Ross MBA Employment Report 2023 - Analysis
The 2023 Ross MBA Employment report indicates an effective career service team and diverse career trajectories for Ross MBA graduates.
94% of the cohort, with 7 out of 8 accepted offers, were facilitated through school-driven recruitment activities. Impressively, 96% secured job offers within three months with a median base salary of $175,000, and 45% entered Consulting.
Ross MBA Employment Statistics: By Industry (2023)
In the Ross MBA Employment Report for the year 2023, Consulting leads with 44.90% of graduates securing offers in the industry – retaining Ross as ‘the’ Consulting school. The median base salary of $190,000 and a median signing bonus of $30,000 match the Consulting remuneration standard at M7 and T10 schools.
Technology remained a prominent choice in second position, securing 15.50% of placements, offering a median base salary of $152,625 and a standard signing bonus of $30,000.
Financial Services at #3 attracted 14.20% of graduates with a median base salary of $175,000 and $46,250 as a signing bonus – the highest for Ross MBA.
In the Consumer Packaged Goods sector, 5.40% of graduates found employment with a median base salary of $128,000, lower than the $130,000 threshold we have seen in M7 and T10 schools. The second highest bonus ($40,000) for Ross, offsets the low median base salary.
Healthcare with 5.7% representation continued to attract offers at $130,000+ median base salary, while retail had a much better showing at Ross ($140,000) compared to other T10 schools. The Manufacturing sector, though, has the lowest pay packages despite a strong median sign-on bonus.
Energy also has a similar median base salary as Manufacturing but could attract only $22,500 in sign-on bonus, pushing the industry to the bottom of the table.
| Industry | Percent Hired (2023) | Median Base Salary (2023) | Median Signing On Bonus (2023) |
| Consulting | 44.9% | $190,000 | $30,000 |
| Consumer Packaged Goods | 5.4% | $128,000 | $40,000 |
| Energy | 3.4% | $125,000 | $22,500 |
| Financial Services | 14.2% | $175,000 | $46,250 |
| Healthcare | 5.7% | $135,000 | $30,000 |
| Manufacturing | 2.7% | $125,000 | $32,500 |
| Retail | 3.7% | $140,000 | $25,000 |
| Technology | 15.5% | $152,625 | $30,000 |
Related: Ross MBA Change in Salary by Industry (Trends)
Ross MBA Employment Statistics: By Function (2023)
49% of MBA graduates secured jobs in the Consulting function – the 50+ target that schools in the 8 -15 rank are aiming for. This is from a strategy that the higher the consulting offers, the better the overall post-MBA salary for the class, as consulting has benchmarked the base salary at $190,000 and above for top schools.
Ross, however, was $5,000 below at a median base salary of $185,000 and a signing bonus of $30,000.
Second in terms of percentage of offers was Finance, which attracted 14.50% of graduates, offering a median base salary of $175,000 and a signing bonus of $45,000.
Investment Banking positions accounted for 7.40% of placements, presenting a median base salary of $175,000 and the highest signing bonus of $50,000.
Private Equity/Venture Capital offers were limited to 2% of all placements.
Ross retained its title also as a General Management and Marketing/Sales specialist with the10.80% of placements in the former, providing a median base salary of $140,000 and 14.20% in the latter with a median base salary of $135,000.
Operations/Logistics, a strength of Michigan, translated to 4.70% offers – an exception in modern post-MBA placement trends with an impressive $145,000 median base salary and a strong $45,000 sign-on bonus, taking the total closer to $200,000.
| Function | Percent Hired (2023) | Median Base Salary (2023) | Median Signing On Bonus (2023) |
| Consulting | 49% | $185,000 | $30,000 |
| Finance | 14.5% | $175,000 | $45,000 |
| Investment Banking | 7.4% | $175,000 | $50,000 |
| Private Equity/Venture Capital | 2% | $150,000 | $37,500 |
| General Management | 10.8% | $140,000 | $32,500 |
| Marketing/Sales | 14.2% | $135,000 | $30,000 |
| Operations/Logistics | 4.7% | $145,000 | $45,000 |
Related: Ross MBA Change in Salary by Function (Trends)
Ross MBA Employment Statistics: By Region (2023)
Most post-MBA jobs at Ross were concentrated within the Tri-State Area (NY, NJ, & CT), leading at 24.30%, followed closely by the Chicago Metro at 22.60%.
A significant two-thirds of graduates accepted offers in key employment hubs like the New York metro, West Coast, or Chicago.
The Midwest region emerged as a focal point, securing 31.10% of placements with a median base salary of $175,000 and a standard signing bonus of $30,000. Following closely, the Northeast accounted for 28% of placements, offering a competitive median base salary of $175,000.
The West region showcased substantial opportunities, representing 19.30% of placements with a median base salary of $162,750 – a range seen in the Technology industry.
In the Southwest, 10.50% of graduates found placements with a median base salary of $163,463.
The Mid-Atlantic, though with a lower percentage at 5.70%, provided competitive compensation, offering a median base salary of $150,000 and a signing bonus of $30,000.
Only 2 % of MBA graduates got placed internationally and offered competitive median base salaries of $131,773.
| Region | Percent Hired (2023) | Median Base Salary (2023) | Median Signing On Bonus (2023) |
| Mid-Atlantic | 5.7% | $150,000 | $30,000 |
| Midwest | 31.1% | $175,000 | $30,000 |
| Northeast | 28% | $175,000 | $35,000 |
| South | 3.4% | $175,000 | $30,000 |
| Southwest | 10.5% | $163,463 | $30,000 |
| West | 19.3% | $162,750 | $30,000 |
| International | 2% | $131,773 | $26,750 |
Ross MBA Employment Statistics: Top Employers (2023)
McKinsey & Co. emerged as the top employer, making 31 hires, followed closely by Bain & Co. Inc. with 25 hires and Boston Consulting Group with 16. Deloitte and EY-Parthenon secured 14 and 12 hires, respectively, taking the total consulting hires to over 120 – a unique trend only seen at Ross.
Notably, Amazon, Dell Technologies, PwC Strategy&, and JP Morgan Chase & Co. each made 7 hires.
PepsiCo Inc. stands out as a significant employer, leading with 67 hires and representing a substantial presence in the consumer packaged goods industry and likely in the General Management and Marketing/Sales functions.
Accenture Strategy and JP Morgan Chase & Co. also contributed to the diverse employer landscape, with 7 hires each.
| Top Employers | No. of Hires |
| McKinsey & Co. | 31 |
| Bain & Co. Inc. | 25 |
| Boston Consulting Group | 16 |
| Deloitte | 14 |
| Amazon | 12 |
| EY-Parthenon | 12 |
| Dell Technologies | 7 |
| PwC Strategy& | 7 |
| PepsiCo Inc. | 7 |
| Accenture Strategy | 6 |
| JP Morgan Chase & Co. | 7 |
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