Dec 6, 2017

3 Washington DC Nonprofit MBA Programs You Need To Know

Washington DC Nonprofit MBAs

It’s fair to say that the finance and consulting industries are the most popular for business school grads. But what about non-profits and social enterprises—where do they rank? While some assume that an MBA and working for a nonprofit do not go hand-in-hand, that’s not the case.

According to Fast Company, the nonprofit sector is the third-largest segment of the U.S. workforce, employing more than 13.7 million people at 1.8 million organizations, accounting for 10 percent of the country’s total workforce. The sector is the seventh-largest economy in the world—with combined assets of nearly $3 trillion, the U.S. nonprofit sector is larger than the economies of Brazil and Russia, and its neighbor to the north is taking notice. According to Nonprofit HR, in 2015, 50 percent of nonprofits were hiring compared to just 34 percent of for-profits. Nonprofit wages have also increased by 29 percent between 2000-10 and continue to rise, and exciting jobs in the sector are perfect for MBAs.

Some schools run entire centers and initiatives dedicated to the idea of social change. Other schools offer social entrepreneurship coursework, concentrations and graduate certificates with their MBA program. Here’s our rundown of three nonprofit MBAs in the Washington DC metro.

George Washington University School of Business

Students enrolled in the GWSB MBA program may combine their advanced business degree with a graduate-level certificate. One certificate program offered by the school is the Graduate Certificate in Nonprofit Management. This program is intended for students hoping to advance their careers in the nonprofit sector, as well as students who want to expand their knowledge but who do not want to commit to a master’s degree program.

The certificate requires that students complete 12 credit hours and maintain at least a 3.0 grade point average in order to be awarded the Graduate Certificate. Sample coursework includes:

  • PPPA 6031 – Governing and Managing Nonprofit Organizations
  • PPPA 6032 – Managing Fund Raising and Philanthropy
  • PPPA 6016 – Public and Nonprofit Program Evaluation
  • PPPA 6033 – Nonprofit Enterprise
  • PPPA 6034 – Managing Nonprofit Boards
  • PPPA 6053 – Financial Management for Public, Nonprofit, and Health Organizations
  • PPPA 6058 – International Development NGO Management

The Graduate Certificate in Nonprofit Management program is available at the George Washington University’s main campus in downtown Washington DC.. Certificate students enroll in regular courses of the Trachtenberg School and earn graduate credit. Regular graduate tuition and fees apply.

Kogod School of Business – American University

The Kogod School of Business at American University also offers a Graduate Certificate in Nonprofit Management. According to the school, the certificate provides those currently working in the nonprofit sector a program combining both academic rigor and skill set training to enhance their performance in this growing work sector, as well as a foundation for master’s degree students about to enter the field.

The certificate program requires 18 credit hours of approved coursework with at least 9 credit hours at or above the 600-level and encompasses course offerings from the School of Public Affairs, the Kogod School of Business, and the School of Communication, as well as select coursework from the School of International Service and the College of Arts and Sciences.

Sample coursework includes:

  • ACCT-607 – Financial Accounting
  • FIN-630 – Financial Analysis of the Firm: Concepts and Applications
  • COMM-642 – Strategic Communication Management
  • MGMT-609 – Management of Organizations and Human Capital
  • MGMT-633 – Leading People and Organizations
  • PUAD-681 – Managing Nonprofit Organizations

University of Maryland R.H. Smith School of Business

The UMD Smith Dingman Center of Entrepreneurship and Center for Social Value Creation offer several different venues and opportunities for students to explore social entrepreneurship. According to the school, the Center for Social Value Creation was founded in 2009 and aims to educate, engage and empower Smith students to employ business principles that help not just the bottom line, but also the world. You can learn more about the UMD Smith Center for Social Value Creation here.

Students can pitch business ideas with a social mission through the Center’s Pitch Dingman program, or receive support and resources for their own social enterprises. The Center for Social Value Creation offers graduate coursework in social entrepreneurship at both the undergraduate and graduate levels, and leads Social Innovation Fellows, a one-year program that gives Smith School undergraduate students hands-on opportunities to seek innovative solutions for social and environmental challenges through the application of business principles.

To learn more about using your MBA for a nonprofit career, take a look at our “Should MBAs Work in the Nonprofit Sector” post. Check out our list of the top 10 nonprofit MBA programs in the country for even more options and information.

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Dec 6, 2017

Chicago Booth Professor Anil Kashyap Honored By Japanese Government

Last month, University of Chicago Booth School of Business professor Anil Kashyap received the Order of the Rising Sun, Gold Rays with Neck Ribbon award by the Japanese government. This prestigious award honors the renowned economist’s distinguished achievements and contributions to Japan.

Kashyap was honored for the significant role he played in promoting and disseminating high quality research on the Japanese financial system and economic policies. According to the school, he coordinated conferences bringing together Japanese and American researchers in partnership with the Economic and Social Research Institute, the think-tank under the Cabinet Office of Japan.

“It has been an honor and a privilege to work with the Cabinet office on these conferences. They have generated many good research papers, forged some collaborations and hopefully have helped with the policy process,” Kashyap said after receiving the award.

The Order of the Rising Sun was originally established in 1875 by Japanese Emperor Meiji as the first national decoration awarded by the Japanese government. However, a modern version has been awarded to non-Japanese recipients since 1981.

Today the award honors individuals who have made significant contributions to international relations, promotion of Japanese culture, advancements in their field, development in welfare, as well as preservation of the environment. Kashyap was among 149 foreign recipients of the award this year.

Anil Kashyap/Photo via Chicago Booth

Prior to joining the Chicago Booth faculty in 1991, Kashyap spent three years as an economist for the Board of Governors for the Federal Reserve System. In addition to his exploits in Japan, he is on the Board of Directors of the Bank of Italy’s Einuadi Institute of Economics and Finance, is a member of the Squam Lake Group, and serves on the International Monetary Fund’s Advisory Group on the development of a macro-prudential policy framework. Since 2016 he has been an external member of the Bank of England’s Financial Policy Committee.

Kashyap is currently the Edward Eagle Brown Professor of Economics and Finance at Chicago Booth. His research has won him numerous other awards, including a Sloan Research Fellowship, the Nikkei Prize for Excellent Books in Economic Sciences, and a Senior Houblon-Norman Fellowship from the Bank of England.

Kashyap also currently works as a consultant for the Federal Reserve Bank of Chicago, and serves as a member of the Economic Advisory Panel of the Federal Reserve Bank of New York, and as a Research Associate for the National Bureau of Economic Research.

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Dec 5, 2017

UC Irvine FEMBA Students Visit Spain as Part of International Residency

UC Irvine FEMBA Students

A group of 30 Fully-Employed MBA (FEMBA) students from the Paul Merage School of Business recently traveled to Spain for their International Residential. The group, led by Professors Connie Pechmann and William Hernandez, toured the Spanish cities of Madrid, Santander, and Bilbao, visited with a number of different companies, and experienced an authentic cultural experience. Some of the trip’s highlights included visits to the corporate headquarters of Banco Santander and SENER.

Located in Santander, Banco Santander originated in the Spanish city but has since expanded to operate in Europe, Latin America, North America, and Asia.

“I was extremely impressed with the [Banco Santander] speaker’s knowledge and business prowess,” said Christopher Adams, ’18. “After this experience, most of the students are craving a west coast expansion by the bank and some way to work for this organization. What an unbelievable and exclusive experience.”

In Bilbao, the group visited Grupo SENER, which is a global engineering and construction company. “Their innovative value proposition of differentiation at higher value was clear,” said Bita Hosseini, ’18. “But, what was shocking to me was their ability to facilitate cross-functional collaboration with both public and private experts as they transformed more into a manufacturing strategy rather than a services strategy, similar to GE. Learning about various solar panel plants and the mix of science and business was eye opening.”

The MBAs also spent time studying at the University of Cantabria where they learned how business was conducted in Spain. The students participated in lectures that covered topics such as economics, law, sustainability strategies, and corporate governance.

All FEMBA students have the opportunity to participate in an International Residential. This one-week residential is a rare, firsthand opportunity to learn about the socio-economic, cultural, and political issues faced by businesses outside the United States. Other recent trips have been to major cities in China, and have focused on how the country became a dominant political and economic force throughout Asia. You can learn more about the FEMBA program here.

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Dec 5, 2017

Hiring Practices Examined in New UMD Smith Research

UMD Smith hiring research

Did you know that about half of job openings go to friends and acquaintances of high-powered individuals within an organization? We’ve always been told it’s about who you know, not what you know, after all.

Yes, referral-based hiring come across as a little sketchy, but many human resource departments actually encourage the strategy. But despite that, a research paper co-written by two Robert H. Smith School of Business scholars shows that hiring managers invite harsh moral judgments when they give jobs to friends and acquaintances referred to them.

Entitled “Compromised Ethics in Hiring Processes? How Referrers’ Power Affects Employees’ Reactions to Referral Practices,” the author’s note; “When the referrer is powerful, observers will believe the hiring manager is attempting to increase the referrer’s dependence on him/her, ultimately resulting in future benefits for the hiring manager.”

The research was authored by UMD Smith professor Rellie Derfler-Rozin, Ph.D. candidate Bradford Baker, and Harvard Business School professor Francesca Gino and published in the Academy of Management Journal. They found that hiring managers appear self-serving and unethical to others in the organization, which can disrupt workplace chemistry and even hurt support for the new hire.

“Referral practices can be seen as morally murky territory in which special interests and the exchange of favors dominate, above and beyond merit,” the authors wrote.

However, they also found that referral-based hiring practices have advantages: Not only do referrers usually have inside information about the applicants they recommend, but they also have incentives to train, mentor, and monitor them as well. Additionally, new hires want to perform well so they don’t embarrass the referrers who put trust in them.

Ultimately, the research does not suggest that companies should stop referral-based hiring, but that hiring managers and the people who give referrals should be mindful of the power dynamics involved.

“One suggestion could be creating a system in which referrers are anonymous, at least for an initial period of time pre and post-hire, while simultaneously providing enhanced transparency regarding the reasons for the referral,” the authors write.

You can read the entire research paper “Compromised Ethics in Hiring Processes? How Referrers’ Power Affects Employees’ Reactions to Referral Practices” here.

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Dec 4, 2017

Tuition Cost vs. Starting Salary: Atlanta

Atlanta MBA Return on Investment

One of the most important things a prospective MBA can look for when choosing a business school is the program’s return on investment. Return on investment, or ROI, is the most common profitability ratio, and an easy way to determine if an MBA is “worth” your time and money.

According to a recent review of 129 schools from U.S. News & World Report, graduates from a third of the institutions earned an average starting salary and bonus of more than $100,000, with the overall average for all schools coming in at $91,940. MBA Class of 2015 graduates typically left school with just over $50,054 in debt, according to the same data.

Most business schools publish employment records with average salaries for different industries, so prospective MBA students can use these numbers to project future salaries. Lucky for you, we’ve compiled these figures some of the Atlanta metro‘s premiere business schools.

The Atlanta MBA Return on Investment

Clark Atlanta University School of Business

A full-time MBA at the Clark Atlanta School of Business requires 60 credit hours of study, which totals up to $53,220 in tuition. Other costs also apply, including $1,008 in annual fees as well as books and supplies. To save some money for sibling students, Clark offers a Sibling Discount to a biological or legally adopted sibling currently enrolled at Clark Atlanta University. Siblings will receive a 33.3 percent discount after submitting a copy of both birth certificates, parent’s federal tax return and a simple application.

According to employment statistics provided by the school, MBA graduates earn an average base salary of $79,000 with a signing bonus of $12,250. Most graduates took marketing/sales jobs (59.7 percent), with finance/accounting (29.7 percent), human resources (7.4 percent), and operations (7.4 percent) following behind. In order to help place MBAs, the Atlanta University Center Consortium Career Planning and Placement Service (AUCC CPPS) offers students career planning and placement resources, plans on-campus recruiting events and hosts a database of contact information for over 1400 corporate, government and educational partners. They also host several on-campus recruiting sessions and career fairs.

Eugene W. Stetson School of Business & Economics – Mercer University

Full-time MBAs at Mercer’s Eugene W. Stetson School of Business & Economics pay $818 per credit hour, with total tuition for the program coming to $29,448 with some additional minimal costs, such as a technology fee. Students can visit the university’s Office of Student Financial Planning to receive updated financial assistance information, including information on federal student loan programs.

According to U.S. News, Mercer MBAs earn an average base salary of $57,500, with 23.8 percent of full-time graduates employed at the time of graduation. Mercer students can visit the Office of Career Management Services on the Macon or Atlanta Campus to receive specialized career guidance, job search, internship search, résumé and cover letter assistance, developing personal brand information, interviewing information, and salary negotiating.

Goizueta Business School – Emory University

Students enrolled in Emory University’s Goizueta Business School two-year, full-time MBA program pay a base tuition of $59,000 per year, while those enrolled in the one-year program pay about $89,500. These cost account for tuition only, so students must consider additional expenses for textbooks and other fees. To offset some of these costs, financial assistance is available in the form of Federal Stafford Loans, graduate plus loans, private loans, international student loans, research and assistantships, merit-based scholarships, fellowships from the Goizueta Business Fund for Excellence and fellowships at various constituent centers.

According to Goizueta’s most recent MBA employment report, the school’s alumni are among the top for post-graduate employment nationwide, with nearly 95 percent of students receiving job offers within three months after graduating and an average full-time base salary of $113,295. Goizueta Business School’s Career Management Center (CMC) offers assistance to full-time MBAs in their job search. Students can receive professional development and interview training within both core and elective courses, preparing students for both the internship and job search processes. Most Emory MBAs were offered post-graduate employment following an internship (56 percent), with another 19 percent getting job offers thanks to School Scheduled Interviews.

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Scheller College of Business – Georgia Institute of Technology

Tuition costs for Georgia Tech Scheller College of Business full-time MBA students are about $29,232 a year for Georgia residents or $40,180 a year for out-of-state residents, as well as $2,010 in mandatory fees. Financial assistance is available in the form of federal loans, graduate assistantships, and a limited number of fellowships.

According to the school’s MBA Compensation Overview, 95 percent of Scheller MBAs are employed within three months of graduation. These students are paid an average starting salary of $108,088. Meanwhile, 90 percent of graduates earn a signing bonus, which average to the amount of $15,830. Scheller MBA students are guided along the path to employment at the Jones MBA Career Center, where they learn about opportunities for internships and employment through one-on-one advisement, an eight-week career development workshop, self-assessment tools, interview preparation, and a series of conferences and career fairs

Terry College of Business – University of Georgia

Terrt’s in-state students pay about $15,670 in annual tuition, including student fees, for the Terry College of Business‘ full-time MBA. Non-residents pay $34,378 per year, including student fees. The school also awards approximately one-third of its students with graduate assistantships to help make the program even more affordable. Some students may have their tuition drastically reduced per semester, get 40 percent of their student health insurance premiums paid by UGS, and receive a monthly stipend for working 13 hours per week in the Terry College of Business. Additional scholarships are also available, such as the Terry MBA Leadership Scholarship. Given out during the spring semester, the scholarship awards between $1,000 to $2,000 to a student who has shown promising leadership skills.

According to the school’s MBA Employment Statistics, 90 percent of University of Georgia full-time MBA students receive a job offer within three months of graduating with an averaging starting salary near $90,250. Terry helps its students gain employment at the MBA Career Management Center (CMC), which helps students and graduates connect with networking events, information sessions, interviews, and much more.

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Nov 29, 2017

Georgetown McDonough MBAs Launch HoyAnalytics Club

HoyAnalytics Club

A group of Evening MBA students at the Georgetown University McDonough School of Business recently launched HoyAnalytics—a student organization focusing on statistics and data analytics. Though the club is is pending official sponsorship by the MBA Program Office, it has drawn a lot of interest in the McDonough School of Business.

According to the McDonough School, HoyAlytics is the first club organized by Evening MBA students. The organization’s board is made up of both full-time and Evening program students, and was created with unifying the two MBA programs in mind.

But the organization’s two main objectives are to create a community for those interested in statistics and analytics, as well as help those who are not already data-savvy gain quantitative skills. As statistics and analytics have become prevalent in more and more industries, HoyAlytics hopes to prepare MBAs for their careers.

“The club is on the cutting edge,” said Kenny Tan (MBA’19), one of the HoyAlytics founders. “Students are taking it in their own hands to make things happen.”

According to McDonough, the club recently held a free Excel workshop with nearly 40 full-time and Evening MBA students in attendance, and plans to continue holding workshops to teach different skills and software, such as Tableau, SAS, R, and SQL, as well as inviting guest speakers.

Student organizations and clubs generally provide great networking and professional benefits, such as access to industry leaders, professional development opportunities and the ability to make a real impact. A U.S. News & World Report list describes the following as reasons why it’s a good decision to get involved in a club in college:

  • It allows students to become connected to their school
  • It helps them build community
  • It allows them to discover their passions and strengths
  • It’s a résumé builder
  • Sometimes, busier people do better
  • Utilize your school’s resources

Check out some of the coolest MBA clubs and student organization’s in the Washington DC Metro here.

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