Carnegie Mellon University
December 18, 2023

Tepper School Graduates Shine Bright in the 2023 MBA Employment Report

Sheila Davis
  • Associate Director, Media Relations
  • 412-268-8652

The latest report on the employment outcomes for the MBA Class of 2023 at Carnegie Mellon University’s Tepper School of Business showed impressive results. Notably, this class achieved a new record average salary of $156,500, surpassing the previous record set by the Class of 2022.

The Tepper School released the Full-Time MBA employment report detailing employment outcomes for the 2023 graduating class, including information about industry, function, geography, and compensation.

The report details the success of the most recent graduating class and cites that within three months of graduation, 94% of graduates received an offer of employment, and 92% accepted an offer. The Masters Career Center (MCC) at the Tepper School — reported that consulting was once again the top industry of choice with 42% of graduates taking jobs in that sector. Jobs in technology followed with 29%, and the financial services industry with 14%.

“The achievements showcased in this annual report affirm that our graduates are shaping the evolving business landscape, and their skills are in high demand – despite a challenging job market. As a school, we take immense pride in contributing to their journey," said Isabelle Bajeux-Besnainou, Dean and Richard P. Simmons Professor of Finance at the Tepper School. 

The Tepper School's commitment to the "Intelligent Future" and its focused instruction in analytics, technology, and leadership empower students to distinguish themselves as formidable business leaders, equipped with the skills necessary to address the global business challenges of their generation. 

Steve Rakas, Executive Director of the MCC, which was recently ranked the #8 MBA career center by the Financial Times, expressed appreciation of his team’s efforts toward supporting student success in recruiting. The MCC connected students with employers and alumni through on-campus and virtual recruiting events and conducted aggressive outreach resulting in new connections with employers of MBA and specialized Masters talent.  

For example, Rakas’ team reintroduced the Tepper Masters Career Fair this fall, attracting more companies back on campus. The MCC also hosted an inaugural virtual event to connect students with MBA leadership development programs that are currently hiring. Other efforts include connecting with employers and alumni daily via on-campus and virtual recruiting events and organizing cross-campus recruiting events and opportunities for both Master of Science in Business Analytics and Master of Science in Product Management students.

Eric Tinnell (MBA 2023), an investment banking associate at Morgan Stanley, noted that the MCC advisors are well-connected with Tepper School alumni. 

“The finance MCC advisors were instrumental in getting me prepared for investment banking interviews,” Tinnell said. “Every interaction I had with them was value-adding, from the initial resume overhaul to mock interviews to practical insight about a career on Wall Street. Without their assistance, my path to an investment banking internship and full-time offer would have been exponentially more difficult.”

Rukayat Muse-Ariyoh (MBA 2023), an associate at McKinsey & Company, said that her interaction with the MCC proved instrumental in shaping her success and a key factor in her successful journey to securing a full-time position. 

“Upon entering business school, the multitude of post-graduate opportunities can be overwhelming,” she said. “The MCC adeptly delves into understanding your interests and goals, offering valuable insights to guide you towards a clearer path for your post-MBA career. The personalized advice I received from MCC advisors during my consulting recruiting journey was particularly impactful. They pinpointed gaps in my resume and interviewing skills, providing practical strategies for improvement.”

Rakas stressed that the dedication and help from Tepper School alumni and recruiting partners was critical in helping students in a challenging economy.

“Without our Tepper School graduates and recruiting partners, our students would have had a more challenging path to securing a job,” Rakas said. “Our alumni stepped up in a big way and we at the MCC want to express our gratitude.” 

For a comprehensive breakdown of full-time and internship statistics, read the 2023 MBA Summary Employment Report.