In terms of employment outcomes for MBAs graduating from the top business schools in 2020, everyone suffered, but some schools suffered more than others. Notre Dame Mendoza College of Business was certainly in this unfortunate group. Just 79% of Mendoza’s Class of 2020 MBA grads had job offers within three months of graduation, down from 92% in 2019, and only 78% had accepted, down from 89.5%.
Ancient history. Notre Dame released its Class of 2022 employment report this month showing a second straight year of record outcomes for full-time MBA graduates, including 96% of the class receiving and accepting offers within three months of graduation. The average starting base salary rose to $133,018, a 9% increase from 2021, and the mean signing bonus rose to $33,581, a 15% year-over-year increase.
Most impressively, the school’s combined salary and bonus average grew to $166,599, up 10.6% in a year and up 22% — more than $30K — from that dismal pandemic year of 2020.
TECH-BOUND MENDOZA MBAs DECLINED BY 50%
“We are very proud of our students and their career outcomes,” says John Rooney, director of Graduate Business Career Development at the Mendoza College of Business. “What is most gratifying is that our students obtained careers that align with their values, skills, and experiences. This alignment will empower these Notre Dame leaders to Grow the Good in business.”
The strong outcomes were driven by Mendoza grads’ success in consulting, financial services, and technology. The school reports that 30% pursued careers in consulting, up from 15.4%, with a median salary of $155,000, while 25% accepted jobs in financial services, up from 14.3%, with a median salary of $175,000. Another 18% went into technology with a median salary of $132,000. Notably, Notre Dame’s tech sector-bound grads declined by 50% from 36.3% of the Class of 2021.
“Business is a team sport at Notre Dame,” Rooney says, noting that top employers of Mendoza MBAs included Deloitte, EY, PwC, Goldman Sachs, Guggenheim, JP Morgan, UBS, Citibank, IBM, Amazon, and Microsoft. “These outcomes are a result of hard work from our students, support from our employer partners, dedication from the career development team, and the support of our legendary alumni network.”
Adds Mendoza Class of 2022 MBA Zach Silvestri, who accepted an associate position with McKinsey: “The Notre Dame alumni network was an invaluable resource from the moment I stepped on campus. Navigating a career pivot coming out of Covid-19 created a lot of uncertainty and the willingness of alumni to lean in to help me prepare for and navigate the recruiting process was a huge difference maker. Their passion for the university and willingness to give back time and energy supporting current students really sets Mendoza apart.”
MENDOZA'S NEW MBA CLASS IS 24% URM & 30% WOMEN
Notre Dame Mendoza also released a profile of its new MBA class, calling it "one of its most diverse in recent history." The Mendoza MBA Class of 2024 comprises 96 students, including 24% of U.S. underrepresented minorities, 30% women, and 31% international students. The class hails from 25 U.S. states and holds passports from 17 different countries.
“We are thrilled to welcome a diverse group of students from across the world who share our mission to use business as a force for good,” says Joe Sweeney, academic director for the Notre Dame MBA program. “We are excited to welcome a class that has a strong academic background, diverse work experience, a track record of service and an enthusiasm for the dynamism of business.”
The Class of 2024 has a median GMAT of 685 and an undergrad GPA of 3.3. Students "represent a variety of undergraduate majors, including business (49%), engineering (21%) and science (10%)," according to a school news release. The class has an average five years' work experience, with the top industries financial services (17%), consulting (14%), technology (10%), and education (8%).