Members of the class of 2012 from the University of Pennsylvania’s Wharton School of Business have been able to find truly diverse career paths. This month, the school released its annual career statistics report, and it contains much interesting information about the career choices of recent graduates. This year’s report from Wharton has many interesting trends that are worth exploring.
Just as in previous years at Wharton, consulting and financial services have been the most popular industry choices among recent graduates. About 40% have gone into financial services, and 26% have gone into consulting. Also, about 11% of recent graduates from this top MBA school have gone into technology-related fields.
According to the MBA career management director, the results of the survey this year at Wharton have met her expectations. “I have been very pleased with the results,” she said. She noted that 95% of students have gotten full time job offers. Also, the director said that her team at the Wharton school had put a great deal of effort into making sure that MBA students who were graduating had plenty of job opportunities.
This school also is doing a great deal to attract women to the MBA program, and they definitely are enjoying more demand after graduation. The Wharton report noted that in 2011 and 2012, a record number of women were attending the Wharton School. The report indicated that about 40% of the class at Wharton was female. This also has been found to be the case at Harvard Business School.
A student in the engineering program, who wants to get an MBA after graduation, said that he thought that the increased employment in the technology sector was interesting. He found it intriguing that the technology sector had one of the biggest increases in industry, even a larger one than the financial sector.
Overall, at Wharton the annual base salaries for 2012 MBA graduates ranged from $20,000 to $250,000. The median salary was about $120,000. Also, the signing bonus was at a median of about $20,000.
Many students at the MBA school did not find the results very surprising. Many were not surprised that many students continued to enter both financial services and consulting. This has been seen for many years, even with the downturn in the economy since 2008. Many companies in consulting and investment banking continue to hire a great deal from Wharton.
Still, the annual report did have some surprises. One of these was the number of MBA students who are not going into consulting this year. For some reason, more consulting firms were hiring Wharton graduates in 2011.
The data collection for this report is a process that goes year round. MBA students are able to report their offers via a career search portal that can be used to search for jobs. The next class report from the Wharton MBA school will be released in fall 2013.
Other reports have shown that graduates from Wharton have very good salaries that they can look forward to. One of the top graduates from the 2011 class managed to get a $300,000 signing bonus, and a starting salary of $375,000. Wharton does not disclose which industry this person was going into, but it is most likely a hedge fund or private equity position. Generally the best paid Wharton graduates go into those fields. However, you should remember that these are the top, top graduates who are not representative of the entire Wharton class.
Usually, these top graduates are people who worked in the high paying field before and are going back into it with a graduate degree. People who earn their MBA and switch careers are going to have to ‘settle’ for a salary of $100,000 or so.