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Wharton Undergraduate Class of 2015 Career Plans Survey Report 19B

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Wharton Undergraduate Class of 2015 Career Plans Survey Report 19B Wharton Undergraduate Class of 2015 Career Plans Survey Report 19B METHODOLOGY Students were asked through several e-mail requests and follow-up phone calls to complete an online Career Plans Survey. Follow-up emails were sent between July – September 2015 to students who had not responded or who previously indicated they were “still seeking.” A total of 588 students completed surveys out of 642 graduates, resulting in a 92% response rate. POST-GRADUATION PLANS: CLASS OF 2015 Plan Number21B Percent22B Full-time Employed 536 91.2% Military Service 2 0.3% Part-time Employed 1 0.2% Volunteer Service 1 0.2% Graduate School / Continuing Education 18 3.1% Seeking Full-time Employment 24 4.1% Seeking Graduate School / Continuing Education 2 0.3% Not Seeking Employment / Continuing Education 4 0.7% FIVE-YEAR TREND OF PRIMARY PURSUITS AND AVERAGE SALARIES Graduating Employed1B Graduate School / Average Salary and Range Class Continuing Education 2015 91.7% 3.1% $76,231 $20,000 - $150,000* 2014 91.0% 3.4% $69,506 $30,000 - $112,000 2013 88.9% 4.2% $67,986 $28,000 - $120,000 2012 88.1% 4.8% $66,916 $19,200 - $100,000 2011 89.5% 5.3% $66,412 $20,000 - $120,000 *includes all students who indicated they were full-time employed AVERAGE ANNUAL BASE SALARIES TREND $78,000 $76,231 $76,000 $74,000 $72,000 $69,506 $70,000 $66,916 $67,986 $68,000 $66,412 $66,000 $64,000 $62,000 $60,000 2011 2012 2013 2014 2015 1 Report prepared by Barbara Hewitt, Senior Associate Director, Career Services, University of Pennsylvania, October 2015 INDUSTRIES OF EMPLOYED GRADUATES One of the most notable Transportation Other changes to this year’s 0.4% 0.8% survey was the Communications Technology significantly higher 10.1% 2.3% Retail average base salary Real Estate 1.7% Consulting 1.1% students reported, 22.0% Manufacturing increasing by $6,725 Insurance 2.6% over the base salary from 2.3% Education 2014. This increase was 1.1% largely due to the fact Healthcare that most of the large 0.4% Energy/Nat.Res. financial firms raised Venture Capital 0.6% their base salaries 0.8% substantially, although Private Equity 6.8% Diversified Fin. other industries also saw Srvcs. more modest gains. 3.2% Government Hedge Fund Financial and consulting 0.8% 3.0% firms hired the largest Investment Mgmt. number of Wharton 5.1% students again this year, Investment but tech firms including Banking Google, IBM, Amazon 35.3% and Facebook also hired multiple Wharton students in 2015. JOB FUNCTIONS OF EMPLOYED GRADUATES Marketing/Sales/ Real Estate Other Communications Retail 1.5% 1.5% Actuarial / Risk 7.5% 0.9% 1.9% Management Slightly over half of the Wharton Information 4.9% Class of 2015 entered a financial Systems/Comp Sci. Consulting 23.1% job function, with the most popular 2.8% Government Educational being investment banking, (various) Teaching / Admin. investment management, private 0.8% 0.4% equity, securities research, and trading. Consulting increased in Venture Capital Engineering popularity as well this year, with 0.8% 1.1% 23.1% choosing it, up from 19.5% Trading Commercial in 2014. Students also accepted 4.1% Banking/Lending more actuarial positions. 0.9% Securities Research Financial Fewer students accepted positions 3.9% Planning/Analysis related to real estate, (non bnkg.) marketing/retail/sales, and Sales (Financial) 3.2% 1.1% information systems/computer science. Investment Banking Investment 26.8% Management Private Equity 6.9% 5.8% 2 ANALYSIS OF EMPLOYED RESPONDENTS Starting Salaries and Bonuses 474 students who accepted full-time post-graduate employment provided salary data, which is the basis for the averages in the following table. The figures listed below are salary only; they do not include bonuses. 53BAverage Base Salary by School and Gender School/Program Average Range # Respondents % Respondents Overall $76,231 $20,000 – $150,000 474 100% Women $72,976 $20,000 – $150,000 195 41.1% Men $78,506 $21,600 – $135,000 279 58.9% Wharton Only $73,690 $20,000 – $150,000 334 70.5% Women $71,093 $20,000 – $150,000 150 31.7% Men $75,806 $35,000 – $135,000 184 38.9% 4 Management & $85,975 $60,000 – $120,000 40 8.4% Technology Program Women $81,556 $65,000 – $115,000 9 1.9% Men $87,258 $60,000 – $120,000 31 6.5% Huntsman Program $76,972 $21,600 – $135,000 33 7.0% Women $79,571 $55,000 – $135,000 14 3.0% Men $75,057 $21,600 – $100,000 19 4.0% Life Sciences & $76,815 $38,500 – $85,000 19 3.8% Mgmt. Program Women $79,286 $70,000 – $85,000 7 1.5% Men $75,375 $38,500 – $85,000 12 2.3% Dual Wharton & $83,980 $49,000 – $125,000 25 5.5% Arts and Sciences Women $80,530 $67,000 – $95,000 10 2.1% Men $86,280 $49,000 – $125,000 15 3.4% Dual Wharton & $87,750 $75,000 – $125,000 20 4.2% Engineering Women $78,333 $75,000 – $85,000 3 0.6% Men $89,412 $75,000 – $125,000 17 3.6% Nursing & Health $76,000 $58,000 – $105,000 3 0.6% Care Mgmt. Program Women * * 2 0.4% Men * * 1 0.2% *Salary statistics not released for categories representing fewer than three respondents. 3 54B Average Bonuses by Gender 501 students indicated whether they had received a sign-on bonus, with 75% responding that they had received one. 426 students indicated whether they expected to receive an annual bonus, with 87% expecting such a bonus. Bonus Type Overall Average Women Men Sign-on Bonus $10,020 $8,885 $10,834 Annual Bonus Amount (projected) $28,275 $19,923 $33,546 Interviewing Activity and Offer Information U U OnU -Campus Recruiting (OCR) Interview Activity 2015 2014 Employers Conducting Interviews 373 390 Total Number of Interviews Held 11,046 11,167 Average Number and Range of Interviews per 2015 2014U Student On-Campus Recruiting Interviews 7.4 (0 – 60) 8.5 (0 – 60) Career Services Interviews (Career Fairs, Online Job Listings) 1.6 (0 – 25) 1.5 (0 – 40) Interviews via Independent Job Search 2.5 (0 – 40) 2.5 (0 – 80) All Interviews Combined 11.5 (0 – 90) 12.3 (0 – 100) Average Number and Range of Job Offers Received 20U 14 20U 14 per Student On-Campus Recruiting Job Offers 1.2 (0 – 8) 1.4 (0 – 25) Career Services Job Offers (Career Fairs, Online Job Listings) 0.2 (0 – 6) 0.3 (0 – 5) Job Offers Resulting from Independent Search 0.8 (0 – 5) 0.7 (0 – 7) All Job Offers Combined 2.2 (0 – 11) 2.4 (0 – 30) Method of Obtaining Job Offer Accepted 20U 155 On-Campus Recruiting (OCR) 32.2% Previous OCR Employer (summer internship obtained through OCR, resulting in full-time offer) 25.9% Previous Non-OCR Employer (summer internship not obtained through OCR, resulting in full-time offer) 12.2% Applied Directly to Organization 12.7% Family/Friends/Contacts 7.3% Other Career Services Leads 6.0% Other 3.7% 38.1% of students accepting full-time jobs indicated that they previously interned with the employer who made the offer. 4 Date Job Offer was Received 516 graduates reported the date on which they received the offer for the position which they accepted. 96.3% received the offer prior to graduation, with 83.5% receiving the offer before or during the fall semester. DateU Received Offer %U of Graduates Prior to September 2014 40.9% September - December 2014 42.6% January - February 2015 5.6% March - May 2015 7.2% June 2015 or later 3.7% Geographic Distribution of Accepted Offers 533 students reported the location of their jobs. 7.3% accepted jobs outside of the United States. State Number Percent Country/US Territory Number Percent California 73 13.7% Brazil 2 0.4% Connecticut 8 1.5% Chile 1 0.2% District of Columbia 8 1.5% China 12 2.3% Delaware 2 0.4% Costa Rica 1 0.2% Florida 4 0.8% Japan 1 0.2% Georgia 4 0.8% Malaysia 1 0.2% Illinois 14 2.6% Mexico 1 0.2% Maryland 1 0.2% Netherlands 1 0.2% Massachusetts 20 3.8% Panama 1 0.2% Missouri 4 0.8% Peru 1 0.2% New Jersey 8 1.5% Singapore 5 0.9% New Mexico 1 0.2% South Korea 2 0.4% New York 282 52.3% Thailand 1 0.2% Ohio 2 0.4% United Arab Emirates 1 0.2% Pennsylvania 33 6.2% United Kingdom 7 1.3% Rhode Island 1 0.2% Zimbabwe 1 0.2% Texas 12 2.3% 39 7.3% Virginia 6 1.1% Washington 11 2.1% 494 92.7% 5 Employers with the Most Accepted Offers (4 or more acceptances) 2015 2014 # of # of Accepted Accepted Company55B Name Company Name Offers Offers 1. Goldman Sachs 23 1. Goldman Sachs 21 2. Morgan Stanley 22 2. Citi 18 3. Boston Consulting Group 20 3. Morgan Stanley 16 4. Bank of America Merrill Lynch 16 4. Boston Consulting Group 14 Citi 16 5 Bain & Company 13 6. J.P. Morgan Chase 15 Credit Suisse 13 The Blackstone Group 15 McKinsey & Co. 13 8. Bain & Company 14 8. J.P. Morgan Chase 10 9. McKinsey & Co. 13 9. Bank of America Merrill Lynch 9 10. Credit Suisse 12 Oliver Wyman 9 11. Deloitte Consulting 10 The Blackstone Group 9 12. Barclays 8 12 Deloitte Consulting 8 Evercore 8 Houlihan Lokey 8 14.
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