Despite known as a Finance school, Yale SOM (class of 2019) attracted most candidates (37.2%) to the consulting industry with an impressive $145,000 base salary. Only Investment Banking with 10.6% class representation could beat the base and total salary with $150,000 and $200,000 respectively. Another surprising entry to the $200,000 total median salary club is the E-Commerce industry with the highest bonus salary payment of $70,000.
On the lower scale of the compensation were Non-Profit, Real Estate and surprisingly Private Equity/Venture Capital ($110,000). The bonus salary information absent from the tally could be the differentiator for PE as rarely we have seen a Finance sub-sector with less than $30,000 bonus payment. For PE, we suspect a highly correlated performance based bonus that would take the total median salary closer or even higher than $200,000.
Consulting continues to be the most popular job function as well with 44.6% of the class accepting the offer for the class of 2019. Strategy – the most sought-after sub-function within consulting had 11.7% representation with a modest $120,000 base salary and $25,000. Most likely the candidates entering strategy are career switchers willing to take a cut in salary to achieve this transition. Finance/Accounting function also continued on a $125,000 base salary range with the bonus element at $40,000
2017 vs 2019 – Yale SOM MBA Salary Growth
Yale SOM MBA - Salary by Industry (Comparison)
Base Salary: Although Consulting has an impressive $145,000, the industry just had a $5,000 increase in base salary over the past two years.
Investment Banking made a comeback with a $25,000 increment. Except for Non-profit ($15,000 decrease) and Media/Entertainment ($11,000 decrease), all other industries has shown a $5,000 to $25,000 increase in median base salary.
Bonus: The bonus payment has gone down across industries ($4,000 to $7,500). Retail/E-Commerce saw a record $26,750 increase. Diversified Financial Services ($4,250 increase), and Consumer Packaged Goods ($20,000 increase) were the only exceptions.
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Yale SOM MBA - Salary by Function (Comparison)
Base Salary: With double digit growth of E-Commerce and delivery services, the need for MBAs in managing supply chain, operations and logistics has improved as well. So has the median base salary that increased by a whopping $38,740 for those entering the operations and logistics function, which has a median base salary of $138,740, catching on to the Consulting function.
Finance/Accounting function is the only stagnant function that remained at $125,000 base salary over the past years.
For all other function, there has been a $5,000 to $15,000 increase in median base salary.
Bonus: The decrease in bonus payment is similar across functions too with the amount varying by $4,000 to $10,000 with the only exception shown by Internal Consulting/Strategy function that registered a $2,000 increase.
