Like this page
Duke MBA Employment Statistics 2010-11: August 15 Update
September 13, 2011
by Sheryle Dirks, Associate Dean for Career Management
I am pleased to share the updated 2010-2011 employment report about Daytime MBA students in the Classes of 2011 (graduates) and 2012 (interns) who have reported job offers by the three month post-graduation date of August 15.
I encourage you to review the full report, but I have also highlighted some notable changes and trends below. We will update these statistics again after September 30, which is the end of the data gathering period when the 2010-11 report will become final.
About our employers
- Fuqua has a new top employer this year. After Johnson & Johnson's many years at number one, Deloitte hired 33 graduates and 25 interns for a total of 58 hires. As recently as 2007-2008, Deloitte hired a total of only 16 Duke MBAs, so their increased presence and success is both notable and important.
- This year's top ten employers are not only an impressive group but they also hired a LOT of Duke MBAs - 224 to be exact! Joining Deloitte are McKinsey, Boston Consulting Group, Johnson & Johnson, Apple, Bank of America Merrill Lynch, Bain & Company, Goldman Sachs, Samsung, and Accenture. From 2007-2010, the mean number of graduates and interns hired by the top ten employers was 163, so this represents an increase of 37% signifying an increase in relative "market share" at the world's premier MBA employers.
- Forty-eight employers hired four or more Duke MBAs in 2010-2011 across the following industries: financial services (12 companies), consulting (8), health care (8), technology (8), consumer products (5), diversified products and services (4), retail (2), and entertainment (1).
About our MBA students
- Students reporting offers - at graduation and at three months post-graduation - increased over each of the past two years. The table below shows an 18% improvement (relative, not absolute) in offers received by graduation and 10% improvement in offers at three months out, when compared to the prior year.
Received 1st offer by graduation
Received 1st offer by 3 months post-graduation
2010 - 2011 84% 91% 2009 - 2010 71% 82% 2008 - 2009 73% 79%
- Compensation is also on the rise this year. The mean 2011 full-time annual salary is $108,488 (up 6.3%) with mean signing bonus at $26,489 (up 18.2%). The percentage of graduates reporting signing bonuses increased this year, too, up to 82% from 71%.
- Monthly intern salaries grew 16% to $7,067 with 19% of the intern-accepting Class of 2012 reporting a mean signing bonus of $3,424. In last year's intern class, 8% of the class reported received a signing bonus as part of an internship so that one-year increase is also substantial.
- As you can see from our top employers' list, consulting has increased its Fuqua footprint this year. In the graduating class, 31% of the Class of 2011 accepted positions in the consulting industry, up 11 percentage points from the prior year. The consulting industry captured 22% of the intern Class of 2012 representing a jump of nine percentage points over the 13% of consulting interns in 2009 - 2010.
- The mean and median salaries for both classes benefit from this trend, as consulting salaries tend to be the highest among those industries hiring massive numbers of MBAs.
- Full-time acceptances across the finance functions dropped slightly, representing 22% of 2011 graduates and 23% of 2010 grads. The marketing function drew 20% of this year's graduates, down nine percentage points from 29% last year, and general management is up 4 points to 17% from 13%.
- In the Class of 2012 intern class, the functional mix is slightly different so it remains to be seen whether these shifts are part of a larger trend. Internships in marketing functions only decreased by 2 percentage points from last year (29%) to this year (27%), while general management held steady at 11%, and finance increased to 26% in this year's intern class.
- 14% of each class accepted positions outside the United States with the largest percentage (9%) taking positions in Asian countries, including China, Hong Kong, India, Japan, Singapore, South Korea, Taiwan, and Thailand. Latin America experienced a substantial one-year increase among graduates, at 1% for the Class of 2010 up to 4% of graduates this year working in Brazil, Chile, Columbia, Mexico, and Peru.
- While the career process captures a lot of mindshare at Fuqua, some students do not engage in recruiting activities or a job search. Corporate-sponsored students typically represent 4-7% of a class, and this year is no exception, with 27 students (6% of the class) in the graduating Class of 2011 returning to their host employer upon graduation. Ten graduates (2%) and two interns did not seek positions because they are starting their own businesses, and we wish them great success in their entrepreneurial ventures.
A notable postscript
While it's exciting to share this good news with our community, it's important to remember that the job search continues for many of our students. Some who are actively seeking jobs find encouragement in Fuqua's statistics and are confident that they will land in a good place, while others will not be buoyed until they can count themselves among the employed. The school's commitment to our job-seeking graduates remains steadfast through the coming weeks and months until each lands a position, not just any job but one that is right for them.
This message would not be complete without acknowledging how important you are as alumni to the career success of our current students and your fellow alumni. As recruiters, advocates, stewards, mentors, coaches, and counsel, you help to build Fuqua's brand in the global marketplace every day, and we are grateful for your continued commitment and support.
I am happy to hear from you (firstname.lastname@example.org) with any questions or comments you may have.