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Press Release
Contact: Tepper School of Business Students Report Strong 2006 Recruiting Season Increased Demand, Higher Salaries Cited for MBA and MSCF Students
About 83 percent of graduating MBAs had offers in hand — and about 75 percent of those had accepted their first job — at the time of their graduation, said Ken Keeley, executive director of the Tepper School's Career Opportunities Center. Graduates of Tepper's Master of Science in Computational Finance (MSCF) program reported exceptionally high demand for their blend of strong quantitative, computing, statistical and finance skills. All MSCF graduates accepted a job within a month of graduating, up from 71 percent during the same period a year ago. The numbers were nearly as good for internships: 99 percent of first-year students received at least one internship offer for the summer, up from 95 percent last year.
"Across the board, the economy has definitely emerged from the hiring downturn we saw two years ago," Keeley said. "This year's strong recruiting season speaks directly to the value that recruiters place on the analytical skills and interdisciplinary education our students receive here at Tepper."
An increase in the amount of recruiters visiting the Tepper School is another indication of growing demand for graduate business majors. The number of companies interviewing on campus increased by about 31 percent from 2005, and students also traveled to locations such as New York and Silicon Valley, making use of Tepper's existing satellite classrooms there for interviews and information sessions with recruiters.
Top Industries Employing Tepper School of Business Graduates and Graduate Interns in 2006
About the Tepper School of Business: Founded in 1949, the Tepper School of Business at Carnegie Mellon is a pioneer in the field of management science and analytical decision making. The school's notable contributions to the intellectual community include six Nobel laureates and a consistent presence in the top tier of business school rankings. The Wall Street Journal recently ranked the Tepper School as the third-best business school in the United States and the world.
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PITTSBURGH—Both newly minted MBAs and first-year graduate students at Carnegie Mellon University's Tepper School of Business report a strengthening market for jobs and summer internships, with increased offers overall and more offers being made earlier than last year. Salaries for full-time positions and internships are also up compared to 2005, according to student surveys.
Salaries for 2006 MBA graduates also continued to climb. The average salary reported by MBA students who graduated in May was $94,935, nearly seven percent higher than last year. The average starting salary for MSCF grads was $90,118, down slightly from 2005's average of $93,510.