Chicago Booth Employment Report: MBA Class of 2020 Finds Success in a Changing Economy
The Chicago Booth School of Business has released its 2020 MBA employment report. Nearly 93 percent of the 2020 graduating class received job offers within three months of graduation–an impressive feat in the changing economy, but still down 3.5 percent from 2019. Overall, 91.4 percent of Booth MBAs accepted offers after graduation.
Chicago Booth facilitated over 80 percent of job opportunities across summer employer programs, the Entrepreneurial Internship Program, industry treks, campus interviews and the recruitment portal. Faculty and student groups, and Booth recruiting and networking events such as Corporate Conversation and Booth Panel Discussions also aided Booth MBAs in their job hunts.
Consulting is the school’s top industry where 38.2 percent of 2020 grads found jobs, a 4.5 percent increase over 2019. The financial services sector was the career choice for 30.3 percent, while tech industry jobs declined from 20.7 percent last year to 16.3 percent in 2020. Consumer products saw 4.8 percent of the class start careers in the industry and 3.5 percent went to work in healthcare, an increase from just 1 percent in 2019.
This year 91.4 percent of MBA graduates remained in the U.S. for work, up from 86.7 percent in 2019. The Midwest region saw a 4 percent increase to 32.7 percent of MBAs finding jobs there, while 24.6 percent went to the West and 22.6 percent went to the Northeast. Another 5.9 percent found jobs in the Southwest and 3.3 percent in the South, where Atlanta and Miami are among the highest median salaries, reported at $165,000. Just 2.2 percent of grads went to work in the Mid-Atlantic states, down from 5 percent in 2019, where the median salary was also reported to be $165,000.
The median salary overall for the class was $150,000, up from $145,000 in 2019.