Consulting emerged as a dominant force with a significant 41.91% hiring rate at Kellogg, according to the 2023 Employment Report. The industry boasts a median base salary of $190,000 and a median signing bonus of $30,000, making it one of the highest-paid sectors among Kellogg graduates.
Kellogg MBA Salary 2023: By Industry
Consumer Packaged Goods, on the other hand, represents a smaller slice of the post-MBA job market at Kellogg, with a modest 6.90% hiring rate. Despite its lower hiring percentage, this industry still offers decent compensation, with a median base salary of $128,500 and a standard signing bonus of $30,000, offering candidates from marketing careers to join back or transition into brand management, marketing, and product development roles.
Financial Services surprisingly holds a strong presence in post-MBA placements, constituting 22.02% of hires from the Kellogg program. This sector offers a median base salary of $175,000 and a median signing bonus of $50,000, offering career paths in Investment Banking, Asset Management, and Fintech.
Healthcare emerges as a niche industry for Kellogg MBA graduates, representing only 3.18% of hires. Despite its smaller footprint, Healthcare offers competitive compensation, with a median base salary of $132,500 - $3,000 lower than the benchmark in M7 and T10 schools and a standard signing bonus of $30,000.
Similarly, Manufacturing and Retail represent smaller segments of post-MBA placements, each comprising around 2-3% of hires. These industries offer respectable median base salaries ($131,000 for Manufacturing and $127,500 for Retail) and signing bonuses ($30,000 for both).
Retail's $127,500 is also $3,000 lower than the benchmark of peer schools.
Technology stands out as a notable contributor in post-MBA placements, capturing 16.71% of hires from the Kellogg program. With a median base salary of $155,000 and a signing bonus of $25,000, the technology sector falls at the bottom half of peer school's compensation (M7) in the same industry.
| By Industry | % Hired | Median Base Salary | Median Signing Bonus |
| Consulting | 41.91% | $190,000 | $30,000 |
| Consumer Packaged Goods | 6.9% | $128,500 | $30,000 |
| Financial Services | 22.02% | $175,000 | $50,000 |
| Healthcare | 3.18% | $132,500 | $30,000 |
| Manufacturing | 2.39% | $131,000 | $30,000 |
| Retail | 2.12% | $127,500 | $27,500 |
| Technology | 16.71% | $155,000 | $25,000 |
The strategy of prioritizing Finance and Technology along with Consulting worked for Kellogg in 2023, with the total median salary reaching closer to the $175,000 range.
Kellogg MBA Salary 2023: By Function
Consulting emerged as a dominant function, accounting for a substantial 40.72% of hires with a median base salary of $190,000 and a median signing bonus of $30,000.
Investment Banking and Private Equity also hold significant sway in post-MBA placements, with 7.48% and 6.93% of hires, respectively. These finance-driven functions offer lucrative compensation, with Investment Banking at the top of the list with a median base salary of $175,000 and a generous signing bonus of $60,000, while Private Equity offers the best base salary of $190,000.
Corporate Strategy/Strategic Planning represents another noteworthy function, accounting for 6.37% of hires. With a median base salary of $150,000 and a signing bonus of $27,500, this function is not as lucrative as Management Consulting, but with declining General Management/Strategic Planning placements in top schools, Kellogg stands out for 8.3% of hires in the General Management function even with a below threshold $150,000 median base salary and a standard $30,000 sign-on bonus, indicating that candidates are not all optimized for remuneration but are following their career fit as well.
Technology also shares the same share of hires at 8.31% with a median base salary of $160,000 and a signing bonus of $35,000 – ranking in the top quartile in terms of compensation in the industry. It would have been tough to predict that Kellogg would turn into a Technology school given its legacy as a strong Marketing, General Management and Consulting placements.
Brand Management and Venture Capital represent smaller but notable functions in post-MBA placements, each constituting around 3-4% of hires. Brand Management roles offer a median base salary of $125,000 and a signing bonus of $35,000. Despite the lower quartile compensation, 3% of the class chose the function.
Venture Capital roles, with a median base salary of $180,000, are a favorite post-MBA function for candidates with a technology background and a passion for early-stage investing.
| By Function | % Hired | Median Base Salary | Median Signing Bonus |
| Business Development | 11.11% | $147,000 | |
| Consulting | 40.72% | $190,000 | $30,000 |
| Corporate Strategy/Strategic Planning | 6.37% | $150,000 | $27,500 |
| Investment Banking | 7.4% | $175,000 | $60,000 |
| Investment Management | 5.5% | na | NA |
| Private Equity | 6.9% | $190,000 | NA |
| Venture Capital | 1.3% | $180,000 | NA |
| General Management | 8.31% | $150,000 | $30,000 |
| Brand Management | 3.3% | $125000 | $35,000 |
| Technology | 8.31% | $160,000 | $35,000 |
Kellogg MBA Salary 2023: By Region
With a median base salary of $175,000, the U.S. offers the bulk of the offers (94.10%) for MBA graduates across industries and functions. Within the U.S., the Midwest stands out with a significant 32.02% of hires, boasting a median base salary matching the national average. The Chicago Metro area, in particular, showcases robust hiring activity, with 28.65% of placements and a slightly higher median base salary of $179,750.
Moving to the Northeast, which comprises cities like New York, Boston, and Philadelphia, we see a substantial 24.44% of hires. The New York City Metro area, in particular, commands a notable 20.22% of placements, with a median base salary aligning with the national average. The Northeast region offers a diverse array of industries and opportunities, attracting MBA graduates seeking dynamic urban environments and access to global business hubs.
The West emerges as another prominent region, constituting 22.75% of hires from the Kellogg MBA program. Notably, the San Francisco Bay Metro area stands out with 12.92% of placements and a slightly higher median base salary of $180,000 – a pivoting strategy from Kellogg into Technology and Venture Capital that has served the brand well.
Internationally, Asia represents a significant but smaller segment of post-MBA placements, with 3.37% of hires and a median base salary of $137,425.
Asia offers diverse opportunities for MBA graduates interested in exploring emerging markets, global supply chains, and cross-cultural business environments.
| By Region | % Hired | Median Base Salary |
| INTERNATIONAL | 5.9% | $128000 |
| Asia | 3.37% | $137425 |
| North America (Non-US States) | 1.12% | $138,000 |
| UNITED STATES | 94.1% | $175,000 |
| Mid-Atlantic | 3.93% | $171,000 |
| Washington D.C. Metro | 2.25% | $164,500 |
| Midwest | 32.02% | $175,000 |
| Chicago Metro | 28.65% | $179,750 |
| Northeast | 24.44% | $175,000 |
| New York City Metro | 20.22% | $175,000 |
| South | 3.93% | $185,000 |
| Southwest | 7.02% | $175,000 |
| Denver Metro | 2.53% | $175,000 |
| West | 22.75% | $175,000 |
| San Francisco Bay Metro | 12.92% | $180,000 |
Kellogg MBA Salary 2023: Top Employers
Among the top employers hiring three or more students, Consulting firms emerged as the dominant force in terms of sheer numbers, with prestigious names like Bain & Company, McKinsey & Company, and The Boston Consulting Group leading the pack.
McKinsey & Company and The Boston Consulting Group stood out with 46 and 45 hires, respectively, showcasing their strong presence and continued demand for Kellogg MBA talent.
In the Consumer Packaged Goods sector, companies like HelloFresh, Nike, Inc., and Procter & Gamble made multiple hires, signaling opportunities for MBAs interested in brand management, marketing, and product development roles within these renowned companies.
Financial Services also featured prominently in Kellogg's 2023 placements, with notable firms such as Goldman Sachs & Co., Morgan Stanley, and Evercore Partners making multiple hires. These firms provide avenues for MBAs interested in investment banking, asset management, and private equity roles, reflecting the program's strong connections to the finance industry.
Retail and Technology sectors also made significant contributions to Kellogg's placements, with companies like H&M and Amazon recruiting multiple MBA graduates.
Technology giants such as Google, Microsoft Corporation, and Apple Inc. also made their mark, offering opportunities in product management, business development, and strategic roles within the tech industry.
| Companies Hiring 3+ Students | No. of Hires |
| Consulting | |
| AlixPartners | 4 |
| Alvarez & Marsal | 4 |
| Bain & Company | 26 |
| The Boston Consulting Group | 45 |
| Deloitte Consulting LLP | 6 |
| EY-Parthenon | 5 |
| McKinsey & Company | 46 |
| PwC Strategy& | 6 |
| Consumer Packaged Goods | |
| HelloFresh | 3 |
| Nike, Inc. | 4 |
| Procter & Gamble | 4 |
| Financial Services | |
| Alpine Investors III, LP | 7 |
| Evercore Partners | 4 |
| Goldman Sachs & Co. | 4 |
| Guggenheim Partners | 3 |
| Morgan Stanley | 3 |
| Partners Group | 4 |
| Robert W. Baird & Co. Incorporated | 3 |
| Retail | |
| H&M | 3 |
| Technology | |
| Adobe Systems | 3 |
| Amazon | 15 |
| Apple Inc. | 3 |
| 6 | |
| Intuit Inc. | 3 |
| Microsoft Corporation | 4 |
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