Full-Time MBA Employment Report 2020–21
Full-Time MBA Employment Report
The University of Virginia Darden School of Business Career Center is pleased to present the Full-Time MBA Class of 2020 Employment Report and Class of 2021 Internships Report. Data associated with the full-time MBA Class of 2020 conforms to the MBA Career Services & Employer Alliance Standards for Reporting MBA Employment Statistics. Graduation date for the full-time MBA class was 16 May 2020. This report is based upon useable salary information from 94.8% of the graduates who accepted a job by three months after graduation. Members of the Class of 2020 saw their start dates pushed into late 2020 and some even lost their full-time offers due to the coronavirus pandemic. Many showed resilience and landed new opportunities in which they are leveraging their Darden experience. More than 40 Class of 2020 graduates took advantage of the Darden Impact Internships to bridge the gap between Final Exercises and delayed starts to their full-time work. The Class of 2021 also experienced a challenging internship cycle. Offers were rescinded and shortened, but students showed resilience by finding new opportunities — nonprofits seeking MBA talent, startups looking for MBA consulting, or multiple, short corporate internships. At the end of the summer, all members of the Class of 2021 had a summer internship that provided a valuable career development experience. If you have questions regarding this report, please contact Jeff McNish, assistant dean of career development, at McNishJ@darden.virginia.edu or +1-434-297-7971.
02
CLASS OF 2020
Meet Darden’s Career-Driven Class of 2020 Full-Time MBA Program Class Profile Work Authorization Categories
Seeking employment
Permanent Work Authorization
Non-Permanent Work Authorization
Total Full-Time MBA Graduates
240
76
316
Company-sponsored; already employed
3
2
5
Continuing education
0
1
1
Postponing job search
0
0
0
Starting a new business
4
1
5
Not seeking for other reasons
8
1
9
Total not seeking employment
15
5
20
No recent information available
1
1
2
Total graduates
256
82
338
Not seeking employment
UVA DARDEN SCHOOL OF BUSINESS
Employment Report 2020-21
03
CLASS OF 2020
Darden Graduate Talent in High Demand Timing of First Job Offers First Offer by Graduation
First Offer After Graduation and by Three Months After Graduation
Permanent work authorization
87%
93%
Non-Permanent work authorization
88%
91%
Total graduates seeking employment
87%
93%
87% of the class received a first offer by graduation
93%
of the class received a first offer by three months after graduation
UVA DARDEN SCHOOL OF BUSINESS
91%
of students with non-permanent work authorization in the class received a first offer by three months after graduation
93%
of students with permanent work authorization in the class received a first offer by three months after graduation
Employment Report 2020-21
04
CLASS OF 2020
Darden Students: Motivated to Make Career Choices Timing of Acceptances First Offer Accepted by Graduation
Accepted Job After Graduation and by Three Months After Graduation
Permanent work authorization
85%
92%
Non-Permanent work authorization
82%
88%
Total graduates seeking employment
84%
91%
84%
91%
of the class accepted an offer by graduation
of the class accepted an offer by three months after graduation
UVA DARDEN SCHOOL OF BUSINESS
82%
of students with non-permanent work authorization in the class accepted an offer by graduation
88%
of students with non-permanent work authorization in the class accepted an offer by three months after graduation
Employment Report 2020-21
05
CLASS OF 2020
Darden Talent Earns Record Starting Salaries Starting Salaries # Reporting Base Salary
% Reporting Base Salary1
Mean
Median
Low
High
Permanent work authorization
209
94.6%
$142,412
$150,000
$50,000
$190,000
Non-Permanent work authorization
64
95.5%
$131,887
$130,000
$60,000
$170,000
Total reporting base salary
273
94.8%
$139,945
$143,000
$50,000
$190,000
1. Divides number of students reporting base salary by the number of students reporting accepting a position Note: Darden uses the 12Twenty system to ensure consistent and timely currency conversion
Bonuses for Nearly Every Darden Student Starting Bonuses # Reporting Signing Bonus
% Reporting Signing Bonus2
Mean
Median
Low
High
Permanent work authorization
182
87.1%
$33,647
$30,000
$3,000
$107,500
Non-Permanent work authorization
58
90.6%
$32,067
$30,000
$7,410
$80,000
Total reporting starting bonus
240
87.9%
$33,266
$30,000
$3,000
$107,500
2. Divides number of students reporting useable signing/starting bonus information by the number of students providing base salary information Note: Darden uses the 12Twenty system to ensure consistent and timely currency conversion
UVA DARDEN SCHOOL OF BUSINESS
Employment Report 2020-21
06
CLASS OF 2020
Employment Trends 2020 Offers and Acceptances in Line with 5-Year Trend
Received Offer
Accepted Offer 97%
93%
93% 90%
2016
Another Year of RecordBreaking Salaries
94%
96% 93%
92% 90%
2017
2018
2019
91%
2020
$122,806 $124,684 $127,764 $135,168 $139,945
Averase Base Salar y
2020 2019 2018 2017 2016
UVA DARDEN SCHOOL OF BUSINESS
Employment Report 2020-21
07
CLASS OF 2020
Darden New Grad Salaries Remain Consistent Across Functions and Industries Compensation by Function Function
Graduates Accepting New Employment
Graduates Reporting Salary
NUMBER
NUMBER
PERCENT
Mean Base Salary
Median Base Salary
Low Base Salary
High Base Salary
Consulting
112
39%
106
$155,997
$165,000
$72,070
$170,000
Finance/Accounting
59
20%
57
$138,202
$150,000
$60,000
$160,000
General management
50
17%
47
$121,056
$125,000
$50,000
$165,000
Human resources
4
1%
4
$111,136
$106,500
$88,546
$143,000
Information technology
10
3%
9
$139,100
$140,000
$121,000
$165,000
Legal services
5
2%
3
$164,000
$190,000
$112,000
$190,000
Marketing/Sales
36
13%
35
$125,549
$124,000
$104,004
$160,000
Operations/Logistics
12
4%
12
$126,617
$121,000
$102,000
$182,000
Total reporting
288
100%
273
$139,945
$143,000
$50,000
$190,000
% Grads in Top Hiring Industries
50
Tech Sector
40
41 37
Financial Services
36
34
30
Consulting
32
27
20
20 19 15
14
10
UVA DARDEN SCHOOL OF BUSINESS
24
18
17
0
26
24
2016
2017
2018
2019
2020
Employment Report 2020-21
08
CLASS OF 2020
You’ll Find New Darden Grads Entering Nearly Every Industry Compensation by Industry Industry
Graduates Accepting New Employment
Graduates Reporting Salary
NUMBER
NUMBER
PERCENT
Mean Base Salary
Median Base Salary
Low Base Salary
High Base Salary
Consulting
118
41%
113
$155,661
$165,000
$72,070
$170,000
Consumer packaged goods
8
3%
8
$113,175
$107,500
$105,000
$140,400
Energy
4
1%
4
$126,000
$112,500
$97,000
$182,000
Financial services
55
19%
54
$139,620
$150,000
$60,000
$160,000
Health care (including products and services)
7
2%
5
$98,000
$120,000
$50,000
$130,000
Legal services
5
2%
3
$164,000
$190,000
$112,000
$190,000
Manufacturing
8
3%
8
$123,677
$125,000
$110,000
$135,000
Media/Entertainment
2
1%
2
I /D
I /D
I /D
I /D
Nonprofit
3
1%
3
$106,667
$95,000
$90,000
$135,000
Real estate
2
1%
2
I /D
I /D
I /D
I /D
Retail
14
5%
14
$122,857
$120,000
$115,000
$140,000
Technology
59
20%
54
$125,997
$130,000
$74,261
$155,000
Transportation/Logistics services
3
1%
3
$107,003
$104,004
$104,004
$113,000
Total reporting
288
100%
273
$139,945
$143,000
$50,000
$190,000
I /D: Fewer than three data points. Individual compensation information is confidential. To protect confidentiality, the Career Center only reports compensation information for data points equal to or greater than three.
58%
of those entering the financial services industry accepted full-time offers in investment banking with an average starting salary of $148,125.
UVA DARDEN SCHOOL OF BUSINESS
Employment Report 2020-21
09
CLASS OF 2020
Grads Take Jobs Across 4 Continents Compensation by World Regions Region
Graduates Accepting New Employment
Graduates Reporting Salary
NUMBER
NUMBER
PERCENT
Mean Base Salary
Median Base Salary
Low Base Salary
High Base Salary
Africa
0
0%
0
I /D
I /D
I /D
I /D
Asia
10
3.5%
8
$113,749
$120,000
$74,261
$150,795
Europe
1
0.3%
1
I /D
I /D
I /D
I /D
Latin America/Caribbean
2
0.7%
2
I /D
I /D
I /D
I /D
North America
275
95.5%
262
$141,243
$150,000
$50,000
$190,000
Oceania
0
0%
0
I /D
I /D
I /D
I /D
Total reporting
288
100%
273
$139,945
$143,000
$50,000
$190,000
I /D: Fewer than three data points
UVA DARDEN SCHOOL OF BUSINESS
Employment Report 2020-21
10
CLASS OF 2020
Transformed in Charlottesville, Ready to Lead Anywhere Compensation by Region: North America Graduates Accepting New Employment
Graduates Reporting Salary
NUMBER
NUMBER
PERCENT
Mean Base Salary
Median Base Salary
Low Base Salary
High Base Salary
Mid-Atlantic
62
23%
57
$140,195
$150,000
$60,000
$190,000
Midwest
13
5%
13
$140,986
$160,000
$50,000
$170,000
Northeast
82
30%
78
$146,627
$150,000
$95,000
$190,000
South
35
13%
34
$139,441
$150,000
$60,000
$170,000
Southwest
42
15%
41
$143,663
$150,000
$97,000
$170,000
West
40
15%
38
$131,301
$130,000
$88,546
$155,000
Total North America
274
100%
262
$140,369
$150,000
$50,000
$190,000
Note: No outcomes reported for Bermuda, Greenland, St. Pier/Miquelon (one outcome reported in Canada). Total North America is equal to 275.
UVA DARDEN SCHOOL OF BUSINESS
Employment Report 2020-21
11
CLASS OF 2020
95%
of graduates took a job in the United States, with opportunities spread across the nation
30%
NORTHEAST $150,000
5%
15%
MIDWEST $160,000
WEST $130,000
23%
MID-ATLANTIC $150,000
15%
13%
SOUTHWEST $150,000
SOUTH $150,000
5%
INTERNATIONAL ASIA: $120,000
% of students region median base salary
UVA DARDEN SCHOOL OF BUSINESS
Employment Report 2020-21
12
CLASS OF 2020
Top 12 Hiring Companies for the Class of 2020
School Plays Key Role in Partnering With Students to Secure Full-Time Careers Primary Sources of Job Acceptances
78.5% School-Facilitated
UVA DARDEN SCHOOL OF BUSINESS
21.5% Graduate-Facilitated
53%
of students in the class received full-time offers as a result of their summer internships
Employment Report 2020-21
Full-Time MBA Class of 2021 Internship Outcomes
14
CLASS OF 2021
Prepping for Leadership Starts in the First Year Monthly Internship Compensation by Function Students Accepting Internships
Function
NUMBER
Mean Base Salary
Median Base Salary
PERCENT
Consulting
84
26%
$10,520
$12,133
Finance/Accounting
94
29%
$9,625
$10,417
General management
69
21%
$7,595
$8,500
Human resources
2
1%
I /D
I /D
Marketing/Sales
53
16%
$7,227
$7,019
Information technology
10
3%
$9,238
$8,750
Operations/Logistics
10
3%
$6,983
$7,492
Other
5
2%
$14,574
$14,567
Total reporting
327
100%
$9,026
$9,000
I/D refers to instances with insufficient data. MBA CSEA Standard guidelines require a minimum of three data points for each category and that the number of data points is equal to or greater than one percent of students.
7
Class of 2021 students participated in the Darden Non-Profit Internship Fund. DNIF is a program that helps First Year students defray summer living expenses while pursuing internships in the nonprofit and social sectors.
UVA DARDEN SCHOOL OF BUSINESS
7
Class of 2021 students participated in a Darden Impact Internship. Darden Impact Internships are full-time, paid internships with Darden’s award-winning faculty and executive staff leadership. This curated collection of projects offered participants the chance to gain valuable work experience and develop additional skills.
Employment Report 2020-21
15
CLASS OF 2021
First Years Gain Real-World Experience Across Industries Monthly Internship Compensation by Industry Industry
Students Accepting Internships
NUMBER
Mean Base Salary
Median Base Salary
PERCENT
Consulting
67
20.5%
$12,246
$13,500
Consumer packaged goods
26
8%
$6,472
$6,760
Energy
4
1.2%
$4,436
$4,160
Financial services
92
28.1%
$9,958
$10,417
Government
1
0.3%
I /D
I /D
Health care (including products and services)
25
7.6%
$7,526
$8,333
Manufacturing
21
6.4%
$8,294
$8,500
Media/Entertainment
3
0.9%
I /D
I /D
Nonprofit
16
4.9%
$2,536
$2,687
Real estate
3
0.9%
$6,806
$7,000
Retail
6
1.8%
$7,207
$7,292
Technology
55
16.8%
$7,741
$8,342
Transportation/Logistics services
2
0.6%
I /D
I /D
Other
6
1.8%
$12,613
$13,333
Total reporting
327
100%
$9,026
$9,000
41 students took part in the Batten Venture Internship Program (BVIP). BVIP allows Darden students to pursue summer internships with startups, venture capital (VC) firms and closely held enterprises. To promote and support student involvement with these firms, the Batten Institute Fund provides a matching stipend to supplement a student’s summer salary.
The following industry value was excluded due to having no data points: Hospitality. Other includes legal services (5) and corporate services (1). I/D refers to instances with insufficient data. MBA Standard guidelines require a minimum of three data points for each category and that the number of data points is equal to or greater than one percent of students.
UVA DARDEN SCHOOL OF BUSINESS
Employment Report 2020-21
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100 Darden Blvd, Charlottesville, VA 22903 USA darden.virginia.edu Career Center CareerDevelopment@darden.virginia.edu +1-434-924-7283
The University of Virginia Darden School of Business Career Center is pleased to present the Full-Time MBA Class of 2020 Employment Report a...
Published on Feb 15, 2021
The University of Virginia Darden School of Business Career Center is pleased to present the Full-Time MBA Class of 2020 Employment Report a...