Cornell Johnson Graduate School for Management, is one of the top 25 schools in the US that reported salary and bonus growth despite the uncertainty that has gripped hiring across the world due to the pandemic-induced economic slump. This positive news stands out magnificently as 93 per cent of the 2020 class of MBAs has received job offers, which is just 1 per cent less than the last year. Not only this, the base salary grew almost six per cent, which covers the slight dip in the placement results. The bonuses were up modestly, too, climbing up 1.1 per cent this year.
Out of 280 graduates, 259 were seeking jobs. The 90 per cent that accepted the job offers received by them, accounted for a jump of pay, amounting to $138,767, up from $131,150, which is faster than the four per cecnt growth between the years 2018 and 2019. The average total compensation for the class of 2020 MBAs was $172,247 this year, which is 6.5 per cent more than last year and 12.5 per cent more than two years ago.
Demand in the consulting sphere was the highest (34 per cent, up from 28 per cent in 2019), finance was the second most popular (30 per cent, up from 15 per cent last year) and tech the third most significant destination (16 per cent, up from 15 per cent in 2019). Salaries offered in consulting were the highest with an average of average of $154, 608. Those who chose to enter the legal sphere (one per cent of the batch) were offered a base salary of almost $200K.
The batch received a mix of full-time and short-time assignments, with Amazon and Google featuring among the top 15 recruiters. Among the big names in the list of 233 recruiters were Deloitte, Accenture, Bain & Company, McKinsey and Boston Consulting Group.
