Class of 2023 Reports Highest Salaries on Record for Georgetown MBA
The Full-time MBA Class of 2023 reported record salaries in their post-graduate roles with an average base salary of $149,256, up from $138,552 last year, and an average signing bonus of $43,325.
According to the 2023 MBA Employment Report, 93.3% of students received a job offer within three months of graduation and 92.5% accepted their offers. The average salary marks a nearly 8% increase from 2022, with bonuses increasing by 19%.
“We are proud of the Class of 2023 for their hard work and dedication in securing impactful roles across a range of industries and sectors,” said Christy Murray, associate dean and managing director of the McDonough Career Center. “This year’s employment outcomes are a testament to our talented students who remained focused on their academic and career-related goals, embraced the job search process, and supported one another throughout the program.”
The top industry for MBAs in 2023 was consulting at 35%, followed closely by financial services at 25%. Technology was the third most popular industry at 18%, while consumer goods and retail (5%), real estate and hospitality (5%), and manufacturing, transportation, and energy (5%) all drew interest from this year’s class. Employers hiring multiple McDonough graduates included American Express, Amazon, Bain, Boston Consulting Group, Deloitte, EY, IBM, JPMorgan Chase, McKinsey, Microsoft, PwC, and Wells Fargo, among others.
The diversity of career opportunities also reflects the diverse cohort of students enrolled in the class of 2023. The graduating cohort of students represents 32% women, 20% underrepresented minorities, and 37% international students across 37 countries.
80% of job acceptances were facilitated by Georgetown’s McDonough Career Center and 59% of Full-time MBA acceptances were converted from prior internships, up from 43% last year.
Among the Class of 2024, 99% of students seeking internships secured one, with an average monthly cash compensation of $9,803. A total of 81% of internships were facilitated by the school.
The McDonough Career Center offers a first-rate team of professionals, student peer advisors, and alumni volunteers to support student and alumni career success. Career preparation is woven throughout the McDonough MBA program with strong collaborations among academics, co-curricular programs, student initiatives, and alumni support. The highly successful ‘One McDonough’ career events continued into their third year. This programming is designed to help students across all of the school’s academic programs develop the skills and strategies needed to be successful in the changing recruiting landscape.
“Through immersive career preparation, networking, and mentorship experiences, students have the opportunity to tailor their MBA experience to their personal goals,” said Kerry Kidwell-Slak, director of career curricula and communications. “From our comprehensive career curriculum to Career Days to their global consulting projects, MBAs are equipped with the skills, experience, and guidance necessary to make an immediate impact in their chosen career path. Employers often tell us that these experiences are a key differentiator for McDonough students in terms of their career readiness and professionalism in their post-graduate roles.”
Tapping into a strong network of nearly 30,000 McDonough alumni, MBA students also had the opportunity to leverage the MBA Mentor Program to navigate academic, career, and personal challenges and discuss career growth strategies with alumni from the extended Georgetown community. This year, the program paired 154 Full-time MBA students with alumni.
In the spirit of Georgetown, hundreds of alumni from all over the world mobilized for the annual spring “Hoyas Helping Hoyas” campaign to support student success. Alumni posted jobs, offered networking opportunities, shared industry insights, and made themselves available in a broad capacity to help McDonough MBA students reach their career goals.
“The McDonough community is integral to the MBA experience, and this is particularly true as it relates to career support,” said Murray. “We are grateful to our dedicated alumni, our passionate career coaches and advisors, our faculty and staff, and our wonderful students who never fail to support and care for one another through each phase of the MBA journey.”
Georgetown offers unparalleled opportunities for students to leverage experiential learning opportunities and community events. The Executive Challenge welcomed over 100 alumni to the Hariri Building to serve as judges in the annual leadership communication case competition that is required of all full-time MBAs. Students traveled across the world to work with multinational firms for their required, signature Global Business Experience course. They also have the opportunity to deepen their understanding of specific issues through a selection of certificate programs in Consumer Analytics and Insights, Global Real Estate, Nonmarket Strategy, and Sustainable Business.
“Reflecting on my journey, I’m amazed by how much I’ve learned and grown,” said Ansley Hood (MBA’24), senior associate at PwC. “The synergy between the curriculum, extracurricular activities, and internships has been truly transformative, and I now feel like a completely different person compared to when I first started the program.”
Read the 2023 MBA Employment Report.