Chicago Booth MBA Jobs & Salary Review

The University of Chicago Booth School of Business is one of the best business schools in the world. Its MBA program is ranked among the top 10 globally by the Financial Times, while US News places it third in the US.

Based in the center of Chicago, the Booth School of Business has a reputation for producing some of the most influential global leaders in technology, finance, and government. 

Prominent alumni include Satya Nadella, CEO of Microsoft, Kevan Parekh, CFO of Apple, and Joe Mansueto, founder of Morningstar. 

This year’s MBA employment statistics reinforce Booth’s reputation for producing highly capable graduates. In total, 84.1% of the 521 graduates seeking employment accepted a job offer within three months of graduation—though this figure is lower than for the previous class, in line with other business school trends. 

Among those not seeking employment after graduation, 10% were sponsored by their employer, and almost 4% (25 students) planned to start their own businesses. 

But who exactly is hiring Chicago Booths MBA graduates? And, with the program costing more than $160,000 for two-years of study, is the Chicago Booth MBA worth it? 

Companies hiring Chicago Booth MBA grads

Each year, Chicago Booth MBAs are hired at a wide variety of companies in sectors as diverse as financial services, healthcare, retail, and technology. 

In 2024, the top three recruiters of Chicago Booth MBA graduates were, incidentally, the Big Three consulting firms: Boston Consulting Group, McKinsey & Company, and Bain & Company. Together, these sector leaders hired over 100 graduates from the Chicago Booth MBA Class of 2024. 

Other companies that appeared in the top hiring companies of 2024 graduates were Google, Amazon, Goldman Sachs, Deloitte, and Samsung. 

Nearly 50% of MBA hires were at companies hiring four or more graduates, a percentage that has stayed roughly level in the last five graduating classes. 

Most popular industries for Chicago Booth MBAs

The most popular industry for Chicago Booth MBA graduates this year was consulting, as evidenced by the Big Three’s status as the top three hirers of grads. In total, 33.8% of MBA graduates entered the sector this year, a slight decrease from 2023.

However, consulting was closely followed by financial services, the destination for 32.9% of Booth MBA grads. 

In addition to these two popular MBA industries, other destinations for graduates included technology (14.8%), healthcare (4.1%), and consumer products (2.3%). 

But Chicago Booth MBA graduates didn’t just go on to work with established multinationals. Overall, 3% of accepted offers were with startups in industries including clean tech, software, venture capital, and aerospace.

Chicago Booth MBA Employment By Industry

Average Chicago Booth MBA salary

Tuition fees for the two-year Chicago Booth MBA total $168,396, on par with other top-ranked US MBAs. For this outlay, students will be hoping that their graduating salary provides significant returns.

On this point, students can be hopeful. In 2024, the median starting salary for Booth MBA graduates was $175,000, and the median sign-on bonus topped $31,000. These figures are only marginally lower than the previous year when the median salary was $180,000. 

The highest salaries were reported by graduates working in law, where the median salary reached $225,000. The median salary for graduates in financial services was $175,000, and in consulting, it was $190,000, both on par with 2023 numbers.

The largest sign-on bonuses were reported in financial services, where students saw an average bonus of $50,000. Overall, 71% of Booth MBA graduates who accepted job offers also received a sign-on bonus. 

Average salaries varied in the financial services category. Graduates working in investment management reported the highest median salary, $182,000, while graduates in insurance reported the lowest average salary ($142,000). 

For students accepting job offers in startup companies, salaries were understandably lower than the general average. Among these students, the median salary was $147,900, though the highest-earning graduates saw startup salaries of $210,000.

Chicago Booth Median MBA Salaries (+ Bonuses) By Industry

Chicago Booth MBA graduate job destinations 

The vast majority of Chicago Booth MBAs within the Class of 2024 accepted jobs in the US (94.1%), where average reported salaries reached $175,000. 

Most grads who went on to work in the US were based in either the Northeast (primarily in New York or Boston) or the Midwest (primarily in Chicago, naturally). 

However, 20% of MBA graduates went on to work on the West Coast, with almost half settling in the Bay Area, long known as a hub for startups and technology and home to the famous Silicon Valley. Additionally, 6% of MBA graduates accepted job offers in the Southwest (for example, Dallas or Houston). 

The remaining 5.9% of Chicago Booth MBA graduates accepted international job offers in 2024. Asia was the most popular region among these graduates (3%), followed by Latin America and the Caribbean (1.4%). 

Chicago Booth MBA Employment By Region

Given Chicago’s status as a finance, technology, and consulting hub, MBA students targeting these industries will find the Chicago Booth MBA a very valuable option for their studies. 

Over 80% of the graduating class of 2024 are hired in these three industries alone, commanding salaries that offer significant ROI on the financial investment in your MBA. 

Located in the Midwest, MBA graduates of Chicago Booth have plenty of options for relocating across the US for graduate jobs. Alumni connections at some of the largest companies in America make Chicago Booth a valuable place to start your career in the US.

*The data sourced in this article is based on the 2024 Chicago Booth Full-Time MBA Employment Report.