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NYU Stern MBA Breaks the $200,000 psychological barrier (2023 Salary)

NYU Stern MBA Employment Report - Class of 2023

Sternies have set a new milestone for the MBA Class of 2023. The median base salary for the class has reached an all-time high of $175,000 - $5,000 more than the previous year. Additionally, the average total salary for the Class of 2023 has increased from $196,143 to a new high of $201,727. The latest MBA employment report highlights that 94 percent of the 315 graduates (equivalent to 89% of the class) who were seeking employment accepted positions within three months of graduation.

Stern MBA Salary - By Industry

Which is the best post-MBA industry for Stern MBA?

Consulting gained traction, while finance and technology have seen slight declines in 2023.

With a 10% increase, Consulting makes up 41.90% of all hires. However, Finance and Technology experienced declines, with finance seeing a 5% decrease, representing 29.40% of placements, and technology/telecommunications with a 3% decrease, accounting for 14.20% of hires.

Consulting emerged as the highest-paying industry, with a median salary of $188,000 and a competitive average signing bonus of $30,179. Financial Services offered a median salary of $175,000 but had the highest average signing bonus at $54,539. Technology/Telecommunications had a median salary of $152,000 and an average signing bonus of $41,680.
 

Stern MBA Salary by Industy % Hired Median Salary Average Signing Bonus
Consulting 41.9% $188,000 $30,179
Financial Services 29.4% $175,000 $54,539
Technology/Telecommunications 14.2% $152,000 $41,680
Consumer Packaged Goods 3% $125,000 $30,000
Entertainment/Media/Sports 3.4% $140,000 NA
Law 2.4% $215000 NA

Stern MBA Salary - By Function

The NYU Stern MBA employment report for 2023 shows significant shifts in hiring functions compared to the previous year.

Which is the best post-MBA function for Stern MBA?

Consulting saw a remarkable 11% increase, accounting for 48.50% of all hires. Management consulting specifically saw a substantial 12% surge in recruitment, constituting 35.80% of placements. On the other hand, Marketing/Sales and Investment Banking both experienced a 4% decline.

Marketing/Sales comprised 10.20% of hires, while Investment Banking represented 19.50%.

The overall salary trends are relatively consistent, with Consulting and Management offering competitive median salaries at $185,000 and $180,067, respectively. Investment Banking continued to provide the same median salary but with an average signing bonus of $57,518. Marketing/Sales offered a median salary of $150,000, while Finance/Accounting roles had a high average signing bonus of $53,237.

Stern MBA Salary by Function % Hired Median Salary Average Signing Bonus
Consulting 48.5% $185,000 $29,828
Management 35.8% $180,067 $30,797
Technology 2.7% $175,000 $30,714
Finance/Accounting 31.4% $175,000 $53,237
General/Corporate 3.8% $132,500 $31,047
Investment Banking 19.5% $175,000 $57,518
Private Equity 1.7% $190,000 NA
Venture Capital 2% $140,000 NA
Management 4.8% $130,000 $27,243
General Management 2.7% $137,500 $24,000
Marketing/Sales 10.2% $150,000 $43,987
Product Management 6.5% $155,000 $46,731
Law 2.4% $215,000 NA

By Region

The Northeast dominated the NYU Stern MBA employment report, with 77.60% of graduates hired, securing a median base salary of $175,000. The West and Asia & Middle Eastern regions also made a significant impact, with 8.70% and 2.40% respectively. In terms of median base salary, the Mid-Atlantic region matched the Northeast.

Asia/the Middle East and Europe were two major destinations for students placed internationally, with 2.4% and 2.1% hiring rates, respectively.

North American Region % Hired Median Base Salary
Mid-Atlantic 3.8% $175,000
Midwest 1.4% $156,500
Northeast 77.6% $175,000
South 1% NA
Southwest 2.8% $165,000
West 8.7% $147,500
World Regions % Hired Median Base Salary
Asia & Middle East 2.4% $110,000
Europe 2.1% $123,371

Top Employers at NYU Stern MBA

How effective was the Career Service team for the Stern MBA Class of 2023?

Out of all the opportunities available, only 15.9% were discovered by students themselves, while 84.1% were facilitated by schools. Of the available jobs, 63.2% were full-time internships, while 13.7% were obtained through on-campus interviews at Stern, and only 2.9% of students availed the opportunities through Stern Network (which includes alumni referrals, faculty referrals, clubs, and treks).

Who were the top Employers?

The NYU Stern MBA employment report for the class of 2023 shows McKinsey & Company as the top employer with 24 hires in the consulting industry, followed closely by Deloitte with 18.

Strategy& and Boston Consulting Group (BCG) have 15 and 13 acceptances, respectively, further emphasizing the strong presence of consulting firms. EY-Parthenon and Bain & Company, with 12 acceptances each, also contribute to this trend.

Amazon, as in other top US MBA programs, leads among Tech giants with 10 acceptances, while J.P. Morgan and Credit Suisse dominate the finance sector with 8 and 7 acceptances, respectively.

Top Employers Number of Acceptance
McKinsey & Company 24
Deloitte 18
Strategy& 15
Boston Consulting Group (BCG) 13
EY-Parthenon 12
Bain & Company 12
Amazon 10
J.P. Morgan 8
PricewaterhouseCoopers (PwC) 7
Credit Suisse 7

Related Download: F1GMAT's NYU Stern MBA Essay Guide (Sample Essays Included)

Related Service: F1GMAT's NYU Stern MBA Application Essay Editing

Reference: NYU Stern MBA 2023 Employment Report

Winning MBA Essay Guide - A Complete Guide for M7 and Top 15 MBA Application Essays 


F1GMAT's Winning MBA Essay guide will teach you how to transform your essay into a life journey with trials and tribulations that will move the admission team.

+ Over 245 Sample Essays (Read Previews of F1GMAT's Winning MBA Essay Guide Sample Essays here)

+ Top 15 MBA Programs (Harvard, Stanford, Wharton, Columbia, Booth, MIT, Kellogg, Yale, Haas, Darden, INSEAD, LBS, NYU Stern, Tuck, Duke Fuqua, Ross)
+ The Art of Storytelling 
+ Leadership Narratives
+ Review Tips
+ Persuasion Strategies
+ The Secret to "unleashing" your unique voice
+ How to prepare and present for the Video Essay
+ How to write about your Strengths
+ How to write about your Weaknesses
 
 

Want to try the individual school Essay Guides before upgrading to the Winning MBA Essay Guide? Try below.

F1GMAT's Essay Guides

  • Harvard MBA Essay Guide (20 Sample Essays)

    Growth-Oriented Essay: Curiosity can be seen in many ways. Please share an example of how you have demonstrated curiosity and how that has influenced your growth. (up to 250 words) 

    Example #1: Persistence Narrative 
    Background Information: The applicant – a design and music talent, shares her journey through several setbacks. She attributes curiosity to her growth.  
    Curiosity: Philosophy  
    Curiosity (Explained): Curiosity as a philosophy is tough to translate into a narrative unless you are from the creative industry or your contributions had an influence on a solution or an initiative.  
    MBA Essay Strategy: I wanted to capture the humanity of the applicant and her influence in music instead of just highlighting how she overcame multiple roadblocks to gain attention as a designer.  
    Theme: Persistence  
    Read: Harvard MBA Curiosity Essay – Life Starts at NO (Growth-Oriented HBS MBA Essay Example) 

    Example #2: International Community Building 
    Background Information: The applicant, a Machine Learning (ML) entrepreneur specializing in healthcare diagnostics, shares how his curiosity to learn other ML algorithms’ evolution in diagnosing Alzheimer’s, cancer, and heart disease transformed his platform into a global community. 
    MBA Essay Strategy: I wanted to show the applicant’s contributions in diagnostic from 2020 to 2024 by citing two events. Such examples build credibility instead of engagements that were recent. The evolution of the platform from an AI development community to a community for discussing the application of AI in diagnostics is captured through a ‘curiosity’ angle.
    Read: Harvard MBA Curiosity Essay – Growth through Collaboration (AI in Healthcare) (Growth-Oriented HBS MBA Essay Example)

    Example #3: Culture
    Background Information: The applicant, an Entrepreneur from India narrates his first entrepreneurial experience – facilitating exchange of stamps in the late 1990s.
    Theme: Culture
    MBA Essay Strategy:  Instead of addressing the biases in the investor community that could turn preachy, I wanted to focus on the applicant and his entrepreneurial journey by citing two entrepreneurial experiences – a platform(club) for stamp collection and his Grocery delivery App.
    Read: Harvard MBA Curiosity Essay – The American Dream (Growth-Oriented HBS MBA Essay Example)

    Example #4: Addiction
    Background Information: The applicant – a beneficiary of the foster home system, captures the sacrifice his adopted grandparents made to save him from a path of addiction. Paying it back through early intervention among teenagers and community engagement is the curiosity narrative.
    Theme: Addiction
    MBA Essay Strategy:  My strategy is to capture a gratitude narrative in the first one-third of the essay to demonstrate motivation for starting the venture and dedicate the latter part of the essay to the unique solution
    Read: Harvard MBA Curiosity Essay – Drug Addiction and Gaming (Growth-Oriented HBS MBA Essay Example)

    Example #5: Scarcity
    Background Information: The applicant, an education major, recognizes that 70% of all students in Kenya don’t have a computer. The curiosity that drives him to pivot from one solution to another is the growth narrative.
    Theme: Innovation
    MBA Essay Strategy:  Often, innovation is captured with a ‘hero’ narrative where the applicant is the sole originator of an idea. I wanted to break that cliché and include a person from whom the applicant learned to use a concept called ‘scaffolding.’
    Read: Harvard MBA Curiosity Essay – Scarcity (Growth-Oriented HBS Essay Example)

    Example #6: FinTech
    Background Information: The applicant captures a vulnerable moment of a beneficiary to compare his journey of side hustle before a technology giant noticed his talent. Although cryptocurrency is not a flavor for the year, capture niches where innovation is still happening. 
    Theme: Education, Child Welfare
    MBA Essay Strategy:  Empathizing with a techno solution is tough without a strong backstory around the beneficiary. For the essay, I wanted to clearly establish the beneficiary – Rami, before the applicant narrates the similarities to his journey and finally shares the solution that emerged from his curiosity.
    Read: Harvard MBA Curiosity Essay – FinTech as a Tool for Good (Growth-Oriented HBS MBA Essay Example)

    Example #7: Learning from the best
    Background Information: The applicant – a Remote Engineer in the Oil and Gas industry, reflects on a value that has helped her learn from the best regardless of her geographical limitations.
    Theme: Learning
    MBA Essay Strategy:  The effectiveness of the case-study method depends on the assumption that peers in a Harvard MBA class will help elevate your learning experience. For the essay, I have highlighted the applicant’s recognition of this value proposition with three examples.
    Read: Harvard MBA Curiosity Essay – Learning from the Best (Growth-Oriented HBS MBA Essay Example)

    Example #8: Military & Search for IMPACT
    Background Information: The most common narrative for US military applicants is to quote 9/11 and the reaction your immediate family had while watching the events unfold. The horrifying moment is captured as a motivation to join the Military. On digging deeper, most applicants would share that their motivations were diverse.
    Theme: Career Choice
    MBA Essay Strategy:  I wanted to quickly highlight that the applicant had the choice of entering any industry. One achievement to demonstrate his curiosity that I shared in the first half is the invention of a game. Since the game is mentioned in the resume and verifiable through search, I didn’t quote the name. By clearly highlighting the person’s curiosity and career options, the family legacy is used as a factor in joining the military.
    Read: Harvard MBA Curiosity Essay – Career Choice after a Military Career (Growth-Oriented HBS MBA Essay Example)
     
    Leadership-Focused Essay: What experiences have shaped who you are, how you invest in others, and what kind of leader you want to become? (up to 250 words)

    Example #9: Small Business Values
    Background Information: The applicant - a second-generation Asian American, is familiar with the values of fiscal conservatism, building relationships, and understanding the daily struggles of the community through his family’s department store.
    Theme: Customer-Centric
    MBA Essay Strategy:  The applicant’s role in developing an App for the store is highlighted in the essay at a crucial part of the narrative so that the essay is not all about his father. I have also humanized the journey – by sharing how upset the father was when the revenues fell by 40%. The essay is about the transformation in the applicant’s value from a person chasing productivity and optimization technique to someone who is truly thinking about the customers. 
    Read: Harvard MBA Leadership Essay – Small Business Values (Leadership-Focused HBS MBA Essay Example)

    Example #10: Breaking Away from Family Business
    Background Information: A unique challenge that applicants whose parents are public figures or CXOs of businesses or entrepreneurs are the pressure to live up to the parent’s standards or milestones. For the leadership narrative, the burden of legacy is established before the narrative addresses his leadership principles.
    Theme: Authenticity  
    MBA Essay Strategy:  For the essay, I want to capture an entrepreneur’s journey to rise above his entrepreneur father’s image. But I didn’t want to make the entire essay about this complex dynamics. The narrative is around the applicant’s focus on customers and surrounding with teams who keeps him grounded. 
    Read: Harvard MBA Leadership Essay – Breaking Away from Family Business(Leadership-Focused HBS MBA Essay Example)

    Example #11: Creativity and Communication 
    Background Information: When the overall percentage of users with internet access is 62% in South Africa and the inequality accentuated by the rural and urban divide, the applicant endured the lack of digital infrastructure, and spending close to 22% of the family income on gaining relevant information on schools, global exams, and financial assistance. 
    Theme: Creativity, Communication
    MBA Essay Strategy:  The strategy is to share why the applicant values no distraction in a child’s home for optimum education experience. Then I highlight the many roadblocks the applicant’s non-profit faced in receiving fee waiver for their cooperative run ISP.
    Read: Harvard MBA Leadership Essay – Non-Profit (Telecom) (Leadership-Focused HBS MBA Essay Example)

    Example #12: Mental Health
    Background Information: The applicant like most didn’t pay much attention to the mental health epidemic until tragedy hit home.
    Theme: Communication, Innovation
    MBA Essay Strategy:  A question we frequently get from applicants is whether they should cite tragedy in the family as a motivation for a venture or a non-profit initiative. As long as you don’t linger too much on the tragedy and offer a balanced narrative, there are no restrictions on leveraging unique stories from your life. 
    Read: Harvard MBA Leadership Essay – Mental Health (Leadership-Focused HBS MBA Essay Example)

    Example #13: Trauma, Healing & Finding Authentic Self
    Background Information: The applicant narrates the absurdity of war in the narrative about the duties in Kabul, and the trauma. Instead of wallowing in on the horror, the applicant takes what makes military applicants strong and guides unprivileged children build life and leadership skills.
    Theme: Resilience
    MBA Essay Strategy:  Capturing PTSD in an essay, the healing process, and the cues that helped the applicant are too sacred to be shared in a Harvard MBA application essay. However, with the right motivation and narrative arcs, you can capture the essence of your journey without sharing the darkest secrets. That is what I did by merging two stories – the horrors of the war with a non-profit engagement.
    Read: Harvard MBA Leadership Essay – Military & PTSD (Leadership-Focused HBS MBA Essay Example)

    Example #14: Addiction, Setback and Leadership Mantra
    Background Information: In this narrative, the applicant captures Peru’s Silver mining boom of 2006. The growth experienced in her father’s business shifted the family’s economic status to a new stratosphere. Through the changing economic and family dynamics, the applicant finds her voice in a unique way, initially to record her unheard voice but later as one of the youngest subject matter experts in mining and commodities.  
    Theme: Failure
    MBA Essay Strategy:  For the essay, the strategy is to show how life’s unpredictability is a blessing. By narrating two setback events, the essay demonstrates the applicant’s resilience and her acknowledgment of people who made a comeback possible.
    Read: Harvard MBA Leadership Essay – Addiction, Setback and Leadership Mantra (Leadership-Focused HBS MBA Essay Example)

    Example #15: War, Immigration and Starting Over Again
    Background Information: Despite a raging war in Syria, the family of the applicant was unblemished by the chaos. The strategic government assets near the applicant’s house would have made the region an easy target, but it was not. The calmness of her journey is shattered in one event. From the privileges of a cocooned life, the applicant is forced to think about survival, her sister’s future, and her future in the US. The second half of the narrative captures the change that was forced on her. 
    Theme: Gratitude, Resilience
    MBA Essay Strategy:  I consciously chose not to start the essay with a dialogue or trauma. Two lines are allocated to set up the narrative before the trauma event.
    Read: Harvard MBA Leadership Essay – War, Immigration and Starting Over Again (Leadership-Focused HBS MBA Essay Example)

    Harvard MBA Business-Minded Essay: Please reflect on how your experiences have influenced your career choices and aspirations and the impact you will have on the businesses, organizations, and communities you plan to serve. (up to 300 words)

    Example #16: Creative or Finance
    Background Information: The applicant starts the narrative with the origin of her talents. The unbridled enthusiasm receives a reality check when in high school, the applicant’s father has a conversation with her about academics. While the applicant picked up her quant skills, she was reaching over 50,000 loyal fans, and her videos captured 1 million views. 
    Theme: Passion, Talent
    MBA Essay Strategy:  Capturing vulnerability is the toughest part for Harvard MBA applicants. For this essay example, I have captured the applicant’s uncertainty about career choice throughout the essay. Here the goal is to show vulnerability in the career choice essay while for leadership and growth essay, I could capture one example each from creative and PE industry respectively to balance the narrative. So don’t follow this example without a strategy.  
    Read: Harvard MBA Business-Minded Essay – Creative or Finance (Business-Minded HBS MBA Essay Example)

  • Stanford MBA Essay Guide (24 Sample Essays)
  • Columbia MBA Essay Guide (21 Sample Essays)
  • Wharton MBA Essay Guide (15 Sample Essays)
  • INSEAD MBA Essay Guide (19 Sample Essays)
  • Darden MBA Essay Guide  (21 Sample Essays) 
  • Yale SOM MBA Essay Guide (15 Sample Essays)
  • Tuck MBA Essay Guide (15 Sample Essays)
  • Haas MBA Essay Guide (18 Sample Essays)
  • NYU Stern MBA Essay Guide (15 Sample Essays + 6 Examples - Visual Essay)
  • LBS MBA Essay Guide (6 Sample Essays)
  • MIT Sloan MBA Essay Guide (6 Sample Cover Letters + 3 Sample Video Statement Scripts + 3 Sample Optional Essays)
  • Kellogg MBA Essay Guide (11 Sample Essays)
  • Chicago Booth MBA Essay Guide (12 Sample Essays)
  • Ross MBA Essay Guide (31 Sample Essays)
  • Duke Fuqua MBA Essay Guide (10 Sample Essays + Two 25 Random Things Samples)
  • Cambridge MBA Essay Guide (12 Sample Essays)

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