CMU Tepper 2021 MBAs Achieve Highest Employment Rate in a Decade
According to the 2021 MBA employment report from Carnegie Mellon University’s Tepper School of Business, this year’s employment rates are the highest for Tepper MBAs in a decade. The Tepper MBA Class of 2021 also boast impressive salary results.
Within three months of graduation, 95.7% of graduates received a job offer and 94.5% had accepted a job offer. Tepper’s extensive network and resources, including the work of the career center, internships, resume books and referrals, faculty and alumni referrals, campus speakers, treks, club events, and class projects, facilitated 76% of employment.
The median salary this year is $134,000, holding onto the 10% increase reached in 2020. The median signing bonus is $25,000, with 85.6% reporting receiving one as part of their compensation.
Here are some key statistics from the report:
|Biotech, Health & Pharmaceuticals||9.7%|
Where Tepper Graduates Find Success
Tepper MBAs established careers in an array of industries. More than a third—33.7%—went to work in the consulting industry, followed by 28% in technology. Financial services took in 12.6% of Tepper grads. Biotechnology, pharmaceuticals, and health recruited 9.7% of the class, and 5.7% went into manufacturing.
The class dispersed across the U.S. relatively evenly compared to many other schools, with 28.6% and 26.9% moving to the technology and commerce hubs of the Northeast and West, respectively. Owing partially to the location in Pittsburgh, 17.1% stayed in the Mid-Atlantic region. 13.7% went to the Midwest, which was also where the highest median salary was reported at $150,000. Another 8.6% found work in the Southwest, and 2.9% in the South.
Tepper also offered a breakdown of salary by undergraduate major in their employment data. Technical undergraduate degree holders, who made up 49.7% of the MBA graduates, have a median base salary of $144,500; while business majors, who made up 28.6% of the class, are showing a $125,000 median base salary.
In the school’s announcement, Dean of the Tepper School Isabelle Bajeux-Besnainou stated, “I continue to be impressed and inspired by the dedication and perseverance of our students and their support systems here at the Tepper School. I could not be more proud of the successful employment and career outcomes that we have seen for our Full-Time MBA graduates. Together, we are building the future of industries, and this report demonstrates the impact of their work.”