For the third straight year, 99% or more of Michigan Ross undergraduate business majors received job offers four months after graduation. Courtesy photo
If the true value of a business degree is the ability of its graduates to put that degree to work, then prospective business students should consider adding University of Michigan Ross School of Business to their lists of target schools.
Continuing a three-year streak, 99.3% of 2024 Ross graduates received a job offer by September 30, 2024, or within about four months of graduation. Just as impressive, they earned a median salary of more than $100,000 and 82% reported getting a signing bonus of $10,000, according to Ross’ Class of 2024 employment report for its Bachelor Of Business Administration program.
Ross has long delivered strong career numbers for its graduates. The school ranked third in Career Outcomes out of 91 schools in Poets&Quants’ 2024 ranking of the Best Undergraduate Business Programs in the U.S. According to school data submitted to that ranking, 99.1% of Class of 2023 Ross graduates accepted jobs within three months of graduation with an average salary of $94,341. (Look for our 2025 undergraduate business ranking in mid-March.)
Ross released its Class of 2024 BBA employment report on Monday (January 27). Of job seeking candidates, 90.6% had job offers by their graduation dates and 89.1% had accepted an offer by graduation. In addition, 100% of international students were offered and accepted positions by graduation.
“We are proud to see Michigan Ross BBA graduates continuously recognized as strong candidates by the world’s top employers,” says Heather Byrne, managing director of the Career Development Office, in the report. “The employment data results underscore the quality of graduates, the value of a Michigan Ross degree, the effectiveness of our career services, and our commitment to preparing impactful leaders.”
WHERE ROSS GRADS WENT TO WORK
The majority of 2024 graduates (43.8%) went to work in financial services followed by consulting (23%) and technology (7.3%). Another 9.2% went to work in consumer packaged goods and media/entertainment, as you can see in the table below.
Top Industries |
|
Industry |
% 2024 Grads |
| Financial Services | 43.80% |
| Consulting | 23.00% |
| Technology | 7.30% |
| Consumer Packaged Goods | 4.60% |
| Media/Entertainment/Sports | 4.60% |
| Accounting | 3.80% |
| Other | 3.50% |
| Real Estate | 2.90% |
| Healthcare | 2.20% |
| Retail | 2.20% |
| Manufacturing | 2.00% |
The top employers for the Class of 2024 grads included several big brand companies including Bank of America, JP Morgan Chase & Co., and Boston Consulting Group.
PwC Strategy& – the global strategy consulting team at PwC – hired the most Ross grads at 20 full-time positions. It also provided 20 internships to Ross juniors and seniors.
Ross’ top 10 employers for 2024 are shown in the table below.
Top Employers |
||
Employer |
Full-Time |
Intern |
| PwC Strategy& | 20 | 20 |
| EY Parthenon | 15 | 12 |
| Capital One | 12 | 4 |
| Bank of America | 11 | 9 |
| JP Morgan Chase & Co. | 10 | 16 |
| Citi | 10 | 12 |
| KPMG Strategy | 9 | 0 |
| Deloitte | 8 | 16 |
| Boston Consulting Group | 8 | 7 |
| Wayfair | 7 | 2 |
Further, Class of 2025 BBAs interned at more than 450 companies – a key jump start for full-time employment for many job seekers. Internship industries largely mirrored those for full-time employment offers with financial services, consulting, and technology having the highest percentages – 44.2%, 16.1%, and 7.4% respectively.
INFORMATION TECH GRADS TO MAKE $143,000
The highest paid graduates by function are those working in information tech. While they account for just 2.4% of grads, they accepted offers making a median base salary of $143,000 and median signing bonus of $24,000.
Those working in finance have a median base salary of $110,000 with a $10,000 bonus.
The table below shows the salary and bonus data of the major job functions reported by Class of 2024 grads.
Highest Salaries By Job Function |
|||||
Function |
% 2024 Grads |
Base Salary Average |
Base Salary Median |
Base Salary Range |
Median Signing Bonus |
| Information Technology | 2.40% | $134,800 | $143,000 | $85,000-$158,000 | $24,000 |
| Finance | 45.60% | $102,330 | $110,000 | $50,000-$175,000 | $10,000 |
| Investment Banking | 25.40% | $109,966 | $110,000 | $70,000-$136,344 | $10,000 |
| Sales & Trading | 1.80% | $110,250 | $110,000 | $52,000-$175,000 | $10,000 |
| Management Consulting | 12.60% | $98,741 | $100,000 | $70,000-$115,000 | $5,000 |
| Private Equity/Venture Capital | 5.50% | $101,739 | $100,000 | $75,000-$165,000 | $10,000 |
| Total/Average | 100.00% | $94,418 | $100,000 | $29,900 – $175,000 | $10,000 |
| Brand/Product Management | 3.50% | $99,268 | $97,250 | $70,000-$150,000 | $12,000 |
| Business/Data Analytics | 3.10% | $90,575 | $96,000 | $64,000-$110,200 | $15,000 |
| Consulting | 23.00% | $94,376 | $95,000 | $65,000-$115,000 | $5,000 |
| General Consulting | 8.80% | $90,536 | $93,750 | $65,000-$112,000 | $5,000 |
| Asset Management | 4.60% | $86,778 | $90,000 | $50,000-$125,000 | $10,000 |
| General Finance | 4.00% | $86,500 | $87,500 | $51,000-$120,000 | $5,000 |
| Other | 1.10% | $76,000 | $81,000 | $52,000-$90,000 | $10,000 |
| Accounting | 2.70% | $75,958 | $80,000 | $41,500-$90,000 | $7,000 |
| Technology Consulting | 1.50% | $81,429 | $80,000 | $75,000-$93,000 | $2,000 |
| Corporate Finance | 4.20% | $79,428 | $75,000 | $65,000-$118,000 | $7,500 |
| Operations/Logistics | 3.50% | $75,038 | $74,500 | $56,000-$125,000 | $5,000 |
| Business Development | 1.10% | $69,079 | $71,950 | $38,418-$94,000 | $5,500 |
| General Management | 4.00% | $77,608 | $70,000 | $29,900-$115,000 | $5,500 |
| Marketing/Sales | 13.50% | $76,515 | $70,000 | $33,280-$150,000 | $7,000 |
| General Marketing | 6.00% | $66,698 | $68,000 | $50,000-$85,000 | $5,000 |
| Sales | 4.00% | $64,031 | $65,000 | $33,280-$90,000 | $7,000 |
A BUSINESS SCHOOL TO WATCH
Last winter, Poets&Quants selected Michigan Ross as one of our 10 Business Schools to Watch for 2024 as it celebrated its 100th anniversary.
Then, Cathy Shakespeare, Michigan Ross Associate Dean for Undergraduate Education, described the career services programs that gives Ross graduates an advantage in a rapidly changing workforce.
The Michigan Ross Career Development Office(CDO) has an in-house team dedicated to preparing students for the always intimidating and often overwhelming job search. Early classes in the BBA introduce various industries and roles to expose students to the wide range of possibilities early in their education. Ross also provides plenty of networking, interviewing and personal branding opportunities as well as structured lessons to understand the recruiting process.
“There are nearly 70 undergraduate clubs at Ross that can provide additional action-based learning opportunities,” Shakespeare told P&Q. “For example, they can be part of real consulting teams tackling projects for corporate clients or trading equities with independent funds.”
Read the full report here.
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