The coronavirus pandemic is retreating further and further into the business education of graduates – in some ways more than others. The latest sign of a full recovery for MBAs is the preliminary employment report from Emory University, which announced astonishing numbers for 2021 graduates of the two-year full-time MBA program on Monday, October 4. Goizueta Business School.
The global health crisis has hit Emory Goizueta MBAs harder in 2020 than most of their counterparts in other schools. Job postings and acceptances fell at Emory, both dropping 5 percentage points, the first slipping to 92% and the last to 90%. By graduation, only 83% of Emory MBAs had received job offers.
But the new class reversed the losses, and then some: Three months after graduation, 99% of Emory’s MBA class of 2021 had received and accepted job offers. Upon graduation, 91% of the class received a full-time offer, which is an 8% increase over the previous year. The two scores represent the best employment rates in the history of the school.
“LUCRATIVE AND fulfilling CAREERS”
It’s not just the placement rates, it’s also the money. Last year, Emory MBAs earned an average base salary of $ 130,112, up from $ 127,248 in 2019. This is about 2.2% and it was among the lowest starting salaries among the Top 25 in 2020. .
Now, Goizueta reports that this year’s MBAs earned an average starting base salary of $ 134,700, up $ 4,588, or 3.5%. Over the past four years, Emory MBA salaries have increased by nearly $ 14,000.
Additionally, Goizueta’s 2021 MBAs also saw an increase in signing bonuses, with the class average rising from $ 28,076 to $ 29,151 in 2020.
“We are so proud of our 2021 graduates and look forward to seeing all the ways these principled leaders impact business and society,” said Maureen Manion-Leone, Associate Dean and Executive Director of Graduate Career Management Center of the Goizueta Business School.
“The Goizueta MBA is the only leading MBA to offer world-class academics and small-scale courses delivered in a vibrant, global city. We are delighted to continue to see our program bear fruit in lucrative and rewarding careers for our graduates. “
THE COUNCIL STILL KING, BUT FINANCE AND TECH CONTINUE TO GROW
Where do Emory MBAs find these “lucrative and rewarding careers”? More and more, outside of counseling, which has traditionally been the school’s main industry. This year, even as the board rebounded from a year of decline, placement rates also increased in financial services (to 23% from 18%) and technology (to 20% from 16%), as big banks – Bank of America, JP Morgan, Capital One, Citigroup, Deutsche Bank, Truist and Wells Fargo – and Big Tech – Amazon, Google, Facebook, Microsoft and Salesforce – paid particular attention to talent from Atlanta.
Consulting, however, is still king at Emory Goizueta, with 37% of 2021 graduates entering the industry, up from 34% last year – one of the lowest years for the school’s consultants, a year that increasingly looks like an outlier. (Almost half – 45% – of the entire Class of 2019, for example, entered the industry.) Consultants in the Class of 2021 earned an average salary of $ 148,007 and a median of $ 158,000, the latter amount being down slightly from $ 160,000 last year (see table above).
And while tech companies have done their part by hiring Emory, four of the top eight companies that accepted Goizueta MBAs this year were household names in the consulting world: Deloitte, EY, PwC and McKinsey.
Goizueta’s MBAs have also extended their presence to the west and northeast, but particularly to the south – no surprise since 75% of Fortune 1000 companies are now present in Atlanta. More than half of Goizueta graduates chose the South (53%) over other regions, while 30% took jobs in the Northeast and on the West Coast.
The Goizueta Career Center will release the full MBA Class 2021 Employment Report and the Class 2022 Internship Report in the coming weeks.
DON’T MISS MEET EMORY GOIZUETA’S 2021 MBA CLASS AND CONSULTATION SHEETS, SALARIES INCREASE FOR EMORY MBAs
And be sure to check out the other Poets and Quants stories about 2021 job reports:
THE YEAR OF REBOUND: RECORD REMUNERATION AND PLACEMENT IN THE DARDEN MBA CLASS OF 2021
BIG JUMP IN MBA TECH JOBS IN 2021 CHICAGO BOOTH REPORT