The latest Stanford University Graduate School of Business full-time MBA class is beginning to carve out its immense career potential, already posting some better-than-ideal salary returns.
Social Impact Careers Surge
Stanford GSB’s tagline is “Change Lives, Change Organizations, Change the World.” So, it should come as no surprise that a significant number of graduates continued that mission post-MBA. In fact, there was a 50 percent increase in interest for socially responsible careers—in total, 18 percent of the class answered “yes” to a career in social impact. The goal for many graduates was to find a mission-oriented job that allowed them to touch lives and give back in some way. For some students, that meant starting their own company, while for others, it meant joining an existing organization that checked all their boxes.
Women in Entrepreneurship
The MBA Class of 2019 also stood out for women taking the entrepreneurial path. In 2010, only 22 percent of all students who launched a startup or joined a venture were women. Now, that number has nearly doubled to 40 percent.
“The same things that attract men to entrepreneurship attract women,” says Deb Whitman, Director of the Center for Entrepreneurial Studies. “Both men and women find it extremely compelling to execute on an idea that solves a problem, that aligns with their values, that allows them to determine their own destinies and make an impact in the world.”
Not only are there more female role models in the space, but Stanford GSB offers a range of support for women interested in entrepreneurship. From a support system of classmates and faculty to curriculum and extracurriculars, women in the MBA program have a substantial springboard to become entrepreneurs.
In total, 15 percent of the entire Stanford MBA Class of 2019 launched a startup this year. The top five categories for these ventures are technology (27 percent), consumer products (23 percent), nonprofit/social innovation (15 percent), finance (13 percent), and healthcare (6 percent).
Strong Job Market
The Class of 2019 not only logged record-high salaries—$152,503 on average (up 5 percent from last year)—but 41 percent of the class also reported receiving stock compensation. Of the job seekers, 56 percent also received a signing bonus of $25,000.
Technology Dips Slightly, But Diversity Reigns
Twenty-four percent of MBA graduates chose the tech industry for their careers. This places tech as the second choice overall of graduates, but still represents a nine-points drop compares to last year and a return to 2017 levels. At the same time, interest in finance increased two points up to 33 percent while consulting remained unchanged at 18 percent.
As for where these graduates were hired, a record 447 organizations offered summer internships and full-time positions to Stanford GSBers. Ninety-three percent of those companies hired just one or two students, which demonstrates the wide-ranging interests of Stanford students.
Final Thoughts
“Our graduates are purpose-driven and talented, and increasingly want to feel a strong connection to their work as well as the world around them,” said Paul Oyer, senior associate dean for academic affairs. “In this strong market, they can be flexible in waiting for a great opportunity that aligns with their values and interests.”
Read about the Class of 2019 Stanford salaries and the rest of the full report here.