Darden Full-Time MBA Employment Report Class of 2023

DARDEN FULL-TIME MBA EMPLOYMENT REPORT Class of 2023 D A R D E N

SCHOOL OF BUSINESS

TA B L E O F C O N T E N T S

01 Letter From Assistant Dean Jeff McNish 02 Meet The Darden Full-Time MBA Class of 2023 04 Employment Report Highlights 06 Class of 2023 Career Outcomes 15 Where We Work 16 Class of 2024 Internship Outcomes

OUR WHY IS YOUR WORK

DEAR DARDEN COMMUNITY Last year, Darden students yet again achieved outstanding career and personal successes. Against an ever-shifting economic backdrop, we could not be prouder of these forward-thinking students who not only achieved excellent career outcomes, but also reached new heights in average compensation. As these numbers show, Darden MBA graduates are highly valued by leading global companies for their determination, drive and talent, which they bring across various industries and functions. This recognition reaffirms our commitment to nurture and inspire leaders who will positively impact the business world.

Highlights Across Darden • Transformational Education: Darden reached No. 3 in the Bloomberg Businessweek rankings, and in 2023 it was ranked as the No. 1 Public MBA for Career Prospects by The Princeton Review, illustrating the impact of the educational experience and world-class career support.

• Record High Average Base Salary: The base salary for the Full-Time MBA Class of 2023 reached a new high, with a mean of $167,899.

• Set up for Success: At three months after graduation, 95.8 percent of students in the Full-Time MBA Class of 2023 had received at least one offer of employment.

• Diverse Employers, Responsible Leaders: 107 unique employer partners hired students from Darden’s Full-Time MBA Class of 2023, showcasing the broad reach of our network of more than 18,000 alumni.

• Robust Employer Engagement: Darden’s Employer Engagement team delivers 500+ recruiting events each year across degree programs, providing numerous opportunities for students to connect with potential employers.

• Top-Tier Companies: Graduates secured positions at prestigious employers, including Amazon, Bank of America, Boston Consulting Group, JPMorgan Chase & Co., McKinsey and Microsoft.

• Effective Career Center Resources: 82.7 percent of the jobs accepted were found using Darden Career Center resources, including alumni connections, hosted networking events, job boards and company visits.

Our goal in the Career Center is to accompany students throughout their personalized MBA career journeys as they prepare for and launch their post-MBA careers. It has been a pleasure to work with these purpose-driven professionals to achieve their optimal career outcomes. I know I speak for the entire team when I say that we are eager to celebrate their new endeavors and witness their everyday triumphs.

Warm regards,

Jeff McNish Assistant Dean, Career Center +1 434-297-7971 McNishJ@darden.virginia.edu

“Darden MBA graduates are highly valued by leading global companies for their determination, drive and talent, which they bring across various industries and functions.”

Meet the Class of 2023

CLASS SIZE

349 40% WOMEN

21%

U.S. MINORITY

15%

FIRST- GENERATION COLLEGE STUDENTS

7%

MILITARY

6%

LGBTQ+

111 International Students

02

41 Countries Represented

26 Industries Represented

Full-Time MBA Program Class Profile Permanent Work Authorization

Non-Permanent Work Authorization

Total Full-Time MBA Graduates

226

105

331

Company-sponsored; already employed

4

5

9

Continuing Education

2

0

2

Postponing Job Search

0

0

0

Starting a new business

3

1

4

Not seeking for other reasons

2

0

2

Total Not Seeking Employment

11

6

17

No Recent Information Available

1

0

1

Total Graduates

238

111

349

Work Authorization Categories Seeking Employment Not Seeking Employment

THE DATA IN THIS REPORT ALIGNS WITH MBA CSEA STANDARDS.

03

Embarking on Purpose-Driven Career Journeys

The Places They Go

24

62

7

U.S. STATES

CITIES

COUNTRIES

Graduates Reported a Record High Average Salary and Signing Bonus Average Signing Bonus

$170K

SALARY

$35,488 $150K

$135,168 ’19

$34,749

$34K

$144,933

$139,945 ’20

’21 GRADUATION YEAR

04

$37,588

$157,090

$33,458 $33,266

$130K

$38K

$167,899

’22

’23

$30K

SIGNING BONUS

Average Starting Salary

REPORT HIGHLIGHTS

Joining Industries With Impact

Consulting

Financial Services

Technology

46%

26%

11%

They Accepted Positions in Diverse Functions

4

Operations/Logistics Information Technology

Finance/Accounting

Other

3 Human Resources

12 27

Marketing/Sales

General Management

4

36

145

Consulting

82

05

Achieving Remarkable Success in Their Job Search

Darden Graduates Continue a Consistent Trend of Receiving at Least 1 Offer Within 90 Days of Graduation

Timing of First Job Offers Total Seeking Employment

First Offer Received

by Graduation

First Offer After Graduation and by Three Months After Graduation

Have Not Reported Receiving an Offer

by Three Months After Graduation

NUMBER

PERCENT

NUMBER

PERCENT

NUMBER

PERCENT

Permanent Work Authorization

226

212

93.8%

6

2.7%

8

3.5%

Non-Permanent Work Authorization

105

95

90.5%

4

3.8%

6

5.7%

Total Graduates Seeking Employment

331

307

92.7%

10

3.0%

14

4.2%

Received Offer at Graduation

100%

97% 3%

Received Offer by 3 Months After Graduation

97% 93%

5%

98% 4%

96% 3%

6%

90%

94%

92%

94%

93%

’22

’23

87% 80%

’19

’20

’21

GRADUATION YEAR

06

FULL-TIME MBA CLASS OF 2023

Timing of First Job Acceptances Total Seeking Employment

First Offer Accepted

by Graduation

Accepted Job After Graduation and

by Three Months After Graduation

Have Not Reported Accepting a Job

by Three Months After Graduation

NUMBER

PERCENT

NUMBER

PERCENT

NUMBER

PERCENT

Permanent Work Authorization

226

205

90.7%

12

5.3%

9

4.0%

Non-Permanent Work Authorization

105

93

88.6%

3

2.9%

9

8.6%

Total Graduates Seeking Employment

331

298

90.0%

15

4.5%

18

5.4%

90%

Accepted Offer at Graduation

95%

Accepted Offer by 3 Months After Graduation

07

International Graduates Achieved Excellent Outcomes

RECEIVED an offer by 3 months after graduation*

08

*students with non-permanent work authorization

94%

91% ACCEPTED an offer by 3 months after graduation*

FULL-TIME MBA CLASS OF 2023

Average Salaries Hit New Heights and Median Salaries Maintained a 2-Year High

Base Salary # Reporting Base Salary

% Reporting Base Salary1

Mean

Median

Permanent Work Authorization

214

98.6%

$168,778

$175,000

Non-Permanent Work Authorization

93

96.9%

$165,876

$175,000

Total Reporting Base Salary

307

98.1%

$167,899

$175,000

(1) Divides number of students reporting Base Salary by the number of students reporting accepting a position.

Signing/Starting Bonus # Reporting Signing/ Starting Bonus

% Reporting Signing/ Starting Bonus2

Mean

Median

Permanent Work Authorization

187

87.4%

$36,209

$30,000

Non-Permanent Work Authorization

89

95.7%

$40,485

$35,000

Total Reporting Signing/ Starting Bonus

276

89.9%

$37,588

$30,000

(2) Divides number of students reporting usable Signing/Starting Bonus information by the number of students providing base salary information.

09

Translating Learning to Leadership in Diverse Industries

Salary Insights by Industry Graduates Accepting New Employment

Graduates Reporting Salary

Mean Base Salary

Median Base Salary

NUMBER

PERCENT

NUMBER

Consulting

145

46.3%

142

$182,123

$190,000

Consumer Packaged Goods

8

2.6%

8

$117,713

$117,500

Energy Financial Services

2

0.6%

2

I/D

I/D

82

26.2%

82

$167,573

$175,000

Healthcare (Including Products and Services)

11

3.5%

9

$127,163

$125,000

Manufacturing

9

2.9%

9

$128,333

$125,000

Media/Entertainment

2

0.6%

2

I/D

I/D

Non-Profit/Education

1

0.3%

1

I/D

I/D

Real Estate

5

1.6%

5

$150,200

$150,000

Retail

10

3.2%

10

$142,880

$143,900

Technology

33

10.5%

33

$152,681

$155,000

Transportation and Logistics Services

1

0.3%

1

I/D

I/D

Other

4

1.3%

3

$221,667

$225,000

Total Reporting

313

100%

307

$167,899

$175,000

Industry

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.

10

FULL-TIME MBA CLASS OF 2023

Launching Careers Across Business Functions

Compensation by Professional Function Graduates Accepting New Employment

Graduates Reporting Salary

Mean Base Salary

Median Base Salary

NUMBER

PERCENT

NUMBER

Consulting

145

46.3%

142

$181,454

$190,000

Finance/Accounting

82

26.2%

82

$167,073

$175,000

General Management Human Resources

36

11.5%

36

$143,557

$145,000

3

1.0%

3

$146,000

$143,000

Marketing/Sales

27

8.6%

25

$132,613

$126,000

Information Technology

12

3.8%

12

$161,613

$169,000

Operations/Logistics

4

1.3%

4

$138,175

$141,000

Other

4

1.3%

3

$221,667

$225,000

Total Reporting

313

100%

307

$167,899

$175,000

Industry

11

Positioned to Make a Global Impact in Hubs of Business Innovation

World Region Summary Region

Graduates Accepting New Employment

Graduates Reporting Salary

NUMBER

NUMBER

PERCENT

Mean Base Salary

Median Base Salary

Asia

4

1.3%

4

$111,560

$114,287

Europe

1

0.3%

1

I/D

I/D

Latin America & the Caribbean

2

0.6%

1

I/D

I/D

North America

305

97.4%

300

$169,453

$175,000

Oceania

1

0.3%

1

I/D

I/D

Total Reporting

313

100%

307

$167,899

$175,000

No outcomes reported in Africa.

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.

Compensation by Region: North America Graduates Accepting New Employment

Graduates Reporting Salary

Mean Base Salary

Median Base Salary

UNITED STATES

NUMBER

PERCENT

NUMBER

Mid-Atlantic

71

23.3%

70

$169,856

$175,000

Midwest

25

8.2%

25

$158,708

$175,000

Northeast South

102

33.4%

100

$169,625

$175,000

40

13.1%

39

$169,791

$175,000

Southwest

34

11.2%

33

$179,518

$190,000

West

33

10.8%

33

$165,756

$169,100

Total North America

305

100%

300

$169,453

$175,000

No outcomes reported in North America outside of the United States.

12

FULL-TIME MBA CLASS OF 2023

33%

NORTHEAST $169,625

8%

11%

MIDWEST $158,708

WEST $165,756

23% 11%

SOUTHWEST $179,518

MID-ATLANTIC $169,856

13%

SOUTH $169,791

% of Students Region Mean Base Salary (annually)

13

Top Hiring Companies

Transformational Global Employers Hire Darden’s Most Recent Graduates

COMPANY HIRED INTERNATIONAL STUDENT

14

FULL-TIME MBA CLASS OF 2023

Best-In-Class Career Resources Play Integral Role in Student Employment Success

Primary Source of Full-Time Job Acceptances School-Facilitated Activities

Number

Percent

Scheduled Interviews on or off campus for full-time employment

46

14.7%

Activities supported by career center (i.e. job fairs/conferences, employer events, information meetings, school promoted job boards)

24

7.7%

Conversion of Internship; Internship obtained through School sources

85

27.2%

Job Postings on school career systems, resume books, resume referrals by career center

80

25.6%

Other School-facilitated source

7

2.2%

School network/resources (i.e. faculty referrals, alumni referrals, classmates, campus speakers, treks, club events, class projects)

17

5.4%

Total School-Facilitated Activities

259

82.7%

Graduate-Facilitated Activities

Number

Percent

Personal contacts (i.e. previous employers, family, friends outside of school, etc.)

19

6.1%

Conversion of internship; internship obtained through graduate-initiated sources

18

5.8%

Online job postings (i.e. social media/LinkedIn, Indeed, company websites)

17

5.4%

Total Graduate-Facilitated Activities

54

17.3%

Total

313

100%

83%

SCHOOLFACILITATED

17%

STUDENTFACILITATED

15

Full-Time MBA Class of 2024 Internship Report

Class of 2024 Admissions Profile

CLASS SIZE

346 37% WOMEN

35%

INTERNATIONAL

20%

U.S. MINORITY

16%

FIRST- GENERATION COLLEGE STUDENTS

8%

LGBTQ+

8%

MILITARY

19% Hold Advanced Degrees

48 Countries Represented

32 Industries Represented

17

Top Hiring Companies for Internships

COMPANY HIRED INTERNATIONAL STUDENT

18

FULL-TIME MBA INTERNSHIP REPORT CLASS OF 2024

In Demand by Top Industries

Compensation by Industries Students Accepting Internship

Students Reporting Salary

NUMBER

PERCENT

NUMBER

Consulting

139

40.8%

Consumer Packaged Goods

15

Industry

Mean Base Salary*

Median Base Salary*

139

$14,558

$15,750

4.4%

14

$8,292

$7,860

Energy

4

1.2%

4

$3,263

$3,610

Financial Services

88

25.8%

88

$12,148

$14,583

Government

1

0.3%

1

I/D

I/D

Healthcare (Including Products and Services)

13

3.8%

13

$8,418

$8,147

Hospitality

2

0.6%

1

I/D

I/D

Manufacturing

10

2.9%

10

$8,474

$8,816

Non-Profit/Education

4

1.2%

4

$4,283

$4,333

Real Estate

3

0.9%

3

$8,228

$8,000

Retail

16

4.7%

15

$8,267

$8,667

Technology

37

10.9%

36

$9,059

$9,459

Transportation and Logistics Services

5

1.5%

5

$7,285

$7,107

Other

4

1.5%

3

$17,700

$17,917

Total Reporting

341

100%

336

$11,925

$14,167

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. *Salaries reported are monthly.

19

Prepared to Excel in Any Business Function

Compensation by Professional Functions Students Accepting Internship

Students Reporting Salary

NUMBER

PERCENT

NUMBER

Consulting

144

42.2%

Finance/Accounting

99

29.0%

Function

Mean Base Salary*

Median Base Salary*

143

$14,337

$15,750

99

$11,568

$12,500

General Management

45

13.2%

42

$8,208

$8,729

Human Resources

4

1.2%

4

$6,970

$6,717

Marketing/Sales

32

9.4%

32

$8,467

$8,323

Information Technology

6

1.8%

6

$10,364

$10,171

Operations/Logistics

7

2.1%

7

$7,484

$8,784

Other

4

1.2%

3

$17,700

$17,917

Total Reporting

341

100%

336

$11,925

$14,167

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. *Salaries reported are monthly.

20

FULL-TIME MBA INTERNSHIP REPORT CLASS OF 2024

31%

NORTHEAST $13,316

8%

13%

MIDWEST $12,749

WEST $10,393

25% 11%

SOUTHWEST $13,012

MID-ATLANTIC $10,530

10% SOUTH $12,163

% of Students Region Mean Base Salary (monthly)

21

100 Darden Blvd, Charlottesville, VA 22903 USA darden.virginia.edu

CONTACT THE CAREER CENTER Coaching & Career Education coaching@darden.virginia.edu Recruitment & Employer Engagement recruiting@darden.virginia.edu