Canary In The Coal Mine? Georgia Tech Report Hints At Challenging MBA Jobs Landscape

Most of the top U.S. business schools have yet to release their MBA Class of 2024 employment reports — even those schools that historically have done so well before mid-November.

One top-30 business school has beaten its peers to the punch. And if the report from Georgia Tech Scheller College of Business signifies a larger trend, 2024 saw a big downturn in MBA fortunes.

To be fair, Georgia Tech was unlikely to exceed its last report, which showed 96% of MBA Class of 2023 grads finding work three months after graduation at a record-breaking average base salary of $154,679 — a 12.25% increase from the previous year.

SCHELLER GRADS ‘THRIVE IN UNCERTAINTY’

This year’s Scheller graduates had a tougher time. The employment rate dropped to 88.4% after three months, and average base salary fell to $146,260 — a decline of 5.4%. Average signing bonus grew to $29,405 from $28,245 (4.1%), but fewer grads reported receiving one: 78.6%, down from 91%.

“The Class of 2024 has demonstrated remarkable resilience and adaptability, with 69 job seekers securing positions across 36 unique employers in 12 diverse industries,” says Dave Deiters, associate dean of MBA programs and the Scheller College’s Jones MBA Career Center, in the introduction to the jobs report.

“Amidst a challenging job market, their achievements reflect not only their hard work but also their ability to thrive in uncertainty. This class exemplifies the spirit of our program and the endless possibilities that lie ahead.”

BIG JUMP IN TECH PLACEMENT

Consulting was once again the top industry for Scheller MBAs, with 43% of the class entering the industry. However, that was down from 58% in the Class of 2023.

Instead, a much bigger proportion of the class chose tech, despite that industry’s continued travails: 21%, up from 11% of the previous class. The next biggest industry, transportation and logistics, also saw a jump from 2023, with 10% of the class going that route, up from 6%.

Georgia Tech’s Jones MBA Career Center helped nearly three-quarters of the MBA Class of 2024 find jobs; that was down from 83% in 2023.

“At the Jones MBA Career Center, we aim to equip our students with the most sought-after skills and competencies that drive business success,” Deiters says. “Our strong recruiting relationships are founded on trust and open communication, allowing us to effectively connect organizational needs with student talent. We are proud to play this vital role.”

DON’T MISS THE TECH BLOODBATH IS FAR FROM OVER: INDUSTRY LIMPS TO MIDPOINT OF 2024 and ‘UNPRECEDENTED’ MBA JOB OUTCOMES AT THIS TOP U.S. B-SCHOOL