Wharton MBA Employment Analysis (2023)
Wharton and Harvard are in a tie with a median base salary of $175,000 per annum, whereas Stanford is at the top of the podium with a median base salary of $182,500. Although all three have Finance as their dominant industry, Stanford (39%), followed by Wharton (37.3%), leads the industry representation, with Harvard (33%) in third position.
In the case of compensation, Stanford beats both Harvard and Wharton by $35,000.
Financial Services, with a 37.3% hiring rate, led the 2023 Wharton placements, followed by Consulting, with a 28.8% hiring rate, while the latter had the highest median base salary of $190,000.
Investment Banking (14.2%) and Private Equity/Buyouts/Other (14%), under Financial Services, found the most representation.
Wharton post-MBA Salary – By Industry (2023)
Consulting, a favored choice in the Wharton MBA Employment Report for 2023, saw 28.80% placements with a median salary of $190,000 and a median sign-on bonus of $30,000. Financial Services led with 37.30% placements at a $175,000 median salary and the second-highest median sign-on bonus of $40,000. Technology attracted 13.50%, offering a median base salary of $162,750 and a median sign-on bonus of $30,000.
Healthcare, a growing interest, had 5.40% placements with a $157,500 median salary. Investment Banking/Brokerage and Private Equity/Buyouts/Other each secured 14.20% and 14% placements, with median salaries of $175,000 and $189,322, respectively. Investment Banking offers the highest median sign bonus of $50,000 whereas Investment Management follows with a $40,000 bonus. Investment Management, with 3.8% placements, offered a median salary of $177,500.
Notably, consulting-led in salary, financial services dominated placements, and private equity exhibited the highest median salary.
| Wharton MBA Salary by Industry | Percent Hired (2023) | Median Base Salary (2023) | Median Sign-On Bonus |
| Consulting | 28.8% | $190,000 | $30,000 |
| Financial Services | 37.3% | $175,000 | $40,000 |
| Technology | 13.5% | $162,750 | $30,000 |
| Healthcare | 5.4% | $157,500 | $22,500 |
| Investment Banking/Brokerage | 14.2% | $175,000 | $50,000 |
| Private Equity/Buyouts/Other | 14% | $189,322 | $25,000 |
Related: Wharton post-MBA Salary – By Industry: 2021 VS 2022 VS 2023 (F1GMAT Premium)
Wharton post-MBA Salary – By Function (2023)
Consulting/Strategy emerges as the top function with 36% placements, featuring the highest median base salary of $190,000 and median sign-on bonus of $30,000. Private Equity/Venture Capital function attracted 18.10% of graduates, offering a competitive median base salary of $185,000.
Investment Banking secures a significant share with 12.60% placements, boasting a median base salary of $175,000 and the highest $50,000 median-sign on bonus.
Notably, Investment Management/Portfolio Management and Product Management roles also contribute to the varied professional landscape at 4.70% and 8.70%, respectively, each offering median base salaries of $175,000 and $160,000.
Product Management and General Management functions are in the lower rung of the compensation scale.
2023 year has been the year of Finance and Consulting for Wharton and other M7 schools.
| Wharton MBA Salary by Function | Percent Hired (2023) | Median Base Salary (2023) | Median Sign-On Bonus |
| Consulting/Strategy | 36% | $190,000 | $30,000 |
| Investment Banking | 12.6% | $175,000 | $50,000 |
| Private Equity/Venture Capital- Investor | 18.1% | $185,000 | $25,000 |
| Product Management | 8.7% | $160,000 | NA |
| Investment Mgmt/Portfolio Mgmt | 4.7% | $175,000 | $40,000 |
| General/Project Mgmt/Mgmt Development | 4.1% | $160,000 | NA |
Related: Wharton post-MBA Salary – By Function: 2021 VS 2022 VS 2023 (F1GMAT Premium)
Wharton post-MBA Salary - By Location (2023)
Wharton MBA graduates in 2023 navigated diverse functions, with the United States being the primary hub, securing 91% of placements at a median base salary of $175,000.
The top-paying regions included the Mid-Atlantic with 8.70% placements at $185,000 and the Midwest with 3.80% at $190,000.
Notably, the Northeast dominated with 48.30% of placements, mirroring the national median base salary of $175,000.
The West held a substantial 20.50% of placements, also aligning with the median base salary of the class.
Internationally, Asia emerged as a significant destination with 4.60% of placements, though Europe, with 2.10%, offered a slightly lower median base salary of $141,498.
Wharton MBA International Placements (2023)
In 2023, Harvard MBA's international placements have surged to 11%, surpassing the previous year's 9%.
Asia and Europe remain prominent choices, with Asia offering a median base salary of $121,000 and Europe at $145,500 – not even close to the median base salary of $175,000 in the US; an indication that the placements were not by choice but from limited opportunities in the US.
The MBA market has finally witnessed a recession after the financial meltdown of 2008-09.
Top Industries in Asia include Consulting, Technology, PE, and VC, whereas Europe has placements for Technology and Manufacturing industries.
| Wharton MBA Salary by Location | Percent Hired (2023) | Median Base Salary (2023) |
| United States | 91% | $175,000 |
| Mid-Atlantic | 8.7% | $185,000 |
| Midwest | 3.8% | $190,000 |
| Northeast | 48.3% | $175,000 |
| South | 5.2% | $175,000 |
| Southwest | 4.6% | $190,000 |
| West | 20.5% | $175,000 |
| International | 9% | $150,000 |
| Asia | 4.6% | $150,000 |
| Europe | 2.1% | $141,498 |
Related: Wharton post-MBA Placements – By Location: 2021 VS 2022 VS 2023 (F1GMAT Premium)
Related Download
Related Service
F1GMAT's Wharton MBA Essay Editing Service
Reference