MIT Sloan | Mr. Healthtech Consultant
GMAT 750, GPA 3.44
NYU Stern | Mr. Army Prop Trader
GRE 313, GPA 2.31
Harvard | Mr. Software PE
GMAT 760, GPA 3.45
Kellogg | Mr. Social Impact Initiative
GMAT 710, GPA 3.1
Harvard | Mr. Policy Player
GMAT 750, GPA 3.4
Chicago Booth | Mr. Unilever To MBB
GRE 308, GPA 3.8
INSEAD | Ms. Spaniard Consultant
GMAT 710, GPA 8.5/10.00
Rice Jones | Mr. Carbon-Free Future
GMAT 710, GPA 4.0
London Business School | Ms. Private Equity Angel
GMAT 660, GPA 3.4
Harvard | Mr. Navy Nuke
GMAT 710, GPA 3.66
Duke Fuqua | Mr. Salesman
GMAT 700, GPA 3.0
NYU Stern | Ms. Entertainment Strategist
GMAT Have not taken, GPA 2.92
Wharton | Mr. Future Non-Profit
GMAT 720, GPA 8/10
Chicago Booth | Ms. Indian Banker
GMAT 740, GPA 9.18/10
London Business School | Mr. FANG Strategy
GMAT 740, GPA 2.9
Cornell Johnson | Mr. Indian Dreamer
GRE 331, GPA 8.5/10
Wharton | Mr. Hopeful Fund Manager
GMAT 770, GPA 8.52/10
London Business School | Mr. LGBT Pivot
GMAT 750, GPA 3.7
Kellogg | Mr. Defense Engineer
GMAT 760, GPA 3.15
Harvard | Mr. CPPIB Strategy
GRE 329 (Q169 V160), GPA 3.6
Rice Jones | Mr. Student Government
GMAT 34 (ACT for Early Admit Program), GPA 3.75
Chicago Booth | Mr. Healthcare PM
GMAT 730, GPA 2.8
Kellogg | Ms. Sustainable Development
GRE N/A, GPA 3.4
Stanford GSB | Mr. Army Engineer
GRE 326, GPA 3.89
Kellogg | Ms. Big4 M&A
GMAT 740, GPA 3.7
MIT Sloan | Ms. Rocket Engineer
GMAT 710, GPA 3.9
Harvard | Mr. African Energy
GMAT 750, GPA 3.4

Salaries & Offers Up At Chicago Booth

Chicago's Booth School of Business

Chicago’s Booth School of Business

Median salaries and job offers went up this year for the graduating MBAs at the University of Chicago’s Booth School of Business. The median base salary rose to $120,000, up $5,000 from last year’s $115,000. Only six years ago, in 2009, median salaries at the school were just $100,000. Only three business schools have higher median starting salaries: Harvard, Stanford, and Wharton, all of which have reported a median base this year of $125,000.

Median sign-on bonuses, received by six out of every ten graduates, were $25,000, exactly the same as they were last year, while other year-end guaranteed bonus, reported by 16% of the MBAs, was $26,000. For a graduating student lucky enough to pick up all three elements of compensation, the potential first-year comp package would total $171,000.

Even more impressive, however, is the number of Class of 2014 graduates who had job offers. This year 98% had at least one offer of employment three months after graduation, up from 93.7% last year, while 89.8% had offers at graduation, up from 86.3%. Of all the top schools to issue 2014 employment reports so far, only Wharton, Dartmouth’s Tuck School of Business, and Emory University’s Goizueta School of match the 98% offer rate hit by Booth.

What’s more, international students at the school actually posted slightly better job offer rates than domestic students–just as they did last year. That’s typically unusual because it often takes MBAs from overseas longer to land offers of employment due to visa restrictions as well as job searches that extend overseas. But 99.3% of the international graduates had offers three months after graduation, up from 94.7% a year ago, while a highly impressive 93.4% had offers at commencement, up from 87% in 2013. The numbers come from the school’s newly released 2014 employment report.


Consulting giant McKinsey & Co. again topped the school’s list of major employers, hiring 40 MBAs out of a class of 572 graduates, virtually the same number it employed a year-ealier when 41 Boothies accepted their McKinsey offers. Boston Consulting Group was right behind McKinsey, bringing aboard 25 MBAs from Booth, while yet another Big Three consulting firm, Bain & Co., came next with 16 hires. Rounding out the top employers who hired in double digits from the class were Accenture (13), Credit Suisse (12), and Deloitte Consulting (11).

Unlike Columbia Business School, where the financial sector hires fell to all-time lows, Chicago Booth actually placed more of its MBAs in finance this year than last. Some 36.4% of the class headed into the financial industry, up slightly from 35% a year earlier. Besides Credit Suisse, a host of major financial players gained Booth MBAs, including Citigroup, J.P. Morgan Chase, Bank of American/Merrill Lynch, Goldman Sachs, Morgan Stanley, Deutsche Bank, Wells Fargo Securities, and Barclays Capital all were among the school’s top recruiting companies this year.

The school managed to boost its exposure to the financial sector thanks to increases in hires by investment banking and brokerage firms, private equity outfits, and diversified financial service companies. MBAs accepting i-banking and brokerage jobs rose to 15.6% this year, up from 14.2% a year ago, while 5.9% of the class landed jobs in private equity, up from 3.8% last year. The highest reported starting salary in the class–$275,000–went to a graduate with more than five years of work experience who landed one of those PE jobs.

More Booth MBAs also found jobs in technology, consumer products, energy, real estate, and non-profits. The second most popular industry at the school–management consulting–fell slightly this year to 27.9%, from 30.7% a year ago.

The highest median salaries–$137,500–in the class went to the 10 MBAs who landed jobs in venture capital. Otherwise, consulting and private equity paid out median base salaries of $135,000.

How Chicago’s Class of 2014 Compares

With Other Top Business Schools


SchoolMedian BaseSign-on BonusOther BonusJackpotGraduation OffersOffers 3 Months Later
Dartmouth (Tuck)$116,000$25,000$25,000$166,00091%98%
Michigan (Ross)$115,000$25,000$16,750$156,75089%93%
Duke (Fuqua)$111,000$25,000$15,000$151,00087%94%
UCLA (Anderson)$110,000$25,000$15,000$150,00075%90%
Virginia (Darden)$110,000$25,000$9,500$144,50089%94%
Cornell (Johnson)$106,000$25,000$12,500$143,50087%92%
UNC (Kenan-Flagler)$100,000$25,000$16,625$141,62581%92%
Texas-Austin (McCombs)$105,000$25,000$12,600$142,60080%94%
Emory (Goizueta)$100,000$25,000$12,500$137,00090.4%98.0%
Vanderbilt (Owen)$100,000$15,000$12,000$127,00083%94%
Washington (Olin)$100,000$15,000NA$115,00086%97%

Source: Business school employment reports & P&Q reporting

Notes: Jackpot refers to graduates receiving the median of all three forms of compensation: salary, signing bonus, and other year-end guaranteed bonus. Not all graduates are given all three. At Stanford, for example, sign-on bonuses this year were collected by half the class, while 38% of the MBAs received other year-end guaranteed compensation. An asterisk indicates average numbers rather than medians.

Differences in pay often reflect industry choices and geography. Stanford’s higher median base can largely be attributed to the fact that 12% of this year’s class went into private equity, which currently pays the most lucrative comp packages to MBAs. The median PE starting base salary this year was $170,000. At Tuck, for example, only 4% of this year’s class went into private equity and the base for those PE jobs was just $120,000.

About The Author

John A. Byrne is the founder and editor-in-chief of C-Change Media, publishers of Poets&Quants and four other higher education websites. He has authored or co-authored more than ten books, including two New York Times bestsellers. John is the former executive editor of Businessweek, editor-in-chief of Businessweek. com, editor-in-chief of Fast Company, and the creator of the first regularly published rankings of business schools. As the co-founder of CentreCourt MBA Festivals, he hopes to meet you at the next MBA event in-person or online.