Carnegie Mellon University
December 08, 2021

2021 MBA Employment Report Highlights Strongest Employment Outcomes in a Decade

Despite the challenges of the COVID-19 pandemic, the Tepper MBA Class of 2021 reported the strongest employment outcomes by a Tepper MBA graduating class in over a decade and maintained the 10% salary increase that was achieved in 2020.

The Tepper School of Business at Carnegie Mellon University released the Class of 2021 Full-Time MBA employment report [pdf] detailing employment outcomes for the 2021 graduating class, including information about industry, function, geography, and compensation.

The report details the success and perseverance of the class and cites that within three months of graduation, nearly 96% of the graduates received an offer of employment, and 95% accepted an offer. The Masters Career Center (MCC) — ranked No. 8 in student and alumni career services by The Economist and Financial Times — reports that the consulting sector maintained the top industry for graduates with 34% of the class joining consulting firms, followed by the technology sector with 28%, and the biotechnology/health/pharmaceutical industries with 9.7%.

In addition to enjoying the highest Tepper MBA graduate employment rates in ten years, the 2021 Full-Time MBA class also maintained the 10% increase in median salary recorded in the 2020 report, which is right around $135,000.

“I continue to be impressed and inspired by the dedication and perseverance of our students and their support systems here at the Tepper School,” said Isabelle Bajeux-Besnainou, Dean of the Tepper School. “I could not be more proud of the successful employment and career outcomes that we have seen for our Full-Time MBA graduates. Together, we are building the future of industries, and this report demonstrates the impact of their work.”

Virtual Recruiting Opens New Opportunities

While Stephen Rakas, executive director of the MCC, eagerly anticipates the day that the center will be able to host in-person recruiting once again, he focuses on the silver lining of the virtual recruitment format.

“Although we are looking forward to resuming our in-person recruitment in the future, in a way, the virtual setting has increased our students’ options by expanding the number of companies that they are able to meet and interview with,” explains Rakas. “The virtual format has broken down some potential barriers because of distance or location.”

Thanks to a generous alumni gift from the Class of 1975, the MCC upgraded its interview suite with the latest virtual technology to ensure a seamless process for students and employers.

“As we all continue to face the challenges of the pandemic, we remain grateful for the commitment and trust of our networks, including so many recruiters who continue to employ our talented students, and our alumni who take the time to guide and support them,” says Rakas.

MBA student, Alfred Cerrone shares Rakas’s gratitude for Tepper’s networks.

Cerrone, who was a summer associate at Bain & Company and will return in a consultant role upon graduation, had the opportunity to form relationships with Tepper alumni through the MCC.

“During the networking process, I connected with alumni from multiple firms to hear about their professional experiences since graduating,” says Cerrone. “It was amazing to see just how eager they were to help the future generations of Tepper students.”

Building a Foundation for the Future

The employment report summary is a testament to the successful outcomes of Tepper’s MBA program and the in-depth learning that takes place in its classrooms, virtually as well as in person.

“The curriculum at Tepper gave me a more holistic view and appreciation of everything that businesses must consider to be successful – finance, marketing, operations, and culture among them,” says Cerrone. “More importantly, coming to Tepper allowed me to grow my network and meet extraordinary people of diverse backgrounds – something I believe will be critical to my future success.”

Marlo Abramowitz, a product manager at Tableau Software also feels that Tepper prepared her for her success, especially as someone who was looking to make a change in her career.

“Tepper gave me the confidence to pivot careers,” says Abramowitz. “I was able to learn more about business and leadership and apply it along with my past experiences to be successful in a completely new role and industry.”

Industry and Guidance

“What appealed to me about finance was that it is the foundation for many things,” says Lawrence LaPorta who has accepted a full-time associate offer at Jefferies Financial Group. “Prior to business school, my financial foundation was limited to my sales experience, as I was in Pre-Med in undergrad. I knew that a career in finance would provide me with foundational skills and knowledge to pursue a variety of opportunities.”

LaPorta credits the real-world education that he received during his time at Tepper for providing the information and experience that he needed to go into investment banking.

“One course that was very helpful to me and was one of my favorites at Tepper was Corporate Restructuring, with Robert Dammon,” says LaPorta. “The course walked through all the valuation methodologies and challenged us to think critically about each specific scenario. It was a tough class, but with a great team and professor it was very enjoyable.”

For a comprehensive breakdown of full-time and internship statistics, see the 2021 MBA Summary Employment Report [pdf].