Georgetown MBAs Secure Record Salaries After Graduation
With a record average starting salary and increased job acceptances, Georgetown McDonough’s Full-time MBA Class of 2017 continues the school’s trend of career success.
“Every year, we deepen our commitment to applying a personalized approach to our students’ job searches, and every year, the results exceed our expectations,” said Doreen Amorosa, associate dean and managing director of the MBA Career Center.
According to the school’s 2017 MBA Employment Report (new window), the average starting salary for graduates was $112,501 – a 4 percent increase from the previous year. Average signing bonuses were $28,516 – a 13 percent increase from 2016. Job offers accepted within three months of graduation also rose from 90 to 92 percent.
Financial services, consulting, and technology continue to be the top three industries of choice for Georgetown McDonough MBAs, with 33 percent, 28 percent, and 13 percent of placements respectively. New to the fourth spot this year is non-profit/social impact, accounting for 7 percent of job placements.
Among first-year students seeking internships, 99 percent secured one and 85 percent were paid positions. The average monthly compensation for internships was $6,501, and 81 percent of positions were facilitated by the MBA Career Center, up 13 percent from 2016.
As the way companies recruit MBA students continues to change – from earlier interview schedules to more automated screening processes – Georgetown McDonough adapts and evolves so that students are prepared every step of the way.
For example, students complete a job search course the summer before their program even starts, preparing a strategy and framework they are ready to execute on day one of the program. Coaches work with students to create their career deliverables, including their accomplishments record, career inventory, prospectus, and resume.
“This approach takes advantage of a time when the students are able to focus on their career goals. As a result, they are prepared to both articulate them to employers and to begin their classes with a more refined lens through which to consider the course materials,” Amorosa said.
As part of the summer course, the MBA Career Center developed a proprietary career inventory tool to help students narrow the focus of their search early in their first year, and then coaches work with students to create personalized outreach plans for each employer. The school also has implemented McDonough CareerView, a leading-edge recruitment technology solution for employers, students, and the MBA Career Center staff.
“When it came to my job search, the MBA Career Center helped me identify opportunities that were a fit both for me and for the employer,” said Mauricio Gutierrez (MBA’17), who now is a channel partner manager at Google. “Through interview prep, industry advice, and resume reviews, the center prepared me for each stage of the hiring process, and it paid off.”
Career preparation is not isolated to the MBA Career Center – it’s woven throughout the program in collaboration with the career team. For example, McDonough implemented the Executive Challenge, an interactive final exam for all first-year MBA students as part of their Leadership Communications course. Student groups received three cases in the morning and had to role-play them with executive-level alumni judges. At the end of the day, the students benefitted from an experiential learning activity and the ability to network with the school’s most experienced alumni.
Georgetown McDonough’s student-run organizations also have a tradition of organizing career treks to cities around the world. In addition to long-standing treks to New York for finance and marketing, California for technology, and within D.C. for consulting, students recently traveled to Tel Aviv, Mexico City, Shanghai, Tanzania, and Hong Kong to meet with alumni and employers. Student groups also hold career days on campus where they invite alumni and employers to present about specific industries.
“The Georgetown MBA has invested in numerous strategic initiatives in recent years, from curricular offerings like the Executive Challenge, to our customizable search technologies and alumni mentoring tools, all with the goal of supporting our students,” Amorosa said. “I believe our Employment Report is a measure of more than salaries – it’s the proof that the Georgetown MBA prepares our students and alumni to be successful in all stages of their careers.”