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1999 Wharton Undergraduate Summer Survey Report

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1999 Wharton Undergraduate Summer Survey Report Summer 2016 Employment Report Wharton Undergraduate Class of 2017 – Rising Seniors Student responses were collected using an online survey between August 2016 and December 2016. Of the 602 Wharton students scheduled to graduate during the 2016 – 2017 academic year, 299 completed the survey (50% response rate). Of those, 289 students indicated they worked during the summer (281 full-time, 4 part-time, and 4 didn’t specify number of hours worked) while 10 pursued other activities. Employed Full-Time Employed Part-Time Employed (hours not specified) Other Activities # Respondents: 281 # Respondents: 4 # Respondents: 4 # Respondents: 10 % Respondents: 94.0% % Respondents: 1.3% % Respondents: 1.3% % Respondents: 3.3% Paid Experience: 277 Paid Experience: 4 Completed Classes: 5 Unpaid Experience: 4 Unpaid Experience: 0 Independent Research: 1 # Reporting Salary: 240 # Reporting Salary: 4 Other: 3 Monthly Salary Range: Monthly Salary Range: Traveled: 1 $500 - $25,000 $300 - $2,000 Average Monthly Salary: Average Weekly Hours: 25 $5,616 Average Weekly Hours: 58 Range of Hours: 20-29 Range of Hours: 30-108 Job Functions of Wharton Interns (including full and part-time positions) Other Information Wharton students were once again very Marketing 3.5% Real Estate Technology 10.8% 1.0% Consulting successful in landing summer opportunities, 7.3% Management 18.1% Data Science with 93% securing full-time, paid intern- Financial 2.4% 2.4% ships. Planning & Educ/Govt/ Analysis (non- Nonprofit More students worked in marketing roles banking) 1.4% during 2016 (10.8% as opposed to 7.8% in 3.1% Engineering 2015), as well as information technology Venture Capital 2.4% (7.3% as opposed to 3.8%). Fewer students 1.0% Trading Commercial pursued opportunities in private equity 1.7% Securities Bnk./Lending (4.5% as opposed to 7.2% in 2015) and Research 1.0% trading (1.7% as opposed to 2.5%) Risk 4.5% Management Investment Average monthly compensation across all 0.7% Banking Investment full-time positions was $5,616, a slight COMPENSATIONPrivate Equity 28.2% Management decline from summer 2015. 4.5% 5.6% Average Monthly Summer Salary By School of Enrollment School of Enrollment # Of Respondents Average Monthly Salary Monthly Salary Range All Students 240 $5,616 $500 - $25,000 Wharton 155 $5,189 $500 - $22,000 Wharton / College 30 $5,113 $575 - $10,000 Wharton / Engineering 54 $7,103 $1,000 - $25,000 Wharton / Nursing 1 * * Salary statistics based on 240 students who worked full-time in paid positions and reported salary data. * Salary statistics are not released for categories representing less than 1% percent of respondents. Report prepared by Barbara Hewitt, Senior Associate Director, Career Services, University of Pennsylvania, March 2017 - 1 - General Observations on Internship Recruiting for Summer 2016 Students seeking internships for the Summer of 2016 experienced a changing landscape for internship recruiting, particularly in financial services, as many firms decided to begin their recruiting earlier than in previous years and to conduct interviews outside of the traditional on-campus recruiting process. Therefore, we saw a much larger percentage of juniors report that they obtained their internships before the semester break (42.5% for Summer 2016 as opposed to 20.7% for Summer 2015) and a much lower percentage reporting that they obtained their internship through the on-campus recruiting process (33.9% in 2016 as opposed to 55.1% in 2015). It will be interesting to see if these numbers rebound for Summer 2017, as Penn Career Services opened up on- campus recruiting for internships in October this year as opposed to the previous start dates in February. Date Internship Offer Was Received Includes 275 students who reported when they received their offers. Prior to December 2015 42.5% January 2016 – February 2016 25.5% March 2016 17.8% April 2016 7.3% May 2016 2.9% June 2016 or later 4.0% How Students Obtained Internships Includes 286 students who reported how they obtained their internships. Other Career Online Site Contacts: Services Leads 3.5% Family/Friend/ (non-OCR) Alum/Professor 10.1% 10.8% Other 3.8% Special Program 2.4% On-Campus Recruiting Previous (OCR) Employer 33.9% 5.2% Applied Directly 30.1% Organizations Employing Three or More Wharton Interns Morgan Stanley 22 Bain & Co. 4 J. P Morgan Chase 14 Capital One 4 Goldman Sachs 13 Microsoft 4 Credit Suisse 9 Amazon 3 Barclays 6 Bain Capital 3 Boston Consulting Group 6 Bank of America 3 Google 6 Bridgewater Associates 3 Centerview Partners 5 Deutsche Bank 3 Facebook 5 Financo 3 McKinsey & Co. 5 Lazard 3 Accenture 4 PJT Partners 3 Apple 4 Strategy& 3 - 2 - Industry Highlights CONSULTING FINANCIAL SERVICES Method of Finding Internship Method of Finding Internship Other Contact Other Applied 5% 10% 14% Directly Previous 11% Employer 5% OCR 37% Other OCR CS 64% Applied Other CS Leads Directly Leads 30% 11% 13% Timing of Internship Offer Timing of Internship Offer Before December April or April or 11% Later Later March 6% 11% January 13% 8% February 19% Before March December February January 36% 57% 34% 5% TECHNOLOGY Method of Finding Internship Contact OCR 20% 12% Other CS Leads 3% Other Applied 15% Directly 50% Timing of Internship Offer Before December April or 41% Later 18% March 23% February January 6% 12% - 3 - Average Monthly Summer Salary By Industry Industry # (%) Average Month Salary Monthly Salary Range COMMUNICATIONS 5 (2.1%) $2,888 $1,800 - $4,000 Advertising/Public Relations 1 (0.4%) * * Media/Entertainment 4 (1.7%) $2,810 $1,800 - $4,000 CONSULTING 36 (15.0%) $5,017 $992 - $10,000 EDUCATION 1 (0.4%) * * Higher Education 1 (0.4%) * * ENERGY/NATURAL RES. /UTILITIES 2 (0.8%) * * FINANCIAL SERVICES 128 (53.3%) $6,584 $520 - $25,000 Diversified Financial Services 13 (5.4%) $4,759 $1,120 - $10,000 Hedge Fund 10 (4.2%) $8,390 $6,000 - $10,000 Investment Banking / Brokerage 85 (35.4%) $7,091 $1,000 - $25,000 Investment Management / Counsel 7 (2.9%) $4,570 $520 - $6,667 Private Equity 13 (5.4%) $4,792 $1,500 - $7,500 GOVERNMENT 2 (0.8%) * * Non-US Government Services 1 (0.4%) * * U. S. National Laboratories 1 (0.4%) * * HOSPITALITY/LEISURE/RECREA./SPORTS 2 (0.8%) * * INSURANCE 3 (1.3%) $3,093 $2,880 - $3,200 MANUFACTURING 15 (6.3%) $3,821 $560 - $6,666 Automotive 3 (1.3%) $3,800 $2,400 - $6,000 Biomedical Products/ Pharmaceuticals 4 (1.7%) $4,347 $3,200 - $6,666 Consumer Products 7 (2.9%) $3,995 $3,200 - $4,577 Other Manufacturing 1 (0.4%)) * * NONPROFIT 1 (0.4%) * * Cultural Institutions/Arts and Culture 1 (0.4%) * * OTHER 1 (0.4%) * * REAL ESTATE 3 (1.3%) $2,000 $1,600 - $2,400 RETAIL / WHOLESALE 7 (2.9%) $1,919 $500 - $2,600 TECHNOLOGY 34 (14.2%) $5,829 $2,000 - $12,000 * Salary statistics are not released for categories representing less than 1% percent of respondents. - 4 - Average Monthly Summer Salary Job Type Job Type # (%) Average Monthly Salary Monthly Salary Range ACCOUNTING 1 (0.4%) * * Internal Accounting 1 (0.4%) * * COMMUNICATIONS 2 (0.8%) * * Advertising/Account Mgmt./Media Planning 1 (0.4%) * * Editing 1 (0.4%) * * CONSULTING 45 (18.8%) $4,756 $560 - $10,000 Management/Strategy 38 (15.8%) $4,923 $560 - $10,000 Research 4 (1.7%) $3,218 $1,600 - $4,000 Technical / Information Systems 3 (1.3%) $4,700 $4,000 - $5,100 DATA SCIENCE 6 (2.6%) $6,517 $2,000 - $12,000 Data Analyst 6 (2.6%) $6,517 $2,000 - $12,000 ENGINEERING 7 (2.9%) $6,121 $4,000 - $9,000 Project Management 4 (1.7%) $6,138 $4,000 - $9,000 Research and Development 2 (0.8%) * * Testing 1 (0.4%) * * FINANCE 118 (49.2%) $6,555 $1,000 - $25,000 Commercial Banking / Lending 3 (1.3%) $2,747 $2,480 - $3,200 Financial Planning & Analysis (non-bnk) 8 (3.3%) $3,659 $2,400 - $5,000 Investment Banking Analyst 67 (27.9%) $7,517 $1,000 - $25,000 Investment Management / Counsel 13 (5.4%) $5,675 $1,500 - $9,000 Private Equity Analyst 12 (5.0%) $4,975 $1,600 - $7,500 Risk Management 2 (0.8%) * * Sales 1 (0.4%) * * Securities Research Analyst 7 (2.9%) $6,757 $3,200 - $10,000 Trading 5 (2.1%) $7,217 $6,000 - $9,000 GOVERNMENT 1 (0.4%) * * Intelligence / Law Enforcement 1 (0.4%) * * HEALTHCARE 1 (0.4%) * * Healthcare Policy / Research 1 (0.4%) * * HOSPITALITY/LEISURE/SPORTS 2 (0.8%) * * Coach 1 (0.4%) * * Lifeguard 1 (0.4%) * * INFORMATION TECHNOLOGY 20 (8.3%) $6,443 $2,000 - $11,000 Product Designer 1 (0.4%) * * Program Manager 3 (1.3%) $7,433 $5,200 - $11,000 Software Developer / Engineer 10 (4.2%) $7,617 $3,400 - $10,000 Technical Analyst 3 (1.3%) $4,411 $2,400 - $5,833 Web Designer / Analyst 3 (1.3%) $4,157 $2,000 - $6,150 INSURANCE 1 (0.4%) * * Risk 1 (0.4%) * * MANAGEMENT 5 (2.1%) $3,279 $1,120 - $4,370 General Management 1 (0.4%) * * Operations 4 (1.7%) $3,218 $1,120 - $4,370 - 5 - MARKETING 27 (11.3%) $3,574 $500 - $6,800 Buyer / Merchandising 3 (1.3%) $2,453 $2,400 - $2,560 Marketing Analysis / Research 7 (2.9%) $4,077 $520 - $6,000 New Business Development 1 (0.4%) * * Product / Brand Management 7 (2.9%) $4,462 $2,560 - $5,900 Sales/ Sales Account Management 7 (2.9%) $3,840 $1,500 - $6,800 Social Media 2 (0.8%) * * OTHER 1 (0.4%) * * REAL ESTATE 3 (1.3%) $3,080 $2,000 - $4,641 Real Estate Investment Analysis 3 (1.3%) $3,080 $2,000 - $4,641 * Salary statistics are not released for categories representing less than 1% percent of respondents.
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