The Columbia MBA stands out among the M7 Schools for having the highest median sign-on bonus of $56,000 compared to the industry average of $50,000. The school drew the second-highest total compensation in investment banking - $225,000, in the same period. While Management Consulting continues to be the most popular industry and function among MBA graduates, the school is one of a small number of top schools where Investment Banking is solidifying its position.
Columbia MBA Salary by Industry (2022)
The highest median base pay, $175,000, was earned by MBA graduates from Columbia in the consulting industry (same across all M7 schools). Similarly, the highest median base salary among the M7 schools was $175,000, offered at Columbia, Chicago Booth, Harvard, and Wharton. Other M7 schools, such as MIT and Kellogg, are behind by $10,000 at $165,000.
Investment Banking and Consulting secured the highest total median salary of $175,000. However, the percentage of graduates represented in the Consulting and Investment industry was 33.6% and 16.7%, which has experienced only a slight increase compared to hiring rates last year. Technology recruiters declined this year, with 2% less recruitment at 9%. Among M7 institutions, Columbia MBA grads received the largest median sign-on bonus, at $56,000.
The Technology (17%), Consulting (33.4%), and Finance (36%) trio continued to dominate the industry placements. However, Columbia (3.6%) enters the top 5 with a total median pay of $180,000, staying true to the school's heritage of utilizing New York's purchasing power. However, what makes Columbia unique is the strong Real Estate Industry (3.6%) presence, correlating with New York City’s prominent real-estate markets as shown by its entry into the top 5 with a total median pay of $180,000.
| Columbia MBA Salary By Industry | Percent Hired (2021) | Percent Hired (2022) | Median Base Salary (2022) | Median Sign-On Bonus (2022) | Total Salary (2022) | Total Salary (2021) |
|---|---|---|---|---|---|---|
| Investment Banking/Brokerage | 16% | 16.7% | $ 175,000 | $ 50,000 | $ 225,000 | $ 207,500 |
| Strategic/Management Consulting | 32% | 33.6% | $ 175,000 | $ 30,000 | $ 205,000 | $195,000 |
| Investment Management | 6% | 8.2% | $ 162,500 | $ 56,000 | $ 218,500 | $ 190,000 |
| Internet Services / E-Commerce | 11% | 9% | $ 145,000 | $ 45,000 | $ 190,000 | $184,875 |
| Real Estate | 5% | 3.6% | $ 150,000 | $ 30,000 | $ 180,000 | $ 165,000 |
Columbia MBA Salary by Function (2022)
The most popular function at Columbia was consulting, with the highest median base salary ($175,000) and the lowest median sign-on bonus ($30,000). After investment management, which offered a total income of $232,500, investment banking came in second in terms of representation, with the second-highest total salary of $207,500. The placements in 2022 seemed to be shifted from Management to the Marketing sector. Marketing functions saw a 6% hike in hiring rates, whereas management observed a 7% decline.
| Columbia MBA Salary By Function | Percent Hired (2021) | Percent Hired (2022) | Median Base Salary (2022) | Median Sign-On Bonus (2021) | Total Salary (2022) | Total Salary (2021) |
|---|---|---|---|---|---|---|
| Management Consulting | 32% | 33.2% | $ 175,000 | $ 30,000 | $ 205,000 | $ 195,000 |
| Investment Banking/M&A | 16% | 16.4% | $ 175,000 | $ 50,000 | $ 225,000 | $ 207,500 |
| Brand/Product Management | 7% | 7% | $ 134,000 | $ 40,750 | $ 174,750 | $160,000 |
| Investment Management | 7.8% | 8.1% | $ 165,000 | $ 67,500 | $ 232,500 | $ 215,000 |
| Private Equity/LBO's | 4.5% | 5.3% | $ 160,000 | $ 25,000 | $ 185,000 | $ 200,000 |
| Leadership Development/ Rotational Program/General Management | 7.8% | 2.8% | $ 131,000 | $ 30,000 | $ 161,000 | $ 159,350 |
Related: F1GMAT's Columbia MBA Essay Guide (Samples Included)
Columbia MBA Salary by Locations (2022 vs 2021)
Tied with Carnegie Mellon Tepper as the institution with the second-highest percentage of international students in the US (51%), Columbia MBA has yet to provide information on post-MBA placement locations within the US.
86% of the total placements were in the United States. Out of the 14% international placements, a maximum of 7% were placed in Asia, followed by Europe with 4%, Central and South America (2%), and Africa and the Middle East (1%).
Columbia MBA Top 14 Employers (2022 vs. 2021)
McKinsey, which recruited 9% of all full-time employees, including returnees but excluding interns, topped the list of top employers for two years in a row. Bain and Deloitte were in fourth and fifth place, respectively, while BCG came in second.
Amazon and Google represented the technology industry in third and eighth places, but Apple was out of the top employer's list this year. This year many Finance firms came up with double-digit representation in the top recruiter list; some of them are Goldman Sachs (17), Bank of America (14), JP Morgan & Co (14), and Barclays (10). Barclays is the only new entry in the 2022 placement with double-digit representation. Other new entry includes BNP Paribas (5), Mastercard (5), and Meta (5).
| Rank | Top 14 Employers | No. of Hires (2021) (returnees) | No. of Hires (2022) (returnees) |
|---|---|---|---|
| 1 | McKinsey & Company, Inc. | 55 (22)
| 54 (24) |
| 2 | Boston Consulting Group | 35 (12) | 34 (10) |
| 3 | Amazon.com, Inc. | 26 | 23 |
| 4 | Bain & Company, Inc. | 23(12) | 20 (13) |
| 5 | Deloitte Consulting | 16 (6) | 17 (11) |
| 5 | Goldman Sachs | 13 | 17 |
| 6 | PwC Strategy& | 5 | 10 (6) |
| 7 | Bank of America | 8 | 14 |
| 7 | JP Morgan Chase & Co. | 8 | 14 |
| 8 | 11 | 12 | |
| 9 | Barclays | NA | 10 |
| 10 | Citi | 8 | 9 |
| 10 | Evercore Partners | 6 | 9 |
| 11 | Credit Suisse | 9 | 8 |
| 12 | American Express | 6 | 7 |
| 12 | EY-Parthenon | 6 | 7 |
| 12 | Morgan Stanley | 7 | 7 |
| 13 | PJT Partners | 3 | 6 |
| 14 | BNP Paribas | NA | 5 |
| 14 | Mastercard | NA | 5 |
| 14 | Meta | NA | 5 |
Columbia MBA Career Service Team - Effectiveness (2022)
62% of all job offers were school-facilitated, a drop of 12% compared to last year’s placements. Of the school-facilitated job offers, a maximum percentage of 37% originated from school-facilitated internships, which was 19% less than last year's data. 16% of jobs were sourced through on-campus interviews and COIN, the online job board. The rate of students employed through the school-facilitated interviews rose by 2%, depicting the efficiency of the on-campus interviews and new firms' entry into the hiring process.
Networking contributed to sourcing 5% of all school-facilitated job offers and 16% of all graduate-facilitated job offers, showing a huge jump in both sectors. Networking and graduate-facilitated internships have collaborated and increased the rate of graduate-facilitated employment opportunities.
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F1GMAT's Columbia MBA Essay Guide
References