Analysis: NYU Stern MBA Salary and Placements (2024)

In this in-depth analysis of NYU Stern MBA employment trends, we cover:

• Overview
• By Industry: NYU Stern MBA Salary and Placements (2024)
• By Function: NYU Stern MBA Salary and Placements (2024)
• By Location: NYU Stern MBA Salary and Placements (2024)
• Top Employers: NYU Stern MBA Employment Report 2024

Overview

Consulting remains a dominant career path, with 37% of graduates securing roles in the industry while the median base salary holds steady at $175,000, matching last year’s record high. Although the percentage entering consulting reflects a dip from 41.9% in 2023, the trend is a larger industry correction. Investment banking continues to show robust hiring, with 27.4% of the class entering the field—up from approximately 23% last year, reinforcing Stern’s strong ties to Wall Street.

Summer internships remain a critical pathway to full-time employment, with 99.7% of MBA’s receiving offers. Notably, 84.5% of these internships were school-facilitated, reflecting Stern’s active role in connecting students with employers. 71.8% of full-time offers stemmed from internships, highlighting the effectiveness of Stern’s internship-to-hire pipeline. On-campus interviews accounted for 9.9% of hires, while 1.4% came through job postings, resume books, and referrals, demonstrating the value of the school’s career services.

By Industry: NYU Stern MBA Salary and Placements (2024)

The NYU Stern MBA 2024 employment report reveals significant shifts in industry hiring patterns, with Consulting and Financial services continuing to dominate, accounting for 37% and 35.7% of hires, respectively. 

Consulting and Investment Banking – Base Salary Benchmarked and Stagnant at $175,000

The median base salary for both sectors remains at $175,000, consistent with last year for Financial Services but reflecting a drop from $188,000 in Consulting, indicating potential market saturation and cost adjustments within the sector. The drop contrasts with Columbia, where consulting salaries remain at $188,000, suggesting stronger compensation at the peer M7 school.

Financial Services – Investment Banking Boom

Notably, Financial Services hiring at Stern rose from 29.4% to 35.7%, reflecting a 6.3% increase – a demand driven by Investment Banking and Private Equity roles, aligning with Columbia’s 35.9% financial services hiring. However, the median signing bonus for Stern Financial Services graduates fell to $50,949 from $54,539, suggesting tightening budgets despite steady hiring rates.

Technology Slowdown at NYU Stern

The Technology sector at Stern witnessed a notable decline in hiring, dropping from 14.2% to 9.1%, with median base salaries falling from $152,000 to $143,500. The broader tech sector layoffs and reduced recruitment impacted Technology hiring at Columbia too, where 10% of hires entered the sector but with a higher median salary of $160,000. A lower salary at Stern indicates potential differences in job functions, with more graduates entering non-technical or operational roles.

CPG – Rose at NYU Stern

Consumer packaged goods (CPG) hiring at Stern rose from 3% to 5.7%, signaling increased recruitment in this sector. However, the median base salary for CPG remains relatively modest at $127,000, with a signing bonus of $30,500. Stern was behind Columbia, where CPG salaries reached $134,750.

Law – A niche placement

Law remained a small yet highly lucrative sector, accounting for 2.2% of hires with a median base salary of $215,000, consistent with last year. The segment reflects the ongoing strength of New York’s legal market. 

Healthcare – Limited Hiring at NYU Stern

Similarly, the Healthcare sector at Stern shows limited hiring at 1.7%, with salaries of $135,000 and signing bonuses at $21,817. Comparatively, Columbia reports 3.8% hiring at a higher median salary of $137,000.

Entertainment, Media and Sports – Modest Improvements

Entertainment, media, and sports hiring at Stern rose slightly from 3.4% to 3.9%, with salaries maintaining a modest $141,000. This sector continues to attract a niche group of students, though the lack of reported signing bonuses suggests limited upfront compensation in creative industries.

Final Take

The overall employment trends at Stern indicate resilience in Finance and Consulting but highlight emerging challenges in Technology and salary stagnation across key sectors, reflecting broader market uncertainty and economic shifts.

By Function: NYU Stern MBA Salary and Placements (2024)

The NYU Stern MBA Class of 2024 reflects notable shifts in employment by function, with Consulting and Finance/Accounting continuing to dominate hiring, albeit with some shifts in compensation and pay structures. 

Consulting – Stabilizing at 42% of All Hires

Consulting remains the largest function, accounting for 42.4% of hires, a decrease from 48.5% in 2023. The shift aligns with broader market corrections in Consulting. Management Consulting, the largest sub-function, employed 31% of graduates with a median base salary of $182,500, surpassing last year’s $180,067. However, the median signing bonus fell to $28,284 from $30,797, suggesting firms are slightly adjusting offer packages in response to market pressures. Comparatively, Columbia MBA graduates secured 39.2% of roles in Consulting, with a higher median base salary of $190,000, indicating a stronger upward trend in compensation at Columbia relative to Stern.

Strategy Consulting – Biggest Casualty in Median Base Salary

Strategy Consulting, comprising 5.7% of hires at Stern, experienced a salary drop to $152,250 from last year’s $185,000, while Technology Consulting roles, at 2.2% of hires, saw median salaries of $160,000 with a significant $36,000 signing bonus, highlighting demand for tech-oriented consultants. 

Investment Banking – Stern’s Secret Weapon

Finance/Accounting continues to be a stronghold for Stern, accounting for 37.1% of hires, up from 31.4% in 2023. Investment Banking remains the dominant sub-function, comprising 21.4% of hires, with compensation stable at $175,000 median base salary and a $56,000 signing bonus. This marks a slight increase in hiring from 19.5% last year, reflecting sustained demand for Stern graduates in core Financial Services. In comparison, Columbia reported 20.6% of hires in Investment Banking, but with a lower median base salary of $158,550. The stability in Stern’s Investment Banking salaries contrasts with the dip in Columbia’s, suggesting Stern’s unique class, career service team, and curriculum driving stable recruitment.

Private Equity, while a smaller portion of hiring at 2.2%, saw median salaries of $166,512, though this represents a decline from $190,000 in 2023. Columbia, by contrast, reported 5.3% of hires in Private Equity with a median salary of $142,500, reflecting a broader base of hiring but at a lower pay scale.

Marketing and Sales – Taking Advantage of New York City’s Advertising Industry

Marketing and Sales accounted for 10% of hires, consistent with last year’s 10.2%. However, base salaries dropped to $129,500 from $150,000, reflecting slower growth and tighter budgets in Marketing functions across industries. 

Brand management roles, comprising 4.4% of hires, reported a $127,000 median salary, while product management roles, at 3.9%, maintained higher salaries at $155,000 with a $37,857 signing bonus, suggesting greater compensation for techno-functional roles. 

General Management Boom Spike at NYU Stern

General management roles saw an uptick to 5.2% of hires from 2.7% last year, with salaries increasing to $142,500 from $137,500. Columbia’s General Management hiring rate of 4.3% mirrors this trend, with a comparable $140,000 median base salary. Overall, while compensation for some functions at Stern remains stable, the lack of significant growth in key areas, Marketing despite NYC’s strengths in Advertising, reflects broader market stagnation. 

Final Take

Stern’s employment outcomes remain strong, but the economic environment is influencing compensation structures and hiring patterns across industries and especially New York based schools.

By Location: NYU Stern MBA Salary and Placements (2024)

North East – 83.3% of All Hires

The NYU Stern MBA 2024 employment report by location highlights a notable concentration of graduates in the Northeast, with 83.3% securing positions in the region, up from 77.6% last year. 

Stern’s strong ties with New York’s Financial and Consulting recruiters continues to be visible this year. 

Despite increased placement, the median base salary in the Northeast remained stagnant at $175,000. Columbia’s data shows a slightly lower percentage of graduates placed in the region. at 79%, indicating Stern’s deeper regional footprint.

West Coast – Technology Placements Suffered

The West Coast experienced a sharp decline in hiring, with only 4.4% of graduates placed in the region, compared to 8.7% the previous year. The median base salary slightly increased to $150,000 from $147,500. The reduction in hiring aligns with broader challenges in the Technology sector, where layoffs and hiring freezes have impacted recruitment. The slowdown in tech, concentrated in California, reflects a shift in demand for MBA graduates away from roles in Product Management and innovation-focused industries. Columbia’s West Coast placement figures are not detailed, but its higher Asia placement (9%) suggests a stronger pivot toward international markets for tech-related roles.

Mid-Atlantic Slowdown, South Marginal Increase

In the Mid-Atlantic, hiring dropped to 2.2% from 3.8%, but the median base salary rose to $181,000 from $175,000. This increase could be attributed to competitive offers in smaller markets like Washington D.C. and Philadelphia, where specialized Finance and Healthcare roles command higher premiums. Similarly, the South saw an increase in placement from 1% to 2.2%, with the median base salary at $155,000. The rise in Southern placements may reflect the ongoing trend of companies relocating to business-friendly states such as Texas and Florida, driven by lower taxes and operational costs. The Technology and Energy firms, in particular, have expanded in the South, contributing to the uptick.

Southwest Down

The Southwest, however, experienced a drop in hiring to 2.2% from 2.8%, and the median base salary declined to $130,000 from $165,000. This shift could indicate that while firms continue to hire, they are offering less competitive packages, reflecting economic uncertainty in industries like oil and gas, which dominate this region.

Asia and the Middle East - Growth in Median Base Salary

Asia and the Middle East saw a significant increase in hiring, rising to 4% from 2.4% last year. The median base salary also rose sharply to $155,000 from $110,000. The change reflects the strengthening of financial hubs such as Dubai and Singapore, where MBA talent is increasingly in demand for Investment Management and Consulting roles. In comparison, Columbia placed 9% of its graduates in Asia, but at a lower median salary of $115,069. Stern’s higher compensation in this region suggests a focus on elite Finance roles and Columbia’s likely General Management placements in Asia.

No Placements in Europe, Latin America and the Caribbean

Placements in Latin America and the Caribbean remained minimal, at 0.4%, with no reported median salary. Similarly, placements in Europe were not reported this year, a decline from the 2.1% figure last year, where the median salary was $123,371. Columbia’s 5% placement in Europe at a lower median salary of $98,296 suggests candidates returning to employers with no upwards mobility in compensation. 

Final Take

Overall, NYU Stern’s employment trends reflect the dominance of the Northeast, buoyed by New York’s financial sector, while shifts in the West and Southwest align with broader market trends in Technology and Energy. The rising importance of Asia and the Middle East highlights increasing global demand for MBA talent in emerging financial hubs, offering competitive compensation packages.

Top Employers: NYU Stern MBA Salary and Placements (2024)

Investment Banking –  Hiring Growth

Investment Banking continues to show strength, with Bank of America (6 hires), Goldman Sachs (5 hires), and Morgan Stanley (4 hires) reinforcing Wall Street’s appetite for MBA talent. Additionally, firms like Guggenheim Partners (4 hires) demonstrate the expanding role of mid-sized Investment Banks in hiring, reflecting diversification within the financial services sector.

J.P. Morgan leads the list with 13 hires, up from 8 last year, signaling a stronger demand for MBA talent in investment banking. This aligns with the resurgence in Financial Services hiring as firms navigate post-pandemic deal flows and expansion in advisory roles.

McKinsey, BCG and Bain  – Sharp Drop in Hiring

In contrast, McKinsey & Company hired 11 graduates, a sharp decline from 24 hires in the previous year. The significant drop could reflect a recalibration in Consulting firms’ recruitment strategies, driven by slower growth in demand for large-scale transformation projects. 

Similarly, Boston Consulting Group (BCG) hired 5 graduates, down from 13 last year, while Bain & Company hired 5 graduates, a notable decrease from 12. This decline in Consulting placements mirrors broader market trends, where economic uncertainty has led firms to streamline their hiring to focus on essential roles.

Boutique Consulting Hiring Up, EY-Parthenon Steady

New entrants such as Alvarez & Marsal (6 hires), Kearney (6 hires), and Lincoln International (5 hires) reflect growing interest in boutique Consulting and specialized advisory firms. Meanwhile, EY-Parthenon and Deloitte each hired 10 graduates, showcasing consistency from previous years (EY-Parthenon hired 12 last year, while Deloitte hired 18). These firms continue to drive recruitment in strategy consulting and advisory services, particularly in areas like restructuring and digital transformation, sectors that remain resilient despite economic headwinds.

Citi is Back

Citi’s hiring of 10 graduates, absent from last year’s top 10, highlights increased investment by the bank in MBA talent, possibly driven by expansions in corporate banking and wealth management. This correlates with Citi’s broader restructuring and emphasis on expanding its global reach.

Amazon – Surprisingly Absent from the Top Employer List

Notably, Amazon did not appear in this year’s top employer list, compared to 10 hires last year. This reflects the slowdown in tech sector hiring, consistent with industry-wide layoffs and hiring freezes, as firms like Amazon recalibrate post-pandemic growth.

Final Take

The employment landscape at NYU Stern reflects a rebalancing between Consulting and Finance, with financial institutions increasing their share of MBA talent. At the same time, Consulting firms appear to be scaling back, focusing on leaner, more strategic hires. Top Technology recruiters was non-existent at Stern. The absence of Amazon and Adobe - two regular recruiters at peer schools was surprising.  

Reference

• NYU Stern MBA Placement