0Bwharton Undergraduate Class of 2014 Career Plans Survey Report
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Wharton0B Undergraduate Class of 2014 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 in July – October 2014 to those students who had not responded or had previously indicated they were “still seeking.” A total of 526 surveys were returned, resulting in an 89% response rate. POST-GRADUATION PLANS 2014 2013 Plan Number21B Percent22B Number Percent Full-time Employed 462 87.8% 498 86.5% Graduate School 18 3.4% 24 4.2% Additional Non-Graduate Education 1 0.2% 1 0.2% Seeking Full-time Employment 22 4.2% 33 5.7% Seeking Graduate School 1 0.2% 0 0% Self-Employed 9 1.7% 6 1.0% Part-Time Employed 2 0.4% 0 0% Short-term Employed (less than 9 months) 6 1.1% 8 1.4% Other 5 1.0% 6 1.0% FIVE-YEAR TREND OF MAJOR PURSUITS AND AVERAGE SALARIES Employed1B * Graduate School Average Salary and Range** 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 2010 82.9% 4.8% $63,555 $19,000 - $100,000 *includes full-time, short-term, part-time, and self-employed. **includes all students who indicated they were full-time employed. AVERAGE ANNUAL BASE SALARIES TREND $70,000 $69,506 $67,986 $68,000 $66,412 $66,916 $66,000 $63,555 $64,000 $62,000 $60,000 2010 2011 2012 2013 2014 1 Report prepared by Barbara Hewitt, Senior Associate Director, Career Services, University of Pennsylvania, October 2014 ANALYSIS OF EMPLOYED RESPONDENTS Starting Salaries and Bonus Figures 400 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 bonus information. 53BAverage Base Salary by School and Gender School/Program Average Range # Respondents % Respondents Overall $69,506 $30,000 – $112,000 400 100% Women $67,163 $30,000 – $100,000 171 42.8% Men $71,255 $30,000 – $112,000 229 57.2% Wharton Only $68,030 $30,000 – $110,000 268 67.0% Women $66,540 $30,000 – $90,259 123 30.7% Men $69,295 $30,000 – $110,000 145 36.3% 4 Management & $75,579 $32,000 – $110,000 38 9.5% Technology Program Women $77,714 $70,000 – $97,000 7 1.8% Men $75,097 $32,000– $110,000 31 7.7% Huntsman Program $72,054 $55,000 – $100,000 28 7.0% Women $69,450 $55,000 – $90,000 10 2.5% Men $73,500 $60,000 – $100,000 18 4.5% Life Sciences & $72,600 $62,000 – $85,000 10 2.5% Mgmt. Program Women $68,583 $62,000 – $72,000 6 1.5% Men $78,625 $72,000 – $85,000 4 1.0% Dual Wharton & $70,964 $40,000 – $110,000 38 9.5% Arts and Sciences Women $68,206 $41,000 – $90,000 17 4.2% Men $72,907 $40,000 – $110,000 21 5.3% Dual Wharton & $79,923 $60,000 – $112,000 13 3.3% Engineering Women $75,000 $60,000 – $100,000 4 1.0% Men $82,111 $70,000 – $112,000 9 2.3% Nursing & Health $48,200 $35,000 – $55,000 5 1.3% Care Mmgt. Program Women $47,750 $35,000 – $55,000 4 1.0% Men * * 1 0.3% *Salary statistics not released for categories representing fewer than three respondents. 2 54B INDUSTRIES OF EMPLOYED GRADUATES (includes full-time, part-time, short-term and self-employed respondents) Financial services remained the Technology Other Telecom. Accounting top industry of choice for Wharton 9.1% 0.9% 0.2% 0.2% Communications students, with approximately half 3.4% accepting positions in it. The most Retail Real Estate 2.1% popular subfields within finance 2.1% included investment banking with Nonprofit 32.6% followed by investment 0.6% Consulting 19.7% management and private equity Manufacturing Design with 5.1% each. Other popular 3.6% 0.2% industries included consulting Insurance which almost 20% of students 1.7% Education Hospitality/ 1.7% entered and technology with 9.1% Leisure/Sports 1.7% Energy/Nat.Res. Goldman Sachs, Citi, Morgan Healthcare 0.2% Stanley, BCG, Bain, Credit Suisse 1.5% and McKinsey were the top employers for the Class of 2014. Government Diversified 1.9% Fin. Srvcs. However students accepted 3.8% positions with a wide range of other employers including Venture Capital Hedge Fund 0.9% 1.7% Amazon, Macy’s, Caesars Private Equity Entertainment, the Consumer 5.1% Financial Protection Bureau, Investment Mgmt. Dropbox, the FBI, Google, the 5.1% Investment Banking 32.6% NFL, Nielsen, Pepsi, and TFA. JOB FUNCTIONS OF EMPLOYED GRADUATES (includes full-time, part-time, short-term and self-employed respondents) Students worked in a wide variety Scientific Research Other Real Estate Accounting of job functions. Almost half Nursing 0.2% 2.8% (49.5%) worked in some area of 1.3% 3.0% 0.9% Nonprofit (various) Communications finance including investment 0.6% 0.9% banking, financial planning/ Marketing/Sales/ Retail Consulting analysis, investment management, 8.6% 19.5% private equity, sales and trading, Management 4.1% Educational Admin. venture capital, and securities Actuarial / Risk 0.2% research. 1.3% Inform. Systems/ Economic Research Nearly 20% accepted jobs as Comp. Science 0.9% consultants. Also popular, 4.3% Teaching 0.9% (especially with dual degree Government (various) Systems students), were positions in 1.1% Engineering information systems/computer 0.2% science (4.3%). Over 4% of Venture Capital 0.9% Commercial students reported accepting jobs in Trading Banking/Lending management, including six who 3.9% 1.3% reported being self-employed. Securities Research Also popular were marketing Financial 3.2% Planning/Analysis positions (including marketing Sales (Financial) (non bnkg.) analysis, product/ brand 1.1% 2.8% management, new business development and sales positions) Private Equity Investment Investment Banking 25.9% as well as buying / merchandising 4.3% Management 6.2% positions with retailers. 3 Average Bonus Figures by Gender 400 students indicated whether they had received a sign-on bonus, with 81% responding that they had received one. 426 students indicated whether they expected to receive an annual bonus, with 84.0% expecting such a bonus. Bonus Type Overall Average Women Men Sign-on Bonus $9,468 $8,669 $10,065 Annual Bonus Amount (projected) $29,231 $23,629 $32,476 Interviewing Activity and Offer Information U U OnU -Campus Recruiting (OCR) Interview Activity 2014 2013 Employers Conducting Interviews 390 407 Total Number of Interviews Held 11,167 13,490 Average Number and Range of Interviews per 20U 14 20U 13 Student On-Campus Recruiting Interviews 8.5 (0 – 60) 8.0 (0 – 100) Career Services Interviews (Career Fairs, Online Job Listings) 1.5 (0 – 40) 1.4 (0 – 40) Interviews via Independent Job Search 2.5 (0 – 80) 2.3 (0 – 90) All Interviews Combined 12.3 (0 – 100) 11.5 (0 – 120) Average Number and Range of Job Offers Received 20U 14 20U 13 per Student On-Campus Recruiting Offers 1.4 (0 – 25) 1.4 (0 – 25) Career Services Offers (Career Fairs, Online Job Listings) 0.3 (0 – 5) 0.2 (0 – 3) Offers Resulting from Independent Job Search 0.7 (0 – 7) 0.6 (0 – 8) All Offers Combined 2.4 (0 – 30) 2.2 (0 – 27) Method of Obtaining Job Offer Accepted 20U 143 On-Campus Recruiting (OCR) 35.3% Previous OCR Employer (summer internship obtained through OCR, resulting in full-time offer) 24.2% Applied Directly to Organization 14.5%14.5% Previous Non-OCR Employer (summer internship not obtained through OCR, resulting in full-time offer) 10.4% Family/Friends/Contacts 7.5% Other Career Services Leads 5.4% Other 2.7% 34.6% of students accepting full-time jobs indicated that they interned with the employer who made the offer. 4 Date Job Offer was Received 430 graduates reported the date on which they received the offer for the position which they accepted. 94.1% received the offer prior to graduation, with 79.3% receiving the offer before or during the fall semester. DateU Received Offer %U of Graduates Prior to September 2013 37.0% September - December 2013 42.3% January - February 2014 6.7% March - May 2014 8.1% June 2014 or later 5.8% Geographic Distribution of Accepted Offers 468 students reported the location of their jobs. 7.1% accepted jobs outside of the United States. State Number Country/US Territory Number Arizona 1 Brazil 1 California 51 Canada 1 Connecticut 11 China 10 District of Columbia 8 Costa Rica 1 Florida 9 India 2 Georgia 1 Japan 1 Idaho 1 Malaysia 1 Illinois 11 Panama 1 Maryland 2 Singapore 8 Massachusetts 14 South Korea 2 Michigan 2 United Arab Emirates 2 Nevada 1 United Kingdom 3 New Jersey 12 New York 247 North Carolina 1 Ohio 4 Oklahoma 1 Oregon 1 Pennsylvania 32 Texas 10 Virginia 5 Washington 9 Wisconsin 1 5 Employers with the Most Accepted Offers (4 or more acceptances) 2014 2013 # of # of Accepted Accepted Company55B Name Company Name Offers Offers 1. Goldman Sachs 21 1 Goldman Sachs 24 2. Citi 18 2. Morgan Stanley 18 3. Morgan Stanley 16 3. Boston Consulting Group 16 4. Boston Consulting Group 14 4. J.P. Morgan Chase 15 5 Bain & Company 13 5.