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Texas McCombs MBA Employment Report: Class of 2023 Earns Record Salaries

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The University of Texas Austin McCombs School of Business has released its 2023 MBA employment report. Of the 271 graduates of the Class of 2023, 239 sought employment. Nearly 79 percent received job offers by graduation and that number increased to 90.4 percent within three months of graduation. Those seeking employment set a new record, as they secured the highest average base salary in the school’s history of $157,735. The median salary landed at $175,000 with the overall range of salaries coming in at $48,000 to $225,000. The average signing bonus was $32,915 and the median was an even $30,000.

McCombs facilitated 80 percent of job opportunities through internships, recruiting through Texas McCombs corporate partner ecosystem, alumni and staff networking, or other UT Austin resources.

Industry Placement

Consulting took over the top spot this year from the reigning technology industry. Forty-three percent or reporting students joined the consulting industry, a 13 percent jump over last year. Technology placement dropped from nearly 42 percent last year to 15 percent for the MBA Class of 2025. Financial services hired 16 percent of recent McCombs grads, which is only slightly lower than last year’s class. Six percent entered the consumer goods industry while five percent joined energy/utilities.

McCombs MBA Employment Report:
Top 5 Industries

Consulting 43%
Financial Services 16%
Technology 15%
Consumer Goods 6%
Energy/Utilities 5%

Regional Placement

Owing partly to the opportunities in Texas, particularly in Austin, a majority of MBAs—69 percent—stayed in the Southwest. Placement in the Northeast followed at 13.4 percent. Nearly seven percent headed to the West U.S. Roughly five percent settled in the Midwest and roughly four percent in the South.

McCombs MBA Employment Report:
Regional Placement

Southwest 68.9%
Northeast 13.4%
West 6.7%
Midwest 5.3%
South 4.3%

The McCombs graduates who settled in the Northeast and Southwest reported the highest median salary by region at $175,000.

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.