The Cornell Johnson Graduate School of Management recently shared the employment report for their Two-Year MBA Class of 2019. Of the 282 graduates, 264 sought full-time employment post-MBA. Of those individuals seeking job opportunities, 94 percent received offers within three months of graduation, and 93 percent accepted.
According to David B. Capaldi, the director of the Career Management Center, these impressive stats, in part, have to do with the strength of career services and support at Johnson. He said, “One of the strengths of our team is the fact that the industry advisors all have work experience from the industries in which they advise. This allows them to provide hands-on knowledge of both firms, job functions, and skills needed. In addition, we all maintain some of the corporate relations role, which helps give real-time feedback to students on industry trends and hiring needs.”
The high placement rate of Johnson graduates can also be attributed to how early the school begins working with students. According to Capaldi, in many cases, students begin working on their future careers before they arrive on campus and continue working on their careers until they are placed. For example, “Last year, we launched Job Work Groups for students that were still seeking during the spring semester,” said Capaldi. “Small groups of students would meet with advisors every other week. I think these groups helped in a number of ways, but particularly with regard to idea generation and accountability.”
Top Industry: Financial Services
Of those who accepted a job, 37 percent chose to work in the financial services industry (with increasing interest in investment banking), 28 percent chose consulting, and 15 percent entered technology. But just because financial services is the top industry year-over-year for MBA graduates, that doesn’t mean it’s a narrow field.
“Johnson has always had strong placement in financial services, but I think it is important to clarify that the roles within financial services are very diverse,” explained Capaldi. “That number incorporates bankers, research analysts, corporate finance, and marketing. Outside of financial services and consulting, we are very diverse with placement in tech, consumer products, healthcare, and general industrial companies.”
Continued Increase in Salary
As for what these professionals are earning post-graduation, average base salaries have continued to rise year-over-year. The average reported base salary for the MBA Class of 2019—$131,150—was 4 percent higher than last year. And, when it comes to signing bonuses, the average signing bonus for the Class of 2019 was $35,976—a seven percent increase over last year. The highest bonus earners came from the financial services industry, where 81 percent of all employees earned an average bonus of $46,464.
New York City Metro Dominates
“Not surprisingly, the New York City metro area dominates where students are placed,” said Capaldi. “However, the West Coast has been quickly gaining ground over the past few years.” Fifty-three percent of the Two-Year MBA Class of 2019 settled in the Northeast, while 11 percent headed West. Another 10 percent landed in the Midwest and nine percent in the Southwest.
As for where these students are accepting jobs, overall, 203 companies recruited MBA graduates with 15 companies hiring the largest majority of students, including:
- Bain & Company
- Johnson & Johnson
- J.P. Morgan
- McKinsey & Company
Get the full Cornell Johnson Class of 2019 Employment Report here.