Analysis: Cornell MBA Salary and Placements (2024)

Cornell MBA has earned the reputation as a hidden gem for Investment Banking (IB) placements and those seeking careers in IB. 

In this in-depth analysis of Cornell MBA placements and salary for 2024, we cover:
•    By Industry: Cornell MBA Salary and Placements 2024
•    By Function: Cornell MBA Salary and Placements 2024
•    By Region: Cornell MBA Salary and Placements 2024
•    Top Employers: Cornell MBA Salary and Placements 2024

By Industry: Cornell MBA Salary and Placements 2024

Cornell Johnson’s MBA Class of 2024 saw notable shifts in industry hiring, particularly in Financial Services and Consulting. 

Financial Services emerged as the leading sector, accounting for 42% of placements, up from 35% last year, while Consulting saw a decline from 42% to 31%. The median base salary for both industries remained at $175,000, indicating stagnation.

Finance Hiring - Highest

Compared to peer schools, Cornell’s Finance hiring rate is the highest, exceeding NYU Stern (35.7%), Duke Fuqua (25%), and Darden (26.5%). However, in Consulting, Cornell’s 31% placement rate lags behind NYU Stern (37%), Fuqua (39%), and Darden (42.5%), reflecting a significant decline in demand for MBA talent within Consulting firms at Cornell.

Cornell’s Consulting Hire Fell. Salary at $175,000

Compared to last year, Cornell’s Consulting hiring dropped by 11 percentage points, mirroring a general slowdown in Consulting recruitment. However, the $175,000 salary at Cornell remains on par with NYU Stern ($175,000) but trails Fuqua ($190,000) and Darden ($190,000). This suggests that while hiring cuts are widespread, firms remain willing to pay premium salaries at certain schools, possibly due to stronger Consulting pipelines and recruiter preferences. The decline in Consulting hiring is largely driven by economic uncertainty, prompting firms to reduce incoming MBA classes and delay start dates.

Technology Hiring – Steady in a Down Market. Salary Comparable to New York Peers

Technology hiring at Cornell remained steady at 11%, identical to last year, with a median base salary of $142,800, up slightly from $138,000. However, in comparison to peer schools, Cornell’s Technology hiring rate is lower than Fuqua (12%) but higher than Darden (8.8%) and Stern (9.1%). While salaries at Cornell ($142,800) are comparable to Stern ($143,500), they lag behind Fuqua ($152,250) and Darden ($150,000). The relatively stable tech hiring rate at Cornell suggests that while large-scale layoffs have impacted the industry, MBA hiring in product Management and corporate strategy roles remains resilient, though firms are offering higher salaries at select schools.

Consumer Package Goods and Strong Manufacturing Compensation – Below 5% Representation 

Consumer packaged goods (CPG) hiring at 4% is consistent with last year, with a median salary of $127,000—matching NYU Stern and slightly below Fuqua ($128,000). The stagnant salary levels reflect continued cost-cutting measures within the industry as firms focus on operational efficiency. Similarly, Manufacturing hiring increased slightly from 2% to 3%, with salaries rising from $128,500 to $132,500, placing Cornell slightly above Darden’s 2.4% placement at $125,000.

Manufacturing hiring at Cornell increased from 2% to 3%, showing slight growth. The median salary rose from $128,500 to $132,500, placing Cornell ahead of Darden (2.4% hiring, $125,000 salary). While Manufacturing remains a small sector for MBA graduates, Cornell’s higher salary suggests it is securing roles in higher-paying functions such as operations leadership or supply chain strategy.

Healthcare – Best in New York by Percentage. Compensation Highest Compared to Peer Schools

Healthcare hiring at Cornell remained at 3%, unchanged from last year. When compared to peer schools, Cornell’s 3% placement rate is lower than Fuqua (7%) and Darden (5.1%) but higher than NYU Stern (1.7%). However, the median salary at Cornell rose significantly from $130,000 to $142,500, surpassing NYU Stern ($135,000) and Fuqua ($137,000). This salary increase suggests a shift toward higher-paying roles in pharmaceuticals and medical devices, which could explain why Cornell’s placement rate remains lower than schools with broader Healthcare pipelines like Fuqua.

Energy Hiring Trends – Strongest Among Peer Schools

The Energy and utilities sector accounted for 3% of Cornell’s hires, with a median base salary of $137,500. Compared to Darden (1.7% placement, $140,000 salary), Cornell has a slightly higher placement rate but a marginally lower salary. This suggests Cornell maintains a steady presence in the industry, although Energy remains a niche career path for its graduates.

Final Take

Overall, Cornell’s 2024 employment data highlights its continued strength in Finance, challenges in Consulting, and resilience in Technology, Manufacturing, Energy, and Healthcare relative to peer schools. 

The lack of salary growth in Consulting reflects the economic slowdown.

By Function: Cornell MBA Salary and Placements 2024

Finance was the dominant functional area for Cornell MBAs in 2024, with 41% of graduates entering the sector, a jump of 12%. This shift was primarily driven by Investment Banking, which accounted for 31% of hires—up from 26% in 2023. 

Cornell – Investment Banking Powerhouse

Cornell now leads its peers in Investment Banking hiring, surpassing NYU Stern at 21.4%, Duke Fuqua at 12.2%, and Darden at 28.9%. However, despite this hiring strength, Cornell’s median base salary in Investment Banking was at $176,442, a slight increase from $175,000 last year, signaling limited growth in compensation. 

In comparison, NYU Stern’s Investment Banking salaries remained flat at $175,000, while Duke Fuqua and Darden did not disclose specific salary figures for the function. Beyond Investment Banking, Corporate Finance roles at Cornell saw minimal hiring at just 3%, with a median salary of $131,167, lagging behind NYU Stern’s general/corporate Finance salary of $132,500. 
Private equity and venture capital hiring remained marginal at 2%, with no salary data available.

Consulting – Hiring Fell by 7% and Salary Cut by $15,000

Consulting, which has traditionally been a strong employment function for MBA graduates, saw a major decline at Cornell, dropping from 40% of hires in 2023 to 33% in 2024. This decrease aligns with broader trends in the industry, where major Consulting firms have slowed down hiring due to economic uncertainty and budget constraints. However, the more concerning factor is the salary drop from $190,000 last year to $175,000 in 2024, reflecting the overall industry slowdown. 

In comparison, peer schools such as Duke Fuqua (42%) and Darden (43.9%) placed significantly more graduates into Consulting, both at a higher median base salary of $190,000. Even NYU Stern, with a similar Consulting hiring rate of 42.4%, maintained a median salary of $175,000, indicating that Cornell’s lower hiring percentage makes it less competitive in this domain. The salary in Consulting suggests that firms are prioritizing cost-cutting over aggressive expansion, leading to more selective hiring and lower compensation growth.

General Management – Higher Representation

Management roles, which include rotational programs, general Management, and Project Management, accounted for 13% of hires at Cornell, up from 8% last year, but salaries remained stagnant at $140,000. Within this segment, rotational and development programs made up 5% of hires at a median salary of $136,481, while general Management roles accounted for 4% of hires at $127,143. In comparison, Duke Fuqua placed 16% of its graduates in general Management with a significantly higher median salary of $150,000, highlighting Cornell lagging behind in compensation within this function. NYU Stern and Darden also reported higher general Management salaries at $142,500 and $140,000, respectively, indicating that Cornell graduates in this sector are earning below-market rates.

Marketing Hire Correlated with the Technology Industry

Marketing remains a relatively small employment function for Cornell MBAs, with just 8% of graduates entering the field, down from 11% last year. The majority of Marketing hires were in brand and product Management (4%), with a median salary of $129,333. While this represents a slight increase from last year’s $126,000, it remains below the salaries offered at Duke Fuqua ($128,000) and NYU Stern ($129,500). One bright spot for Cornell is business development and sales Management roles, where the median salary reached $141,667, suggesting that specialized roles in revenue generation continue to command higher pay. However, the overall decline in Marketing hiring reflects a slowdown in CPG and tech sector recruitment as companies reduce Marketing budgets in response to economic headwinds.

Final Take

Cornell’s lack of significant hiring in operations, logistics, and Technology further highlights the program’s concentration in Finance and Consulting. Unlike Duke Fuqua and Darden, which reported operations/logistics hiring at 2% with salaries above $150,000, Cornell did not report meaningful placement in this sector. Similarly, Technology roles were virtually absent from the hiring report, whereas NYU Stern placed 2.2% of its graduates in tech with a median salary of $160,000. This suggests that Cornell’s recruitment strengths remain narrowly concentrated.

Overall, the Cornell MBA 2024 employment report reveals a strong shift toward Finance, particularly Investment Banking. The program’s salary stagnation across multiple functions indicates broader economic pressures and industry-wide cost-cutting measures, while its lower placement rates in general Management and Technology suggest fewer opportunities outside of its Finance and Consulting strengths. 

Compared to peer schools, Cornell remains highly competitive in Finance hiring but doesn’t match the salary growth and placement breadth seen at Duke Fuqua, NYU Stern, and Darden, except in Business Development and Rotational/Leadership Development Programs.

Related Read

• Duke Fuqua MBA Salary and Placements
• NYU Stern MBA Salary and Placements
• Darden MBA Salary and Placements

By Region: Cornell MBA Salary and Placements 2024

Cornell Johnson’s 2024 employment data reflects a strong concentration of hiring within North America, with 97% of graduates securing jobs in the region, up from 95% last year. 

Northeast and Investment Banking

The Northeast remains the dominant hiring region, accounting for 65% of placements, a significant increase from 55% in 2023. This shift indicates a growing reliance on Finance and Consulting roles concentrated in major cities like New York and Boston, where firms continue to recruit heavily despite industry-wide hiring slowdowns. However, Cornell’s Northeast placement rate still lags behind NYU Stern’s 83.3%, reflecting Stern’s stronger ties to New York’s Finance sector. The median base salary in the Northeast remains unchanged at $175,000, suggesting salary stagnation in core industries like Investment Banking and Management Consulting.

West – Decline in Hiring and Salary

The West region experienced a notable decline, dropping from 16% in 2023 to 14% in 2024, with a sharp reduction in median salary from $175,000 to $145,000. This decline aligns with the broader slowdown in Technology hiring, as many firms on the West Coast, particularly in the Bay Area and Seattle, continue to scale back MBA recruitment due to economic uncertainty and cost-cutting measures. 

In contrast, NYU Stern reported a lower 4.4% hiring rate in the West but maintained a higher median salary of $150,000, indicating that while fewer roles are available, they remain well-compensated. Duke Fuqua (16%) and Darden (8.2%) also reported stronger hiring in the West, with Darden maintaining a competitive $175,000 median salary. 

Cornell’s declining salary in the West suggests a shift away from lucrative tech roles towards lower-paying corporate positions in industries like retail and Healthcare.

Midwest Decline in Salary  – A Familiar Story

In the Midwest, hiring remained stable at 9%, but the median base salary dropped sharply from $170,000 in 2023 to $144,000 in 2024. This drop in compensation indicates a shift in hiring trends within the region, likely due to fewer high-paying private equity and Consulting roles in cities like Chicago. 

Darden’s Midwest hires earned a significantly higher median salary of $175,000, highlighting Cornell’s weaker positioning in this region. NYU Stern’s placement in the Midwest was marginal at 1.3%, while Duke Fuqua reported 10% of its graduates securing jobs there, suggesting a more balanced employment footprint compared to Cornell’s concentration in the Northeast.

Mid-Atlantic – A rare upwards trend

The Mid-Atlantic region saw a reduction in hiring from 7% in 2023 to 5% in 2024, but salary figures increased from $175,000 to $182,500. This suggests that while fewer roles were available, the positions that remained were more lucrative, likely concentrated in corporate Finance, Healthcare, and government Consulting roles in cities like Washington, D.C, and Philadelphia. In comparison, NYU Stern placed just 2.2% of its graduates in the Mid-Atlantic, with a slightly lower median salary of $181,000, while Darden had a strong presence, with 26.9% of hires securing roles in the region.

Southwest – Salary Surge with Selective Talent

The Southwest saw a sharp decline in hiring, dropping from 7% in 2023 to 4% in 2024, but salaries surged from $175,000 to $190,000. This trend is in line with the increased demand for Energy sector and Consulting roles in Texas, where firms are offering higher compensation to attract top talent. The shift of major Technology and private equity firms to Texas due to lower corporate taxes and business-friendly policies could also be influencing salary growth. 

Duke Fuqua (15%) and Darden (12.9%) had significantly higher placement in the Southwest, but Darden’s median salary was slightly lower at $180,000. NYU Stern’s presence in the Southwest was minimal at 2.2%, with a median salary of $130,000, reflecting fewer high-paying Finance and Consulting opportunities in the region for Stern graduates.

Cornell clearly has an advantage in Southwest.

South – Sharp Fall in Demand

The South witnessed a steep decline in hiring, from 7% in 2023 to just 3% in 2024, with median salaries dropping from $175,000 to $135,000. This suggests a reduction in demand for MBA talent in industries like Healthcare and consumer goods, which traditionally drive employment in the region. 

In contrast, Duke Fuqua placed 17% of its graduates in the South, showing stronger regional ties, while Darden had an even higher 26.9% placement rate, both with a median salary of $175,000. 

NYU Stern had minimal hiring in the South (2.2%) but reported a significantly higher median salary of $155,000, suggesting that while fewer opportunities exist, they are more financially rewarding.

International placements remained extremely limited, with only 2% of Cornell graduates securing roles outside North America, a sharp drop from 5% last year – a reflection of a strong job market in the Finance industry.

The median salary for roles in Asia and the Middle East/North Africa (MENA) increased to $143,969, up from $125,000 for international placements last year, indicating that while hiring declined, companies in these regions are offering higher compensation to attract MBA talent. NYU Stern placed 4% of its graduates in Asia and MENA with a median salary of $155,000, showing stronger international opportunities, while Darden placed 2% in Asia at a lower median salary of $126,829. 

Final Take

Overall, Cornell’s 2024 employment report reflects a growing reliance on Northeast hiring, weaker salary performance in the West and Midwest, and declining placement rates in the South and Southwest - with the latter attracting one of the best compensation despite lower placements. 

While Finance and Consulting firms continue to hire in key cities like New York, Cornell faces increasing competition from NYU Stern in the Northeast and Duke Fuqua and Darden in the South and Midwest. 

The declining salary trends in certain regions indicate shifting industry dynamics, particularly in Technology and General Management roles, while the rise in Southwest salaries suggests a growing premium for Energy and Consulting talent. 

Top Employers: Cornell MBA Salary and Placements 2024

The 2024 employment report for Cornell MBA reflects a continued presence of major Consulting, Financial Services, and Technology firms among the top employers, with some notable shifts from the previous year. 

Consulting Giants Active at Cornell

Consulting firms such as Bain & Company, BCG, McKinsey, Deloitte, and Strategy& remain key employers, reinforcing the program’s strong pipeline into strategy and Management Consulting roles. 

Demand for Strategy Consulting and Specialized Consulting Roles Increase

EY-Parthenon has replaced EY, signaling an increased demand for its strategy-focused advisory services. This aligns with the industry-wide trend where firms are shifting focus toward high-value strategy Consulting amid economic uncertainty.

In Financial Services, traditional banking and investment firms continue to play a significant role. However, while Bank of America and Citi remain on the list, Morgan Stanley and Wells Fargo no longer appear, replaced by firms such as Moelis & Company, RBC Capital Markets, and Nomura/Greentech. 

Sustainable Finance and Energy

The inclusion of Nomura/Greentech suggests a rising interest in sustainable Finance and Energy transition strategies, a trend that has gained momentum across top business schools. Similarly, the return of UBS and JP Morgan Chase & Co. reflects continued demand for roles in Investment Banking and wealth Management.

Drop in Demand – Media and Telecom

Amazon remains a key employer, reinforcing the company's continued hiring despite industry-wide cutbacks in Technology. However, the absence of Altman Solon—a specialist in TMT (Technology, media, and telecom) Consulting—suggests a shift in hiring priorities, potentially due to reduced deal-making activity in the media and telecom sectors. 

The presence of PricewaterhouseCoopers LLP (PwC) is also notable, marking a shift towards more diversified professional services recruitment. Overall, these changes suggest that while Finance and Consulting remain dominant, the composition of hiring firms reflects evolving industry trends, including a greater focus on sustainability, traditional IB roles, and strategic advisory services.

Reference

• Cornell MBA Employment Trends