McKinsey Hires 8.7% Of Booth Class

In comparison to Wharton, Booth MBAs tended to land finance jobs that paid slightly less than those at Wharton. Part of the reason for the gap can be explained by location: salaries tend to be higher in the northeast where only 23% of Booth graduates went to work. But it also can be explained by the ability of Wharton MBAs to land significantly more jobs in the most lucrative areas of finance: private equity and hedge funds.

Chicago reported that just 3.8% of its grads went into PE this year, compared to 10.8% of Wharton’s Class of 2013. The median starting salaries for those Wharton grads in PE, moreover, was $150,000 versus Chicago’s $102,500 median. Similarly, 4.2% of Wharton’s Class of 2013 landed jobs in hedge funds at median salaries of $150,000. Chicago doesn’t break out hedge funds, preferring to include them in a larger category–investment management–where the median salary was reported as $110,000 (see below)

A Tale of Two Schools: Chicago Booth vs. Wharton — Class of 2013 Job Choices & Pay

Industry	Booth % Hired	Wharton % Hired	Booth Median	Wharton Median
Investment Banking/Brokerage	14.2%	13.3%	$100,000	$100,000
Investment Management	8.3%	5.5%	$110,000	$120,000
Diversified Financial Services	4.9%	2.1%	$100,000	$112,500
Private Equity	3.8%	10.8%	$102,500	$150,000
Venture Capital	2.3%	2.5%	$102,500	$150,000
Hedge Funds	NA*	4.2%	NA*	$122,500
Insurance	1.5%	0.25%	$110,000	NA
Consulting	30.7%	29.3%	$135,000	$135,000
Consumer Products	2.1%	1.1%	$105,000	$100,000
Food/Beverage/Tobacco	4.2%	1.6%	$100,000	$100,000
Healthcare	2.5%	3.9%	$112,500	$117,000
Manufacturing	3.8%	1.6%	$110,000	$110,000
Media/Entertainment	0.6%	2.7%	NA	$110,000
Retail	1.3%	3.0%	$100,000	$100,000
Technology	12.3%	11.1%	$115,000	$115,000
Education/Govt/Non-Profit	1.7%	1.2%	$90,000	$83,000

Source: 2013 employment reports from Wharton & Chicago Booth

* Booth includes hedge fund employment in investment management

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