Wharton’s strength in Finance was intact, with Investment Banking and the Private Equity industries attracting 24.3% of the hires, while 27.3% of the post-MBA job function was also in the Finance specialization.
Wharton, Stanford, and Harvard stand at the same place on the podium with a median base salary of $175,000 USD per annum. Although all three have Finance as their dominant industry, Wharton (38.6%) beats both Harvard (34%) and Stanford (33%) in the hiring rates. In case of compensation, Harvard and Stanford are just $2000 ahead of Wharton which has a $173,000 median base salary for Finance.
Wharton MBA Salary by Industry (2022)
The overall placement of the 2022 Wharton MBA class shows a decline (-2.7%) in Consulting placements (24.3%) and a rise (+2%) in Finance (38.6%) industry placements.
Investment banking saw a slight decline (-2%) in the hiring rate to reach 11.7%. Interestingly, Investment Management, which has been on a waning path, has shown a growth of 2% in hiring rate. But Investment Banking continued to maintain its unique position in terms of base salary, with $175,000.
The technology industry seemed quite shaken, with a 3% decline in the hiring rate and a $153,500 annual base salary, one of the lowest base salaries.
Healthcare not only observed a slight increase in hiring rates, from 5% to 5.6% but also a massive hike in annual base salary, which rose from $131,000 to $160,000.
| Wharton MBA Salary by Industry | Percent Hired (2021) | Percent Hired (2022) | Median Base Salary (2021) | Median Base Salary (2022) |
|---|---|---|---|---|
| Investment Banking/Brokerage | 13% | 11.7% | $ 150,000 | $175,000 |
| Consulting | 27% | 24.3% | $ 165,000 | $175,000 |
| Private Equity/Buyouts/Other | 11% | 12.6% | $ 167,500 | $175,000 |
| Investment Management | 4% | 6.4% | $ 150,000 | $170,559 |
| Technology | 19% | 16.9% | $ 141,000 | $153,500 |
| Healthcare | 5% | 5.6% | $ 131,000 | $160,000 |
Wharton MBA Salary by Function (2022)
Strategy consulting was the most chosen career function by 32.3% of Wharton MBAs. The median base salary of strategy consultants is tied with private equity and Investment Banking professionals at $175,000, which also had the highest base salary.
The technology industry’s 17% of all job offers was contributed by Big Tech's Product Management and General Management functions which are often seen as a pre-cursor for CXO roles. Together, the two roles fetched 13.4% of offers, and the median base salary was relatively low at $160,000. The sacrifice in median base salary is considered a strategic move to achieve the larger goal. Investment bankers, Consulting Strategists, and PE or VC Investors took the highest base salary by function at $175,000, followed by investment/portfolio managers at $170,000.
| Wharton MBA Salary by Function | Percent Hired (2021) | Percent Hired (2022) | Median Base Salary (2021) | Median Base Salary (2022) |
|---|---|---|---|---|
| Investment Banking | 11.1% | 11.2% | $150,000 | $175,000 |
| Investment Management/Portfolio Management | 6.4% | 6.7% | $150,000 | $170,000 |
| Consulting/Strategy | 34.1% | 32.3% | $ 165,000 | $175,000 |
| Private Equity/Venture Capital | 12.2% | 16.1% | $ 170,000 | $175,000 |
| Product Management | 7.8% | 7.7% | $ 144,000 | $160,000 |
| General/Project Management/ Management Development | 6% | 5.7% | $ 138,000 | $160,000 |
Related: F1GMAT's Wharton MBA Essay Guide (Samples Included)
Wharton MBA Salary by Locations (2022)
Wharton had the highest US placement rate (95.2%) but relatively fewer overseas placements (4.8%) when compared to Harvard and Stanford, as is frequently the case. However, with a 9% hiring rate overseas, Harvard offers a fantastic chance for those who want to work abroad. The percentage of Wharton MBA hires from abroad decreased by 3%. 43.1% of Wharton MBAs chose the Northeast as their preferred destination, which reflects the concentration of financial powerhouses in the area.
Due to its proximity to Silicon Valley, 24.5% of candidates decided to settle in the West. Compared to the West, the Northeast offered a salary of $175,000, which was $5,000 higher than the East Coast. By region, the Midwest offered the highest wage of $175,500. This year, the South area had a noticeable increase in hiring of 3%, bringing the overall hiring rate to 6.2%.
Internationally, 2.8% of Wharton MBA graduates accepted positions in Asia for a median base salary of $18,787 more than their European counterparts, who received 1% more.
Wharton MBA Top Employers (2022)
Wharton does not list their top jobs in order of preference. There were firms like Accenture, Strategy&, and MBB. Along with Credit Suisse, Deutsche Bank, and Goldman Sachs, private equity firms, including Blackstone Group, Lazard, and Houlihan Lokey, were among the top employees in the financial services industry. The leading tech firms were Google, Amazon, Apple, LinkedIn, Adobe, and LinkedIn.
Top talent was lured away from finance, consulting, and technology organizations by Activision Blizzard from the gaming, PepsiCo from the consumer goods, and Pfizer from the pharma industries.
Wharton MBA Career Service Team - Effectiveness (2022)
Wharton has not disclosed the source of the job offers in their employment report, but 74.3% of the entire class accepted job offers within 3 months of graduation. The only significant and encouraging factor for the 3% decrease in job seekers is the rise in MBA candidates launching their own businesses. 10% of the class had employer sponsorship, and they opted to return to these organizations. This year's figures were 6% lower than last year's.
Wharton MBA Entrepreneurship (2022)
The second most frequent reasons for not looking for work were self-employment and creating one's own business. 7% of all students started their own businesses. Compared to placement records from the previous year, three times as many students are beginning their own businesses now. The distribution by industry, however, has yet to be made public.
Related Download
F1GMAT's Wharton MBA Essay Guide
References