MBA Graduate Jobs: Olin Business School

By Louis Lavelle Updated Aug 20, 2019

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Introduction
MBA graduate jobs in consulting down but financial services recover
Rise in importance of MBA Internships in securing job offers

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If there’s a moment of truth for business schools, this is it: three months after graduation, when many MBA programs take collective stock of their ability to find work for graduates and report it to the world.

First out of the gate this year is the Olin Business School at Washington University in St. Louis, which reported that 96% of MBA graduates from the Class of 2014 received job offers, the same as last year, but the numbers for financial services and especially consulting are different from last year.

The median base salary for MBA graduate jobs, US$100,000, and median signing bonus, US$15,000, also did not change. Salaries for Olin MBA graduate jobs increased by US$5,000 to US$95,000 in 2012 and again to US$100,000 in 2013, so the 2014 figure represents a levelling off of long-term compensation trends especially in the financial services and consulting sectors.

MBA graduate jobs in consulting down but financial services recover

One possible reason: fewer MBA graduate jobs were found in the high-paying industry of consulting. Olin reports that 9% took jobs in consulting, where the median salary is US$110,000, down from 11% in 2013. Having said that, 21% took jobs in financial services this year, where the median salary is US$100,000, a substantial increase on 2013’s 16%.

Among the six industries where Olin reported median salaries in both 2013 and 2014, salaries were flat in financial services, and down in consumer products, pharmaceuticals, consulting, and manufacturing, with the biggest decline in consulting, where salaries fell by US$10,000 or 8.3%. Graduates who took tech jobs, which grew from 8% of the class to 11%, saw much higher salaries, with the median pay up US$8,500 or 9.4% to US$98,500.

The highest salary this year, US$135,000, went to someone who took a consulting job, while the lowest, US$60,000, went to someone with a position in consumer products. However, salaries were not reported for several industries that employed very few graduates, including real estate and nonprofits.

Rise in importance of MBA Internships in securing job offers

Interestingly, MBA internships became far more important this year, with 42% of all MBA graduate jobs coming from summer internship employers, up from 35% in 2013. Far fewer graduates took jobs in the Midwest (55% of the class, down from 63%), but more were employed in the South (7% of the class, up from 3%) and Southwest (15% of the class, up from 7%).

International placements were also way down, with just 4% of the class taking jobs outside the US compared to 9% in 2013.