According to the 2022 Georgetown MBA Employment Report, nearly all graduates are employed within three months, with six-figure salaries. It’s one of the best MBA job placement rates in the world, so how do they do it? We spoke to the school’s Associate Dean to find out the secrets to their success.
A Masters of Business Administration is an expensive degree, so students are right to expect a return on their investment. This is why MBA employment reports are important reading for anyone searching for their dream program.
These reports detail how many graduates of an MBA program find employment, which industries they work in, and how much they earn.
And they don’t get much more impressive than Georgetown McDonough’s 2022 MBA Employment Report. Some of the report’s key findings include:
The average base salary of $138,552 and the average signing bonus of $36,342 marks the highest levels ever achieved by the school’s Full-time MBA graduates. “Up 10% and 6%, respectively, from last year,” explains Christine Murray, who is the Associate Dean & Managing Director of Career Services at the McDonough School of Business. (02:45)
Interestingly, international students came out of the Georgetown MBA with a slightly higher average salary than domestic students. The average salary of international students was $143,939, while the average salary for domestic students was $136,991. “I think that that’s a testament to just the really strong international global students that are coming into this program,” says Christine. (04:48)
Consulting is an enduringly popular industry for MBA graduates. That’s reflected in the 2022 MBA Employment Report, 29% of the program’s graduates ended up in consulting across a variety of large firms.
Beyond consulting, Christine also highlights two other popular industries for the school’s graduates.
“We also see a large number going into financial services, so 25% of our class of 2022 graduates went into financial services. Then technology is always a top interest, and 18% of the class of 2022 went into technology,” she says. (06:04)
The three industries of consulting, financial services, and technology together make up 72% of the industries of Georgetown MBA graduates. But other industries are well-represented in the report as well.
Christine mentions that because of the school’s location in Washington DC and its values, the school sees a “number also pursuing social impact, nonprofit, governmental careers.” (06:24)
The numbers in the MBA Employment Report are among the best in the world. So how has the school achieved these results for its students? Christine says that the school’s access to networking opportunities is a major factor in the impressive job placement rate.
“I think for both the full-time and the internship opportunities, McDonough students have tapped into school resources,” she says. “They network, and this is evident with the 88% of the population securing opportunities that were facilitated by the school and the school’s connections.” (03:26)
Christine also points out a unique feature of the McDonough community, which she believes is another contributing factor to these results. “Second-year MBAs are committed to helping the first-year MBAs,” she explains. “To educate them about their experiences as a first-year MBA student, what their path was getting to that point, and then what they learned over the summer experience.” (14:35)
The support for MBA students doesn’t stop there, however. Students can opt into a formal mentoring program with alumni, which can help students access job opportunities and prepare for interviews. The program was oversubscribed last year – by mentors who wanted to help out.
This is the perfect example of what Christine describes as the “Hoyas helping Hoyas” spirit that runs through Georgetown. It’s the idea that every student wants to help out their fellow Hoyas whenever possible, and it’s something that defines the student experience at Georgetown. (14:07)
Ultimately, the success of an MBA program comes down to a number of factors: location, network, reputation, quality of teaching, and much more.
Perhaps the most important reason for McDonough’s success was summed up by Christine in those three words: “Hoyas helping Hoyas.” That school-wide desire for alumni and students to help and support each other whenever they can.
As long as that spirit continues to run through the school, it’s difficult to see McDonough School of Business’ results slipping anytime soon.
If you’d like to learn more about studying an MBA in the United States, feel free to reach out to one of our MBA ambassadors.
