The University of Michigan Ross School of Business is celebrating another year of outstanding employment outcomes for its MBA graduates. The MBA Class of 2023 employment report reveals impressive statistics, and for the third consecutive year, the job offer rate has exceeded 95 percent, reflecting the consistently strong performance of Ross graduates.
“We are very pleased with the employment results for this year’s Michigan Ross Full-Time MBA graduates,” said Heather Byrne, managing director of the Career Development Office at Michigan Ross, in the school’s announcement. “The job market has been changing, especially in tech, and Ross grads continue to land jobs at great companies, showing how they are able to leverage our action-based learning curriculum, supportive alumni network, and maximize all of the resources provided to them.”
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A substantial 90.5 percent of students secured their first job offer by graduation, and 96 percent within three months. Ross is a consulting-heavy school, and 44.9 percent of graduates entered the industry. Another 15.5 percent entered the tech sector and 14.2 percent went into financial services. Healthcare and consumer packaged goods rounded out the top five industries represented, with 5.7 percent and 5.4 percent, respectively. Ninety-four percent percent of graduates are career-switchers, reflecting the utility of the MBA.
The three top employers for Ross MBA Class of 2023 graduates were the prestigious MBB firms: McKinsey & Co., Bain & Co. Inc., and the Boston Consulting Group. The median base salary for the Class of 2023 stands at $175,000, fueled by the large number of consulting grads who enjoyed the highest median base salary across all industries with $190,000.
Financial services job-takers reported a median base salary of $175,000, technology jobs reported $152,625, and healthcare jobs commanded a median base salary of $135,000. Ninety percent of accepted offers reported a signing bonus.
Geographic Career Hubs
A full two-thirds of the class accepted offers in the New York metro, West Coast, or Chicago, highlighting the school’s strong presence in these key employment hubs.
Unsurprisingly, the Midwest region had the highest employment rate at 31.1 percent, and is in a three-way tie for the highest median base salary by region with $175,000. The Northeast attracted 28 percent of graduates with $175,000 median annual earnings. The West Coast became the new home for 19.3 percent of grads, with a median salary of $162,750. The Southwest United States saw 10.5 percent of grads recruited with a median base salary of $163,463, the Mid-Atlantic has 5.7 percent and a $150,000 median salary, and the South, where employers recruited just 3.4 percent of the MBA class, is the third region with a median salary reported to be $175,000. Two percent of the MBA graduates went overseas to begin their careers.