According to the Graduate Management Admission Council (GMAC), 91% of recruiters planned to hire MBAs in 2021, with the median MBA salary at $115,000.
As you progress in your career, your earnings will only grow. The average MBA salary for Stanford MBA grads three years out of their degree is more than $220,000, while INSEAD MBAs earn average salaries of $180,000 three years after graduation.
But which companies offer the most promising salary prospects to MBA graduates?
Bain, BCG, McKinsey
The Big Three—McKinsey, BCG, and Bain—all offer base consultant salaries of $165,000, to which are added signing and performance bonuses.
McKinsey is one of the biggest recruiters of MBA grads, who make up nearly half of the company’s incoming consultants. In 2021, the high-profile consulting firm planned to hire its largest ever class of MBAs.
Grads tend to join at an associate level as generalists or practice consultants, supplementing their already impressive salaries with bonuses of over $30,000, according to data from Management Consulted.
IBM
Multinational company IBM offers various opportunities in technology, strategy, and operations for graduates interested in cutting-edge fields like AI and blockchain.
A chief technology officer (CTO), a job that entails combining strategic and technological expertise to manage research and development, can expect to earn an average base salary of at least $170,000, according to Glassdoor, making a role at IBM one of the best paid jobs in technology.*
Figures from Management Consulted
EY
Professional services firm EY planned to hire up to 300 MBA graduates globally in 2021, and around 80% of EY’s summer interns get offered full-time positions.
EY’s strategy consulting arm, EY-Pathernon, offers MBA grads the highest base salary figure on the market, at $170,000, according to Management Consulted.
Apple
Working at a tech giant like Apple is an appealing prospect for MBA grads, who are hired in a wide range of roles including finance, product management, supply chain management, and marketing.
A business development manager earns around $160,000, while a financial analyst can expect a salary of $130,000.
Deloitte
Deloitte Consulting offers MBA graduates base salaries of up to $135,000; Deloitte Federal $125,000; and Deloitte Government & Public Services $117,000. Meanwhile, MBA graduates joining Deloitte Human Capital and Deloitte Tech earn $160,000, according to Management Consulted.
Performance bonuses for MBAs vary across the organization but Deloitte Human Capital consultants can expect bonuses of up to $32,000.
US average salary figures according to Glassdoor
JP Morgan
Finance is a lucrative career path for MBA graduates.
An investment banking associate at JP Morgan can expect to earn around $150,000 and a trader around $110,000.
Accenture
Accenture offers a variety of opportunities across consulting, technology, and operations to MBA graduates.
A senior manager can expect to earn $195,000, while a technology consulting manager earns an average of $140,000.
PwC
Professional services firm PwC hires MBA grads in a variety of roles across consulting, business restructuring, risk management, and more.
A senior consultant can expect to earn $112,000, while a tax director can earn over $180,000.
You can also become an enterprise architect, one of the highest paid tech jobs. For an average base pay of $145,000, you’ll be responsible for things like improving business efficiency, reducing costs, and improving sustainability while managing the organization’s IT systems.
US average salary figures according to Glassdoor
Google tops the list of the world’s most attractive employers for business students in 2021.
Tech companies are hiring more and more MBA graduates, with GMAC reporting that 96% of recruiters from the technology sector planned to hire MBAs in 2021 compared with 80% in 2019.
MBA grads can use their strategic thinking, data analytics, and leadership skills to become senior product managers, earning an average of $227,000.
Goldman Sachs
Financial heavyweights like Goldman Sachs offer countless career opportunities in private equity, wealth management, and investment banking to MBA grads.
Senior analyst developers at Goldman Sachs can expect to make up to $130,000 and research associates up to $208,000.
Whichever sector is most appealing to you after your MBA, you have many options to turn your expertise and network into an impressive six-figure salary.
*Salary data in this article is sourced from Glassdoor and figures are US averages unless stated otherwise.
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