MBA graduate salaries revealed: Here’s how much graduates from the top business schools make

An MBA is an investment but students who attend top schools can graduate making six-figure salaries.
Consulting, finance, and technology were all popular industries for the class of 2021.
Here are the latest salaries — including signing bonuses — of eight top business schools.

Business school is an exciting prospect for ambitious professionals or aspiring entrepreneurs looking to level up their careers — and salaries.

Students from the top business schools in the world graduated last year with jobs that earn six-figure salaries. What’s more, they sought roles in financial services, consulting, investment banking, and technology and many received lucrative signing bonuses due to the competitive market for talent.

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After a surge at the start of the pandemic, applications held steady or decreased at top business schools for 2021, according to The Wall Street Journal. For example, Northwestern University’s Kellogg School of Management reported a 20% drop in applications to its MBA program for the incoming fall 2021 class. Columbia Business School reported a 6% decline, though the volume of applications was still higher than it was in 2019, when interest in many schools languished during a white-hot job market.

For those who are considering attending business school or who are currently enrolled, here’s what graduates from some of the top programs are earning across industries. Insider used US News & World Report’s list of best business schools for 2023 to rank the MBA programs. 

Catherine Henderson and Emeka Ochiagha contributed to an earlier version of this post. 

University of Chicago’s Booth School of BusinessA student at a graduation ceremony.

The University of Chicago Booth School of Business ranked first on US News & World Report’s business-school rankings for 2023, tied with the Wharton School at the University of Pennsylvania. 

The median salary for 2021 Booth graduates was $155,000, according to the school’s most recent report. The school estimates the annual cost of attendance for Booth students is $115,062.

The majority of graduates entered careers in consulting or financial services. The consulting giant McKinsey snapped up 46 Booth graduates in 2021, while Amazon, Bain & Co., Google, and JPMorgan Chase were also major employers of 2021 graduates.

Read more: Here’s the salary breakdown for the University of Chicago Booth School of Business’ class of 2021 across industries, including bonuses

The Wharton School of the University of PennsylvaniaStudents walking on pedestrian road near the University of Pennsylvania.

The Wharton School of the University of Pennsylvania is the world’s oldest collegiate business school and is tied for the top spot on US News & World Report’s business-school rankings. 

The median salary for 2021 graduates of Wharton was $155,000, while the annual cost of attendance was $118,568, according to the school. The majority of graduates entered consulting, financial services, or the technology industry — with two or more students receiving employment offers from prestigious firms such as Amazon, Bain & Co., BlackRock, Boston Consulting Group, Deloitte Consulting LLP, and Goldman Sachs. 

Read more: Here’s the salary breakdown for Wharton’s most recent MBA class across industries

Northwestern University’s Kellogg School of Management

The Kellogg School of Management at Northwestern University is tied as the third best business school by US News & World Report. 

The median salary for 2021 Kellogg graduates was $145,000 and the majority of students entered the consulting or technology industries. Nearly 90% of students received a job offer by graduation and 96% had an offer three months after graduation, according to the school’s 2021 employment report.

Read more: Here’s the salary breakdown for Northwestern University’s Kellogg School of Management’s class of 2021 across industries, including signing bonuses

Stanford Graduate School of BusinessStanford students celebrate graduation in Palo Alto, California.

Over in Palo Alto, California, Stanford Graduate School of Business came in third on US News & World Report’s business-school rankings.

Stanford reported the median salary for 2021 graduates was $158,400 with a median signing bonus of $30,000. The school estimated students would pay $124,389 for one year of tuition, plus expenses, for the 2022-23 academic year. Like peer institutions, Stanford saw a majority of graduates work in finance or consulting after graduation. 

Read more: Here’s the salary breakdown for Stanford’s most recent MBA class across industries, including signing bonuses

Harvard Business SchoolHarvard Business School students celebrate graduation.

Harvard Business School was ranked fifth on US News & World Report list.

Harvard reported the median salary for 2021 graduates was $150,500, with an expected bonus of $30,000. The school estimated students would pay $112,764 for one year of tuition — plus expenses — for the 2022-23 academic year. Students flocked to positions in consulting, private equity, and technology. 

Read more: Here’s the salary breakdown for Harvard’s most recent MBA class across industries, including signing bonuses

MIT Sloan School of ManagementGraduates hugging outdoors

The MIT Sloan School of Management tied for fifth place on US News & World Report’s ranking. 

The median salary for 2022 Sloan graduates was $148,000 and the majority of students report receiving a signing bonus. The estimated cost of attendance is about $120,000 and most graduates enter the consulting, finance, and retail industries after graduation.

Read more: Here’s the salary breakdown for MIT Sloan’s most recent MBA class across industries

Yale School of ManagementYale University in New Haven, Connecticut.

The Yale School of Management is seventh on the US News & World Report’s business-school rankings. 

Yale reported the median salary for 2021 graduates was $140,400, with a median signing bonus of $30,000. Meanwhile, Yale estimated students would pay $108,780 for one year of tuition, plus expenses, for the 2022-23 academic year. A large percentage of graduates entered the consulting and finance industries. 

Read more: Here’s the salary breakdown for Yale’s most recent MBA class across industries, including signing bonuses

New York University’s Stern School of BusinessNYU students celebrate graduation at Washington Square Park

The New York University Stern School of Business is 12th on US News & World Report’s business-school rankings for 2023.

The median salary for 2021 Stern graduates was $155,000, and the majority of students entered consulting or financial services, according to the school. The estimated cost of attendance, including room and board, was $121,541 — the second-highest tuition of the top 15 business schools.

Read more: Here’s the salary breakdown for NYU Stern’s MBA class of 2021 across industries, including bonuses

Read the original article on Business Insider

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