The University of Texas Austin McCombs School of Business has released its 2020 MBA employment report. This year saw an increase in MBAs entering technology careers, one of McCombs graduates’ strongest industries, and the utilization of the school’s vast employer and alumni network to keep candidates competitive in the slowing economy.
Eighty-eight percent of the class received an offer within three months of graduation with 85.6 percent accepting offers in the same time frame. McCombs facilitated 79.5 percent of job opportunities through internships, recruiting through Texas McCombs corporate partner ecosystem, alumni and staff networking, or other UT Austin resources.
McCombs generally sees between 20 and 26 percent of their MBA graduating class go to work in the tech industry, but this year 31.8 percent of graduates started technology jobs. Twenty-two percent joined the consulting industry followed by 17.8 percent starting careers in financial services. Nearly eight percent joined consumer products while the energy and healthcare fields tied for the fifth strongest industry with 5.1 percent of the class. McCombs’ strong showing in the energy sector is a benefit of location and its Energy Finance concentration offering.
Just 3.3 percent of the class left the U.S. to begin their careers. Owing partly to the opportunities in Texas, particularly in Austin, a majority of MBAs—60.6 percent—stayed in the Southwest. Another 19.7 percent went to the West, primarily the Seattle area, while 5.6 percent went to the Northeast where the highest median salary was reported at $150,000. The Midwest saw 4.7 percent of MBAs go to work there, 3.3 percent in the South, and 2.8 percent in the Mid-Atlantic states.
The reported median salary for the MBA Class of 2020 is $125,000.