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Welcome to our comprehensive guide on Cornell MPS salary. In this blog post, we will delve into the details of the average graduate salary, sector-wise salary breakdowns, salary comparisons across different locations, and highlight additional opportunities beyond salary considerations. Let's dive in and explore the exciting career prospects that await Cornell MPS graduates!
The MPS in Management program at Cornell University equips graduates with the knowledge and skills necessary to excel in various industries and job functions. With a strong focus on practical business applications, this program prepares students for successful careers in management, consulting, finance, and more. One crucial aspect that students consider while pursuing their MPS degree is the salary potential.
Average Graduate Cornell MPS Salary
Average graduate Cornell MPS salary of class 2022: $62,619
The average salary for Cornell MPS program for Management graduates from Cornell is an essential factor to consider when evaluating the program's value. According to the employment report for the class of 2022, the average Cornell MPS salary for graduates was $62,619, with an additional average signing bonus of $8,984.
In the United States, graduates secured an average base salary of $79,605, with an average signing bonus of $6,006. On the other hand, non-US-based jobs offered an average base salary of $44,633, accompanied by an average signing bonus of $14,938. These figures highlight the potential variation in compensation based on the location of employment.
Sector-Wise Opportunities & Earnings
When it comes to sector-wise salary breakdowns of Cornell MPS salary, the financial services industry emerged as the leading employer for MPS Management graduates, with 41% of the class finding employment in this sector.
The average base salary in the financial services industry stood at $73,316, with a median base salary of $70,000. Consulting followed closely, with 23% of the class entering this industry, offering an average base salary of $58,033. Technology, with a 13% employment rate, provided an average base salary of $55,054.
1. Financial Services
Jobs in financial services can vary widely in terms of compensation. Entry-level positions in banking or financial analysis may offer salaries ranging from $50,000 to $100,000 or more. Senior roles in investment banking, hedge funds, or private equity can command significantly higher salaries, often exceeding $200,000 or even into the millions for top executives.
2. Consulting
Consulting firms often offer competitive salaries, especially for candidates with advanced degrees. Entry-level consultants might earn around $60,000 to $120,000, while experienced consultants or those at top-tier firms can earn well over $200,000, including bonuses.
3. Technology
The technology sector is known for its competitive salaries, particularly in areas like software development, data science, and product management. Entry-level positions in technology can range from $60,000 to $120,000, with significant variations depending on the company and location.
Sectors | Average Salary | Highest Salary | Key Employers |
Consulting | $42,000 | $148,000 | McKinsey & Company, BCG |
Technology | $55,054 |
$75,692 | Goldman Sachs, J.P. Morgan |
Financial | $75,100 | $78,500 | Goldman Sachs, J.P. Morgan |
Other industries, such as accounting services, consumer packaged goods, education, energy/utilities, healthcare/pharma, hospitality, retail, and more, constituted 23% of the employment distribution for MPS graduates. While specific salary data for these industries are not available, they offer diverse opportunities for graduates seeking varied career paths.
Job Placement Records
The MPS in Management program at Cornell University celebrated the achievements of its class of 2022, which comprised 75 talented graduates. A remarkable aspect of this cohort's success is evident in their post-graduation employment statistics. Impressively, 89% of these graduates, who were actively seeking full-time employment, received job offers within just six months of completing their studies. Equally noteworthy is the fact that the same percentage, 89%, accepted these offers within the same timeframe. This high rate of job offers and acceptances underscores the program's effectiveness in preparing students for successful careers in management.
Top companies hiring
Cornell MPS Graduate Career Services team is always there to help you get ahead in your chosen career path. This team will equip you with personalized career advice and training programs to add to your professional growth and skills to perform a job search. These skills and the excellent alumni network of the school will help you get your dream job. The top sectors where the alumni of Cornell MPS graduates work are consulting, finance, and technology.
Consulting | Finance | Technology |
McKinsey & Company | Goldman Sachs | Amazon |
Boston Consulting Group (BCG) | J.P. Morgan | |
Bain & Company | BlackRock | Microsoft |
Salary Across Different Locations
Considering the global nature of business, it's essential to explore salary prospects in different locations. MPS graduates from Cornell found opportunities both in North America and Asia. North American jobs boasted an average base salary of $79,626, with a median base salary of $80,000. In contrast, Asia offered an average base salary of $42,918, with a median base salary of $40,000.
It's important to note that these figures provide an overview and serve as a starting point for understanding Cornell MPS salary variations based on geographic location. Factors such as cost of living, industry demand, and specific job roles can influence the salary landscape in different regions.
- New York City: Salaries in New York City are typically higher than the national average across various sectors. This is especially true for roles in finance, consulting, and technology. Entry-level positions in these fields may have higher starting salaries compared to other regions.
- San Francisco Bay Area: The San Francisco Bay Area, including Silicon Valley, is known for its thriving technology industry. Salaries in technology-related roles are often very competitive here, but the cost of living is also high.
- Washington, D.C.: D.C. is a hub for government agencies, nonprofits, and consulting firms. Salaries in fields related to government and policy can be competitive, and there are many opportunities for professionals with advanced degrees.
- Boston: Boston has a strong presence in healthcare, biotech, and education. Salaries in these sectors can be competitive, and there's a demand for professionals with specialized knowledge.
- Chicago: Chicago is a major financial center and has a diverse job market. Salaries in finance and consulting can be competitive, but the cost of living is generally lower than in cities like New York or San Francisco.
Other Opportunities Along With Salary
While Cornell MPS salary is a crucial consideration, it is not the sole factor contributing to career satisfaction and growth. MPS graduates from Cornell have access to a wide range of opportunities beyond salary, such as career advancement prospects, networking with industry professionals, skill development, and exposure to cutting-edge research and innovation.
Beyond considering salary, prospective students of Cornell's Master of Professional Studies (MPS) programs should be aware of the manifold benefits these programs offer. Graduates of Cornell's MPS programs gain access to a wide range of opportunities that contribute significantly to their career satisfaction and growth.
These opportunities encompass career advancement prospects, valuable networking with industry professionals, skill development through a comprehensive curriculum, and exposure to cutting-edge research and innovation. The MPS programs at Cornell provide students with a holistic educational experience that goes well beyond financial considerations.
Graduates are well-prepared to excel in their chosen fields, whether through ascending the corporate hierarchy, assuming leadership roles, or transitioning into specialized areas within their respective industries. This multifaceted approach to education at Cornell sets the stage for long-term success and professional fulfillment in the dynamic and competitive business world.
Conclusion
The MIM program in USA offers graduates a wealth of opportunities in terms of salary potential and career growth. The class of 2022 employment report highlights average base salaries, sector-wise distributions, and geographical variations to provide valuable insights into the program's outcomes.
While salary is an essential aspect, it is equally important to consider other factors like industry preferences, personal interests, and long-term goals when making career decisions.