Exploring the Highest MBA Salaries at Top MBA Programs in the United States and the winner is…
Post-MBA pay can be critical for many applicants when shortlisting MBA programs. While compensation is only one parameter determining success in one’s career, it often gets much attention, especially from budding MBA aspirants.
Multiple trends impact MBA employment opportunities, and salaries vary yearly based on macro and microeconomic factors. The latest employment statistics from the leading MBA programmes confirm these shifts, which impact several universities, such as Harvard, Stanford, and Columbia.
Here is a look at the hiring trends for the top 10 U.S. business schools that churn out graduates with the highest expected starting pay.
Stanford GSB: Leading in Salary
The median base salary of the Stanford GSB graduates was $182,500, 4.3% more than the level indicated in the previous year. The median performance bonus paid to the employees was $50,000, while the median signing bonus was $30,000. As one would expect, Stanford’s start-up culture is robust. Self-funded start-ups make up as much as 25% of the class, and 49% are in the technology field.
Wharton: Dominating the Finance Sector
Wharton School of the University of Pennsylvania was most prominent in finance; the graduating class recently garnered several jobs in financial services. A remarkable 97.2% of the class secured employment within the next three months of passing the class.
The median salary for a Wharton graduate in professional services shifted to $215,000 from the previous median value of $175,000 for the consulting base salary.
Chicago Booth: Consulting Takes the Lead
Booth was initially known as one of the best finance schools, yet in recent years, more and more MBA students have chosen the consulting sector. While 95.6% of the students got an offer to join a job, 94.3% were placed and accepted the offers in the first three months of completing the course. Booth had two hundred and two organisations that were hiring MBA students.
The consulting industry had maximum recruitment of 38.6%, and the big three consulting firms were the dominating consultants. Of 150 students, 71 were placed in McKinsey & Co., 52 in BCG, and 30 in Bain & Co.
The middle base pay of the sample was $180,000, a 3% increase from the year before. 93.2% were employed within the United States, while the remaining 6.8% had offers worldwide. The median signing bonus was $33,000, a 10% increase from the previous year.
Dartmouth Tuck: Continuity of Placement
MBA students’ placements at Tuck have remained mainly resilient over the last decade despite periods of slowdown and recession. The latest report shows that 96% of the class got job offers, of which 93% accepted.
Tuck graduates received a median starting base salary of $175,000 and a median signing bonus of $30,000. The median starting salary for consulting firms has increased to $190,000; for the tech sector, it has risen to $160,500. Salary growth was also seen in other sectors, such as healthcare and consumer goods.
Harvard Business School: Impacted but Resilient
HBS was one school that saw a significant adverse impact on post-MBA placements. 86% of the class received an offer, while 80% accepted one. One year ago, these numbers were significantly higher: 95% had received an offer, and 90% accepted an offer.
The median base salary was $175,000, with a median signing bonus of $30,000 and a median performance bonus of $40,000. 89% of the class was recruited in the US, while 11% were international placements.
Lesser-Known Schools Shining Bright
Some unknown institutions also have very high employment statistics, while the best-known institutions dominate the Ivy League schools and the M7. For instance, UVA Darden ranked in the top 10 of increases in the highest starting salary and bonus, with 96% of the class placed.
Choosing the Right Business School for Your Career Goals
While comparing international business schools for your MBA, employment reports of these schools can help you learn about the existing trends. Based on the experiences and training the school offers, will you be able to obtain the kind of job you want?
The MBA Edge is an MBA Admission Consulting Venture that provides program application assistance. For a consultation on your MBA program, please contact us at info@thembaedge.com.
