Poets & Quants article on Wharton employment report:
After two years of steady gains, the median salary for Wharton MBA graduates remained flat at $150,000 this year, according to the school’s just-published 2020 employment report. That’s a big change from last year when Wharton’s 2019 graduates had reported significant gains in median salary, a $15,000 bump from $135,000 in 2018 to the $150K mark.
But while salaries remained steady in a coronavirus-plagued year, Wharton’s overall employment rate dipped a bit. Of 681 graduates seeking employment, 637 received a job offer three months after graduation, for a rate of 93.5% — down four and one-half percentage points from 98% last year. Some 91.6% reported accepting a job offer, also down from last year’s rate, which was 93.0%.
Wharton’s employment report is skimpy and late. It lacks the transparency shown by many of its peer schools and has been made public nearly a month later than usual. Last year, for example, the school’s employment report was made public on Oct. 23. More substantively, however, Wharton failed to disclose sign-on bonuses or what percentage of the class received them. The school also failed to include job offer and acceptance rates at graduation, preferring only to provide a more positive look at employment three months after commencement. Wharton also did not report on “other compensation” that is guaranteed to new MBA hires in their first year of employment.
The school also did not share the list of the largest employers of the class, preferring to list 65 companies that hired two or more graduates. That list includes many of the larger mainstream MBA employers, including the big financial players Goldman Sachs, Morgan Stanley, J.P Morgan, Blackstone, and BlackRock; big tech companies Apple, Amazon, Facebook, Google, IBM and Microsoft; and global consulting firms McKinsey, Bain and Boston Consulting Group. But it also includes such firms as Spotify, TicToc, and DoorDash.
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22 Oct 2020, 01:42
