2022 MBA Jobs: Tepper Reports New Placement & Salary Records

As MBA employment reports have rolled in this fall and winter, the value of an MBA has been reinforced over and over. The latest report, from Carnegie Mellon University’s Tepper School of Business, does nothing to undermine that reality.

Tepper MBAs broke the B-school’s previous record for employment rate three months after graduation, with 97% receiving an offer within 90 days, up from 96% last year and 89% in 2020 during the depths of the coronavirus pandemic. Tepper’s 2022 MBAs’ median salary also set a new school record, growing 8% to $148,000.

“The outcomes highlighted in this year’s report demonstrate our graduates are continuing to drive the future landscape of business,” says Isabelle Bajeux-Besnainou, dean of the Tepper School. “As a school, we couldn’t be more honored to be a part of that journey.”

TEPPER: CLEARLY A CONSULTING SCHOOL 

Tepper's report is in line with employment reports from other leading B-schools in 2022:

• Wharton MBAs' median salary grew significantly this year, jumping 12.9% to a school-record $175,000 — after salaries been flat at $150,000 in 2019 and 2020 and risen only to $155,000 in 2021;
• Harvard Business School grads saw a 16.3% year-to-year increase in median salary to $175,000 and median performance bonuses increase to $40,000 powered a leap in total median compensation to $223,100, a one-year jump of 17.5%.
• Median and average salaries grew significantly this year for UC-Berkeley Haas School of Business MBAs, who made a median $155,000 and total compensation of nearly $180,000;
• Virginia Darden School of Business MBAs made a median $175,000, up 21% from the Class of 2021;
• At Michigan Ross School of Business, MBAs landed a $165,000 median salary, up from $144,000, and a $192,270 median salary package, up from $171,450;
• At MIT Sloan School of Management, average base salary increased 7.6% from the previous year, to $159,391, and median base salary grew 10% to $165,000; total median compensation was $204,700, up 4.7% from $195,600 last year;
• At Northwestern Kellogg School of Management, median salary for the class jumped $15,000, to $165,000, and is up 18% since the last pre-pandemic graduating class in 2019; bonuses stayed at a median $30,000, and with 87% receiving them, median total pay came out to $191,100, up 8.7% from $175,800 last year.
• At Dartmouth Tuck School of Business, median base salary grew 16.7% to $175,000 from $150,000 in 2021, and median total compensation grew to $202,900, up more than 15% from last year.

Significantly, Tepper's role as a "tech school" — which it was, definitively, for about 10 years until 2019 — receded further into the rearview, as more than 39% of the 2022 class found work in consulting, up from 33.7% in 2021 and 33% in 2020. Tech was flat at 28.1%; financial services grew to 16.4% from 12.6. By function, 40.6% of the school's 141 grads took consulting jobs.

Average consulting salaries also jumped considerably, by 12% to $164,612 from $146,983. Finance, meanwhile, paced all increases with a 12.7% climb to $145,000, and tech salaries grew by 5.8% to $140,426.

TEPPER EMBRACES HYBRID RECRUITING

Stephen Rakas, executive director of Tepper's Masters Career Center, says the school and its graduates have firmly embraced the hybrid approach to recruiting that yielded such positive results this year. Rakas notes in his forward to the employment report that the MCC conducted more than 2,200 virtual advising appointments last year.

“We’ve found that hybrid options allow recruiters and students to reach farther and participate more broadly in both recruiting and those critical networking activities that happen ahead of interviewing,” Rakas says.

“The MCC team works with all recruiters to ensure a seamless and top-quality experience for students and recruiters, regardless of the format they choose. Our alumni and recruiter networks were wonderful during the challenges of the pandemic and we continue to remain grateful for their commitment and adaptability as we all navigate this new hybrid recruitment format.”

DON'T MISS TRIO OF 2021 MBA EMPLOYMENT REPORTS PUSHES 2020 FURTHER INTO REARVIEW and THE B-SCHOOL WHERE MBA GENDER PARITY IS AN ANNUAL EVENT

AND SEE OUR STORIES ON EMPLOYMENT REPORTS AT THE TOP B-SCHOOLS: 

THE WHARTON SCHOOL

HARVARD BUSINESS SCHOOL

MIT SLOAN SCHOOL OF MANAGEMENT

NORTHWESTERN KELLOGG SCHOOL OF MANAGEMENT

DARTMOUTH TUCK SCHOOL OF BUSINESS

UC-BERKELEY HAAS SCHOOL OF BUSINESS

VIRGINIA DARDEN SCHOOL OF BUSINESS

MICHIGAN ROSS SCHOOL OF BUSINESS