Wharton Class of 2002 - University of Pennsylvania

WHARTON UNDERGRADUATE

CLASS OF 2017 CAREER PLANS SURVEY

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 and phone calls were sent between July and September 2017 to students who had not responded or who previously indicated they were "still seeking." Plans were obtained for a total of 548 students out of 636 graduates. Of these, 511 filled out the survey and/or confirmed their information with Career Services, resulting in an 80% "response rate". Data for an additional 37 graduates was verified via LinkedIn research, resulting in an 86% "knowledge rate."

POST-GRADUATION PLANS: CLASS OF 2017

Plan

Number

21B

Percent

2B

Full-time Employed Military Service Graduate School / Continuing Education Seeking Full-time Employment Seeking Graduate School / Continuing Education Not Seeking Employment / Continuing Education

519

94.7%

3

0.5%

11

2.0%

11

2.0%

2

0.4%

2

0.4%

FIVE-YEAR TREND OF PRIMARY PURSUITS AND AVERAGE SALARIES

Graduating Class 2017 2016 2015 2014 2013

Employed

1B

95.2% 89.8% 91.7% 91.0% 88.9%

Graduate School / Continuing Education

2.0% 5.8% 3.1% 3.4% 4.2%

Average Salary and Range

$80,566 $77,566 $76,231 $69,506 $67,986

$30,000 - $175,000 $28,000 - $150,000 $20,000 - $150,000 $30,000 - $112,000 $28,000 - $120,000

"Employed" includes full-time employed, part-time employed, military services, and volunteer service

AVERAGE ANNUAL BASE SALARIES TREND

$85,000 $80,000 $75,000 $70,000 $65,000 $60,000

$67,986

2013

$69,506

$76,231

$77,566

2014

2015

2016

$80,566

2017

Report prepared by Barbara Hewitt, Senior Associate Director, Career Services, University of Pennsylvania, October 2017 1

INDUSTRIES OF EMPLOYED GRADUATES

Technology 14.7%

Other 0.2%

Real Estate 2.7%

Retail 2.3%

Manufacturing 3.7%

Transportation 0.2%

Insurance 0.6%

Healthcare 0.8%

Government 1.2%

Venture Capital 0.4% Private Equity 5.2%

Investment Mgmt. 4.8%

Communications 1.2% Consulting 19.6% Education / Nonprofit 1.0%

Energy/Nat.Res. 0.8%

Diversified Fin. Srvcs. 4.7%

Hedge Fund 3.9%

Hospitality / Leisure / Sports 0.8%

Investment Banking 31.4%

A vast majority of the Wharton Class of 2017 entered the workforce following graduation, with only 2% opting to pursue graduate school immediately.

We continued to see an increase in the percentage of students entering the technology field, as well as real estate, investment banking and hedge funds over the Class of 2016.

Fewer students entered the communications, venture capital, consulting and insurance industries as compared to the Class of 2016.

The average salary increased by about 4%.

Slightly under half of students entered a financial job function, with the popularity of investment banking roles increasing this year, along with trading, real estate, and data analytics.

Less popular job functions this year includes private equity, securities research, and venture capital.

Consulting and marketing/sales/ retail job functions remained popular as well with students from the Class of 2017.

JOB FUNCTIONS OF EMPLOYED GRADUATES

Real Estate Other

Management 4.8%

Education

2.9% 1.0%

Communications 0.6%

Actuarial 0.4%

0.4%

Marketing/ Sales/

Info. Sys. / Comp Sci.

2.9%

Retail 9.5%

Consulting 22.1%

Data Analytics

Government

4.5%

(various) 0.8%

Education (teaching/research)

Venture Capital

0.4%

0.4%

Engineering

Trading

0.4%

3.3% Securities Research

1.4% Risk Mgmt.

0.6%

Sales (Financial) 1.0% Private Equity 4.5%

Investment Management

Investment Banking 28.1%

Commercial Banking/Lending

1.7%

Financial Planning/Analysis

(non bnkg.) Healthcare & 1.4%

Nursing 0.6%

6.6%

2

ANALYSIS OF EMPLOYED RESPONDENTS

Starting Salaries and Bonuses

382 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 bonuses.

Average Base Salary by School and Gender

53B

School/Program

Average

Range

# Respondents % Respondents

Overall

$80,566

$30,000 ? $175,000

382

100%

Women

$76,608

$32,000 ? $115,000

173

45.3%

Men

$83,896

$30,000 ? $175,000

209

54.7%

Wharton Only

$78,293

$30,000 ? $120,000

274

Women

$75,625

$32,000 ? $105,128

128

Men

$80,632

$30,000 ? $120,000

146

4

Management &

$95,158

$45,000 ? $175,000

38

Technology Program

Women

$85,179

$57,500 ? $115,000

14

Men

$100,979

$45,000 ? $175,000

24

71.7% 33.5% 38.2%

10.0%

3.7% 6.3%

Huntsman Program

$75,145

$50,000 ? $95,000

25

Women

$73,422

$60,000 ? $85,000

11

Men

$76,500

$50,000 ? $95,000

14

6.6% 2.9% 3.7%

Life Sciences &

$83,118

$75,000 ? $85,000

14

Mgmt. Program

Women

$82,143

$75,000 ? $85,000

7

Men

$84,093

$80,000 ? $85,000

7

3.6%

1.8% 1.8%

Dual Wharton & Arts $81,105

$52,000 ? $130,000

19

and Sciences

Women

$77,000

$55,000 ? $85,000

10

Men

$85,667

$52,000 ? $130,000

9

5.0%

2.6% 2.4%

Dual Wharton &

$98,650

$72,500 ? $135,000

10

Engineering

Women

*

*

2

Men

$101,438

$72,500 ? $135,000

8

2.6%

0.5% 2.1%

Nursing & Health

*

*

Care Mgmt. Program

Women

*

*

Men

*

*

2

0.6%

1

0.3%

1

0.3%

3

54B

Average Bonuses by Gender

388 students indicated whether they had received a sign-on bonus, with 81% responding that they had received one. 336 students indicated whether they expected to receive an annual bonus, with 83% expecting such a bonus.

Bonus Type Sign-on Bonus Annual Bonus Amount (projected)

Overall Average $12,703 $29,476

Women $9,938 $21,297

Men $14,984 $34,545

Interviewing Activity and Offer Information

On-Campus Recruiting (OCR) Interview Activity

U

Employers Conducting Interviews Total Number of Interviews Held

2017

U

290 8,394

2016

U

334 8,910

Average Number of First Round Interviews and Offers Per Student

First Round Interviews

Job Offers

2017

7.6 (0 ? 70) 1.8 (0 ? 20)

2016

U

7.6 (0 ? 75) 1.8 (0 ? 10)

Method of Obtaining Job Offer Accepted

2017

2016

On-Campus Recruiting (OCR)

23.4%

36.7%

Previous OCR Employer (internship obtained through OCR, resulting in full-time offer)

23.8%

23.7%

Previous Non-OCR Employer (internship not obtained through OCR, resulting in full-time offer)

22.9%

7.3%

Applied Directly to Organization

10.9%

13.2%

Family/Friends/Contacts (including academic department)

7.9%

8.8%

Other Career Services Leads

8.1%

6.6%

Other

3.0%

3.7%

46.7% of students accepting full-time jobs indicated that they previously interned with the employer who made the offer.

Date Job Offer was Received

447 graduates reported the date on which they received the offer for the position which they accepted. 94.4% received the offer prior to May 2017 graduation, with 83.5% receiving the offer before or during the fall semester.

Date Received Offer

U

Prior to September 2016 September - December 2016 January - February 2017 March - May 2017 June 2017 or later

% of Graduates

U

45.2% 38.3% 4.0% 6.9% 5.6%

4

Geographic Distribution of Accepted Offers

514 students reported the location of their jobs. 5.1% accepted jobs outside of the United States.

State

Number Percent

Country/US Territory Number Percent

Alabama

1

California

72

Colorado

4

Connecticut

11

Delaware

1

District of Columbia 11

Florida

1

Idaho

1

Illinois

14

Maryland

4

Massachusetts

22

Minnesota

3

Missouri

1

Nevada

1

New Jersey

8

New York

267

Ohio

1

Pennsylvania

31

Rhode Island

1

Tennessee

1

Texas

9

Utah

1

Virginia

12

Washington

10

Total

488

0.2% 14.0% 0.8% 2.1%

2.1% 0.2% 0.2% 0.2% 2.7% 4.3% 0.8% 0.6% 0.2% 1.6% 0.2% 52.0% 0.2% 6.0% 0.2% 0.2% 1.8% 0.2% 2.3% 1.9% 94.9%

Bermuda

1

Canada

2

Germany

1

China

5

India

2

Japan

2

Kenya

1

Korea, South

1

Malaysia

1

Morocco

1

Netherlands

1

Oman

1

Singapore

1

Taiwan

1

United Arab Emirates

1

United Kingdom

4

Total

26

0.2% 0.4% 0.2% 1.0%

0.4% 0.4% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.8% 5.1%

5

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