Latest: Michigan Ross MBA Grads See Salary Boost Amid Pandemic; Amazon Returns to #1 Employer
Graduates of the Full-Time MBA Program at the Ross School of Business this year were recruited by top companies and with higher salaries and signing bonuses than in 2019.
With strong interest in consulting and tech, Michigan Ross graduates also landed opportunities in the industries and locations they wanted, according to the school’s annual employment report.
Among the highlights included in the 2020 employment report are:
Top hiring companies
Amazon was the largest employer of Ross Full-Time MBA talent, with 26 full-time hires for grads and 22 internships for the Class of 2021. EY, Boston Consulting Group, McKinsey & Co., and Deloitte rounded out the top five hiring companies of the most recent graduating MBA class.
Most sought-after locations and industries
Sixty percent of 2020 Full-Time MBA grads accepted jobs in Chicago, New York City, San Francisco, Los Angeles, or Boston. The top two post-graduation industries for the class were consulting (36%) and technology (25%).
Higher median salaries and signing bonuses
The Class of 2020’s median salary was $135,000, up from $129,000 from the previous year. Their average signing bonus also increased from $25,000 to $30,000.
Overall, more than 90% of the class had offers three months after graduation. This was down from 97% from the previous year, due largely to the pandemic’s impact on 2020’s recruiting season.
Tech is top industry for Class of 2021 internships
Technology (23%) was the top industry for rising MBA2 summer internships, followed closely by consulting (22%). The employment report also showed an increasing interest in finance, with over 16% of the Class of 2021 accepting internship offers in this industry. Of these, 12% were in investment banking, private equity, or venture capital.
Additionally, dozens of rising MBA2s were able to work on high-impact action-based learning projects as part of the Michigan Ross Business Consultant Corps this summer. These projects ranged in scope, but most were related to dealing with the challenges and opportunities posed by the COVID-19 pandemic. The companies also spanned an array of sizes and industries, and included popular post-graduation firms like Microsoft.