In yet another record breaking year, 99% of Tuck School of Business’s class of 2015 have secured job offers within three months after graduation.
The median base salaries have gone up by 8% to $125,000 this year. Jonathan Masland, Tuck Career Development office (CDO) executive director attributes it to the fact that “everyone in our office gets to know each student so we can connect them with the right knowledge and people for their chosen career path.”
The overall distribution of students by business sector and industry remains much the same as in the previous year. About 34%, that is more than a third (34 percent) of the 2015 graduates got into consulting roles, down just slightly from last year’s 35 %. Industry giantsMcKinsey & Company, Bain & Company and the Boston Consulting Group grabbed 43 students, or 18 % of the overall class.
The financial services sector attracted 24% of the class—the second-largest share. They were absorbed into investment banking, investment management, private equity and venture capital.
The Tech sector hired 18% of the graduates, with firms including Microsoft, Google andAmazon. Tech companies have been increasingly focusing on Tuck graduates as six or seven years ago, less than 10% of the job offers were from this sector.
Masland attributes the interest not only to increasing demand from the sector but also to resources and opportunities the school offers to students interested in tech careers. He cites as example, the Silicon Valley Boot Camp, an event organized by the CDO each year that lets incoming students explore tech-related career opportunities while networking with employers and alumni in the industry.
Companies in the retail and consumer package goods (CPG) sectors wooed more Tuck graduates than they have in the past, 10 % of the latest class, up from 7% in previous year. Juan Giovaneli, took a position at Colgate-Palmolive, after successfully switching from corporate communications to marketing during his graduation at Tuck. He went on to become an assistant brand manager at the CPG firm, completing a rotational program that will expose him to various different parts of the business.
The graduates are also full of praise for the Tuck alumni network for their successful career searches. Erica Johnston, chose Tuck for its strength in general management and marketing, hoping to transition from a job in manufacturing into a career in the food industry. Guided by the CDO, she connected with a Tuck alumna, Lauren Tankersley, MBA’07, who helped arrange a summer internship for her in Denver working for WhiteWave Foods, the maker of Silk soy milk, where Tankersley is a marketing director.
Another alumna, Sue Allon (MBA ’89)—who is a member of the Tuck Board of Overseers and lives in Denver—extended an offer to Johnston to live at her house for the summer and use her extra car. “I was just blown away,” Johnston said in the article on the Tuck website. “To have a place to call home for the summer that was rent free, and a family to live with, it was just a wonderful experience.”
CLASS OF 2015 EMPLOYMENT DATA
Base Salaries by Industry
|Private equity, venture capital||2||138,750||142,500||120,000||150,000|
|Consumer goods, retail||10||104,158||102,000||80,000||150,000|
|Healthcare, pharma, biotech||6||113,078||115,000||90,000||140,000|
Base Salaries by Function
|Private equity, venture capital||5||120,250||122,500||75,000||155,000|
Base Salaries by Location
|Northeast (CT, ME, MA, NH, NJ, NY, RI, VT)||51||127,257||130,000||75,000||170,000|
|New York Metro||21||124,721||125,000||80,000||170,000|
|West (AK, CA, HI, ID, MT, NV, OR, UT, WA, WY)||20||124,405||125,000||85,000||147,000|
|San Francisco Bay Area||10||128,363||125,000||110,000||147,000|
|Midwest (IL, IN, IA, KS, MI, MN, MO, NE, ND, OH, SD, WI)||8||116,126||109,000||96,000||140,000|
|South (AL, AR, FL, GA, KY, LA, MS, NC, SC, TN)||5||124,500||132,500||100,000||160,000|
|Southwest (AZ, CO, NM, OK, TX)||5||119,500||122,500||95,000||140,000|
|Mid Atlantic (DE, DC, MD, PA, VA, WV)||3||125,429||125,000||103,000||140,000|
*Values are excluded where the sample size is too small.
All data as of November 2015.
Base Salaries and Bonuses
|Compensation1||% Receiving||Mean ($)||Median ($)||Min ($)||Max ($)|
|Annual base salary||100||123,900||125,000||63,466||170,000|
1 Compensation information is self-reported. Salary data were obtained from 85% of those graduates who were seeking employment and accepted a job offer by 3 months after graduation.
Timing of Offers
|By Graduation1||By 3 Months after Graduation|
|U.S. Permanent work authorization||166||154||93||166||100|
|Non-permanent work authorization (U.S.)||79||71||90||76||96|
|Total graduates seeking jobs||245||225||92||242||99|
Timing of Acceptances
|By Graduation||By 3 Months after Graduation|
|U.S. Permanent work authorization||166||140||84||162||98|
|Non-permanent work authorization (U.S.)||79||64||81||71||90|
|Total graduates seeking jobs||245||204||83||233||95|
1 The graduation date for the full-time MBA class was June 13, 2015.
CLASS OF 2016 SUMMER INTERNSHIPS DATA
Base Monthly Salaries by Industry
|Percent (%)||Average ($)||Median ($)|
|Private equity, venture capital||5||4,745||4,563|
|Consumer goods, retail||12||6,171||6,805|
|Healthcare, pharma, biotech||7||7,611||7,317|
|Media, entertainment, sports||3||4,452||4,390|
Base Monthly Salaries by Function
|Percent (%)||Mean ($)||Median ($)|
|Private equity, venture capital||5||5,302||4,997|
Base Monthly Salaries by Location
|Percent (%)||Mean ($)||Median ($)|
|Northeast (CT, ME, MA, NH, NJ, NY, RI, VT)||50||8,430||8,500|
|New York Metro||26||9,110||10,400|
|West (AK, CA, HI, ID, MT, NV, OR, UT, WA, WY)||18||7,592||8,000|
|San Francisco Bay Area||10||7,283||7,200|
|Midwest (IL, IN, IA, KS, MI, MN, MO, NE, ND, OH, SD, WI)||10||8,095||7,352|
|Mid-Atlantic (DC, DE, MD, PA, VA, WV)||6||6,633||6,502|
|Southwest (AZ, CO, NM, OK, TX)||4||9,549||11,700|
|South (AL, AR, FL, GA, KY, LA, MS, NC, SC, TN)||2||9,655||8,500|
|Outside United States||10||6,007||6,427|
100% of the Class of 2016 who were seeking internships found internships.
All data as of November, 2015.
Image Courtesy Wikimedia