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LBS MBA Employment Report: Consulting is Top Choice for Class of 2023

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The 2023 MBA Employment Report from London Business School (LBS) demonstrates that demand for LBS graduates remains strong.

“The last year has been particularly challenging with many employers reducing their need for talent or withdrawing from the market altogether,” wrote Christian Dummett, the executive director of the LBS Career Centre, in the school’s report. “Nevertheless, demand for LBS talent continues to transcend borders, sectors and markets. Our 2023 class – made up of 65 nationalities – secured roles in 30 locations around the world, with more than half (55%) of the class choosing to start their post-programme careers in the UK.”

Within three months of graduation, 91% of the class had received an offer of employment, and 90% had accepted one. Thirty-seven MBA graduates started their own business after receiving their degrees. The mean salary for the class in US dollars is $120,238. Additional compensation, received by 85% of students who accepted an offer, averaged $60,775.

LBS MBA Class of 2023 Industry Choice & Placement

The consulting industry is historically the number one sector for LBS graduates, and this year 45 of the MBA graduates started consulting careers–an eight percent increase over last year. McKinsey & Co. hired 64 LBS grads, BCG took in 37 and Bain & Co. hired 35. Financial services landed in second with 26% of newly-minted LBS graduates joining the sector. A breakdown of finance shows that seven percent each pursued investment banking or private equity, followed by five percent taking on roles in investment management. Technology jobs fell eight percent compared to last year’s class to 21% for the Class of 2023. Regarding tech, Amazon was again the most popular firm, taking in 14 LBS graduates this year. Last year, Amazon hired 25 LBS MBA graduates. Two percent or less took on roles in consumer goods and retail, energy and other fields.

LBS MBA Employment Report:

Consulting 45%
Financial Services 26%
Technology 21%
Other 8%

LBS is a decidedly international institution, with 90% of the class coming from outside the UK. After graduation, 55% remained in the UK to begin their post-MBA careers. The next most significant portion of the class, 12%, went to Asia, and 10% to North America. Eight percent settled in Europe (excluding the UK) and seven percent each headed to MENA or Latin America. The highest mean salary was reported in MENA at $239,886.

LBS MBA Employment Report:
International Placement

UK 55%
Asia 12%
North America 10%
Europe (excl. UK) 8%
Africa & Middle East 7%
Latin America 7%

The school provided data on students who used their time in the MBA program to change careers: 50% moved to a new location upon graduation, and 55% switched their sector. Roughly a third of the class, 30%, changed both their location and job sector when they graduated.

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.