Our MMS graduates continue to set career records, even in the face of ongoing economic uncertainty. In the Class of 2022 Employment Report, new highs in job acceptances and salary show the previous year’s success was more than just a temporary rebound from tumultuous times. In my role as the Associate Dean for Fuqua’s Career Management Center, I am especially proud of the ingenuity and resilience shown by our students as they found ways to pursue their goals and to forge meaningful connections along the way.
Grads Earned Record-Setting Salaries
Job seekers must consider many factors when assessing a job offer but it’s clear the Class of 2022 found meaningful opportunities. Within six months of graduation, 98% had accepted positions, up one percentage point from 97% in 2021.
Salaries also took an impressive leap as a result of market competition. The median base salary for the Class of 2022 is $85,000—shattering last year’s record-high of $71,000. Many companies increased compensation in 2022 to attract and retain top talent in the post-pandemic job market. Especially in the most popular industries for business school graduates—consulting, financial services, and technology—highly sought-after employers faced competition, not only within their own sector but across industries as well.
Diversity in Industry, Location and Employers
The Class of 2022 landed in wide range of locations, industries and employers. Much like the classes before them, they accepted diverse roles across today’s increasingly dynamic and global business landscape.
Industries: Consulting and finance are still the leading industries, although the tech industry is becoming more popular with our MMS graduates. Jumping 8 percentage points over last year, 20% of the Class of 2022 accepted roles in technology. Other top areas of interest include health care, sports and energy.
Locations: Within the United States, the Northeast continued to lead all locations, with more than one in three graduates accepting positions in the region. We also saw sizable jumps in grads heading to the South and West regions of the U.S. The top destinations by state were New York, California and North Carolina. Outside the U.S., graduates accepted jobs in five countries across Europe and Asia. Because more international students secured U.S. positions, the percentage taking jobs globally was down this year.
Employers: The variety of premier companies hiring from the Class of 2022 reflect the breadth of our students’ interests and the versatility of the knowledge and skills they’ve built in MMS. 117 unique employers hired graduates in 2022, which is up from 93 the previous year. The number of employers hiring more than one graduate doubled in just one year, from six in 2021 to 12 in 2022, and include companies such as Capital One, Deloitte, L’Oreal, Pepsi Co., PwC, and others.
During this time when business models and recruiting processes are being transformed, we appreciate the commitment and innovation of the valued employers who look to Fuqua for future leaders. Our goal is to set up hiring organizations for success, whether they are first-time employers or well-established partners.
I consider myself and our careers team fortunate to work at the dynamic intersection of our talented students and the wide array of organizations that hire them. Amid the whirlwind of disruption and change we all experienced in 2022, I applaud the success of our MMS graduates and employers and look forward to learning of the impact they make together in 2023 and the years ahead.