Amid the ongoing COVID-19 pandemic, Stanford GSB reports that graduates of the MBA Class of 2021 have rebounded in a strong job market. According to the freshly released employment report, 96% of students seeking employment received job offers within three months of graduation—a five percent increase over 2020. Ninety-one percent of GSB graduates seeking employment accepted positions within three months of graduation, which represents an increase of six percent over last year’s class.
“The Class of 2021 weathered the initial shock of the global pandemic as they pursued their summer internships in 2020, demonstrating grit and resilience,” said Jamie Schein, assistant dean and director of the Career Management Center, in the press release. “Those students then graduated into a robust job market where they found opportunities aligned with their values and where they could make an impact. Outcomes for the class are in line with previous years, and show a return to pre-pandemic offer timing with strong salaries.”
Stanford GSB MBA Employment: Industry Choices & Entrepreneurship for the Class of 2021
For the seventh consecutive year, Stanford GSB MBA graduates have seen an increase in mean and median starting salaries. The average starting salary for the Class of 2021 landed at $161,831 and the median at $158,400.
Out of 268 graduates of the MBA Class of 2021, 176 sought employment. A third of these latest graduating class members joined the finance industry. Twenty-nine percent entered the technology field, followed by 18% in consulting. Five percent chose to work in healthcare, and media rounds out the top five industries at four percent. In regards to function, business operations and management positions were the most popular at 26%. A fifth took on consulting roles.
Eighteen percent of the Stanford GSB MBA Class of 2021 are now dedicating their time to the launch of their new ventures. In regards to sectors, 37% started businesses in technology followed by 17% in finance. Eight percent launched ventures in healthcare and seven percent in energy.
Eight percent of the Class of 2021 were company-sponsored and another four percent continued their education instead of seeking employment.
Stanford GSB Employment Report: Did They Stay or Did They Go?
Ninety-three percent of those who sought employment found it in the U.S. Fifty-six percent settled in the West followed by 22% in the Northeast. The Midwest region took in seven percent of graduates and the Mid-Atlantic saw four percent of GSB grads. The South and Southwest each attracted two percent of the class. Three percent headed to Europe and one percent to Asia for their post-MBA employment.
Forty-nine percent of new entrepreneurs launched their companies in the U.S. West, followed by 27% in other parts of the U.S. Nearly a quarter started their new ventures outside of the U.S.
“More than other classes, the Class of 2021 learned how to deal with ambiguity and uncertainty, and to be adaptable and resilient,” said Dean Jonathan Levin in the press release.