Finding the Best Return on Investment for Your MBA in Washington DC (Part II)
Washington DC is littered with powerful people and exciting opportunities. You could find yourself sitting next to the Fed Chair at the symphony and then running into a Senator at the bar later that evening. So, what better place to start your business education and career than the true seat of power for the entire Western World?
Before investing in an MBA it’s essential to make sure that the school you choose will give you the tools you need to excel in your industry without breaking the bank.
In our first installment to the Washington DC ROI series, we talked about the metro’s schools that give you the greatest bang for your buck. In part two, we delve into even more schools that have topped our list of programs that offer the best return on investment (ROI) for your MBA in DC.
The Best Washington DC Return on Investment (Part II)
Kogod School of Business—American University
With alumni who’ve gone on to positions such as CEO of Goldman Sachs and Executive VP of Turner Classic Movies, it is no secret that Kogod School of Business prepares its students for a range of highly coveted leadership positions. The average starting salary for MBAs is $78,556, which exceeds the $75,166 cost of tuition. Moreover, an average 88 percent MBAs receive job offers within three months of graduation. The full-time MBA is a 49-credit program that lasts for 21 months. Most of the courses are completed during the first year. Kogod’s program includes weekly Business Leadership Luncheons, wherein students can engage in personal conversations with senior executives from companies like Marriott International, IBM, and PayPal.
George Mason University School of Business
At the George Mason University School of Business, students can hone their leadership and management skills while gaining perspective on the intricacies of the ever-changing world of international business. Business school students at Mason can choose to take their classes at either the Arlington or Fairfax campus, both of which are easily accessible from Washington DC. For aspiring MBAs based in Virginia, Maryland, or the capital, this school’s return on investment is undeniable. Residents of the aforementioned areas pay a full tuition of $45,600, and the average salary for graduates is $86,000. Though the tuition is significantly higher for students from outside of Virginia, Maryland, and DC, at $84,072, the significant average salary still makes stellar choice. The 48-credit program involves an optional week-long global residency, offered once students complete the core curriculum. In the past, global residency locations have included places like Singapore, Buenos Aires, and Prague.
Check Out Part 1: Return on Investment – Getting Your Money’s Worth in Washington DC
McDonough School of Business—Georgetown
There is no denying the prestigious reputation of Georgetown’s McDonough School of Business, which was recently named by Forbes as one of 35 best business schools in the U.S. Students in this program have the opportunity to experience real-world work problems through the Global Business Experience, during which they consult with an international company. At the Global Business Conference in DC, students then present their projects to an audience of their peers. A Georgetown degree carries enormous weight, and in recent years the average starting salary for MBA grads has leapt to a remarkable $108,000. The Georgetown name, combined with rigorous curriculum, a prime location in the nation’s capital, and the undeniable financial success of its alumni make McDonough’s overall return on investment undeniable.
What Georgetown McDonough MBA Students Learn Outside the Classroom
What do Colin Powell, an Indiana dairy farm, the DC Department of Public Works, and a triathalon have in common? They are all part of the fabric that comprises life outside of the classroom for MBA students at Georgetown University’s McDonough School of Business. Sure, it makes sense to judge a business school on what takes place inside the classroom. But in skimming three seemingly unrelated recent news briefs from the school, we realized that taken together they help paint a picture of what life outside the classroom can look like.
Former Secretary of State Colin Powell Speaks
In September, the former U.S. Secretary of State and Chairman of the Joint Chiefs of Staff Colin Powell visited Georgetown McDonough to speak on the subject of leadership. He discussed his former military and government experience, as well as a turning point in his career: earning his MBA. The event was part of the Stanton Distinguished Leaders Series and was hosted by the McDonough Military Association, an MBA student club for military veterans.
Faculty, staff, alumni, and students were all invited to observe the conversation, which began with Powell touching on his MBA education. He shared with attendees about how his MBA—which he earned from George Washington University in 1971—enabled him to focus “on the more human elements of leadership,” explained the McDonough press release. He also talked about how he improved his management and leadership skills by gaining a better understanding of basic human psychology.
Powell then went on to speak about his career. He shared his experience of being pulled in a variety of different directions, including public service positions, telling audience members: “You serve where you are needed. This is what service is all about.”
Then, he went on to highlight what he views as essential components of effective leadership, namely helping others, stressing the human element of an organization, and building trust. He explained that he never tried to be an authority but to influence others, stating “leadership and followership are completely enmeshed.”
Finally, he touched on the importance of diversity. “We are a vibrant economy because of immigration,” he said. “We shouldn’t demonize anyone.” He talked about how diversity is important for leadership and for building a stronger America. The event ended with questions from audience members and drew praise from many in attendance.
As Prashant Malaviya, an Associate Professor of Marketing at McDonough, said on Twitter: “Honor and privilege to welcome Colin Powel to Georgetown McDonough. Amazing talk! Thank you!”
Hands-On Experience
Outside of learning from presentations and speakers, MBA students at McDonough also learn through hands-on opportunities such as a recent visit to Fair Oaks Farms, a sustainable dairy farm in Indiana, as well as a summer internship with the DC Department of Public Works (DPW).
The farm visit, which included 18 MBA students, was part of the course “Principled Leadership in Business and Society” taught by Associate Professor Ed Soule.
The trip was designed to help students learn more about sustainable business by seeing it in practice. Fair Oaks Farm is the sixth largest dairy cooperative in the nation and an agri-tourism destination owned by Sue and Mike McCloskey. While visiting, MBA students were able to see how the farm employed various practices and technologies to minimize its environmental footprint while maximizing the comfort level of the cows.
“It’s one thing to read a case about a sustainable business, but seeing it and meeting the people adds another dimension,” Soule said in a news release about the trip. “The other objective of the trip was for them to interface casually with the McCloskeys, to pose questions, and get a more nuanced understanding of the business.”
Second-year MBA student Emma Loughman called the farm an “epicenter of innovation” and said she enjoyed learning about the difference between organic and sustainable farming.
As for the internship with the DC DPW, two students—Paul LaCorte (MBA ’18) and Leo Dzidziguri (MBA ’18)—participated in the trial program between the department and Georgetown McDonough. Over the course of the hands-on, three-month experience, the students responded to a request by the city administrator to evaluate two critical areas: light vehicle repair turnaround and citywide compliance and preventative maintenance.
The internship required data collection, analysis, visualization, process mapping, site visits, and audits. “We were involved in projects that required knowledge from multiple fields,” Dzidziguri said in a news release. “For example, I performed statistical analysis on several years of data to identify reasons why the Fleet Management division could not meet its key performance indicators, while at the same time studying the operations and recommending a new map for more efficient processes.”
Extracurricular Fun and Fitness
Finally, no MBA program is complete without a bit of friendly competition. Early in September, three Georgetown MBA students participated in the 12th Annual Nation’s Triathlon. Hall Wang (MBA ’19), Taylor DeVoe (Evening MBA ’20), and James Hesburgh (MBA ’19) signed up for a 1,500-meter swim, 26.2-mile bike ride, and 10k run relay—respectively. This was an opportunity for the MBA students to meet outside the classroom and campus to explore their common interests.
In a short news brief on the school website, Wang described the triathlon as a relationship-building experience. “I like to think we showed what the Georgetown MBA experience is all about,” he said. “Regardless of cohort or program, we build relationships and partake in our community, one fun adventure at a time. Ours just started with a really early alarm clock and ended with some sore body parts, but now we have an exciting story to tell.”
This article has been edited and republished with permissions from Clear Admit.
McDonough MBAs Visit Fair Oaks Farms For First-Hand Look at Sustainable Business
Last month, 18 Georgetown McDonough School of Business MBAs visited a sustainable dairy farm as part of Associate Professor Ed Soule’s Principled Leadership in Business and Society course. According to a press release, the class visited Fair Oaks Farms in Fair Oaks, Indiana to get a first-hand look on how sustainable businesses work. Continue reading…
McDonough Dean Paul Almeida Delivers State of the School Address
Paul Almeida addressed faculty and staff at the annual State of the School event earlier this month. The newest dean of the McDonough School of Business discussed his vision for the school, as well as the future of business education, and commitment to interdisciplinary solutions. Continue reading…
Top MBA Recruiters: Finding A Role With PepsiCo
PepsiCo is one of the most well-known companies in the world. Known as a top manufacturer, marketer, and distributor of soft drinks and snack foods, the company also serves as a top recruiter of MBA talent in the United States. Continue reading…
One-On-One With New Georgetown McDonough Dean Paul Almeida
On August 1, the Georgetown University McDonough School of Business will welcome a new dean, Paul Almeida. Almeida is the current Deputy Dean of Executive Education and Innovation, as well as a Professor of Strategy and International Studies. When he takes his place as dean, Almeida will also become the William R. Berkley Chair.
In a press release, Georgetown University President John J. DeGioia spoke about the appointment: “Throughout his tenure at Georgetown, Paul has exemplified a commitment to principled leadership, instilling a global mindset focused on service to others into each program and project he oversees. I am deeply grateful for his willingness to serve our entire university community as dean of the McDonough School of Business.” Continue reading…
