Record Starting Pay At Columbia B-School

McKINSEY LEADS ALL MAJOR EMPLOYERS IN HIRING AT CBS YET AGAIN

Still, the top four major employers at the school were all major consulting firms. McKinsey & Co., the prestigious global consulting firm, was again Columbia’s No. 1 employer. It was at least the fifth consecutive year in which McKinsey was at the top of Columbia’s employment roster. This year, the firm carted away 55 members of the available class, slightly more than 8% of the graduating students, up from 51 last year and 50 in 2013. Bain & Co. was next with 35 hires, while BCG (29) and Deloitte Consulting (28) were all ahead of the financial service firms.

Nevertheless, the highest percentage of Columbia grads, as you might expect, headed into the financial sector. Some 37.1% of the MBAs, up from 35.0% last year, took jobs in finance. Consulting was not far behind with 35% of the class going into that industry, up from 34.3% a year earlier. Columbia said that students entering the media and tech business dropped to 9.8% this year, from 13.7% in 2014.

Roughly 7.8% of the Class of 2015 headed into manufacturing, up from 5.9% a year earlier, while 3.7% gained jobs in real estate, up from 3.3% in 2015. Health care rose slightly, hiring 1.8% of the MBAs, up from 1.6%, while MBAs headed into the non-profit sector, including government and education jobs, slipped to 1.8% from 2.3%.

GOOGLE AND CITI HIRING AT COLUMBIA DOWN

One interesting trend: Most of the big financial firms tended to hire fewer grads this year than last, with the exception of JP Morgan Chase. Goldman, Bank of America Merrill Lynch, Citi, Morgan Stanley and Credit Suisse all hired fewer Columbia MBAs this year than last. Citi employed nine from the class, down from 16 a year ago. Hiring by Google fell to only four from 14, though Apple doubled its Columbia employs to six from three in 2014 and Microsoft upped the game to seven hires from four last year. Hiring, of course, is a two-way street: MBAs turn out offers these days, and employers decide whether to make an offer or not.

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