Michigan Ross MBA Class of 2021 Breaks 10-Year Employment Acceptance Rate Record
The University of Michigan’s Stephen M. Ross School of Business recently released the employment report for their MBA Class of 2021, and the record-breaking successes show the value of the institution’s degree in the labor market. A record-breaking 97.5 percent of the 416 Michigan Ross MBA graduates received job offers within three months of graduation. 96.2 percent of the grads accepted employment offers within three months of graduation, breaking a ten-year record at the business school.
High median salary packages also complement the high employment offer and acceptance rates. With a total median salary package of $171,450, which supersedes the 2020 class by six percent, the Class of 2021 set a record for high remuneration rates. The high acceptance rates and median salary package also hold for the international students, nearly 98 percent of whom had accepted employment offers within three months of graduation.
Brad Killaly, associate dean for Full-Time MBA programs at Michigan Ross, stated that the hiring and internship outcomes for 2021 show the strength and quality of the new graduates.
“This year’s hiring and internship outcomes are testament to the strength, quality, and caliber of our full-time MBA students, and the versatile and adaptable leadership strengths they bring to any organization,” Killaly stated.
An impressive 80.1 percent of the positions were on-campus or school-facilitated, 31 percent through on-campus recruiting, 25.1 percent chose to return to on-campus/school-facilitated internship, and 24 percent through other school-facilitated means. The other 19.9 percent either directly contacted the employers (10.8 percent) or got the job through off-campus job listings and personal networks.
These offers cut across several sectors, as well as new and established companies. Some popular organizations among Ross graduates included Amazon, McKinsey & Co, Boston Consulting Group, EY/Parthenon, Deloitte, Bain & Co Inc., Google Inc., Dell Technologies, PepsiCo Inc., Citi, and Microsoft Corp. The new companies include Plume, a telehealth company providing gender-affirming hormone therapy; Kitamba, a social impact consulting firm; and Fluence, Siemens, an AES-backed energy service company.
“We are excited to have new and innovative companies added to our Full-Time MBA students’ post-graduation career destinations, and I continue to be impressed with our office’s industry relations, coaching, and the professionally-coordinated peer support to help them land those opportunities,” said Heather Byrne, managing director of the Michigan Ross Career Development Office.
Industry Placement for the 2021 Michigan Ross MBA Graduates
According to the employment report, the highest percentage of the graduates chose positions in consulting firms. McKinsey & Co, Boston Consulting Group, and Bain and Co Inc. recorded 26, 19, and 9 hires, respectively. A significant percentage of the members of the 2021 class also opted for positions in tech companies, such as Amazon, Facebook, Google, Microsoft, and Apple. Financial services, consumer packaged goods, and the healthcare industries also recorded significant numbers of hires. Other members of the 2021 class chose placements in energy, manufacturing, retail, and other sectors.
|Consumer Packaged Goods||7.9%|
Consulting and financial services placements recorded the highest median salary packages at $165,000 and $150,000, respectively. Manufacturing, technology, and healthcare placements also recorded median salary packages between $132,000 and $130,000.
Regional Placement for the 2021 Michigan Ross MBA Graduates
Top regional placements for the grads include the Midwest, West, and Northeast. Roughly 29 of the graduates landed jobs in the Midwest with a median salary of $150,000. Another 29.2 percent landed jobs in the West with a median salary of $140,000. The Northeast region also attracted 20.8 percent of Ross MBA grads with a median salary of $150,000. At 8.5 percent and 6.1 percent, respectively, the Southwest and Mid-Atlantic regions are the third and fourth regions with the highest placements. Others are the South (2.6 percent with a median salary of $160,000) and International (3.5 percent with a median salary of $109,051). Roughly three percent of Ross graduates headed abroad for work.