According to Fortune Education, preliminary MBA employment outcome reports for the class of 2022 show that MBA graduates’ salaries “are surging.”
New York University (Stern) announced earlier this week that median base salaries increased to $170,000, up $15,000 from last year. Average total compensation for 2022 graduates, including signing bonuses (median $35,000), averaged $196,143. This is an 8 percent uptick from 2021. Similarly, University of Virginia (Darden) reported last month that 2022 graduates obtained a record-breaking median base salary of $175,000, an increase of 21 percent from 2021. And, at Vanderbilt University, Owen graduates garnered a median base salary of $135,000, an all-time high, coupled with a median signing bonus of $30,000, which equated to a 12 percent increase from 2021.
Representatives from MBA Career Management offices noted that 2022 graduates reaped the benefits of a tight and competitive labor market. “The fiercest competition in the labor market is for ‘top talent,’ and consulting firms are competing for this top talent not just between themselves, but also more broadly versus Silicon Valley, Wall Street, and traditional corporate America,” said Namaan Mian, Chief Operating Officer of Management Consulted, when interviewed previously by Fortune Education.