Boothies continue to prove that Chicago has some of the best MBA talent the world has to offer. At Booth, we believe in the power of data, and hope that you gain a clearer picture of the ROI behind a Chicago Booth MBA after reading more about the hard numbers. Here are our key takeaways from the Class of 2023 employment report:
Our Full-Time MBA Employment Report offers valuable information regarding where Booth students land after graduation in terms of function, industry, location, employer, salary, and more. You can filter the employment report by full-time jobs and internship data in order to see the full range of functions and industries where students are working both during their MBA and after graduation.
By three months post-graduation, 95.6 percent of our full-time students received a full-time job offer (94.4 percent for domestic graduates; 97.9 percent for international graduates). The Class of 2023 also saw another three percent increase in their median base salaries from the year prior, bringing our new median base salary to $180,000 (excluding sign-on bonus). With our median base salary among the highest for MBA graduates, Boothies are able to see the return on their investment soon after walking across the commencement stage.
In terms of job acceptances, 94.3 percent of graduates accepted job offers within three months of graduation (93.8 percent for domestic graduates; 95.2 for international graduates). Furthermore, 76.5 percent of graduates stated they had Booth-facilitated channels to thank for their secured positions. From on-campus recruiting and maintaining relationships with summer employers to job board connections and networking, we make sure our students are in great hands during their MBA experience and beyond.
From tech and private equity to consulting and financial services, our students have the opportunity to tackle a career in the field they desire most. The top five functions listed below make up 75.9 percent of hires, with all other functions making up the other 24.1 percent. When taking a look into industry interest, the top five industries listed below make up 80.5 percent of hires, with all other industries comprising the other 19.5 percent.
*Percentages in parentheses indicate top function pursuits for the Class of 2022
*Percentages in parentheses indicate top industry pursuits for the Class of 2022
Last year, we witnessed the Class of 2023 secure roles across the globe. Steady with previous years, the largest percentage (93.2 percent) of graduates were hired within the United States. Key regions include the Midwest (29.8 percent of the class, with Chicago making up 28.6 percent of Midwest percentage), the Northeast (27.2 percent), and the West (22.3 percent).
Internationally, Boothies continue to leave their mark as 6.8 percent (up from 5.9 percent in 2022) of graduates secured jobs in countries worldwide. Key international markets include Asia (2.8 percent) and Latin America (2.0 percent).
From classmates to colleagues, recent Booth graduates found themselves accompanied by fellow Boothies at their new jobs as dozens headed to the same firms this past fall. These companies include Alpine Investors, Amazon, Bain, Boston Consulting Group, Citigroup, Goldman Sachs, McKinsey, PwC Strategy&, amongst many others – remarkably, McKinsey hired the largest number of Booth graduates, with a whopping 71 Boothies securing roles at their offices.
Interested in learning more? We encourage you to check out the Full-Time MBA Employment Report to gather more insights from the Class of 2023 and years prior. We also encourage you to check out The Booth Experience blog and Instagram, along with our Full-Time MBA Blog to gather more student intel on the MBA experience at Chicago Booth.
We recently connected with Tosan to discuss his MBA journey and what his experience was like applying to our deferred MBA program. Read on to learn more.
Tosan Agbeyegbe
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