BY Lake Sydney09 November 2022, 18:00
The Northwestern University Wildcat cheerleaders at a pep rally in Merrion Square, Dublin, as seen in August 2022. (Photo by Brian Lawless—PA Images/Getty Images)
Northwestern University’s Kellogg School of Management recorded career-record results for its full-time MBA graduates this year. The #3 business school, ranked by Fortunesaw its graduates land a median base salary of $165,000, a 10% jump from $150,000 last year.
Graduates also earned median signing bonuses of $30,000, and 99% of Kellogg’s most recent graduates landed jobs within three months of graduation. Continuing the trend at other top business schools, Kellogg’s jobs report illustrates strong demand — and high salaries — for its full-time MBA graduates this year.
“The market really wanted talent, and we had the talent,” said Liza Kirkpatrick, assistant dean of Kellogg’s Career Management Center. Fortune. “Our students have really had to overcome COVID and have shown resilience in the process. The market reacted to this. Our students got the jobs they were looking for.
MBA recruiting for consulting jobs hit an all-time high at Kellogg this year: 40% of graduates accepted jobs in the field, earning a median base salary of $175,000. Not only did these students land high-paying consulting jobs, but they also secured places at the three largest companies in the United States: McKinsey & Co., Bain & Co., and Boston Consulting Group. Nearly 150 students out of approximately 1,000 graduates have landed jobs in these companies, also known as MBB companies.
Why consulting is a popular career path for Kellogg grads
Kellogg’s curriculum has a particular focus on consulting, making it a popular field among MBA graduates. “Our courses prepare students for these roles, including hands-on classes in which students act as consultants on projects for real companies,” Kirkpatrick wrote in his Jobs Report Findings blog post. 2022.
For example, Kellogg’s Analytics Consulting Lab is an experiential learning course that allows students to work on analytics projects for real companies. Last year, ACL students used advanced analytics to help the Chicago Bears develop a better food and beverage pricing strategy, according to Kellogg.
“Not only are you working on real problems, you’re doing them in real time,” Kellogg 2022 graduate Jasmine Truong previously said. Fortune. “It’s great for seeing what today’s businesses are up against while we study the fundamentals in our courses.”
Consultant salaries are also on the rise, and not just at Kellogg. Earlier this year, MBB companies announced salary increases for the coming year. In 2022, the starting base salaries for new MBA graduates at the three companies were $175,000. In 2023 they will jump again. Bain and McKinsey will offer base salaries of $192,000 and BCG will offer $190,000.
“The business world is becoming increasingly complex,” says Kirkpatrick. “Consulting firms are looking for students who can be nimble and combine analytical and technical expertise with that human-centric social intelligence as well.”
Other Kellogg MBA Job Results
Technology and financial services were also popular career paths for Kellogg’s 2022 full-time MBA graduates. More than 20% of the class found jobs in the technology sector, earning a median base salary over $145,000. Some of the top tech recruiters included Amazon, Meta, and Alphabet.
Amazon continues to hire more Kellogg MBA graduates. This year, the e-commerce giant hired 26 Kellogg students, up from 19 the previous year, according to Kellogg’s employment report.
Students who took jobs in finance earned the highest median base salaries at $170,000. The most popular career paths for these graduates were private equity and venture capital, which are known to have high starting salaries.
Despite fears of inflation, silent abandonment, and an ever-changing job market, Kellogg students have shown the power of earning an MBA.
“I hear some students are nervous about the market,” says Kirkpatrick. “But what I’ve experienced since I’ve been at Kellogg, and I started in 2008, is that there’s always a need for great talent. The people who choose to come to Kellogg are hardworking people and they do exceptional work.
Discover all Fortune’s degree program rankings, and learn more about specific career paths.