University of Michigan Ross School of Business commons area
The most recent business graduates of University of Michigan Ross School of Business got paid, and got paid big.
Ross Class of 2023 BBA graduates reported a median base salary of $100,000, 11% more than the median posted by the previous class, according to the school’s undergraduate employment report released this month. Further, 99.1% of reporting, job-seeking students received an offer by September 30 (roughly three months after graduation), and 98.3% accepted an offer.
Ross, in fact, ranked No. 5 out of 91 business schools in Poets&Quants 2024 ranking of the Best Undergraduate Business Schools released early this week. The B-school was buoyed by its impressive Career Outcomes score, the third highest career score in our ranking. We measure Career Outcomes on three metrics: employment rates, total first-year compensation, and rate of students who completed at least one business related internship during their programs.
“We are proud to see that our 2023 graduates leveraged their skills, experiences, and Ross resources to land jobs — with record-setting salaries — in their chosen career paths,” says Heather Byrne, managing director of the Career Development Office at Michigan Ross in this release. “These results demonstrate the power of a Michigan Ross degree to open doors after graduation and to set students up for success.”
WHERE ROSS BUSINESS GRADS WENT TO WORK
First-job destinations included a who’s who in companies many business majors want to work: McKinsey, Microsoft, PwC, Deloitte, Citi, Bain & Co., and Jefferies.
The vast majority (42.9%) accepted positions in financial services, earning an average base salary of $103,702 ($110,000 median). They also secured a median signing bonus of $10,000.
Consulting was the next highest industry with 24.8% of Ross grads joining the field. They also earned the second highest average salary at $96,871 ($100,000 median) and a median bonus of $5,000.
See the full table below.
Most Popular Industries for Class of 2023 |
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| INDUSTRY | % | BASE SALARY MEAN | BASE SALARY MEDIAN | BASE SALARY RANGE |
MEDIAN SIGNING BONUS
|
| Financial Services | 42.90% | $103,702 | $110,000 | $55,000-$135,000 | $10,000 |
| Consulting | 24.80% | $96,871 | $100,000 | $50,000-$126,000 | $5,000 |
| Technology | 9.80% | $92,120 | $90,500 | $50,000-$145,000 | $20,000 |
| Consumer Packaged Goods | 5.00% | $73,727 | $72,000 | $60,000-$90,000 | $5,000 |
| Media/Entertainment/Sports | 3.70% | $63,955 | $60,000 | $45,000-$95,000 | $5,000 |
| Other | 3.70% | $63,097 | $62,000 | $45,000-$85,000 | $5,000 |
| Real Estate | 3.30% | $74,731 | $75,000 | $65,000-$85,000 | $7,500 |
| Accounting | 2.60% | $74,200 | $74,500 | $60,000-$85,000 | $2,000 |
| Retail | 1.50% | $61,500 | $62,000 | $60,000-$62,000 | $9,000 |
| Healthcare | 1.30% | $63,100 | $61,000 | $61,000-$70,000 | $9,000 |
| Manufacturing | 1.30% | $83,663 | $78,325 | $78,000-$100,000 | $4,000 |
| Total/Average | 100.00% | $94,294 | $100,000 | $100,000 – $145,000 | $10,000 |
TOP INTERNSHIPS FOR ROSS BBAs
If it’s true that internships lead to full-time jobs – either through direct offers or enhanced resumes – the upcoming graduates certainly have a leg up. Class of 2024 BBAs interned at almost 400 companies, earning an average base salary of $78,222 (or $6,519 per month.)
Financial services was again the most popular industry with 37.7% of the internships. And it was, again, followed by consulting as the second most popular at 21.4%, as shown in the table below.
Most Popular Industries for Class of 2024 Interns |
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| INDUSTRY | % | MEAN BASE SALARY | MEDIAN BASE SALARY |
BASE SALARY RANGE
|
| Financial Services | 37.70% | $95,181 | $106,033 |
$29,120-$140,000
|
| Consulting | 21.40% | $86,088 | $85,280 |
$31,200-$111,800
|
| Technology | 7.40% | $72,233 | $70,356 |
$37,440-$123,516
|
| Accounting | 6.40% | $69,715 | $67,860 |
$48,000-$89,440
|
| Other | 6.20% | $38,771 | $39,520 |
$12,000-$85,280
|
| Consumer Packaged Goods | 5.40% | $50,753 | $47,840 |
$31,200-$72,800
|
| Media/Entertainment/Sports | 5.20% | $35,335 | $31,200 |
$28,800-$52,000
|
| Real Estate | 3.70% | $44,778 | $42,640 |
$33,280-$65,000
|
| Healthcare | 2.70% | $46,605 | $47,840 |
$41,436-$52,000
|
| Manufacturing | 2.50% | $47,794 | $46,800 |
$35,360-$68,640
|
| Retail | 1.40% | $45,240 | $44,720 |
$37,440-$54,080
|
| Total/Average | 100.00% | $78,222 | $83,600 |
$12,000-$140,000
|
DON’T MISS: POETS&QUANTS’ BEST UNDERGRADUATE BUSINESS SCHOOLS OF 2024 AND ALL THE EMPLOYMENT & INTERNSHIP DATA REPORTED IN OUR 2024 UNDERGRAD B-SCHOOL RANKING
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