Located in Georgetown, McDonough School of Business has rolled out MBA program which promises to offer its students a dual exposure of international commerce with a strong background in core business principles.
To further harness teamwork and help the students learn collaboration with each other; McDonough School of Business adopts a unique system in which it divides its selected candidates into a class of 60 students, creating a sense of teamwork and collaboration. These students then fine tune their skill sets interacting and learning with other until they reach a level in the course where they are ready to chose their electives which will help them specialize themselves in the desired career path.
Apart from this, McDonough School of Business has also opened the brand new Rafik B. Hariri business school building, through which McDonough is poised to expand its influence and steer future students toward success.
Admissions and Tuition:
As compared to its peers, McDonough School of Business has higher intake capacity of students. This however does not let the institute to compromise on selection procedure for the students. For the incoming class of 2011, McDonough admitted 649 students out of 1,760 applications; 251 student enrolled.
Candidates applying for a seat in the institute are required to meet certain criteria’s. The college demands an average GMAT score of 685 and the average GPA of 3.35. Alongside, the college does not end its requirements with the GMAT and GPA scores. It has its checks and balances on essays, grades, test scores, and recommendations. Thus students are expected to do well in those areas also. Work-ex is an additional requirement which applicants are supposed to bring with them. The college requires the students to have the students to have an average 52 working months working professionally.
Since international business forms a core offering of the institute, 2 4% of McDonough’s student base consists of Non-US residents who represent 41 countries across the world. Alongside, 63% of students have expertise in a second language, and 80% have experience living or working outside the US.
As far as the expenditure is concerned, tuition and fees for the 2009-2010 school year came to $43,982. Thus, the total cost of the program’s tuition came to $87,964, and the recommended annual budget is $67,820.
The institute has gone a step ahead to provide financial aid and scholarship program to the students. A total of 71% full time MBA candidates received financial aid for 2009-2010, and the average package stood at $21,470.
The candidates who apply for scholarship programs in McDonough School of Business are automatically considered for merit-based scholarships. However, they should note that it is advisable to apply as early as possible to receive first consideration. From the bunch of scholarship programs, the Connelly Scholars Program provides full tuition for the entire program to a select group of highly qualified candidates. The total funding amount which goes towards such scholarships programs generally cross $1.5 million in total.
Academics and Curriculum:
McDonough School of Business’ core strength lies in providing essential business theory and practice as specialized skills through elective classes.
The school year is divided into four modules of seven weeks each; elective classes begin in the third module and go on to dominate the second year curriculum. McDonough students can avail the benefit of their electives not only from their own institutes but also from the Georgetown Public Policy Institute, School of Foreign Service and Washington Metropolitan Area Consortium of Universities.
Each aspiring candidate can choose from four career options to meet their financial goals which consist of general management, marketing, consulting, or finance.
Just like other schools, the teaching method of this school does not focus on a single teacher-professor one on one relationship. The lecture is the dominant teaching method, covering 35% of the curriculum, followed by case study and team projects at 25% each, and experiential learning at 15%.
Along with the general curriculum, the institutions noticeable initiative is the International Business Diplomacy Certificate. The initiative allows students to work with the School of Foreign Service to attain international business diplomacy honors. Besides this, McDonough allows four dual degree programs which include working with Georgetown’s Medical School, Law Center, School of Foreign Service, and Graduate Public Policy Program.
Alongside, students can also complete four residency programs, which allows them to apply theoretical classroom knowledge to a variety of real-world situations. After August orientation, McDonough sets the program’s tone with the Georgetown Means Business residency. Students begin to specialize their skills and consider their future plans through the Career Track Immersion. Second year begins with the Leadership Residency, which provides multidimensional leadership training and lets them map out personalized strategies to lead their industries. Finally, the Global Residency, seen as the “capstone” of the MBA program, lets students work in teams to solve a company’s specific real-world issue, then travel abroad to directly present results.
Quality of Life:
Since McDonough School of Business is located in the national capital, students can take advantage of both Washington, D.C.’s dominance in politics and business as well its world-class cultural events.
Students have the chance to associate themselves with a vast array of national and international organizations, taking advantage of the widely spread opportunities that the capital provides. With a huge variety of student clubs and organizations, they can also get involved in numerous activities. These activities include solving problems for various D.C. companies through the MBA Consulting Corps to honing entrepreneurial skills in the Elevator Pitch Competition. With a huge variety of international business clubs and associations, students also build ties to enterprise across the globe. Events from guest speeches and career treks to Global Diversity Day and wine tastings allow students to develop both professionally and personally.
MBA candidates who are shaping their career path can chose to live in a variety of off-campus areas. These include the following D.D neighborhoods: Georgetown, Glover Park, Adams Morgan, U Street, and Dupont Circle, Arlington or Alexandria, Virginia amongst others. Rent can range widely by situation and location, from $850 for shared housing in Virginia to $4,000 for rental houses in D.C. proper. Public transportation is available through the Georgetown University Transportation Shuttle (GUTS), which offers free transportation with university ID over five routes. Further to this, D.C. Metrorail and Metrobus are also available, as is Arlington’s ART bus system.
Parking is made available at the Southwest Quad garage. However, it is better if one chooses public transportation in the busy capital metro area.
Although the college has its niche in the areas of international commerce it faces no scarcity when the placements are concerned. According to the statistics provided, 78% of graduates had accepted job offers by three months after graduation.
The top recruitment area was Finance/Accounting at 32%, followed by Consulting at 25%, Marketing/Sales at 20%, and General Management at 12%. Top recruiters included Citi, Booz Allen Hamilton, and Johnson & Johnson. The average base salary was $89,408 and the average signing bonus was $22,829.
Out of the total recruitments recorded by the McDonough School of Business, 53% of the placements were campus based while 40% came from individual student effort.
Through McDonough highlights its global business focus, 90% of graduates accepted jobs in North America, with 47% of those offers located in the Mid-Atlantic, 27% in the Northeast, 12% in the Midwest and 8% in the West. From this evidence, it seems that many globally focused graduates may, instead of choosing to live abroad, take jobs at companies with domestic locations in D.C. and New York.
The Office of MBA Career Management offers a variety of programs to assist students with career development. The students work with career coaches to tailor their verbal skills and resumes which help them attach the industry in a better manner. Treks to major US business centers, including New York, Atlanta, Philadelphia, and two D.C. events, give students the opportunity to network and interview within their fields. Collaborating with various employers and recruiters, Career Management helps students achieve their career goals.
All in all, Georgetown’s McDonough School of Business aims to dominate the global and international business education market aims to dominate the global and international business education market. However, it still has to make some progress before climbing through the top 20.
For students who wish to pursue international business in the Mid-Atlantic, particularly in Washington, D.C., McDonough proves to be a solid choice. The institute not only allows access to local networking but also helps in providing a solid core of business education.
McDonough School of Business
Rafik B. Hariri Building
37th and O Streets, NW
Washington , D.C. 20057 United States
2009 U.S. News Ranking: 19th
Average GMAT score: 678
Average undergraduate GPA: 3.35
Application fee: $175
Application deadline: scholarship deadline 3/25, final deadline 5/14
Entering class size: 251
Yearly Tuition: $41,952 (2009-2010)
Percent of graduates employed 3 months after graduation: 78%
Average starting salary: $89,408
Average signing bonus: $22,829