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Chicago Booth Employment Report: MBA Class of 2022 Lands Higher Median Salary

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The employment report for the MBA Class of 2022 at the University of Chicago Booth School of Business reveals a higher median salary over the Class of 2021.

Of the 563 members of the graduating class, 88.5 percent (or 498 students) were seeking employment. At graduation, 93.1 percent of these MBAs had received a job offer, and nearly 97 percent had received offers three months post-graduation. Job acceptances at the three-month mark landed at 95.6 percent. The median salary for graduates is $175,000, a $20,000 increase over last year’s class. Meanwhile, the median signing bonus, reported as part of their compensation package by 72 percent of the class, came in at $30,000, which is $5k less than last year’s class.

Booth-facilitated channels were responsible for 77.5 percent of job placements, including 45 percent hired through summer employment.

Chicago Booth MBA Employment Report: Top Industries for Class of 2022

Consulting and financial services claimed nearly the same numbers of students. While 35.5 percent of Booth MBA graduates chose to join consulting, 35.1 percent pursued financial services. Breaking down financial services further, nearly 11 percent entered investment banking/brokerage, and about seven percent each entered private equity or diversified financial services. Jobs in the tech sector dropped about eight percent, compared to last year, to about 15 percent, but tech still claims one of the top industries for the graduating class. Healthcare and consumer products rounded out the top five industries with 4.1 percent and 2.2 percent respectively.

Chicago Booth MBA Employment Report:
Top 5 Industry Placement

Consulting 35.5%
Financial Services 35.1%
Technology 14.9%
Healthcare 4.1%
Consumer Packaged Goods 2.2%

Nearly three percent of the MBA class, or 18 students, started their own business or took on entrepreneurial ventures upon graduation. About seven percent 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. Like last year, 22 companies had hired four or more graduates from Booth. Of note, McKinsey & Co. hired 61 newly-minted Booth MBAs–15 more than last year. BCG hired 53 and Bain & Co. hired 28 recent Booth MBA graduates. Twenty-two Booth MBAs joined, Inc. and 11 headed to Google. Regarding financial services, Credit Suisse and Goldman Sachs toped the sector with 11 Booth hires each.

Chicago Booth MBA Employment Report: Top U.S. Regions for Class of 2022

In the U.S., the Midwest was where almost a third of the class—30.9 percent—found work; 27 percent overall remained in Chicago. The Northeast took over second place from the West, attracting 29.2 percent of graduates with 25.1 percent relocating to New York. Another 20.1 percent headed to the West. In the Southwest, 5.6 percent accepted jobs and 3.9 percent went to the South. The Mid-Atlantic was the career destination for 4.5 percent of the class. Settlers in the Southwest reported the highest median salary at $180,000.

Booth MBA Employment Report:
U.S. Regional Placement

Midwest 30.9%
Northeast 29.2%
West 20.1%
Southwest 5.6%
Mid-Atlantic 4.5%
South 3.9%

Nearly six percent headed abroad for work, with Asia topping the list of destinations at three percent of the class.

Lauren Wakal
Lauren Wakal has been covering the MBA admissions space for more than a decade, from in-depth business school profiles to weekly breaking news and more.