One In 5 INSEAD Grads Had No Job Offers 90 Days After Graduation In 2024

One In 5 INSEAD Grads Had No Jobs Offers 90 Days After Graduation In 2024

INSEAD’s latest double cohort of students graduated into a challenging job market

Twenty percent of MBAs who graduated from one of Europe’s most prestigious business schools had no job offers three months after they’d graduated, mirroring the decline in the job market for graduates of the elite B-schools in the United States and reinforcing the global nature of the downturn.

INSEAD, based in Fontainebleau, France but with campuses in Singapore, Abu Dhabi, and San Francisco, has released employment data for the 843 MBAs in two cohorts who graduated in December 2023 and July 2024. The conclusion: They had a harder time finding work, as a combined class, than any double cohort in INSEAD’s history. For comparison, 88% of their immediate predecessors reported receiving job offers three months post-graduation; the class before that was at 94%. The school regularly posted 90% or better offer rates from the Great Recession up to the Covid-19 pandemic.

But 2024 was different. The Class of 2024 faced economic uncertainty, political instability, and industry contractions in consulting and tech—two key sectors for MBA hiring. These broader trends have impacted top business schools globally — see links below. For INSEAD, the consulting slowdown hit particularly hard, as that has always been the school’s calling card.

SEE P&Q’S COVERAGE OF THE STRUGGLES OF THE MBA CLASSES OF 2024 AT:

HARVARD BUSINESS SCHOOL

STANFORD GRADUATE SCHOOL OF BUSINESS

THE WHARTON SCHOOL AT THE UNIVERSITY OF PENNSYLVANIA

NORTHWESTERN KELLOGG SCHOOL OF MANAGEMENT

MIT SLOAN SCHOOL OF MANAGEMENT 

COLUMBIA BUSINESS SCHOOL

CHICAGO BOOTH SCHOOL OF BUSINESS


INSEAD MBA EMPLOYMENT BY THE NUMBERS

Stats December 2023-July 2024 December 2022-July 2023 December 2021-July 2022
Class Size 843 875 1,094
Overall Average Salary $113,023 $122,824 $113,700
Overall Median Salary $116,044 $118,708 $110,100
Median Signing Bonus $28,751 $30,868 $26,900
Median Performance Bonus $22,813 NA NA
Job Offers 3 Months 80% 88% 94%
Max Salary $320,000 (Consulting — United Arab Emirates) $450,000 (Energy – Corporate Sectors) $300,000 (Finance)
Min Salary $17,500 (Insurance) $22,100 (Manufacturing) $24,500 (Tech)
CONSULTING 55% 61% 53%
Consulting Median Salary $130,000 $119,100 $117,300
FINANCE 13% 14% 12%
Finance Median Salary $108,400 $103,500 $117,800
TECH/MEDIA 11% 9% 22%
Tech Median Salary $98,700 $103,700 $100,400
CORPORATE SECTORS 21% 16% 13%
Corporate Sectors Median Salary $101,100 $105,500 $145,500
Health Care Median Salary $112,700 $115,700 $102,800
CPG Median Salary $108,800 $105,800 $102,400
Manufacturing Median Salary $92,400 $100,500 $107,100

4 KEY SECTORS SEE MEDIAN SALARY DECLINES IN 2024

Consulting remained the leading industry for INSEAD MBAs, attracting 55% of the new cohort, down from 61%, followed by Corporate Sectors (21%, up from 16%), Financial Services (13%, down from 14%), and Technology, Media, and Telecommunications (11%, up from 9%).

In U.S. dollars, the school’s class average starting salary dropped 8% to $113,023 from $122,824. The class median salary ($116,044) was also down slightly. Median salaries for a handful of sectors — Health Care, Tech/Media, Manufacturing, and Corporate Sectors — were also down (see above). An INSEAD spokesperson notes that the median base salary reflects the school’s truly global reach: It is a reflection of the broad range of target countries, exchange rates, compensation norms and cost of living across the globe.

The Middle East continues its rise as an appealing career destination for INSEAD grads, notes Rhoda Yap, executive director of INSEAD’s Career Development Centre, in a message attached to the report, with 22% of graduates finding work in the region, particularly in the United Arab Emirates. Among the top recruiters, the MBB consulting firms curtailed their hires significantly, at least partly explaining the big drop in offer rates for the class (see below).

POSITIVE SPIN ON A TOUGH LANDSCAPE

School officials are looking on the bright side. From the school, in response to a request for comment from P&Q on whether the 80% was the lowest-ever job offer rate for an INSEAD class: “The INSEAD MBA statistics combine data from two cohorts who graduated in December 2023 and July 2024. While this year’s overall offer rate within three months of graduation is lower than in recent years, the individual offer rates for each cohort are not the lowest on record. Encouragingly, we are already seeing positive hiring trends emerging, and we remain confident in the long-term value and resilience of the INSEAD MBA in preparing our graduates for impactful global careers.”

Adds Rhoda Yap: “The INSEAD MBA Employment Statistics for 2024 highlight the resilience and adaptability of our graduates in an evolving global economy. Despite a challenging global hiring landscape, 80% of our graduates secured job offers within three months of graduation. This achievement is noteworthy given the international mobility of our graduates, with career moves spanning an impressive 54 countries — affirming INSEAD’s position as the most global of all business schools.

“Completing one of the world’s most intensive and diverse MBA programs, INSEAD graduates are uniquely prepared to navigate complex global hiring landscapes. This underscores the value INSEAD MBAs bring to employers worldwide. As we turn to 2025, we look forward to continuing our mission of empowering, connecting, and educating responsible leaders as they navigate their lifelong career journeys.”

TOP RECRUITERS OF INSEAD MBAs DECEMBER 2021-JULY 2024

Company December 2023-July 2024 Hires December 2022-July 2023 Hires December 2021-July 2022 Hires
McKinsey 121 167 160
Boston Consulting Group 91 108 108
Bain 62 89 91
Strategy& 36 38 21
Kearney 33 32 17
Accenture 29 9 14
Oliver Wyman 13 10 6
Amazon 8 6 61
Eli Lilly & Company 7 5 NA
Roland Berger 5 19 8

DON’T MISS INSEAD JOBS: A CONSULTING BOOM AT A CONSULTING POWERHOUSE (2024)