‘THE JOB MARKET IS AS STRONG AS I HAVE EVER SEEN IT’
The numbers at Vanderbilt University’s Owen Graduate School of Management are just as enticing. This year the school, based in Nashville, Tenn., hit a new all-time high in average starting salaries of $113,205, a 2.6% increase from a year earlier and 16.9% higher than five years ago. The average sign-on bonus was $25,232, received by 83% of the graduates. Three months after commencement, 93% of Owen’s Class of 2017 had job offers and 91% had already accepted their jobs. The salary and sign-on bonus package came to a healthy $130,750 (and this is for a school where slightly more than four of ten students take jobs in the south).
For the sixth year in a row, 100% of first-year MBAs seeking a summer internship had gotten one. That’s a vital statistic at a business school because in Owen’s case, 53% of the MBAs came back from their internships with full-time job offers this year, up two full percentage points from a year earlier.
“The job market is as strong as I have ever seen it,” says Emily Anderson, director of Owen’s Career Management Center. “It’s been strong and vibrant coming out of the recession and we are definitely enjoying it. Every industry has increased in starting salaries in double digits in the past five years. Amazon is hiring at volumes never seen and as a corporate leader other companies will follow. Wal-Mart is now looking at the MBA market for merchandising. Amazon started hiring here early, mainly in operations, but now the company hires our graduates for product management, retail leadership development, human resources and finance.”
OWEN’S TOP 50 EMPLOYERS HAVE HIRED 60% OF ITS GRADS IN THE PAST FIVE YEARS
How sure a bet is an Owen MBA? Pretty darn sure, and the companies that come to campus to recruit the school’s MBAs are a remarkably solid base. Owen’s top 50 employers have hired six of every ten grads in the past five years. Amazon has employed 50 of the school’s MBAs, Deloitte has taken 42, North Highland 29, DaVita 16, American Airlines 13, and Mattel 13.
The top industry employer at Owen is technology, where 25% of this year’s graduates gained jobs, followed by consulting (18%) and financial services (18%), then healthcare (16%), and consumer products (6%).