Big Jump In Tech Hires At Kellogg

Only four business schools’ graduates landed higher base salaries this year: Harvard, Stanford, Wharton and MIT Sloan. Kellogg’s median salary at $120,000 matched the University of Chicago’s Booth School of Business, even though Chicago places far more students in the generally more lucrative finance sector. Sign-on bonuses of $25,000 are generally standard throughout the top-tier schools. Where Kellogg tends to lose out a bit is in year-end other guaranteed compensation, a bigger factor among financial firms (see below table).

How Kellogg’s Class of 2014 Compares

With Other Top Business Schools

 

SchoolMedian BaseSign-on BonusOther BonusJackpotGraduation OffersOffers 3 Months Later
Harvard$125,000$25,000$34,700$184,70088%93%
Stanford$125,000$25,000$31,500$181,50080%94%
Wharton$125,000$25,000$27,000$177,00088%98%
MIT Sloan$124,400$25,000$20,000$169,40085.9%94.6%
Kellogg$120,000$25,000——$145,00085.0%94.0%
Chicago$120,000$25,000$26,000$171,00089.8%98.0%
Columbia$119,400$25,000$22,390$166,79083%97%
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%
Yale$110,000NA$35,000$145,00080%93%
New York (Stern)$110,000$30,000$20,000$160,00081%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

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.