The Harvard Business School (HBS) employment report shows a successful MBA Class of 2023 that matched last year’s high median base salary of $175,000. Of the 1,010 students who matriculated for the class, 73 percent were seeking employment post-MBA. Twenty-three percent of the MBA Class of 2023 did not seek employment. Of the latter, 13 percent started their own business and 11 percent were company sponsored or already employed.
Industry Choice
Positions in the financial services industry, including investment banking, investment management, venture capital, private equity and others, were still the first choice for HBS MBAs seeking employment with 35 percent choosing them. Seventeen percent had entered private equity and six percent went into venture capital. Six percent pursued roles in investment management / hedge funds and three percent in investment banking. Consulting was next with 25 percent, followed by technology jobs at 16 percent. Manufacturing took in six percent of graduates while healthcare and non-profit/government fields each saw five percent.
| Financial Services | 35% |
| Consulting | 25% |
| Technology | 16% |
| Manufacturing | 6% |
| Healthcare | 5% |
| Non-Profit/Government | 5% |
Regional Placement
Eighty-nine percent of HBS MBA graduates stayed in the U.S. to work. The Northeast and the West were the biggest draws for the graduating class, with 70 percent finding work in just those two regions. Fifty-four percent remained in the Northeast, an eight percent jump from last year. Sixteen percent of students moved to the West, down eight percent compared to last year. The Southwest saw seven percent of the class while five percent each headed to the South. Eleven percent headed abroad for work. Europe had the biggest draw, claiming five percent of graduates, followed by Asia at three percent.
| Northeast | 54% |
| West | 16% |
| Southwest | 7% |
| South | 5% |
| Midwest | 4% |
| Mid-Atlantic | 3% |
Those who entered consulting reported a median base salary of $192,000. The highest reported median base salary came from private equity, which landed at $185,000. This year, 57 percent of the class claimed a signing bonus at a median of $30,000.
