UI business students find success in job search after graduation
According to UI MBA Career Services, average starting salary for a May 2000 graduate of the UI MBA program was $73,836, up 12 percent from 1999. The average signing bonus was $12,466, an increase of 38 percent since last year. The statistics were compiled from the 2000 MBA class of 65 students
Deanna Hurst, director of the UI Business and Liberal Arts Placement Office (BLAPO), said 84 percent of December 1999 undergraduate business majors were employed in professional positions with an average starting salary of $34,825. BLAPO statistics come from a six-month follow-up survey of 206 graduates with bachelor's of business or liberal arts economic degrees.
Kathie Decker, director of UI MBA Career Services, said the job market for MBAs remains strong in a good economy, with nearly all placements occurring before graduation. There was a high demand for graduates with MBAs in finance and accounting (about half the class), with starting salaries averaging $74,913. MBA students in marketing and sales had the highest average salaries of $77,300.
Students who graduated with degrees in accounting, economics and management information systems (MIS) earned the highest average starting salaries for undergraduates. Graduates with MIS degrees earned the highest salaries, starting at $44,225, while accounting graduates placed in top firms earned $40,250, and economics graduates earning $38,125.
Deanna Hurst, director of BLAPO, said that in addition to the increases in salaries, there has also been considerable growth in the number of signing bonuses for undergraduates. She said that in the past only MBA or highly technical majors received these bonuses, but they have recently shifted to other areas as a result of competitive recruiting.
The majority of employers who recruited UI business graduates came from the Midwest. The BLAPO report indicated that 38 percent of the graduates took jobs within Iowa, 37 percent went to Illinois, and 14 percent went to other states in the Midwest.
MBA students also tended to stay in the Midwest, with 74 percent taking jobs in neighboring states and 11 percent staying in Iowa.
For more information, contact Hurst at (319) 335-1023 or Decker at (319) 335-1025.
Contact: George McCrory, UI News Service, 319-384-0012