What Can You Do With an MBA in Maryland
If you’re interested in pursuing a professional career in management, finance, entrepreneurship, or any other business-related field in Maryland, you may be considering your next steps. Choosing to pursue a master of business administration (MBA) is a big choice. You’ll need to search for the right business school program, find all the info you can on their courses and class content, figure out what you’ll need in terms of what’s required for admission, and decide if the costs and the return on investment are worth it.
You’ll often find that, in today’s competitive landscape, a general MBA can be a stepping stone toward a rewarding and lucrative career. MBA holders graduate with a wider array of opportunities than those who completed only an undergraduate degree. And, unlike degrees with highly specialized learning and academic focus, you can work in roles across many fields. MBA graduates often pursue work in accounting, IT, operations, health administration, or human resources.Read More
In addition to giving you the opportunity to access to a variety of industries, MBAs often lead professionals to roles that pay high salaries, as they are considered leaders in their field. While the benefits make an MBA seem like an obvious next step, some working professionals might feel as though pursuing an advanced degree isn’t compatible with their lifestyle. If you’re already working in an office and have other responsibilities in your life, between your social and family obligations, this is understandable. When would you study?
The benefit of an online MBA program is that it is designed for applicants just like you, you can find one that fits your schedule and have the ability to work on assignments from work, home, or your favorite coffee shop. There are at least three systems colleges use, including 100% online programs that are full- or part-time, a dual degree program to shorten your path if you’re looking to earn multiple graduate degrees, and hybrid programs that have short campus visits offered to encourage networking with your community. While working on your MBA from home sounds like an easier path than heading back to school, keep in mind that online MBAs are still a significant commitment.
It’s also worth pointing out that you may want to consider online MBAs from institutions in your area. Some schools have short residency requirements, even for online students. You’ll also be closer to in-person events, lectures, networking opportunities, and other resources available to those within a reasonable distance. This could be a boon, even though you could technically attend from anywhere in the U.S.
Best MBA Programs in Maryland
You have many great options for MBA colleges in Maryland, our ranked list of the best MBA programs can help you narrow down your choices.
|Loyola University Maryland||Location
|University of Maryland-College Park||Location
College Park, MD
|Johns Hopkins University||Location
|Capitol Technology University||Location
|Frostburg State University||Location
Towson , MD
|Mount St. Mary's University||Location
|University of Baltimore||Location
|Washington Adventist University||Location
Takoma Park, MD
|Morgan State University||Location
|Bowie State University||Location
Why Consider an Online MBA?
Not only do online MBAs provide the same level of rigor as their traditional campus-based counterparts, but they also have some distinct advantages. Whether you’re caring for a family, working full-time, or live far away from a suitable program, there are many reasons to take to the web for your next big career move.
MBAs are a popular choice for working professionals who wish to boost their earning potential. That said, attending classes in person isn’t always feasible. Online MBAs allow you to keep working while you level up your skillsets with courses in innovation, communication, or analytics. You still won’t want to skip classes, but attending is as simple as logging into their site and earning your credit hours one day at a time.
Not all employers require an MBA, and its ability to boost your earning potential has a lot to do with your industry. Financial professionals, for example, benefit a great deal from having the credential, as do those pursuing their dreams of the C-suites. Marketers and entrepreneurs can also get a lot of value from an MBA program but, in many cases, these professionals earnings increases center on their ability to get results. Still, an MBA provides a strong background in business basics, management, finance, and strategy, which come into play no matter what you pursue.
Maryland MBA holders are also bound to see some edge in a competitive job market, especially if they want to leap to mid or upper management. In some cases, having an MBA allows you to bypass years of experience or training that someone with a bachelor’s degree would need to qualify for job offers. Professionals with an MBA typically make more money than their counterparts without one. In some cases, companies require master’s level degrees for those employees who wish to advance. Or, a company might cap earning potential.
For this reason, current professionals interested in applying for leadership roles or changing their careers should strongly consider enrolling in an online MBA. This type of degree makes graduates extremely marketable because it covers basic business, finance, and management techniques. The knowledge and skills developed throughout the program will be useful regardless of your specific career plans and goals.
Many people also pursue an online degree because they want to keep working full-time, are taking care of children, or simply prefer the self-guided nature of online coursework. Of course, earning an MBA doesn’t necessarily mean you’re on the fast track for top-tier earning potential. An MBA may make you more attractive to employers, but you’ll still need to bring hard work, leadership skills, and a flexible management style to the table to succeed in the long run.
Percentage of Students Enrolled By Distance Education
Typical MBA Concentrations
- Healthcare Management
Healthcare is one of the biggest industries in Maryland—and the US. As such, this MBA stands to be a worthwhile investment. This program will look at healthcare from a business perspective and will include coursework focused on managing health organizations, marketing, strategy, policy, and more. Again, students can expect all the traditional core MBA coursework – but will learn to apply those business concepts to this highly specialized field.
- Supply Chain Management
An online MBA in supply chain management combines broad business foundations like economics and finance with a detailed knowledge of purchasing, logistics, and vendor management. MBA graduates will leave this program prepared for management positions in areas like purchasing, quality control, and warehouse management.
Finance is a practical MBA concentration in just about any state. Here, you’ll learn more about economics, management, and leadership, while diving deeper into the world of finance. Finance MBAs leave school prepared to work in any industry in a range of roles. Job prospects include controller, financial analyst, CFO, finance manager, and more.
An accounting MBA provides a foundation in accounting, as well as a solid business knowledge you can take just about anywhere. Along with coursework in subjects like marketing, finance, and economics, accounting concentration students will dive deeper into things like tax planning, business strategy, financial reporting, and managerial accounting.
Accreditation in Maryland
Unfortunately, one of the hardest parts about starting your research for the right MBA program for you is accreditation. This means that a school must meet certain criteria, demonstrating that the degree and the coursework follow established guidelines.
There are a few organizations that handle the accreditation process in Maryland. The most notable is the Association to Advance Collegiate Schools of Business (AACSB), which is an international organization that awards accreditation to schools that meet their rigorous standards. Not all Maryland MBA programs are AACSB accredited, and while it is the gold standard, it’s not the only marker of a quality program.
Your MBA should also have regional accreditation. Maryland schools are accredited by the Middle States Commission on Higher Education, which is one of six regional organizations recognized by the US Department of Education. Approval from this organization means you’re looking at a quality education from a reputable program—and credit hours can be transferred to other schools should you wish to relocate.
The value of your degree depends on whether your school is accredited. Programs that haven’t met certain standards are a waste of money, as most employers will not recognize this degree as valid. As such, this may be the most important part of your research. This ensures—and signals to employers that you have the appropriate skill set for the role
Career and Job Outlook for MBA Graduates
According to the Maryland Department of Labor, Maryland has gained a total of 56,800 new jobs from Jan 1, 2021 through August of 2021.
"The Professional and Business Services sector experienced the most growth with an increase of 5,700 jobs from the Professional, Scientific, and Technical Services (2,900), Administrative and Support and Waste Management and Remediation Services (2,700), and Management of Companies and Enterprises (100) subsectors."
"Other sectors that experienced growth include: Trade, Transportation, and Utilities (2,300); Leisure and Hospitality (1,900); Manufacturing (1,800); Financial Activities (1,200); and Mining, Logging, and Construction (500)."
Average Degree Salary Ranges Potential
MBA grads in Maryland should do better, compared to their peers with bachelor’s degrees or less or those with a non-MBA master’s degree. Because coursework prepares students for leadership roles, MBA grads are desirable candidates who bring decision-making skills, management know-how, and an analytical mindset to the table.
On average, MBA degree holders earn a median income of $75,896, though this number accounts for the full spectrum of occupations and career stages. An MBA can help you boost your income significantly, but you’ll need to look into various professions to learn which career path both aligns with your interests and promises the ROI you’re looking for.
That said, according to the Maryland Department of Labor, Licensing, and Regulation, mid-career business and management professionals earn a median income of about $158,000 per year. So, that initial figure may well be a starting point.
- Earnings with Associates - $46,124
- Earnings with Bachelors - $64,896
- Earnings with MBA - $77,844
Top Employers in the State by Number of Employees
|Company||Industry||Headquarters City||Number of Employees|
|Social Security Administration||Government||Baltimore||65,000|
|Laureate International Universities||Education||Baltimore||54,500|
Careers and Salaries for MBA Graduates in Maryland
As we mentioned in the above section, an MBA presents a wealth of options to Maryland degree holders. The degree is applicable to a broad range of positions that fall under the finance and management umbrella, but again, the degree presents a range of leadership opportunities that work just about anywhere.
- Human Resources Manager
This position is responsible for the employee recruitment process, hiring, and retention. In this role, you’ll develop policy and coordinate activities related to compensation, job performance, and budgeting within the department. An HR manager provides direction and counsel to management and supervises clerical staff and temporary employees.
- Healthcare Manager
Healthcare managers and administrators are responsible for managing finances and operations within a healthcare facility. In this role, you’ll manage employee schedules, budgeting, and work to ensure all services are carried out so that patients receive top-quality care. Additionally, this position requires keeping up with the latest compliance and regulatory requirements and finding ways to save money and increase satisfaction.
- Chief Executive Officer
The CEO is responsible for providing strategic leadership for the entire company. They’ll work closely with a board of directors and the rest of the executive management team to establish long-term strategies for growth. This person is held accountable for a company’s success and as such will need to manage revenue, policy, finance, and motivate the entire staff from top to bottom.
- Financial Analyst
A financial analyst can find employment in a variety of settings – the banking industry, in a top company, or as an independent consultant. Job duties typically consist of analyzing data sets to determine financial performance. They’ll provide companies with guidance for making purchasing and investment decisions and assess the performance of stocks, bonds, and other assets. Additionally, a financial analyst will spend a good deal of time creating plans and forecasts, then analyzing actual results against those predictions.
- Business Development Manager
Business development managers oversee business operations from the client side. They’ll work closely with marketing, sales, and customer service to identify opportunities for new business, as well as how to maintain relationships with existing clients. These professionals will be tasked with coming up with strategies that drive revenue, retention, and growth.
How to Choose & FAQ's
- Make sure the classes work with your schedule
One of the main reasons a student would seek out an online MBA is scheduling. Many online programs are self-paced, allowing students to complete coursework as needed. Other programs require meetings with faculty, events, and occasional on-site activity. Additional considerations are things like, whether the program will allow you to continue working full-time or take a break from your studies.
- Make sure your program is accredited
As we mentioned, you absolutely need to look at your prospective school’s accreditation status. A school with no accreditation will not help you accomplish your goals, as the degree doesn’t mean anything except that you’ve met some criteria that isn’t widely understood.
- What kind of resources are available to students?
The best online MBA programs offer the same resources to their remote students as their on-campus counterparts. Don’t enroll in a program that treats their online students as less than. Instead, make sure you have access to job fairs, MDntoring, career counseling, and opportunities to connect with alumni and peers.
- How is the support technology?
See if there’s a way to check out the school’s digital interface before you enroll. Your ability to turn in quality work depends on working technology and if the website is buggy, hard to use, or outdated, it might affect your performance.