2016 Two-year MBA Employment Report

Transcription

1 Two-year MBA Employment Report

2 In this Report A letter from the Executive Director... 3 Class of 2016 Profile... 4 Class of 2016 Employment Summary Class of 2017 Profile... 9 Class of 2017 Internship Summary Career Management Center Staff Directory

3 A letter from the Executive Director Welcome to the 2016 Two-year MBA Employment Report for the Samuel Curtis Johnson Graduate School of Management at Cornell University. The entire Johnson community, including the Career Management Center (CMC), faculty, staff, alumni, and recruiters, is committed to the success of our students. As of three months after graduation, 94 percent of graduates had at least one offer of employment, up 2 points versus last year. This is the highest level we have seen in nine years. Employment for international and domestic students was virtually equal. Average base salary was up approximately 2 percent, to $121,228. The increase was driven by salary growth in consulting and finance, and this is our highest salary level to date. In fact, our salary levels were recently ranked #9 in the 2016 Bloomberg Businessweek survey. Key CMC Activities hosted almost 100 companies conducting 257 interview schedules conducted over 70 career programs approved more than 3,800 job postings, a 58 percent increase compared to prior year recruited and welcomed 22 new companies for on-campus recruiting conducted more than 330 meetings with companies collaborated with peers from other top business schools to host interview forums in New York City, Chicago, and the Bay Area represented Johnson at major MBA conferences and career fairs including the National Black MBA Association, National Society of Hispanic MBAs, Reaching Out MBA, Forté Foundation, Consortium for Graduate Study in Management, and Net Impact conducted more than 3,500 oneon-one student appointments CMC career advisors possess significant functional and industry expertise in their advising areas, having worked for companies such as McKinsey & Company, RBC Royal Bank, Castrol, Playtex, and Google. We conducted more than 3,500 one-on-one student appointments, hosted over 70 career programs, and organized a record number of corporate briefings and office hours. This year, we welcomed 22 new on-campus recruiting companies and held over 330 meetings with companies. As one of our recruiters commented, The quality of students is as high as ever, and we are happy to continue to recruit at Cornell. This sentiment is reflected in the 2016 Recruiter Survey for Bloomberg Businessweek, where Cornell landed in the #11 spot. Each year we experience the anticipation and joy of meeting incoming students, share their anxieties and optimism regarding job searches, and feel pride and satisfaction when they graduate and launch their new careers. Student achievements are made possible because of the unwavering commitment of the entire Johnson community. Unharness the power of more than 15,000 Johnson and 250,000 global Cornell alumni by contacting us today. Sincerely, Cynthia Saunders-Cheatham Executive Director, Career Management Center ccs86@cornell.edu 3

4 Class of 2016 Profile Demographics at Time of Admission, August 2014 Class size 284 Average age at entrance 28 Students with full-time work experience 99% Average years of full-time work experience 5 International 30% Women 28% Underrepresented Minorities (U.S. minorities) 14% Average GMAT 692 Residency by Domestic Region U.S. (U.S. Citizens and Permanent Residents Only) 70% Mid-Atlantic 11% Midwest 6% Northeast 27% South 6% Southwest 4% West 14% Other 3% Citizenship by Geographic Region Africa Sub-Saharan 1% Asia 18% China only 6% India only 7% Other Asia 6% Australia and Oceania 1% Europe Free Trade Area Countries 4% Non Europe Free Trade Area Countries 1% North America 70% U.S. only 65% Other North America 6% South America 6% Jennifer Garner, MBA 16 Senior Associate Brand Manager, at The Kraft Heinz Company The summer before my first year at Johnson, I had the opportunity to start early diversity recruiting via the Consortium Orientation Program. The support I received before even stepping foot on campus blew me away. From the CMC s weekly webinars and oneon-one calls with the executive director to mock interviews with current students and information sessions with alumni, the Johnson community went above and beyond my expectations and helped me secure multiple internship offers. Thanks to an incredible core curriculum, the collaborative learning environment, early leadership experiences, and performance learning during my first year at Johnson, I was fully prepared to over-deliver during my internship. I m thrilled to already have the chance to give back to Johnson with my company, who is recruiting on campus for the first time. 4

5 94% of students had job offers 3 months after graduation. 5 5

6 Class of 2016 Employment Summary Employment Profile Number of graduates 292 Number of students seeking employment (full-time) 263 Full-time job offers by graduation 84% U.S. work-authorized 84% Not U.S. work-authorized 85% Full-time job offers by 3 months after graduation 94% U.S. work-authorized 94% Not U.S. work-authorized 95% Full-time job acceptances reported 90% Sources of Jobs Accepted School-facilitated recruiting activities 62% Graduate-initiated job search activities 38% Mean Salary, Bonus, and Other Guaranteed Compensation Mean total $121,228 $30,904 $22,273 U.S. work-authorized $120,594 $30,591 $24,765 Not U.S. work-authorized $122,905 $31,716 $19,194 Salary, Bonus, Other Guaranteed Compensation, and Percent by Function Consulting $130,362 $28,459 $19,804 29% Finance $120,509 $42,086 $45,338 33% General Management $115,569 $23,537 $15,439 22% Human Resources $99,000 $20,833 * 2% Marketing $104,953 $23,786 $6,648 11% Other Job Functions $156,429 * * 3% Luis Arellano, MBA 16 Global Process Manager, Finance Operations at Google As an international student needing sponsorship, I knew the MBA recruiting process was going to be an intense and grueling experience, but to my surprise it also turned into an exhilarating selfdiscovery journey. Being able to rely on 270+ brilliant classmates and friends on top of a uniquely strong alumni network helped me to craft my story, polish my résumé, and finally enabled me to make a successful transition into the high-tech industry. I was fortunate enough to land an internship at Google. My Johnson experience prepared me well. Professor Schmidt s Data Analytics course coupled with the leadership and teamwork skills I developed in my first year were instrumental in converting the internship into a full-time offer. Numbers fluctuate from time of admission to graduation due to students pursuing dual degrees, the Employee Degree Program, and change in status. *Fewer than three students reported 6

7 Salary, Bonus, Other Guaranteed Compensation, and Percent by Function Detailed Consulting $130,362 $28,459 $19,804 29% Finance Financial Analysis $117,000 $16,667 * 2% Finance Investment Banking $127,027 $50,083 $86,500 17% Finance Managerial Finance $109,667 $34,357 * 5% Finance Other $119,742 $33,438 $35,400 6% Finance Private Equity $101,167 $20,000 * 3% General Management $115,569 $23,537 $15,439 22% Law $156,429 * * 3% Marketing $104,953 $23,786 $6,648 11% Other Job Functions $99,000 $20,833 * 2% Top Recruiting Companies Deloitte Consulting LLP Amazon.com, Inc. The Boston Consulting Group Citigroup Inc. EY (Ernst & Young) McKinsey & Company Accenture PLC Liberty Mutual Group Bank of America Bain & Company Deutsche Bank AG Microsoft Corporation RBC Capital Markets Samsung Electronics Co., Ltd. SunTrust Robinson Humphrey Salary, Bonus, Other Guaranteed Compensation, and Percent by Industry Consulting $132,525 $29,362 $19,804 25% Consumer Products $104,133 $24,107 $5,530 6% Energy and Utilities $112,625 $10,000 * 3% Financial Services $123,259 $42,175 $35,278 32% Health Care $110,090 $25,556 $18,750 5% Hospitality or Tourism * * * 1% Legal Services $165,714 $14,000 * 3% Manufacturing $105,632 $18,269 * 6% Media or Entertainment $105,833 * * 1% Other Industries $94,400 * * 2% Real Estate $101,400 $15,000 * 2% Technology $118,085 $27,498 $18,083 12% Telecommunications * * * 1% Salary, Bonus, Other Guaranteed Compensation, and Percent by Location U.S. $121,624 $31,160 $21,428 92% Mid-Atlantic $108,683 $25,500 * 4% Midwest $115,176 $24,306 $12,297 8% Northeast $124,693 $ $23,222 53% South $111,278 $38,833 * 4% Southwest $137,000 $21,333 * 5% West $116,160 $25,998 $16,108 18% Non-U.S. $116,646 $28,035 $26,015 8% Asia $123,330 $17,833 * 3% Australia and * * * 1% Oceania Central America $106,676 42,500 * 2% and the Caribbean Middle East and * * * 1% North Africa South America * * * 1% *Fewer than three students reported 7

8 Cody Mitchell, MBA 17, Roy H. Park Fellow Summer Associate, Corporate Development Program at Liberty Mutual Mean base annual salary I came to Johnson seeking an executive development program at a large, global, Fortune 100 company. Thanks to the CMC s corporate connections, I was able to find a company that fit my priorities, provides global exposure, and allows me to execute challenging business problems as a senior business consultant. Johnson does a great job of cultivating relationships with companies that fit its collaborative, generous, and global environment. for graduates is $121,228, an increase of $2,128 from the prior year. 8

9 Class of 2017 Profile Demographics at Time of Admission, August 2015 Class size 274 Average age at entrance 28 Students with full-time work experience 98% Average years of full-time work experience 5 International 35% Women 26% Underrepresented Minorities (U.S. minorities) 10% Average GMAT 697 Residency by Domestic Region U.S. (U.S. Citizens and Permanent Residents Only) 65% Mid-Atlantic 8% Midwest 5% Northeast 31% South 5% Southwest 5% West 10% Other 1% Citizenship by Geographic Region Asia 23% China only 6% India only 8% Other Asia 9% Europe Free Trade Area Countries 1% Middle East and North Africa 1% Non Europe Free Trade Area Countries 2% North America 67% U.S. only 60% Other North America 7% South America 5% 9

10 The CMC hosted more than 3,800 job postings, an increase of 58% compared to the prior year

11 Class of 2017 Internship Summary Employment Profile Number of students 288 Number of students seeking employment (full-time) 280 Internship offers by May % U.S. work-authorized 97% Not U.S. work-authorized 97% Internship offers by August % U.S. work-authorized 99% Not U.S. work-authorized 100% Internship acceptances reported 278 Sources of Jobs Accepted School-facilitated recruiting activities 68% Student-initiated job search activities 32% Mean Monthly Salary Mean total $10,091 U.S. work-authorized $9,948 Not U.S. work-authorized $10,421 Monthly Salary and Percent by Function Consulting $10,334 18% Finance $9,333 $1740% General Management $7,192 $2322% Marketing $7,121 $2715% Other $12,555 5% David Tse, MBA 17 Summer Finance Associate at DTE Energy I came to Johnson as a career switcher. When it came to do my professional search for internships, I was very much exploring unknown territory. Johnson s core curriculum, immersion program, and supportive community helped me successfully navigate this anxiety-filled process to receive multiple offers within my areas of interest and at top companies. I found that the CMC and other professional extracurricular activities served as the perfect bridge to connect students with alumni who are eagerly looking to recruit new Johnson MBAs. The relationships and network I built were key factors in my professional successes. 99% of students accepted internship offers. 11

12 Monthly Salary and Percent by Function Detailed Consulting $10,334 18% Finance Asset Management $8,902 4% Finance Investment Banking $11,022 17% Finance Managerial Finance $7,598 4% Finance Other $7,318 6% Finance Private Equity * 3% Finance Private Wealth Management $9,722 1% Finance Real Estate * 1% Finance Research $9,266 2% Finance Risk Management * 1% Finance Sales and Trading * 1% General Management $7,183 21% Law $13,224 5% Marketing $7,149 15% Other Job Functions * 1% Top Recruiting Companies Amazon.com, Inc. Bank of America PwC Citigroup Inc. McKinsey & Company Corning Incorporated EY (Ernst & Young) Liberty Mutual Group Deloitte Consulting LLP Goldman Sachs Group, Inc. Bain & Company UBS Securities LLC Deutsche Bank AG JPMorgan Chase & Co. Monthly Salary and Percent by Industry Consulting $10,518 16% Consumer Products $6,567 8% Energy and Utilities $6,160 3% Financial Services $9,449 35% Health Care/Pharmaceuticals $6,555 3% Legal Services $13,224 5% Manufacturing $7,644 8% Media or Entertainment * 1% Other Industries * 1% Real Estate $7,773 2% Technology $7,446 16% Telecommunications $8,452 2% Monthly Salary and Percent by Location U.S. $8,842 92% Mid-Atlantic $8,401 6% Midwest $8,619 8% Northeast $9,404 51% South $7,862 4% Southwest $8,147 4% West $7,912 18% Non-U.S. $8,655 8% Asia $8,670 4% Other International $9,333 1% Central and Southern America $7,940 3% 12 *Fewer than three students reported

13 Career Management Center Staff Directory Professional Advising Staff Cynthia Saunders-Cheatham Executive Director EMBA Alumni Advising Staff Laurie Sedgwick Director of Career Management Executive MBA Programs and Alumni Jacob Lehman 06 David Capaldi, MBA 95 Liz Arnold Lynne Allen Alumni Career Development (NYC) Nicole Woodard Executive MBA Programs (NYC) Liz Colodny Executive MBA Programs (NYC) Monica Touesnard Annie Marra Assistant Director Debbie Luk Operational Staff Holly Potter Campus Recruiting Manager Andrew Armitage Information and Research Manager Marcie Purcell Corporate Account Manager Kelly Crispell Corporate Account Manager Kate Mendillo Administrative Assistant Erin Kaminska Administrative Assistant 13

14 johnson.cornell.edu 14 lbd OMC