THE FULL-TIME JOB HUNT
| Graduating class seeking employment (1) | | 86% |
Graduates who: |
 | received their first job offer by graduation | 66% |
| received their first job offer within the first three months after graduation | 74% |
| were company sponsored, or already employed (2) | 6% |
| were continuing their education (after graduation) (3) | 1% |
| were starting a new business (4) | 1% |
| postponed their job search | 0% |
| did not seek employment for other reasons | 1% |
| |
| Number of companies that recruited second-year students on campus in past academic year | 133 |
(1) Seeking full-time professional employment.
(2) Includes graduates whose studies were financially sponsored by their employers and are returning to those employers, or who were employed while a student and will continue working for that employer.
(3) Enrolled/will enroll in further graduate studies.
(4) Starting a new business as owner. Does not include students accepting jobs with a salary in a new (startup) business.
Top 15 recruiting firms that hired the most graduates in the past 12 months and the number of students hired:
| Firm | Graduates Hired |
| 1. Deloitte Consulting |
10 |
| 2. A.T. Kearney, Inc |
9 |
| 3. Johnson&Johnson Family of Companies |
9 |
| 4. Siebel Systems |
8 |
| 5. Eli Lily & Co. |
7 |
| 6. McKinsey & Company, Inc |
7 |
| 7. Citigroup Saloman Smith Barney |
6 |
| 8. Goldman, Sachs and Co. |
6 |
| 9. Kraft Foods Inc. |
6 |
| 10. American Express Company |
5 |
| 11. Bank of America Securities |
5 |
| 12. JP Morgan Chase & Co. |
5 |
| 13. Lehman Brothers |
5 |
| 14. Dell Computer Corp+ Diamond Cluster International |
4 |
| 15. Morgan Stanley+ UBS Warburg |
4 |
Prospects for 2002 grads (school reported):
Average starting-base salary (1) (exluding bonuses) for the Class of 2002
|
$84,922 |
Median starting-base salary (excluding bonuses) for the Class of 2002
|
$85,000 |
Average first-year signing bonus
|
$18,657 |
Median first-year signing bonus
|
$20,000 |
Job-accepting graduates who received a signing bonus
|
84% |
(1) Base salary excludes bonuses, commissions, and other compensation. Should be reported in U.S. dollars.
2002 GRADUATES REPORT
Editor's Note: Based on responses to BusinessWeek's 2002 survey of graduates.
Median starting base-salary
|
$85,000 |
Median signing bonus
|
$19,000 |
Median other compensation
|
$25,000 |
Median MBA loans
|
$43,000 |
Average number of job offers at graduation
|
1.5 |
Average living expenses (not including tuition) over course of program
|
$42,369 |
Summer internship resulted in full-time employment
|
33% |
CAREER DIRECTIONS
Graduates accepting jobs in the following fields:
| Banking/Mortgage (Investment banking, etc.) |
13% |
| Consulting Services (management consulting, strategic planning, product management, etc.) |
19% |
| Financial Services |
30% |
| Human Resources |
1% |
| Manufacturing/Operations and Production |
8% |
| Marketing |
27% |
| Real Estate |
1% |
| Other |
1% |
Graduates accepting jobs in the following regions:
| Africa | 0% |
| Asia | 3% |
| Central/South America, Mexico | 3% |
| Eastern Europe | 1% |
| Middle East | 0% |
North America
(Canada: 0% / U.S.: 100%) | 88% |
| Oceania | 1% |
| Western Europe | 2% |
Within North America:
| Canada | 0% |
| Mid-Atlantic U.S. | 5% |
| Midwest U.S. | 35% |
| Northeast U.S. | 29% |
| South U.S. | 3% |
| Southwest U.S. | 8% |
| U.S. Possessions and territories | 0% |
| West U.S. | 12% |
MBA INTERNSHIPS
Companies that recruited first-year MBA students for internships on campus in past academic year: 107
Top 15 recruiting firms:
| Firm | Interns Hired |
| 1. Eli Lily and Co. |
10 |
| 2. Ford Motor Co. |
10 |
| 3. J.P. Morgan Chase and Co. |
9 |
| 4. University of Michigan Health System |
9 |
| 5. Booz-Allen & Hamilton |
8 |
| 6. Lehman Brothers |
8 |
| 7. Merrill Lynch & Co. Inc. |
8 |
| 8. Kraft Foods, Inc. |
7 |
| 9. Dell Computer Corporation |
6 |
| 10. Banc of America Securities |
5 |
| 11. General Mills, Inc. |
5 |
| 12. General Motors Corporation |
5 |
| 13. Intel Corp. |
5 |
| 14. Johnson&Johnson Family of Companies |
5 |
| 15. Merck & Co., Inc |
5 |
Internship compensation:
| Paid internships |
98% |
| Average internship compensation |
$64,054 |
| Median internship compensation |
$68,400 |
B-SCHOOL SERVICES
Annual job-searching trips the school coordinates or participates in:
| Destination | Month offered | Paid for by B-School |
Wall Street Forum
|
Nov. |
Yes |
West Coast Forum
|
Dec. |
Yes |
TECHNOLOGY
Wireless network in main buildings: Yes
School's investment in technology over the past three years: $4,600,000
Technology changes made over the past three years:
This fall, 2002, the Business School will complete construction on The Tozzi Electronic Business and Finance Center. This will serve as a classroom, financial trading floor, and eLab. It seats 70 students and is equipped with wireless laptops on mobile desks. Also cominging in Fall 2002 is a new "virtual lab" that will allow students with laptops to access course related software from anywhere, including their home. In addition the school has two other separate labs, one is a multi-media lab with video, scanners, etc. for students to work with.
ALUMNI AFFAIRS
Alumni office offers placement services for MBA alumni? Yes
Alumni networking Web site:
http://mtrack.bus.umich.edu/
Current MBA students given access to alumni database? Yes
The B-school has awarded 23,080 MBA degrees since its founding. It has 23,000 living MBA alumni, and 40 MBA club(s) in 18 countries, where B-school alums can participate in school activities and alumni events.
During the past 12 months, 21% of alumni gave to the school's fundraising efforts. They gave a median gift of U.S. $100, and a mean gift of U.S. $953. As of Jan. 2000 the B-school has not received a gift in excess of U.S. $10 million, and the B-school's total endowment is U.S. $194,700,000
Information found in this survey was provided on behalf of the B-school by Cynthia Shaw
|
=Subscribers Only
Copyright 2002, Bloomberg L.P.
