Wharton MBA Employment Report: Class of 2022 Earn Record Median Salary
The University of Pennsylvania’s Wharton School has released its MBA employment report for the Class of 2022, and graduates reported a record median salary.
Of the 852 graduating Wharton MBA students, 74.3 percent (633 students) sought employment. An impressive 98.7 percent of MBA graduates seeking employment received a job offer within three months of graduation, while 96.2 percent had accepted job offers. The median class salary was $175,000, a record high for the school.
Out of the roughly 20 percent of graduates not seeking employment, half (85 students) returned to their pre-MBA companies. Thirty-four percent (59 students) were self-employed or starting their own business.
Wharton MBA Employment Report: Industry and Regional Placement
Financial services careers are traditionally the most popular for Wharton MBAs, and according to the employment report, 38.6 percent of the Class of 2022 found work in that sector. That represents a roughly three percent increase over last year’s class. Consulting held on to second place at 24.3 percent, followed by technology at 16.9 percent. Nearly six percent pursued roles in health care. Retail once again rounded out the top five industry choices at 2.5 percent.
Over 95 percent of graduates accepted jobs in the US. Forty-three percent of graduates found work in the Northeast. The West was next most popular at 24.5 percent. The Mid-Atlantic states were the career destination for 9.6 percent of MBAs. Roughly six percent headed to the Southwestern U.S., followed by nearly five percent to the South and 3.5 percent to the Midwest. Nearly five percent total headed abroad, with nearly three percent settling in Asia and one percent in Europe.
The overall U.S.-based median salary was $175,000. In the Midwest, median salaries reached the highest at $175,500. The highest salaries by industry were found in financial services, with the median reported at $175,513.