Choosing the Best MBA: Philadelphia vs. Washington DC
On the surface, cities like Philadelphia and Washington DC appear to have a lot in common. Both have occupied roles as a center of U.S. history, and have transformed into exciting and ever-changing metros for both established businesses and new startups. If you’re interested in earning an MBA in a top metro area on the East Coast, it might seem impossible to choose between the two.
Even so, Philadelphia and DC offer a number of exciting—but different—kinds of opportunities for up-and-coming business professionals. Between what program you want to pursue and what kind of career you envision yourself in down the line, understanding the differences between top metros can be a crucial part of planning your future. Below, we’ll break down some of the biggest differences in location, programs, and job placement for each metro.
Philadelphia vs. Washington DC: The Differences
For ambitious business students hoping to put their education to work in a government agency, it’ll be hard to beat the nation’s capital for opportunities and experience. Even for those looking outside of the government setting, the DC metro area is home to fifteen companies on the Fortune 500 list, including corporate giants like Exxon Mobile and Walmart. Yet while such heavy hitting companies in the area provide a high earning potential, MBAs will still want to consider the high price of living in DC: currently, the city ranks as the third most expensive place to live in the country.
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While Philadelphia may not be the city that pops into your mind as a bustling center of business, research shows the City of Brotherly Love can’t be beat when considering the job market and affordability: a 2016 survey from Adobo found that Philadelphia’s unemployment rate was 20 basis points below the national average, while the average price of a home was at or below 30 percent of the average income. MBA graduates will find no shortage of business opportunities in the city, even among major firms: in 2017, 20 companies in the Philadelphia metro made the Fortune 500 list.
Washington DC’s Full-Time MBA Programs
Featuring more than 35 higher education institutions with post-bachelor business programs, Washington DC is home to some of the top MBA programs in the United States. Fully aware that many of these programs will shape future politicians and government leaders, many of the MBA programs in Washington DC include a focus on integrity and ethics within the global business community.
Full-Time MBA Programs in DC Include:
- George Mason University School of Business
- George Washington University School of Business
- Kogod School of Business – American University
- University of Maryland R.H. Smith School of Business
- McDonough School of Business – Georgetown University
Philadelphia’s Full-Time MBA Programs
When it comes to business schools, Philadelphia is probably best known for The Wharton School at the University of Pennsylvania, consistently named as one of the top business programs in the world. But Philly is also home to a wide range of programs with a variety of specializations. Programs like the full-time MBA at Temple University’s Fox School of Business also offer students to take their education beyond Philadelphia, with international campuses based in Italy, London, and Japan.
Full-Time MBA Programs in Philadelphia Include:
- La Salle University
- LeBow College of Business – Drexel University
- Villanova School of Business
- West Chester University
Cost of MBA Programs
Just as important a factor as cost of living, average cost for an MBA program is an important consideration when choosing where to earn your degree. As expected, top programs in both Philadelphia and Washington DC can come with a high price tag. The average cost estimate for one year at Wharton is $105,265, while tuition at DC’s Georgetown McDonough School of Business is $90,591. The average for each city, however, remains much for affordable: approximately $82,090 for programs in Washington DC, and slightly lower in Philadelphia—schools like West Chester even offer an MBA as low as $21,000 per year.
Job Placement and Salary
With so many incredible companies located in both Washington DC and Philadelphia, MBAs have the chance to earn top salaries that can go a long way in both cities. Depending on the position, MBAs in Philadelphia can make anywhere from $64,665 per year (as a financial analyst) to $104,186 per year (as a senior product manager). In Washington DC, the average salary for an MBA graduate is in the $80,000 range, with employees reporting yearly salaries of $74,758 (operations manager) up to $111,983 (marketing director).
Smeal Alum Kimberlee MacMullan Named Penn State SBDC Director
Earlier this month, it was announced by the Smeall College of Business at Penn State University that Kimberlee MacMullan will be taking over as Director for the Penn State Small Business Development Center (SBDC). Though MacM
Kimberlee MacMullan/Photo via Penn State.
ullan’s job at Penn State is a long way from her previous position on the other side of the country, where she served as CEO for the Hermosa Beach Chamber of Commerce and Visitor’s Bureau, she is no stranger to the Philadelphia metro. In fact, MacMullan earned her bachelors degree in Marketing at Penn State’s Smeal College of Business, and went on to pursue her MBA at the Villanova School of Business.
The SBDC is a resource wherein students and community members can take advantage of one-on-one confidential business consulting and seminars at any stage of their business’s development. The center is located in State College, in central PA. After the announcement, MacMullan spoke enthusiastically about her ambitions for the SBDC.
“We have the talent and expertise to provide cutting-edge guidance to business owners, regardless of the industry,” MacMullan said. “My goal for the Penn State SBDC is to ensure we deliver that expertise in a consistent manner and continue to expand education and engagement with the community. I love vesting in someone’s effort when they are motivated, determined, and focused, and part of our job is to enable those traits in the potential entrepreneurs seeking out resources.”
MacMullan brings over 20 years of experience in executive roles and business planning to her position at the SBDC. Her experience includes working at DIRECTV and various film studios in Los Angeles, as well as consulting for Villanova’s SBDC.
“SBDCs are strong supporters of business growth and development and we are proud to have an experienced professional such as Ms. MacMullan join our program,” said Christian Conroy, Pennsylvania SBDC State Director.
KPMG Master of Accounting Program Arrives at Terry College of Business
A new partnership between the University of Georgia – Terry College of Business and personal finance firm KPMG will give accounting students the chance to participate in a one-of-a-kind program that prepares them for the digital marketplace.
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VSB Dean Explains Critical Thinking
Villanova School of Business Dean Patrick Maggitti recently published an article for US News & World report on the importance of critical thinking when looking for employees. He refers to a study done by indeed.com that states that since 2009, mentions of critical thinking have doubled in job postings. Dean Maggitti explains what being able to think critically really means and how students can be sure that they are learning the skills that are necessary to become critical thinkers in the work force after business school.
Maggitti gives readers three critical thinking skills that business school graduates need to be attractive to employers. He explains that although companies are looking for critical thinkers, that is only a portion of the higher skill to create new solutions. “It is far easier to be the art critic than the artist. Yet the first step in becoming a great artist is being able to look with a critical eye upon what has already been created,” he explains.
Villanova Alumnus Invited to Bloomberg Hall of Fame for High BAT Score
Villanova School of Business alumnus, Michael Breault ’15, has been invited into the Bloomberg Institute Hall of Fame after earning the fourth highest score in the Americas region on the Bloomberg Aptitude Test (BAT). The Bloomberg Aptitude Test is a tool developed by Bloomberg that helps students and recent graduates to connect with financial employers worldwide. Those who complete the BAT can prove their strengths in areas ranging from finance to business and personal competencies.
After completing the test, students can enter scores in the BAT Talent Search. The BAT Talent Search is a tool used by employers to help them to identify the best candidates for entry-level business positions. Employers can then view the submitted student profiles anonymously and have the opportunity to contact the students who have testing profiles that are complementary to the employer’s available career opportunities.
