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Kellogg Employment Report 2001 Career Management Center Kellogg School of Management Northwestern University Donald P.Jacobs Center 2001 Sheridan Road Evanston, IL 60208-2012 Phone: 847.491.3168 Fax: 847.491.2750 E-mail: [email protected] Web: www.kellogg.nwu.edu Roxanne Hori Sam Samberg Assistant Dean/Director Account Manager, Manufacturing Industry Ann S. Browning Associate Director Susan Green Career Resource Manager Carla S. Edelston Associate Director Tiffany Laczkowski Job Development Specialist David C. Gent Associate Director Julie Smith Office Manager Nancy Sims Assistant Director Evelyn M. Davis Career Management Associate Julia C. Navarre Assistant Director, Recruiting Irv C. Pfeiffer Account Manager, Financial Industry Manager of Alumni Career Development Stacy Magerkurth Account Manager, Service Industry Kellogg Employment Report 2001 IFC Career Management Center 2Overview of 2001 3 Class Profile 4 Major Industries Chosen by Graduates, 1997-2001 5Graduate Salary Acceptances by Industry 6 Major Functions Chosen by Graduates, 1997-2001 7Graduate Salary Acceptances by Function 8Demographic Information 8 Salary Acceptances by Work Experience 8 Salary Acceptances by Undergraduate Degree 8 Salary Acceptances by Age 8 Salary Acceptances by Sex 9 Salary Acceptances by Geographic Distribution 10 Major Employers 11 Corporate Recruiters 14 Acceptances: Class of 2001 by Company 19 Acceptances: Class of 2001 by Student 19 Six-Quarter, Internal Transfer (IT), MD/MBA & JD/MBA students 27 Four-Quarter Students 29 Master of Management and Manufacturing Students 30 The Managers’ Program Students 34 Major Industries Chosen by Summer Interns, 1997-2001 35 Summer Intern Salary Acceptances by Industry 36 Major Functions Chosen by Summer Interns, 1997-2001 37 Summer Intern Salary Acceptances by Function 38 Major Summer Intern Employers 39 Summer Acceptances: Class of 2002 by Company 44 Summer Acceptances: Class of 2002 by Student 44 Six-Quarter and JD/MBA Students 53 Master of Management and Manufacturing Students 55 Kellogg Corporate Affiliates Overview of 2001 The 2000 - 2001 Kellogg School of Management recruiting season was full of surprises for all of us. Many companies found that their yield rates were higher than expected and turnover was much lower.This past year’s market created challenges within many organi- zations. The first group affected was the class of 2002 as they sought internships during the win- ter and spring quarters. But, in spite of a tightening of the market, Kellogg students were very successful in finding internships. Students were quite creative, some stringing together multiple projects for their summer experience. The biggest surprise of the year came for new MBA graduates in the consulting industry. Several consulting firms found they had to delay start dates for graduates of the Class of 2001. Since consulting has been our largest industry employer over the past several years, this had an immediate impact on the school. In true Kellogg School fashion, we called upon our alumni, advisory board members and faculty and were able to find short-term project work for our deferred graduates.This was one of the first major initiatives by our new dean, Dipak Jain. Thank you for the support so many of you have shown the Kellogg School program and most importantly, our students. Regardless of the number of people you need to hire this year, please know that we look forward to continuing our partnership with you. Kellogg’s success is directly tied to partnerships with our various constituencies.We con- tinue to be committed to working toward win-win situations for all of our recruiters since you truly are our partners. Thanks so much for your support this past year and know we will be here when you need us at the Kellogg School of Management. Roxanne Hori Assistant Dean and Director, Career Management Center 2 Class Profile Demographics Number of students graduating in the class of 2001 767 MBA graduates Six-Quarter students 470 Four-Quarter students 78 The Managers’ Program students 136 Internal Transfer students 15 MMM graduates 55 JD/MBA graduates** 12 MD/MBA graduates*** 1 Average age at graduation 29 Prior work experience 100 % Average length (years) 5.1 Female 32 % Minority 24 % Foreign 31 % Undergraduate majors Business 25 % Economics 18 % Engineering/Sciences 29 % Social Sciences/Humanities 28 % Undergraduate institutions represented 265 Acceptance summary Number of graduates reporting employment status to CMC 661 Number of graduate acceptances reported 536 Number of first-year students reporting employment status to CMC 501 Number of internship acceptances reported 495 ** Joint Law School/Kellogg students ** * Joint Medical School/Kellogg students 3 Major Industries Chosen by Graduates 1997–2001 Percent of Acceptances Industry 2001 2000 1999 1998 1997 Auto/transportation equipment 2 1 1 1 1 Chemicals 1 — — — 1 Commercial banking 1 2 2 2 2 Computers/consumer products 3 4 4 3 3 Consulting 39 33 36 36 38 Diversified financial services 2 1 2 4 4 E-commerce 1 8 4 — — Food/beverage/tobacco 3 3 7 5 6 Household/personal products 3 2 4 2 3 Investment banking/brokerage/securities 15 14 10 17 13 Other manufacturing 1 1 — 1 2 Petroleum/energy 1 1 — — 1 Pharmaceuticals/biotechnology/ health products 5 4 5 4 2 Private equity/venture capital 2 3 1 2 2 Real estate — 1 — 2 1 Transportation services 1 1 2 1 1 Widely diversified (manufacturing) 1 1 — 3 3 4 Graduate Salary Acceptances by Industry Industry Percent* Range Average Manufacturing 24 Aerospace † Agribusiness † Auto/transportation equipment 2 $86,400 - 98,000 $89,800 Chemicals 1 50,000 - 84,000 71,300 Computers/consumer products 3 40,000 - 110,000 88,900 Food/Beverage 3 70,000 - 95,000 80,400 Household/personal products 3 67,000 - 90,000 80,700 Other electronic equipment † Other manufacturing 1 76,900 - 93,000 86,300 Petroleum/energy 1 45,000 - 120,000 91,100 Pharmaceuticals/biotechnology/ health products 5 50,000 - 135,000 86,800 Software/printing/publishing 3 72,000 - 100,000 93,100 Telecommunications 1 88,000 - 110,000 94,400 Textiles/clothing † Widely Diversified 1 76,000 - 100,000 89,400 Services 75 Advertising † Commercial banking 1 50,000 - 85,000 73,300 Computer-related services 1 60,000 - 110,000 87,400 Consulting 39 60,000 - 143,100 107,900 Diversified financial services 2 75,000 - 110,000 90,000 E-commerce 1 75,000 - 123,000 97,300 Education † Entertainment/leisure † Food service/lodging † Government † Healthcare services 1 80,000 - 113,000 93,600 Insurance † Investment banking/brokerage/ securities 15 75,000 - 120,000 85,300 Investment management 3 75,000 - 115,000 90,900 Law † Nonprofit † Other services 1 60,000 - 120,000 87,500 Private equity/LBO 2 60,000 - 115,000 94,000 Private equity/venture capital 2 68,000 - 115,000 96,900 Real estate † Retail 1 80,000 - 85,000 84,000 Telecommunications 1 70,000 - 100,000 90,700 Transportation services 1 45,000 - 110,000 76,500 Widely Diversified † *Percentages have been rounded to the nearest whole number. †Indicates less than one percent of accepted offers. 5 Major Functions Chosen by Graduates 1997–2001 Percent of Acceptances Function 2001 2000 1999 1998 1997 Business development 5 7 5 — — Consulting* 41 39 40 40 41 General management/leadership 6 6 6 6 6 development Industrial marketing — 1 — — 1 Investment banking 12 11 7 14 12 Investment management/research 5 3 3 3 2 Operations/production 1 1 1 1 1 Other marketing 4 5 3 2 3 Other finance 6 5 6 2 3 Product management 13 11 14 14 15 Sales/trading 3 2 3 6 4 Service marketing — — 1 — 1 Strategic planning 2 4 2 1 2 Treasury/financial analysis 1 1 2 3 3 *Includes internal corporate consulting. 6 Graduate Salary Acceptances by Function Function Percent* Range Average Administration † Business development 5 $60,000 - 135,000 $89,300 Consulting 41 60,000 - 143,100 107,200 Engineering † Finance: 27 Accounting/controller † Investment banking 12 76,000 - 120,000 85,700 Investment management/research 5 75,000 - 115,000 88,800 Other finance 6 50,000 - 120,000 91,600 Sales & trading 3 75,000 - 90,000 84,300 Treasury/financial analysis 1 75,000 - 90,000 79,200 General management/Leadership development 6 50,000 - 135,000 90,400 Marketing: 17 Advertising † Industrial marketing † Other marketing 4 55,000 - 100,000 81,300 Product management 13 67,000 - 110,000 85,100 Service marketing † MIS/EDP management † Operations/production 1 90,000 - 123,000 99,800 Other 1 45,000 - 125,000 95,300 Real estate finance † Strategic planning 2 45,000 - 110,000 77,200 *Percentages have been rounded to the nearest whole number. †Indicates less than 1 percent of accepted offers. 7 Demographic Information: Class of 2001 SALARY ACCEPTANCES BY WORK EXPERIENCE Experience Percent* Range Average <1 Year 1 $85,000 - 110,000 $99,600 1–3 Years 4 55,000 - 125,000 97,500 3–5 Years 66 45,000 - 135,000 95,700 >5 Years 28 40,000 - 143,000 93,800 SALARY ACCEPTANCES BY UNDERGRADUATE DEGREE Degree Percent* Range Average Nontechnical 68 $45,000 - 135,000 $94,400 Technical 32 40,000 - 143,000 96,700 SALARY ACCEPTANCES BY AGE Age Percent* Range Average 23–24 † 25–26 10 $45,000 - 125,000 $96,200 27–29 54 45,000 - 135,000 95,300 30 or > 35 40,000 - 143,000 94,800 SALARY ACCEPTANCES BY GENDER Sex Percent* Range Average Female 28 $45,000 - 135,000 $93,900 Male 72 40,000 - 143,100 95,700 *Percentages have been rounded to the nearest whole number. 8 Salary Acceptances by Geographic Distribution Region** Percent* Range Average United States 83 Alabama † Arkansas † Bay Area 12 $72,000 - 125,000 $99,900 Boston 4 79,000 - 120,000 103,600 California 1 85,000 - 110,000 99,000 Chicago 23 45,000 - 120,000 99,300 Colorado † Connecticut † Delaware † Florida † Georgia 1 85,000 - 112,500 104,000 Illinois 1 88,000 - 120,000 99,200 Indiana 1 80,000 - 85,000 83,000 Los Angeles 3 70,000 - 120,000 103,400 Maine † Maryland † Massachusetts 2 50,000 - 112,000 97,100 Michigan 2 86,400 - 98,000 89,800 Minnesota 3 76,000 - 110,000 87,000 Missouri † Multiple U.S.