Here's how much the graduates of top business schools made across industries, including signing bonuses
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- An MBA is an investment, but students at top schools can graduate making six-figure salaries.
- Consulting, finance, and technology were all popular industries for the class of 2021.
- Here are the latest salaries — including signing bonuses — of six top business schools.
Business school is an exciting prospect for ambitious professionals or aspiring entrepreneurs looking to level up their careers — and salaries.
For the class of 2021, students from the top business schools in the world graduated making solid six-figure salaries. Financial services, consulting, investment banking, and technology were top industries for business-school grads. In a competitive year for top talent, many students also received lucrative signing bonuses.
After a surge at the start of the pandemic, applications held steady or decreased at top business schools for 2021, according to The Wall Street Journal. For example, Northwestern University's Kellogg School of Management reported a 20% drop in applications to its MBA program for the incoming fall 2021 class. Columbia Business School reported a 6% decline, though the volume of applications was still higher than it was in 2019, when interest in many schools languished during a white-hot job market.
For those considering attending business school or who are currently enrolled, here are six top programs and a profile of what their graduates are up to today.
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The Wharton School of the University of Pennsylvania is the world's oldest collegiate business school and tied for the top spot on US News & World Report's business-school rankings.
The median salary for 2021 graduates of Wharton was $155,000, while the annual cost of attendance was $118,568, according to the school. The majority of graduates entered consulting, financial services, or the technology industry — with two or more students receiving employment offers from prestigious firms such as Amazon, Bain & Co., BlackRock, Boston Consulting Group, Deloitte Consulting LLP, and Goldman Sachs.
Read more: Here's the salary breakdown for Wharton's most recent MBA class across industries
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The University of Chicago Booth School of Business ranked first on US News & World Report's business-school rankings for 2023, tied with the Wharton School at the University of Pennsylvania.
The median salary for 2021 Booth graduates was $155,000, according to the school's most recent report. The school estimates the annual cost of attendance for Booth students is $115,062.
The majority of graduates entered careers in consulting or financial services. The consulting giant McKinsey snapped up 46 Booth graduates in 2021, while Amazon, Bain & Co., Google, and JPMorgan Chase were also major employers of 2021 graduates.
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Over in Palo Alto, California, Stanford Graduate School of Business came in third on US News & World Report's business-school rankings.
Stanford reported the median salary for 2021 graduates was $158,400, with a median signing bonus of $30,000. The school estimated students would pay $124,389 for one year of tuition, plus expenses, for the 2022-23 academic year. Like peer institutions, Stanford saw a majority of graduates work in finance or consulting.
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Harvard Business School, one of the leading MBA-course providers, came in fifth on US News & World Report's business-school rankings this year.
Harvard reported the median salary for 2021 graduates was $148,750, with an expected bonus of $30,000. The school estimated students would pay $112,764 for one year of tuition — plus expenses — for the 2022-23 academic year. Students flocked to positions in consulting, private equity, and technology.
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The Yale School of Management is seventh on the US News & World Report's business-school rankings.
Yale reported the median salary for 2021 graduates was $140,400, with a median signing bonus of $30,000. Meanwhile, Yale estimated students would pay $108,780 for one year of tuition, plus expenses, for the 2022-23 academic year. A large percentage of graduates entered the consulting and finance industries.
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The New York University Stern School of Business is 12th on US News & World Report's business-school rankings for 2023.
The median salary for 2021 Stern graduates was $155,000, and the majority of students entered consulting or financial services, according to the school. The estimated cost of attendance, including room and board, was $121,541 — the second-highest tuition of the top 15 business schools.
Read more: Here's the salary breakdown for NYU Stern's MBA class of 2021 across industries, including bonuses
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