Wharton’s strength in Finance was intact with Investment Banking and the Private Equity industries attracting 24% of the hires while 29% of the post-MBA job function was also in the Finance specialization.
In this in-depth analysis of the Wharton MBA Employment trends and Salary for the 2021 Graduating Class, we cover:
- Wharton MBA Salary by Industry (2021)
- Wharton MBA Salary by Function (2021)
- Wharton MBA Salary by Location (2021)
- Wharton MBA Top Employers (2021)
- Wharton MBA Career Service Team - Effectiveness (2021)
- Wharton MBA Entrepreneurship (2021)
Wharton MBA Salary by Industry (2021)
Technically, Finance was the second dominant industry chosen by 26% of Wharton MBAs behind consulting (27%). The 2021 trend should be considered with a caveat – a significant percentage of consulting engagements are in Corporate Finance or in offering consulting solutions for FinTech projects, taking the actual percentage in Finance at a much high percentage than the 26% shared in the latest Wharton MBA employment report. Investment banking continued its unique position among Wharton MBA candidates, with 13% of the class opting for the industry and earning the highest total salary ($200,000) while Consulting was at second ($195,000).
Private Equity and Investment Management also maintained the $190,000+ remuneration, cementing Wharton’s ability to attract some of the best offers in Finance. Consulting’s popularity to a large degree was in the $165,000 median base salary and the $195,000 total salary that remained consistent across top schools. Healthcare, despite offering the lowest remuneration of $151,000, was chosen by 5% of the class.
| Wharton MBA Salary by Industry | Percent Hired | Median Base Salary | Median Sign-on Bonus | Total Salary |
|---|---|---|---|---|
| Investment Banking/Brokerage | 13% | $150,000 | $50,000 | $200,000 |
| Consulting | 27% | $165,000 | $30,000 | $195,000 |
| Private Equity/Buyouts/Other | 11% | $167,500 | $25,000 | $192,500 |
| Investment Management | 4% | $150,000 | $40,000 | $190,000 |
| Technology | 19% | $141,000 | $30,000 | $171,000 |
| Healthcare | 5% | $131,000 | $20,000 | $151,000 |
Wharton MBA Salary by Function (2021)
Strategy consulting was the most chosen career function by 34% of Wharton MBAs. The salary of strategy consultants is tied with private equity professionals at $195,000, but private equity and venture capital offered the highest base salary of $170,000.
The technology industry’s rise to 19% of all job offers was contributed by Big Tech’s Product Management and General Management roles which are often seen as a pre-cursor for CXO roles. The two roles together fetched 14% of offers where the total salary was at a relatively low - $170,000-$180,000 range. The sacrifice in median base salary is considered a strategic move to achieve the larger goal. Investment bankers took the highest salary by function as well at $200,000, followed by investment/portfolio managers at $197,500.
| Wharton MBA Salary by Function | Percent Hired | Median Base Salary | Median Sign-on Bonus | Total Salary |
|---|---|---|---|---|
| Investment Banking | 11% | $150,000 | $50,000 | $200,000 |
| Investment Management/Portfolio Management | 6% | $150,000 | $47,500 | $197,500 |
| Consulting/Strategy | 34% | $165,000 | $30,000 | $195,000 |
| Private Equity/Venture Capital | 12% | $170,000 | $25,000 | $195,000 |
| Product Management | 8% | $144,000 | $35,000 | $179,000 |
| General/Project Management/Management Development | 6% | $138,000 | $32,500 | $170,500 |
Wharton MBA Salary by Location (2021)
When compared to Harvard and Stanford – as often is the case, Wharton had higher US placements (92.4%) as well as international placements (7.6%). Northeast was the most chosen location by 47.5% of Wharton MBAs, indicative of the distribution of Finance powerhouses in the region.
25.6% chose to settle in the West due to its proximity to Silicon Valley. The Northeast offered a $9,000 higher salary of $159,000 than the West. The mid-Atlantic offered the highest salary by region of $165,000. Internationally, 4.4% of Wharton MBAs accepted opportunities in Asia for a $20,500 higher median base salary than the 1.4% of their European peers. However, the sign-on bonuses in Europe were higher by $15,000 at $42,744.
Wharton MBA Top Employers (2021)
Wharton does not disclose their top employers by ranking. Consultancies like Accenture, Strategy&, and MBB were present. Within financial services, private equity firms such as Blackstone Group, Lazard, and Houlihan Lokey were among the top employers, in addition to Credit Suisse, Deutsche Bank, and Goldman Sachs.
Adobe, LinkedIn, Amazon, Apple, and Google were the dominant tech companies.
Activision Blizzard from the gaming industry, PepsiCo from the consumer goods industry, and Pfizer from pharmaceuticals pulled top talent away from Finance, Consulting, and Technology firms.
Wharton MBA - Career Service Team - Effectiveness (2021)
Wharton offers limited information on how its students are placed. 75% of the entire class accepted employment offers, but the source of the employment offers is not disclosed. 16% of the class were sponsored students and chose to return to their sponsors. 54% of students were career switchers, changing their industry and function. 17% changed only their function, and 14% changed only their industry. 8.4% of those who did not change their industry or function acquired a new job title, which could possibly be a promotion for returnees.
Wharton MBA - Entrepreneurship (2021)
Self-employment and starting own business were the second most common reasons for not seeking employment. 5% of students initiated their own start-ups. However, the industry distribution is not disclosed.
Related Services
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Related Books
• F1GMAT’s Wharton MBA Essay Guide
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