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Kellogg MBA Employment Report Class of 2023: Record High Median Compensation & Consulting Placement

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The Two-Year MBA Class of 2023 at Northwestern University’s Kellogg School of Management achieved record-high median compensation, according to the employment report. 420 of the 501 graduates of the MBA Class of 2023 sought employment. Sixty-two students were company-sponsored or already employed while 11 started their own business. At three months post-graduation, 95 percent of newly-minted Kellogg MBAs seeking employment reported receiving a job offer.

Liza Kirkpatrick, Assistant Dean of the Career Management Center, remarks, “Students are landing jobs at incredible companies in challenging roles, empowered with tools through our Career Management Center, meaningful connections throughout the Kellogg network and business education that prepares them to succeed.”

The median base salary across all industries reached $175,000, representing a $10k increase over last year’s class. Those who reported a signing bonus maintained last year’s median of $30,000 this year. Combined, starting salary and signing bonuses landed at a median $207k, representing a record for Kellogg MBA graduates.

Here are some key statistics from the employment report:

Northwestern Kellogg MBA Employment Report:
Top 5 Industry Placement

Consulting 42%
Financial Services 22%
Technology 17%
Consumer Packaged Goods 7%
Healthcare 3%

The Midwest once again tops U.S. regional placement while the East took over second place from the West.

Northwestern Kellogg MBA Employment Report:
Regional Placement

Midwest 32%
East 28%
West 23%
South 11%
International 6%

Industry and Regional Placement 

Forty-two percent of the Kellogg MBA Class of 2023 entered consulting, a record placement for the school. McKinsey & Company, The Boston Consulting Group and Bain & Company were this year’s top employers.

The second most popular post-MBA industry was financial services, reclaiming the second spot in industry choice. Twenty-two percent of the class joined the field, claiming a median base salary of $190,000. Ten percent of the financial services group joined private equity. Tech followed at 17 percent. Consumer packaged goods and healthcare round out the top five industry choices, at seven and three percent, respectively.

Nintey-four percent of MBA graduates stayed in the U.S. Thirty-two percent decided to stay in the Midwest U.S. while 28 percent headed to the East. Twenty-three percent headed to the West region of the U.S. for post-MBA employment and 11 percent settled in the South. Six percent headed abroad for work.

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.