The Wharton School has released its MBA Class of 2020 employment report, showcasing how its strengths in job placement and finance still stand even in the current climate of pandemic and economic recession.
There were 904 graduating students in Wharton’s Class of 2020. Of the 681 MBA graduates seeking employment, 93.5 percent reported receiving job offers and 91.6 percent accepted a job offer. This represents a slight decline over last year, however, considering the environment these graduates entered, it should be considered a success. Overall, the median salary remained steady at $150,000. The majority of the 17.6 percent of the class who were not seeking employment were company-sponsored and returning to their employer. Another three percent are starting their own business or are already self-employed.
One of Wharton’s strengths is in finance education, and this year’s financial industry placement continues to show that. Over 36 percent of the class entered financial services, a slight increase over last year. Nearly a quarter entered the consulting industry and just over 16 percent of the class went into the technology field. Rounding out the top five industries, 6.7 percent of Wharton graduates entered healthcare and 3.2 percent entered the retail space.
Choice of Functions
When broken down by function, nearly a third of graduates entered consulting roles, with 31.4 percent of the class represented. The next biggest function for grads is private equity at 14.7 percent. Another 10.3 percent took on investment banking roles, 5.9 percent are in investment or portfolio management, and 4.6 percent went into management functions (general, project, and management development).
The Northeast US dominated regional choice, with 41.6 percent going to work there this year. Meanwhile, 26.8 percent of the class pursued jobs out West. The median salary on the West Coast for Wharton MBAs increased from $145,000 last year to $155,000, a significant bump over the Northeast’s $150,000 median salary, which remained flat. Median salaries also rose for the Midwest, Mid-Atlantic, and Southwest. but fell in the South.
Although 33 percent of the class were international students, just 13.4 percent went to work overseas.