In A Cooling MBA Job Market, Tuck’s 2025 Grads Held Their Ground

Dartmouth’s Tuck School of Business has released its full employment report for the Class of 2025, showing that the school once again weathered a challenging MBA job market. While last year’s Class of 2024 saw a modest decline in job-offer rates amid a tough hiring climate, the new data for 2025 reflects a rebound in stability, continued employer demand, and strong compensation outcomes.

Tuck’s Career Services reports that 268 of 292 graduates sought employment in 2025, and 90% received job offers within three months of graduation, down only slightly from 91% of the Class of 2024; 87% accepted them, down from 89%. International students performed even more strongly this year, with 92% receiving offers and 88% accepting them by the three-month mark.

DARTMOUTH TUCK MBA PAY BY INDUSTRY 2024-2025

Industry	% of Grads	Median Salary	Salary Range	Median Signing Bonus	Bonus Range	2024 Median Salary	2024 Median Signing Bonus
Consulting	41%	$190,000	$90,000-$200,000	$30,000	$10,000-$50,000	$190,000	$30,000
Financial Services	27%	$175,000	$110,000-$284,000	$50,000	$10,000-$70,000	$175,000	$50,000
Investment Banking	13%	$175,000	$175,000-$225,000	$50,000	$30,000-$70,000	$175,000	$50,000
Investment Management	5%	$175,000	$145,000-$200,000	$47,500	$15,000-$70,000	$145,000	–
Other	4%	$150,000	$120,000-$161,017	–	–	$150,000	$30,000
Private Equity/Venture Capital	3%	$150,000	$150,000-$284,000	–	–	$160,000	–
Commercial Banking	2%	$140,000	$110,000-$185,000	$25,000	$10,000-$30,000	$175,000	$50,000
Technology	13%	$145,000	$65,955-$185,000	$55,000	$7,000-$110,200	$147,500	$35,000
Healthcare/Pharma/Biotech	7%	$140,000	$125,000-$200,000	$30,000	$3,000-$100,000	$135,000	$30,000
Consumer Goods-Retail	6%	$132,500	$110,000-$156,000	$32,500	$5,000-$40,000	$128,000	$22,500
Energy	3%	$164,100	$125,000-$185,000	$30,000	$10,000-$55,000	–	–
Manufacturing	2%	$140,000	$130,000-$176,000	$20,000	$10,000-$25,000	$135,000	–
Govt/Nonprofit/Education	1%	–	–	–	–	–	–
Media/Entertainment/Sports	1%	–	–	–	–	–	–
Real Estate	1%	–	–	–	–	–	–
Transportation	1%	–	–	–	–	–	–
ALL INDUSTRIES	100%	$175,000	$65,955-$284,000			$175,000	$30,000

COMPENSATION REMAINS STRONG & REMARKABLY STABLE

The class median salary and signing bonus were flat for a fourth straight year, at $175,000 and $30,000, respectively. One compensation trend does stand out: median total pay contracted slightly to $199,900 from $200,200 – a shift that had nothing to do with salaries or bonuses themselves, but with the percentage of graduates reporting a signing bonus, which slipped to 83% from 84%. That single-point change was enough to nudge total compensation down by $300 – an exact reversal of last year, when Tuck grads’ total pay rose from $199,900 to $200,200 because the percentage reporting a bonus grew to 84% from 83%.

Stephen Pidgeon, executive director of career services, says in the school’s announcement of the results that the outcomes reflect both the talent of the class and the culture surrounding them. 

“T’25s entered a dynamic hiring market and rose to the task,” he says. “Their outcomes are a reflection not only of their remarkable talent, but also of the tight-knit and supportive community that surrounds them.”

A CULTURE THAT CARRIES THROUGH TO EMPLOYER OUTCOMES

Industry outcomes for Tuck MBAs in 2025 show modest but meaningful shifts. Consulting remained Tuck’s largest destination at 41% of accepted offers, down from 44%, followed by financial services at 27%, down from 27%, and technology at 13%. The increase in tech hiring is notable, representing a recovery from the contraction to 10% that weighed on the Class of 2024.

Consultants from the class reported the highest median salaries, at $190K, followed by those in financial services – notably those in investment banking and investment management – at $175K. Altogether these grads account for 68% of the 2025 class. Techies reported a median salary of $145K – but also the highest median signing bonus at $55K. One tech grad reported the highest bonus in the class: $110,200.

‘COMMITMENT TO LEADING COLLABORATIVELY’

This year’s overall high salary of $284K, meanwhile, for a grad who went into private equity, far surpasses the top salary of 2024, which was $225K for an investment banker. But the low salary of $65,955 is much lower than last year’s $100K.

Pidgeon stresses that the collaborative ethos behind Tuck’s performance is not a new development.

“Year after year, our students distinguish themselves with their commitment to leading collaboratively, creating spaces where all can contribute and success is achieved collectively rather than individually,” he says.

DARTMOUTH TUCK MBAs BY INDUSTRY, 2021-2025

Industry	% of Grads	% of Grads 2024	% of Grads 2023	% of Grads 2022	% of Grads 2021
Consulting	41%	44%	46%	47%	36%
Financial Services	27%	24%	23%	20%	23%
Investment Banking	13%	17%	14%	13%	11%
Investment Management	5%	1%	3%	2%	5%
Private Equity/Venture Capital	3%	2%	3%	2%	3%
Commercial Banking	2%	–	–	–	–
Other	4%	2%	2%	3%	3%
Technology	13%	10%	14%	11%	15%
Healthcare/Pharma/Biotech	7%	8%	6%	9%	13%
Consumer Goods-Retail	6%	6%	6%	5%	5%
Energy	3%	1%	2%	2%	2%
Manufacturing	2%	1%	2%	2%	2%
Govt/Nonprofit/Education	1%	1%	1%	2%	2%
Media/Entertainment/Sports	1%	1%	1%	1%	1%
Real Estate	1%	1%	1%	1%	1%
Transportation	1%	1%	1%	1%	1%
Other	NA	NA	NA	1%	1%
ALL INDUSTRIES	100%	100%	100%	100%	100%

Source: Dartmouth Tuck

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