Yet another business school, this time Vanderbilt University’s Owen School of Management, is reporting that its graduating MBAs landed record starting salaries this year. Owen said that the average starting base salary rose to an all-time high of $108,255, a 7% increase over 2014.
Owen is the fourth school to report higher starting pay for its MBA graduates, following strong employment reports from the University of Chicago’s Booth School of Business, Indiana University’s Kelley School, and Georgetown University’s McDonough School of Business.
Vandy said that 93% of the Class of 2017 had received job offers three months after graduation, with 92% accepting those full-time offers. Some 86% had a full-time offer at commencement. with 81% accepting their job offers, close to record highs for both metrics.
A RECORD HIGH 24% OF THE CLASS ACCEPTED CONSULTING JOBS
Emily Anderson, director of the school’s Career Management Center says the school saw continued strength in consulting hires, with 24% of the graduating class accepting offers from consulting firms, a new record high. Technology firms hired 19% of the class, while financial services took 17% of the MBAs. Heath care employed 12% of the class.
Anderson added that students were employed in more than 28 different metropolitan areas across the United States, with the major concentrations outside of Nashville in Atlanta, New York, Dallas and the San Francisco Bay area.
Some 78% of full-time MBAs accepted offers came from Owen-associated sources such as summer internships, on-campus interviews, job postings, faculty and alumni referrals and career fairs.
A ‘ROBUST INTERNSHIP MARKET’ WILL LIKELY LEAD TO ANOTHER STRONG YEAR
Next year’s employment outcomes should be just as good if not better based on the jobs MBAs landed this past summer. “The Class of 2016 enjoyed a robust summer internship market, which resulted in a full 100% of first-year students seeking a summer internship accepting an internship by June,” wrote Anderson.
“Our interns spent the summer in a wide array of industries and job functions in more than 100 different companies across the United States, with approximately one-half returning to campus in August for their second year at Owen with a full-time job offer from their internship.”