Reputation, Alumni Network Boost Georgetown MBA Career Success

2020 MBA Employment Report

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When they enrolled at Georgetown University’s McDonough School of Business two years ago, the Full-time MBA class was challenged to exceed expectations — both others’ and their own. They lived up to this promise upon graduation, when even amid a global pandemic and uncertain economy, the Class of 2020 set record salary numbers and exhibited overall career success. 

According to the 2020 MBA Employment Report, 93% of students received a job offer within three months of graduation, and 90% accepted their offers. They also will earn more than any previous class, with an average salary of $128,162 (up from $124,119 last year) and an average signing bonus of $34,707 (up from $30,737).

“It is a testament to Georgetown McDonough’s reputation among employers for having the best-trained, most creative graduates and the strength of the alumni network, which responded in full force to the job market challenges posed by the pandemic, that our Class of 2020 has found success in a very complicated time for business,” said Doreen Amorosa, associate dean and managing director, McDonough Career Services. “Hoyas are known worldwide for their compassionate leadership, innovation, and desire to make a difference. That is exactly what organizations need at this moment in time.”

Consulting (32%) and financial services (24%) remained top industries for McDonough graduates, with technology increasing from 14% to 19% and social impact/nonprofit increasing from 3% to 6%. Real Estate held steady at 6% this year. Top employers include Amazon, American Express, BCG, Citigroup, Credit Suisse, Deloitte, EdOps, EY, Google, IBM, Microsoft, NEXTracker, PwC, Rios Partners, Samsung Securities, The Clorox Company, Wells Fargo Securities, and ZS Associates. Additionally, 81% of job acceptances were facilitated by Georgetown, with only 19% through the graduates themselves. 

Among the Class of 2021, 99% of students seeking internships secured one, with an average monthly cash compensation of $7,894 — a 3% increase from the previous year. A total of 82% of internship placements were facilitated by the school.

To adapt to the challenges posed by the pandemic, McDonough Career Services reached out to the global alumni network for a Hoyas Helping Hoyas campaign, which asked alumni to connect with students around their career needs. More than 200 alumni responded with internship or job postings, as well as mentorship support. Additionally, the school-wide career team created a Virtual Recruiting Summit late in the summer to prepare all McDonough students for recruiting in a technology-enhanced environment. The MBA Career Center also has shifted its operations to a fully virtual recruiting environment, creating opportunities with organizations that typically are not able to recruit on the Georgetown campus.

In recent years, the MBA Career Center has adapted to significant changes to the ways in which companies recruit students, including developing an individualized career strategy at the very start of the program, preparing students for automated screening processes, and shifting the curriculum to better align with interview schedules.

Full-time MBA students begin their program with a job search course the summer before they arrive on campus, ensuring they prepare a strategy and framework to execute on day-one of the program. During this time, the students use a career inventory tool developed by the MBA Career Center to help narrow the focus of their search early in their first year. This year, the career office developed an enhanced career clarification framework to guide students through a process of reflection, exploration, and decision-making. 

Then career advisors 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.

“The Georgetown MBA Career Center has your back from your first day, all the way through your recruiting journey,” said Soren Rose (MBA’21). “It was inspiring to have career and peer advisors that always were ready to offer feedback and guidance on next steps or new ideas as I explored a variety of career opportunities.”

Career preparation is not isolated to the MBA Career Center – it’s woven throughout the program in collaboration with the career team, student peer advisors, and alumni. Even in the pandemic, the school has continued its experiential programs virtually, including the Executive Challenge, global career treks throughout the United States and around the world, and student career days that provide a hands-on, in-depth view of future opportunities. Additionally, faculty-led initiatives like Business for Impact and the Steers Center for Global Real Estate work directly with students to create experiential learning opportunities and networking connections. 

“The successes of our Class of 2020 show the resilience of our students and alumni,” Amorosa said. “Students come to Georgetown McDonough’s MBA looking to advance their careers, but the true ROI is the knowledge, experiences, and network that last a lifetime.”