Business Schools in Maryland
Surrounding much of Chesapeake Bay in the country’s Mid-Atlantic region, Maryland is often associated with the sea; it has a substantial commercial fishery and is especially famous for its large annual catch of blue crab. But go a little west of the ocean, past the two large metropolitan regions of Baltimore and Washington, DC, and you’ll find very different parts of Maryland. The long, thin stretch of land just south of the Mason-Dixon line takes you from the Atlantic basin, through the Piedmont plateau and into the heart of the Appalachian Mountains. Maryland is also a state rich in culture and history: one of the original 13 colonies, it is sometimes considered the birthplace of religious freedom in America. Its economy is diverse, including the above-mentioned fishing, agriculture, tourism, and manufacturing, supported by a large public sector due to the state’s proximity to Washington, DC. The state is also a leader in the burgeoning biotechnology field.
National Center for Educational Statistics (NCES) statistics show 24 public and non-profit institutions offering business degrees. An unusually large proportion of these, 19, offer accredited programs at the undergraduate level, but only 9 at the graduate level. Choosing an accredited school provides you with assurance that the program you select has clearly stated objectives and that the school has proven that its program produces quality outcomes while adhering to national and international standards. Accredited schools also typically offer ways to get real-world experience through interaction with actual businesses.
All of the schools in this article have been accredited by the Association to Advance Collegiate Schools of Business (AACSB), Accreditation Council for Business Schools and Programs (ACBSP), and/or International Accreditation Council for Business Education (IACBE). They are all public or non-profit and also regionally accredited by the Middle States Commission on Higher Education (MSCHE).
In this article you’ll find all the data you need to choose the ideal Maryland business school for your needs based on a variety of key factors: tuition, financial aid, entrance exam scores, acceptance rates, and more. The three sections that follow describe undergraduate programs, graduate schools, and the job prospects for business school graduates in Maryland.
Undergraduate Business Schools in Maryland
Given its relatively small size, Maryland offers a surprisingly wide variety of undergraduate business school options, with one of the widest tuition cost ranges of any state. The overall average undergraduate tuition cost in Maryland is about $17,300, which is moderate. The most expensive schools are Johns Hopkins University ($50,400) and Loyola University Maryland ($46,400), while the least expensive, Baltimore City Community College, costs just $2,600. The schools are essentially split into two groups by cost, with 13 at or near $10,000 and 5 at $33,000 or more, while one sort of falls in the middle (Capitol Technology University at $24,300). Average financial aid is a respectable $11,200.
We have acceptance rates for 15 of our 19 schools, and they are mostly moderate. The overall average is 56%, but this is weighed down by the 13% at Johns Hopkins, without which the number climbs to 59%, with no other school below 38%. There are 9 schools at 60% or higher, and 3 above 70%.
Graduation rates for undergraduate business degrees in Maryland tend to be low to moderate, with almost as much variation as tuition. The overall average for the 18 schools for which we have data is slightly over 50%, which is below the figure found in most states. The highest graduation rate is at Johns Hopkins (92.4%) while there are three schools below 20%: Coppin State University (17.4%), Baltimore City Community College (13%), and the University of Maryland University College (10.4%). The two best combinations of acceptance rate and graduation rate can be found at Loyola University Maryland (66% and 83% respectively) and Towson University (74% and 71%).
The table below shows you all the important data you need about undergraduate business schools in Maryland, including annual in-state tuition costs, average aid per student, acceptance rates, SAT and ACT score ranges of accepted students, and graduation rates. Click any column header to sort the table based on its contents.
|School||City||Tuition||Aid||Median SAT||Median ACT||Accept. Rate||Grad. Rate|
|Baltimore City Community College||Baltimore||$2,578||$2,981||13%|
|Bowie State University||Bowie||$7,880||$7,388||780-940||15-19||41%||37%|
|Capitol Technology University||Laurel||$24,272||$12,269||860-1160||19-26||88%||51%|
|College of Southern Maryland||La Plata||$6,288||$3,801||38%|
|Coppin State University||Baltimore||$7,438||$7,515||760-910||15-18||40%||17%|
|Frostburg State University||Frostburg||$8,702||$6,836||860-1070||18-24||63%||47%|
|Johns Hopkins University||Baltimore||$50,410||$34,632||1400-1570||32-34||13%||92%|
|Loyola University Maryland||Baltimore||$46,430||$25,848||66%||83%|
|Morgan State University||Baltimore||$7,636||$7,675||810-990||16-20||60%||32%|
|Mount St. Mary’s University||Emmitsburg||$39,000||$21,169||940-1160||19-24||62%||71%|
|Community College of Baltimore County-Essex||Baltimore||$6,812||$3,622|
|University of Baltimore||Baltimore||$8,596||$4,552||810-1030||20-21||49%||36%|
|University of Maryland||College Park||$10,181||$9,074||1210-1420||29-33||48%||87%|
|University of Maryland Eastern Shore||Princess Anne||$7,804||$8,097||790-950||17-20||38%||36%|
|University of Maryland University College||Adelphi||$7,176||$7,162||10%|
|Southwest Baptist University||Bolivar||$22,508||$12,240||860-1100||19-25||90%||46%|
|Three Rivers College||Poplar Bluff||$5,190||$4,344|
|Truman State University||Kirksville||$7,456||$7,864||1070-1330||24-30||68%||72%|
|University of Central Missouri||Warrensburg||$7,342||$5,754||20-25||75%||53%|
|University of Missouri||Columbia||$9,518||$8,561||1020-1290||23-29||75%||68%|
|University of Missouri||Kansas City||$7,846||$7,217||980-1300||21-28||62%||48%|
|University of Missouri||St. Louis||$9,590||$12,471||532-612||21-27||76%||79%|
|Washington University in St. Louis||St. Louis||$49,770||$31,907||1400-1570||32-34||17%||94%|
|William Woods University||Fulton||$23,040||$14,823||860-1120||19-25||70%||54%|
Graduate Business Schools in Maryland
We have data for 9 accredited colleges for master’s level business study in Maryland. Once again here we see a wide distribution: the overall average is about $40,000, but there’s only one school with tuition near that number, Loyola University Maryland at $38,870. Two schools are well above it (Johns Hopkins at nearly $110,000 and the University of Maryland at $89,000) while the remaining 6 are all below $32,000, and 5 of those below $22,000. The least expensive school is Salisbury University at just over $13,000.
There are five accredited online MBA programs in Maryland to choose from if you want to get a master’s degree while keeping your career going. Towson University offers a case-oriented online MBA program that can be completed in less than two years and offers eight specializations plus the option to create a custom program. Frostburg State University’s program is ranked as one of the most affordable online MBA programs and is modeled after its in-class MBA. Online MBAs are also offered by Salisbury University, the University of Baltimore, and the University of Maryland (which also offers a dual degree program).
The table that follows shows graduate business school tuitiothe n costs, average accepted applicant GMAT scores, percentage of faculty with a doctorate degree, and student-to-faculty ratios. Click any column header to sort the table based on its contents.
|Bowie State University||Bowie||$19,260|
|Frostburg State University||Frostburg||$17,568||85%||0.82|
|Johns Hopkins University||Baltimore||$109,500||654||87%||8.74|
|Loyola University Maryland||Baltimore||$38,870||530||77%||0.58|
|Morgan State University||Baltimore||$18,504||425|
|University of Baltimore||Baltimore||$31,600||89%||2.22|
|University of Maryland||College Park||$89,110||677||88%||6.11|
Job Outlook for Business Graduates in Maryland
Total growth of at least 5% is predicted in 32 of 37 business and management occupations across the US between 2016 and 2026, according to recent Bureau of Labor Statistics (BLS) data. The highest growth is predicted for market analysts and marketing specialists, at 22.8% over ten years, with financial managers next at 18.7%.
Maryland’s economy has consistently outperformed that of the nation over the last several decades, including a notably smaller peak in unemployment due to the Great Recession: while the nation as a whole hit 10% in late 2009, Maryland peaked at just 7.8%. This may be because of the state’s location near the nation’s capital—public sector jobs tend to be less subject to economic cycles than private sector jobs. The state’s current unemployment rate is 4.3%, a slight increase from 4.0% in late 2017, but still quite low. About 240,000 people were employed in the business and management sector in Maryland in 2016. The largest subgroup was general and operations managers, with 47,360 employed, nearly double accountants and auditors (26,230) and business operations specialists (21,610). All other categories were below 20,000, and most below 10,000.
BLS data shows the overall average annual wage in 2016 across all occupations in Maryland as $78,945, ranking the state #1 in the nation, more than $20,000 higher than the national average. Business and management occupations had a weighted average annual salary of around $106,000 that year, which gives Maryland one of the lowest differentials between business salaries and overall average salary. Chief executives led that way with an average salary of $192,400, followed by 14 management careers paying between $100,000 and $150,000. The lowest paid group, credit counselors, earned $45,490.
|Accountants and Auditors||13-2011||26,230||$39||$80,930||10.0%|
|Administrative Services Managers||11-3011||5,010||$55||$114,840||10.1%|
|Advertising and Promotions Managers||11-2011||490||$55||$114,380||5.8%|
|Agents and Managers of Artists and Athletes||13-1011||180||$29||$59,640||4.9%|
|Architectural and Engineering Managers||11-9041||5,060||$69||$144,140||5.5%|
|Business Operations Specialists||13-1199||21,610||$43||$90,060||8.8%|
|Compensation and Benefits Managers||11-3111||380||$71||$146,900||5.0%|
|Compensation and Job Analysis Specialists||13-1141||1,780||$37||$77,630||8.5%|
|Human Resources Managers||11-3121||2,390||$66||$138,050||8.9%|
|Human Resources Specialists||13-1071||12,140||$36||$74,780||7.1%|
|Information Systems Managers||11-3021||9,920||$72||$150,540||11.9%|
|Labor Relations Specialists||13-1075||1,380||$33||$67,770||-7.8%|
|Market Research and Marketing Specialists||13-1161||10,420||$32||$66,120||22.8%|
|Meeting, Convention, and Event Planners||13-1121||2,830||$27||$56,240||10.2%|
|Public Relations and Fundraising Managers||11-2031||1,470||$58||$120,240||10.4%|
|Tax Examiners and Revenue Agents||13-2081||580||$29||$61,310||-0.6%|
|Training and Development Managers||11-3131||1,140||$63||$130,630||10.3%|
|Training and Development Specialists||13-1151||7,060||$32||$67,360||11.5%|
1. National Center for Education Statistics:https://nces.ed.gov/
2. AACSB, Best Business Schools:http://bestbizschools.aacsb.edu/aacsb-accredited
3. ACBSP, Business Schools:https://www.acbsp.org/?page=accreditation
4. IACBE, Business Schools:http://iacbe.org/accreditation/
5. US Bureau of Labor Statistics – Occupational Outlook Handbook, Business and Financial Occupations: https://www.bls.gov/ooh/business-and-financial/home.htm
6. US Bureau of Labor Statistics – Employment and Wage Estimates: https://www.bls.gov/oes/current/oes_md.htm
7. Maryland Higher Education Commission: http://www.mhec.state.md.us/Pages/default.aspx
8. US News & World Report, 2018 Best Business Schools: https://www.usnews.com/best-graduate-schools/top-business-schools