Prepared by: S. David Ross, Associate Director January 2013
Family Care, 0.6% Other, 0.3% Employed Part- Time, 1.2% Seeking Employment, 0.6% Self-Employed, 5.1% Unknown, 0.9% Graduate School, 18.6% Employed Full- Time, 72.8%
Average Salary $109,143 Median Salary $100,000 Salary Range $40,000 - $225,000 Average Female Salary $98,928 Average Male Salary $117,148 Percent Receiving Annual Bonus 94% Average Bonus $100,997
Law and Non-MBA Master's, 0.3% Non-MBA Master's, 5.1% Law Only, 4.2% Doctorate Only, 1.5% Doctorate and Non-MBA Master's, 0.6% MD, 2.1% Other, 3.8% Unknown, 0.6% MBA and Non- MBA Master's, 1.2% MBA and Law, 0.3% MBA Only, 18.6% Bachelor Degree Only, 61.7%
Bachelor Degree Only Salary: $109,130 Bonus: $111,152 MBA Salary: $110,100 Bonus: $51,678 Non-MBA Master s Salary: $81,277 Bonus: * Law Salary: $137,389 Bonus: * Doctorate Salary: * Bonus: *
Manufacturing, 3.0% Services (non-consulting), 13.4% Technology, 8.6% Real Estate, 1.5% Communications, 4.9% Arts, 0.7% Education/Govt/ Nonprofit, 9.0% Energy/Natural Resources/ Utilities, 1.5% Consulting, 10.1% Financial Services, 47.3%
Industry Arts 0.7% Communications 4.9% Advertising/PR 1.4% Media/Entertainment 2.2% Publishing/Printing 1.1% Consulting 10.1% Education/Government/Nonprofit 9.0% Education: Elementary Secondary 0.7% Education: For-Profit Education 1.1% Education: Higher Education 1.5% Government: Federal 2.2% Government: Local 0.7%
Industry Government: Non-U.S. 0.7% Nonprofit: Social Services 0.7% Nonprofit: Other 0.7% Nonprofit: Public Interest 0.4% Energy/Natural Resources/Utilities 1.5% Financial Services 47.3% Accounting 1.9% Commercial Banking/Lending 1.9% Financial Services (other) 3.4% Insurance 0.7% Investment Management 15.3%
Industry Investment Banking 12.3% Private Equity 10.1% Venture Capital 1.9% Manufacturing 3.0% Aerospace 0.7% Biomedical 0.4% Computer 0.7% Consumer 1.1% Real Estate 1.5% Services 13.4% Healthcare 2.6%
Industry Hospitality/Leisure/Sports 1.9% Legal Services 2.6% Retail/Wholesale 4.1% Services (other) 2.2% Technology 8.6% Online Services 1.9% Other 4.9% Software Products 1.1% Systems/Networking 0.7%
Function Accounting 1.1% Internal Accounting 0.7% Public Accounting 0.4% Arts and Culture 0.4% Administration 0.4% Communications 2.2% Advertising/Account Management 0.7% Journalism 1.1% Public Relations 0.4% Consulting 14.1% Management/Strategy Consultant 8.9%
Function Research 0.4% Technical/Information Systems 1.9% Other 3.0% Education 1.9% Administration 0.4% Teaching 1.5% Engineering 0.4% Systems 0.4% Finance 43.3% Commercial Lending 0.7% Financial Planning and Analysis 3.0%
Function Investment Banking 6.7% Investment Management/Counsel 11.5% Private Equity 10.0% Sales 2.2% Securities Research 4.1% Trading 3.0% Venture Capital 2.2% Government 1.5% Intelligence/Law Enforcement 0.4% Lobbying 0.4% Public Management 0.7%
Function Healthcare 2.2% Policy/Management 0.4% Hospital/HMO Administration 0.4% Physician 1.5% Information Technology 2.2% Data Analyst/Administrator 1.1% Software Developer/Engineer 1.1% Insurance 0.4% Actuarial 0.4% Law 3.3% Attorney 3.3%
Function Management/Administration 5.2% Entrepreneur/Founder 1.5% General Management 1.9% Operations 1.9% Marketing 11.1% Buyer/Merchandising 1.9% Marketing Analysis/Research 2.2% New Business Development 2.2% Brand Management 3.7% Sales/Sales Management 1.1% Miscellaneous 5.9%
Function Nonprofit/Social Services 1.9% Direct Service 1.1% Program Planning 0.4% Research 0.4% Real Estate 3.0% Development 0.4% Property Management 0.4% Real Estate Investment Analysis 1.9% Sales 0.4%
Time Off Men Women 19.4% took time off 20.4% took time off Average Number of Years in Current Job All 2.4 Men 2.5 Women 2.2 Average Number of Employers Since Graduation All 2.2 Men 2.2 Women 2.3
Percentage Critical Thinking Analytical Teamwork Concentration Specific Leadership Quantitative Proficiency Speaking Writing Listening Research Other Qualitative Proficiency 2.1% 2.1% 1.7% 1.5% 2.8% 9.5% 6.6% 12.0% 10.4% 15.4% 15.3% 20.6% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0%
Don t follow the herd you will be much more successful if you forge your own path toward doing what you want to do, even if you can t do it just yet. Do thorough research on possible career paths. Utilize Career Services Your pursuits should strike a balance between what you re good at and what you love to do. Search for what you know you could be passionate about; it shows when talking to prospective employers. Network as much as possible because so many jobs get filled via good relationships established throughout your job search process Persevere and don t underestimate the value of your personal network. Don t feel discouraged if you don t [initially] get the internship or job of your dreams. Nothing is final unless you make it final. Have a plan b. Do not just hang around waiting for a job. Be open-minded in your career path, and don t lean too much towards your major at Penn. Persistence is everything. Interviewers can see how much you want a job; it is important to blend enthusiasm with demonstrable skills/experiences gained in the classroom.
Don't take it personally and try to stay cheerful. Take the opportunity to do interesting things you wouldn't have gotten to do otherwise. Be flexible. Consider working at start-ups. Gain skills in your undergraduate studies that are specifically applicable to the field you want to pursue (i.e. VBA coding, exams towards professional certification, accounting, etc.) Networking and showing initiative in reaching out to people are very important. Differentiate yourself. Don't be scared to take risks/start something yourself. Some of the most successful people I know didn't take the traditional route. You CAN make money doing what you love, even if it's untraditional. Now is the time to go for your dreams, because you have nothing to lose... All my jobs since undergrad have been received through networking and getting myself integrated in what I love - explore what you love, learn and talk to people, and you'll get to a job and career path you're passionate about much faster. Stay positive and keep an open mind. Maybe you don't get your dream job off the bat but if you keep working hard you will get to where you want to go.
Be entrepreneurial - the opportunity cost of taking a risk has never been lower and your Penn degree and connections provide a great safety net if things go wrong Understand your priorities, what you like and what you want to do. You don't need to get the best or ideal job possible right out of school be creative, think about graduate school, service programs (e.g. Peace Corps, AmeriCorps), working abroad, working in a smaller city non-traditional jobs just to get your foot in the door. Do not get discouraged the economy has ups and downs. It is no big deal if you cannot get a job immediately after graduation; it is in fact a good opportunity to experience life - live abroad, study a language, pursue your interests, etc., while staying on top of job searching. Try to differentiate yourself and play to your strengths in your job search process. Cast a wide net, but be able to show why you're specifically interested in and qualified for each position. Use the Penn network to reach out to employers that interest you. Even if there are no specific openings, if you can impress upon a potential employer how dedicated, smart and enthusiastic you are, they may create a position for you or keep you in mind for future openings.
Don't worry about what other students are doing after graduation. Find a career path you enjoy. Your pursuits should strike a balance between what you're good at and what you love to do. Find an opportunity where you can add value, work hard, prove yourself, and you will succeed... Don't pursue a concentration or career simply because everyone else is doing it. If you don't truly enjoy what you're doing, it makes it incredibly difficult to excel at the job. Pursue something you love or, at the least, can moderately enjoy doing Learn as much as possible and take advantage of your time in undergrad as a chance to experiment. Don't worry about what your friends or classmates are doing and trying to compete -- focus on what interests you, what drives you, and what you have a desire to learn about. Take on as much work experience / internships as you can. Take advantage of your Penn experience as it indeed will provide you with tools to succeed in your career. Enjoy your classes, if you treat them as subjects just to study for a test and forget you'll regret it later. I wish I remembered half the things I learned. Spend more time hanging out with your professors College is more then what you learn in the classroom.
Start networking NOW and keeping in touch with people you meet. Be entrepreneurial - make something happen for yourself. Be well rounded. Take as many courses as you can in as many different disciplines. Never stop learning or trying to learn. Keep challenging/pushing yourself... You will rarely be in a place like Penn where you have so many opportunities to learn so many different things. Learn a language or do your best to become fluent in one. Study abroad. Be a global citizen. We live in a globalized society -- be open to new ideas and different points of view. Talk to those who may be different (international students, those who came from smaller/larger city compared to where you came, different sexual orientation, etc.). Be kind to one another and help each other out. Make friends and build close relationships. You never know where they will take you. Talk to your professors and get to know their research and what they do outside of the class you're in. Focus on discovering what you want to do for the next 5, 10, 20 years, and not what you can get the first year after graduation. Try hard to discover your interests, priorities and values while you are still in school. Don't get swept up in the herd mentality and pursue something simply because it is the best-paying or most prestigious option or because it is something 'everyone' wants to do. It is important to be successful personally, not just professionally.
It gave me a better understanding of what was going on outside of my personal network. The diversity I experienced was very important. Studying abroad was a great experience - highly recommended Penn allowed me to interact with people from all over the world. This helped me expand my scope of views and also allowed me to realize that I had to work harder if I really wanted to meet my goals. The people I met were some of the most mature, driven, and intelligent people I've ever encountered. It's helped set a high bar in what I want to accomplish for myself and society. Being around talented and diverse people helps inject maturity and perspective onto yourself. I think about 50% of my learning at Penn can be attributed to coursework. The other half was learning about life from an intellectually and culturally diverse student body. The ability to understand and appreciate perspectives and customs dissimilar to your own is what fosters genuine dialogue, collaboration and progression. Being surrounded by a diverse group of very intelligent people was the best education. Penn exposed me to a world that was entirely new to me, and challenged me every day. It taught me to expect more of myself. It also exposed me to brilliant people that I might not have met otherwise.
I thought the clubs were extremely helpful - was involved with Wharton Women, which was an excellent resource in getting informed about the business world outside of academics. The diverse student base has provided a wonderful experience on campus and has also served as a base of an amazing network of friends. Success in college does not necessarily equate to success in career. People skills are intensely important in the real-world, especially in times of economic calamity. Inside and outside of the classroom, I built the foundation upon which I have shaped my world view. Penn was an awesome environment for this. I was surrounded by so many intelligent and articulate individuals of different backgrounds and perspectives that it often got me to think about the many issues from politics to philosophy. The student body was extremely diverse and it made for a good place to exchange views about business/economic issues around the world. It also gave me some good insight into other fields of study that I previously had never considered. Some of the most interesting people I met had interests outside my own and it was good to gain some insight into these other fields.
Perhaps I would have gotten involved with more clubs on campus Talked to older students when I was a freshman or sophomore to ask them for their career advice and talked to alumni about future career paths and how that might influence my post undergraduate choice for company/type of industry. I would have studied at least one semester abroad. Greater involvement in professional organizations. I would have taken more time to understand different potential career paths, and also different roles within organizations. Understanding what type of work I like and what type of company I want to work for. I was opportunistic rather than purposeful in choosing my first job. I would have invested more effort into my friendships and being more social. I would spend more time working on research projects with professors, speaking to professors about topics I was interested in after class, and trying to work on startup ideas with fellow students. I would have spent more time studying throughout the semester instead of cramming before exams. I would have retained more information that way. Further utilize the academic and career advisory services that are available.
I would have taken more time to explore what types of concentrations and classes were available - particularly the opportunity to carve my own academic path. So much of today's professional world is interdisciplinary, and I fully appreciate now the unparalleled resources available to Penn students to develop academically, personally and professionally. More actively pursued leadership positions. Go abroad for a full year, use resources on campus better (research, etc.). I wish I had met even more people and explored even more opportunities. College is by far the best place to do all of these things. I regret not being able to study abroad and doing some of the things that may have stretched me beyond my comfort zone. Gotten to know more upperclassmen. Also, would have liked to meet more students doing other majors outside Wharton. Also, would have liked to participate in more mentoring programs as a mentee, especially with international (non-us) alumni. I would have been more involved in the University and taken advantage of a broader selection of classes. I would have gotten a tutor and taken advantage of office hours during my freshman year.