which participants are able to explore financial management, program analysis, human resources, and budgeting. The DOL currently employs around 17,000 Americans.
The U.S. Securities and Exchange Commission was founded in 1934 to “protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.” The SEC’s 10-week Summer Honors Business Program introduces MBA graduates to the “regulation of the securities markets and the work of the Commission…as they work with staff on several projects particular to the specific Division or Office to which they are assigned. Past presentations have included: An Overview of Federal Securities Laws; Securities Fraud on the Internet; The SEC’s Investigative Process; Mergers and Acquisitions; and The SEC’s Examination Program.” The SEC employs around 3,500 Americans.
The Office of the Comptroller of the Currency was founded in 1863 as an independent bureau within the The Department of the Treasury to “ensure that national banks and federal savings associations operate in a safe and sound manner, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations.” Both the OCC’s Bank Examiner Cooperative Education Program and Bank Examiner internships are wonderful resources for current MBA students interested in the nuts and bolts of our national banks.
The U.S. Postal Service was founded in 1775 so you could have next-day shipping on that commemorative Game of Thrones glass beer stein you ordered from Amazon last night at 2am. The USPS offers a full-time, 18-month Management Foundations Program, in which MBAs with concentrations in Engineering, Human Resources, Finance, Supply, Sales/Marketing, and IT will “participate in regular trainings with top USPS executives, gain valuable field experience, and cultivate professional networks.” Program participants are “eligible for promotion as long as you meet established performance goals.”
The Department of Commerce was founded in 1903 to “promote job creation and improved living standards for all Americans by creating an infrastructure that promotes economic growth, technological competitiveness, and sustainable development.” Secretary Penny Pritzker has an MBA from Stanford; Under Secretary for International Trade Stefan M. Selig has an MBA from Harvard; and CFO Ellen Herbst has an MBA from Wharton. The DOC currently employs around 44,000 Americans.