Chicago Booth 2021 MBA Employment Report: Booth MBAs in High Demand
Of the 563 members of the graduating class, nearly 82% (or 476 students) were seeking employment. At graduation, 92.9% of these MBAs had received a job offer, and nearly 98% had received offers three months post-graduation. Job acceptances at the three-month mark increased 5% over last year to 96.4%. The median salary for graduates is $155,000, while the median signing bonus, reported as part of their compensation package by 67% of the class, is $35,000.
Booth-facilitated channels were responsible for 75.8% of job placements, including 50.3% hired through summer employment. The school also provided a breakdown of salaries by undergraduate major, with graduates who hold a bachelor’s in business earning a median of $155,000 and those with a technical degree $150,000.
Chicago Booth MBA Employment Report: Top Industries for Class of 2021
As at most business schools, consulting, financial services and tech fill the top three spots of industry choices for the most recent graduating class. Roughly 34% entered the consulting industry, followed by 27% in financial services. Jobs in the tech sector jumped 6.6% from last year to 22.9%. Consumer products and healthcare rounded out the top five industries with 4.4% and 3.3% respectively.
|Consumer Packaged Goods||3.3%|
Nearly four percent of the MBA class started their own business or took on entrepreneurial ventures upon graduation. About 12% had been sponsored for their MBA, so returned to their respective companies.
Chicago Booth’s employment reporting goes a step further than most, identifying the specific number of hires at prominent firms. Twenty-two companies had hired four or more graduates from Booth. Of note, McKinsey & Co. hired 46 newly-minted Booth MBAs, 39 of whom were intern hires. BCG hired 36 and Bain & Co. hired 18. Thirty-four Booth MBAs joined Amazon.com, Inc. and eight headed to Google. Regarding financial services, Credit Suisse toped the sector with 10 Booth hires followed by Bank of America, JPMorgan and Goldman Sachs, each with eight hires.
Chicago Booth MBA Employment Report: Top U.S. Regions for Class of 2021
In the U.S., the Midwest was where almost a third of the class—29.6%—found work; roughly 27% overall remained in Chicago. The West attracted 26.8% of graduates with 14.6% relocating to the Bay Area. Another 21.8% headed to the Northeast. In the Southwest, 5.2% accepted jobs and 4.6% went to the South; these two regions reported the highest median salaries at $165,000. The Mid-Atlantic was the career destination for 4.1% of the class.
Nearly eight percent headed abroad for work, with Asia topping the list of destinations at 3.3% of the class.