2020 Best Online MBA Programs in
With a strong economy, healthy GDP, and a business-friendly climate, Virginia is home to 725,000 small businesses and 21 Fortune 500 companies. This means there are ample employment opportunities for business professionals seeking managerial or executive-level jobs that require an MBA. To help you choose an MBA program, we’ve ranked the best online MBA programs in Virginia based on the percentage of graduates working in executive-level roles.
MBA Jobs in
With a broad industry base, a growing economy, and temperate climate, Virginia is an ideal location for those looking for MBA jobs. Virginia welcomed over 200,000 new residents between 2010 and 2018, according to U.S. Census figures. Additionally, the unemployment rate in Virginia is well below the national average — 2.9% versus 3.7% — making the state extremely attractive for MBA graduates seeking a job.
In 2019, there were 21 companies from Virginia listed on the Fortune 500, including household names like Capital One, Dollar Tree, CarMax, and Hilton Holdings. The Virginia Fortune 500 companies alone employ over 800,000 workers, providing a variety of possible MBA career paths for motivated graduates.
Virginia offers a variety of residential choices for graduates interested in starting a business or those seeking an MBA career. In addition to its large cities of Virginia Beach, Norfolk, Chesapeake, Richmond, and Newport News, Virginia is also home to smaller cities, towns, and rural locations, perfect for companies looking for more affordable costs for infrastructure, labor, and other operating expenses.
MBA Job Growth
According to the Virginia Economic Development Partnership, the state is home to a diverse range of industries, with the largest data center market in the country, a leading concentration of technology workers, a strong manufacturing base, and one of the biggest ports on the East Coast. The Partnership names the following key industries as “poised for growth” in Virginia: corporate services, food and beverage processing, information technology, life sciences, manufacturing, supply chain management, and unmanned systems.
According to the government of Virginia, the projected employment growth rate expected until 2024 is around 9.3%, which is higher than the national growth rate of 6.5%. High-growth positions for MBA graduates in Virginia include management analysts, accountants and auditors, and personal financial advisors.
Virginia supports business growth through its many state-funded incentive programs, including job expansion grants, capital investment grants, maritime grants, deal-closing grants, and agriculture development funds. Mentors, financial resources, and workforce development programs are readily available to early-stage entrepreneurs.
Virginia MBA Salaries
The average annual MBA salary in Virginia is $81,000 per year, right in line with the national average of approximately $83,000. Yet, many MBA jobs in Virginia pay significantly higher than the state and national averages. For example, according to the University of Virginia’s Darden School of Business, their MBA graduates received an average annual salary higher than the national average in industries like consulting ($140,189), investment banking ($128,625), and retail ($123,929).
- Uzialko, A. (2019). How to Run a Business in Virginia. [online] Business News Daily. Available at: https://www.businessnewsdaily.com/9707-doing-business-in-virginia.html [Accessed 10 Oct. 2019].
- United States Census Bureau (2018). Available at: https://www.bls.gov/eag/eag.va.htm. [Accessed 1 Sept. 2019].
- Fortune 500 (2019). Available at: https://fortune.com/fortune500/2019/search/?hqstate=VA. [Accessed 1 Sept. 2019].
- Virginia Economic Development Partnership. Available at: https://www.vedp.org/. [Accessed 1 Sept. 2019].
- StartUp Virginia. Available at: https://www.startupvirginia.org/people/investors/. [Accessed 1 Sept. 2019].
- MBA Salary in Virginia (2019). Available at: https://www.ziprecruiter.com/Salaries/How-Much-Does-a-MBA-Make-a-Year--in-Virginia. [Accessed 1 Sept. 2019].
- Kolmar, C. These Are the 10 Highest-Paying Jobs in Virginia. Available at: https://www.zippia.com/advice/highest-paying-jobs-in-virginia/. [Accessed 1 Sept. 2019].