In the second part of the Cornell MBA Series for the 2023 graduating class, we cover MBA Functions.
The Cornell MBA Class of 2023 employment report reveals Consulting as a dominant function, with an impressive 40% of graduates securing positions in this field. The class also demonstrates a significant presence in Finance and Investment Banking, with over a third of graduates, 26% and 12%, respectively, finding roles in these sectors.
The Investment Banking median base salary of $175,000 is a standard remuneration across T10 schools, with Wharton only the exception, earning an additional $14,000 in median base salary.
Management roles attract 8% of graduates, offering a median base salary of $140,000 – a standard for 10-15 ranked schools but below the $150,000 to $160,000 benchmark for M7 and T10 schools.
Marketing and Operations/Logistics also make notable contributions, with 11% and 1% of the class entering these functions, accompanied by median base salaries of $126,000 and $146,000, respectively.
The earnings for the Marketing function are in the lower quartile with three tiers of packages. The top tier is in the $150,000 and above range, the second at $140,000 and the third in the $125,000 to $130,000.
Consulting offers the highest median base salary of $190,000 - the best in the function, followed by Investment Banking and Finance, each with a $175,000 median base salary, again among the best, making Cornell a viable alternative for T10 and M7 schools for candidates entering Consulting and Investment Banking functions.
| Function | Percent Hired | Median Base Salary |
| Consulting | 40% | $190,000 |
| Investment Banking | 26% | $175,000 |
| Management | 8% | $140,000 |
| Finance | 12% | $175,000 |
| Marketing | 11% | $126,000 |
| Operations/Logistics | 1% | $146,000 |
Read the previous analysis in the Cornell MBA Salary series for the 2023 graduating class:
• Cornell MBA Salary and Placements by Industry
Read the next analysis in the Cornell MBA Salary series for the 2023 graduating class:
• Cornell MBA Salary 2023 By Region
• Cornell MBA Top Employers for 2023
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