Base Salaries

Industry - Full Time

Base Salary Acceptances - by Industry, Full-time Class of 20191

Industry Percent(%) Low($) High($) Average($) Median($)
Agribusiness 0.2% * * * *
Consulting 31.0% 80,452 170,000 150,603 160,000
Consumer Packaged Goods 8.0% 70,000 165,000 121,074 115,000
Apparel/Textiles 0.8% 135,000 142,100 136,775 135,000
Electronics 0.2% * * * *
Food and Beverage 3.7% 70,000 157,500 119,898 117,500
Household/Personal 2.3% 98,000 155,000 115,333 110,000
Luxury Goods 0.4% * * * *
Other Consumer Packaged Goods 0.6% * * * *
Energy 0.8% 110,000 137,000 124,250 125,000
Financial Services 18.5% 50,000 300,000 147,473 150,000
Diversified Financial Services 1.0% 120,000 200,000 137,600 121,500
General Financial Services 0.2% * * * *
Hedge Funds 0.2% * * * *
Insurance 0.8% 120,000 138,500 129,625 130,000
Investment Banking/Brokerage 5.7% 73,500 250,000 148,667 150,000
Investment Management 1.7% 120,000 175,000 139,444 130,000
Private Equity 7.4% 97,500 300,000 156,735 150,000
Venture Capital 1.3% 50,000 162,500 122,083 125,000
Other Financial Services 0.2% * * * *
Healthcare 6.5% 60,000 275,000 128,794 125,000
Biotechnology 0.2% * * * *
General Healthcare 0.8% 115,000 125,000 121,250 122,500
Medical Devices 0.8% * * * *
Pharmaceutical Manufacturers 0.8% 118,000 135,000 127,000 127,500
Pharmaceutical Other 0.8% 120,000 137,000 129,250 130,000
Providers & Services 2.9% 60,000 275,000 135,250 130,000
Other Healthcare 0.2% * * * *
Hospitality 0.2% * * * *
Manufacturing 2.3% 112,000 145,000 124,151 120,000
Automotive 0.4% * * * *
Chemicals 0.4% * * * *
General Manufacturing 0.6% * * * *
Other Manufacturing 0.9% 112,000 120,000 117,283 120,000
Media/Entertainment 0.4% * * * *
Nonprofit 1.5% 75,000 122,000 90,500 87,500
Real Estate 1.9% 70,000 150,000 112,500 117,500
Commercial 0.9% 90,000 150,000 112,000 100,000
General Real Estate 0.4% * * * *
Residential 0.2% * * * *
Services 0.2% * * * *
Other Real Estate 0.2% * * * *
Retail 2.7% 90,000 177,000 120,845 112,500
Technology 25.1% 68,000 270,000 133,075 133,500
EdTech 0.2% * * * *
Equipment/Hardware/Networking 2.9% 115,000 163,000 139,900 140,000
FinTech 1.5% 100,000 150,000 130,256 135,000
General Technology 6.1% 76,530 160,000 135,048 132,500
HealthTech 0.8% 105,000 140,000 124,375 126,250
Internet Services/E-Commerce 6.7% 68,000 270,000 127,642 130,000
Software 6.3% 106,000 175,000 135,763 137,500
Telecommunications Services 0.2% * * * *
Other Technology 0.4% * * * *
Transportation & Logistics Services 0.9% 110,000 151,030 125,606 111,000
197% of job accepting graduates provided usable salary information.
*Reporting numbers insufficient to provide salary data.

Function - Full Time

Base Salary Acceptances - by Function, Full-time Class of 20191

Function Percent(%) Low($) High($) Average($) Median($)
Business Development 2.3% 70,000 150,000 123,841 130,000
Consulting 34.0% 80,452 175,000 148,817 152,500
Corporate Strategy/Strategic Planning 4.8% 76,530 177,000 130,073 130,000
Finance/Accounting 18.5% 50,000 300,000 142,932 150,000
Accounting 0.2% * * * *
Analyst/Research 0.2% * * * *
Corporate Development 1.1% 75,000 140,000 116,315 122,500
Corporate Finance 0.9% 77,645 151,030 118,419 122,500
General Finance 0.8% 111,000 142,100 123,700 118,000
Investment Banking 5.5% 73,500 250,000 149,104 150,000
Investment Management 2.6% 97,500 270,000 163,036 152,500
Mergers & Acquisitions within Company 1.7% 125,000 300,000 169,444 160,000
Other Finance 0.8% 135,000 200,000 158,125 148,750
Private Client Services/Wealth Management 0.6% * * * *
Private Equity 1.3% 100,000 200,000 132,236 121,708
Restructure/Turnaround 0.2% * * * *
Risk Management 0.2% * * * *
Venture Capital 0.8% 50,000 120,000 102,500 120,000
Real Estate Asset/Property Management 0.2% * * * *
Real Estate Development/Construction 0.8% 115,000 150,000 126,250 120,000
Real Estate Finance 0.6% * * * *
General Management 11.7% 68,000 175,000 127,298 130,000
General Management 6.9% 71,000 175,000 133,167 135,000
Project Management 0.9% 70,187 133,500 107,737 130,000
Retail Management 0.2% * * * *
Rotational/Development Program 2.8% 120,000 160,000 129,806 125,000
Service Operations 0.2% * * * *
Other General Management 0.6% * * * *
Marketing/Sales 13.8% 90,000 270,000 125,253 120,000
Buyer/Merchandising 0.2% * * * *
Brand Management 8.2% 95,000 270,000 125,220 118,000
Communications/Public Relations 0.2% * * * *
General Marketing/Sales 2.8% 105,000 165,000 124,750 120,000
Merchandising/Retail 0.6% * * * *
Product Development 0.6% * * * *
Product Marketing Management 0.6% * * * *
Research/Consumer Insights 0.2% * * * *
Sales 0.2% * * * *
Other Marketing/Sales 0.2% * * * *
Operations/Logistics 2.5% 70,000 150,000 129,217 137,500
Operations/Production 2.1% 70,000 150,000 127,060 135,000
Purchasing 0.2% * * * *
Supply Chain/Logistics 0.2% * * * *
Other 2.1% 60,000 275,000 126,500 120,000
Administration 0.4% * * * *
Corporate Social Responsibility 0.2% * * * *
Data Analytics/Data Science 0.4% * * * *
Economic Analysis/Research 0.4% * * * *
Education (Administrator/Faculty) 0.2% * * * *
Entrepreneurship 0.2% * * * *
Healthcare/Medical Professional 0.4% * * * *
Technology 10.3% 94,000 180,000 135,533 135,000
Business Analysis and Design 0.9% 112,000 170,000 136,800 130,000
E-Commerce/Internet/Web Site Mgmt 0.4% * * * *
General Technology 3.1% 100,000 175,000 137,806 140,000
Product Management 5.9% 94,000 180,000 134,835 135,000
197% of job-accepting graduates reported usable salary information.
*Reporting numbers insufficient to provide salary data

Industry - Internships

Monthly Salaries1 - by Industry, Summer Interns, Class of 20202

Industry Percent(%)3 Low($) High($) Average($) Median($)
Consulting 27.9% 2,800 14,583 12,281 13,500
Consumer Packaged Goods 9.2% 1,667 13,800 7,246 7,583
Apparel/Textiles 1.2% 5,948 12,000 7,781 6,370
Food and Beverage 6.4% 1,667 13,800 7,339 7,627
General Consumer Packaged Goods 0.2% * * * *
Household/Personal 1.2% 6,800 8,160 7,543 7,592
Luxury Goods 0.2% * * * *
Energy 1.2% 4,333 14,000 7,989 7,533
Financial Services 14.6% 1,666 13,600 9,096 10,000
Commercial Banking 0.2% * * * *
Diversified Financial Services 0.8% 4,800 11,000 8,877 9,854
Economic Development/Microfinance 0.2% * * * *
General Financial Services 0.2% * * * *
Hedge Funds 0.4% * * * *
Insurance 0.2% * * * *
Investment Banking/Brokerage 6.0% 8,333 13,333 12,027 12,500
Investment Management 1.0% 6,240 12,000 8,715 8,334
Private Equity 3.3% 1,680 13,600 7,393 7,400
Venture Capital 2.3% 1,666 10,000 4,451 4,000
Government 0.4% * * * *
Healthcare 5.5% 2,200 9,600 7,014 7,306
General Healthcare 1.0% 7,200 8,846 7,809 7,800
Medical Devices 1.4% 6,400 9,600 7,789 7,840
Pharmaceutical Manufacturers 0.6% * * * *
Pharmaceutical Other 0.4% * * * *
Providers & Services 1.7% 2,200 9,583 6,429 6,800
Other Healthcare 0.4% * * * *
Hospitality/Tourism 0.6% * * * *
Manufacturing 5.0% 3,500 11,000 7,841 8,500
Automotive 0.6% * * * *
Chemicals 1.0% 7,400 10,000 8,569 8,000
General Manufacturing 1.2% 8,500 11,000 9,056 8,500
Other Manufacturing 2.2% 3,500 9,500 7,060 8,500
Media/Entertainment 1.0% * * * *
Entertainment/Leisure/Recreation 0.8% * * * *
Radio/TV/Cable/Film 0.2% * * * *
Nonprofit 2.8% 2,000 12,500 4,865 4,000
Consulting 0.2% * * * *
Nonprofit Education 0.4% * * * *
General Nonprofit 1.2% 4,000 4,000 4,000 4,000
Social Enterprise 1.0% 2,000 6,800 4,229 4,345
Other 2.2% 2,000 8,000 4,870 4,350
Agribusiness 0.2% * * * *
For Profit Education 0.4% * * * *
Engineering Services 0.2% * * * *
Environmental Services & Sustainability 0.2% * * * *
Sports & Sports Management 1.2% 3,000 8,000 4,640 4,200
Real Estate 1.4% 3,200 12,500 8,186 9,000
Commercial 1.2% 3,200 12,500 8,050 8,500
General Real Estate 0.2% * * * *
Retail 3.1% 3,500 10,000 7,154 7,400
Technology 24.8% 1,849 12,080 7,731 8,021
Equipment/Hardware/Networking 2.2% 6,600 9,856 8,236 8,814
FinTech 1.7% 3,631 11,000 7,741 8,000
General Technology 5.0% 1,849 12,080 6,879 7,446
HealthTech 0.6% * * * *
Internet Services/E-Commerce 7.4% 2,302 12,000 8,478 9,203
Multimedia Products & Services 0.2% * * * *
Software 5.9% 3,500 11,000 7,834 8,480
Telecommunications Services 1.0% 7,000 9,182 8,556 9,000
Other Technology 0.6% * * * *
Other Telecommunications 0.2% * * * *
Transportation & Logistics Services 0.4% * * * *
1One percent of students reported accepting an unpaid summer internship.
2Data for sponsored students reporting summer internship details is included in this table.
3Six students reported accepting multiple internships.
*Reporting numbers insufficient to provide salary data.

Function - Internships

Monthly Salaries1 - by Function, Summer Interns, Class of 20202

Function Percent(%)3 Low($) High($) Average($) Median($)
Business Development 5.0% 2,000 14,000 6,576 5,900
Consulting 30.3% 2,400 14,583 11,687 13,100
Corporate Strategy/Strategic Planning 7.6% 1,667 12,080 7,391 7,650
Finance/Accounting 17.9% 1,666 13,600 8,469 8,638
Analyst/Research 1.0% 1,666 10,000 5,653 5,600
Corporate Development 0.8% 3,500 5,000 4,125 4,000
Corporate Finance 1.4% 7,400 8,650 8,175 8,000
Fundraising/Development 0.4% * * * *
General Finance 1.7% 1,850 10,000 6,773 7,400
Investment Banking 5.3% 10,417 13,333 12,228 12,500
Investment Management 1.7% 3,578 10,000 7,697 8,167
Mergers & Acquisitions within Company 1.0% 8,000 13,600 10,823 9,600
Private Client Services/Wealth Mgmt 0.2% * * * *
Private Equity 1.4% 1,680 10,337 5,923 5,600
Real Estate Development/Construction 0.4% * * * *
Real Estate Finance 0.4% * * * *
Venture Capital 0.8% 1,750 5,800 3,288 2,800
Other Finance 1.2% 2,000 9,000 5,332 4,247
Other Real Estate 0.2% * * * *
General Management 7.4% 2,200 13,500 8,072 8,167
Customer Relations 0.2% * * * *
General Management 4.4% 2,200 13,500 8,589 8,500
General Manufacturing 0.2% * * * *
Project Management 1.0% 2,400 10,500 6,292 7,000
Rotational/Development Program 1.2% 6,400 10,000 8,380 9,333
Service Operations 0.4% * * * *
Human Resources 0.6% * * * *
Marketing/Sales 13.3% 2,000 13,800 7,379 7,680
Brand Management 8.2% 2,400 13,800 7,776 7,680
Buyer/Merchandising 0.4% * * * *
General Marketing/Sales 2.5% 2,000 11,000 6,695 6,500
Merchandising/Retail 0.4% * * * *
Product Development 0.4% * * * *
Product Marketing Management 0.2% * * * *
Research/Consumer Insights 0.6% * * * *
Sales 0.2% * * * *
Other Marketing/Sales 0.4% * * * *
Operations/Logistics 1.6% 2,000 10,000 6,895 7,250
Operations/Production 1.0% 2,000 10,000 6,260 6,000
Purchasing 0.2% * * * *
Supply Chain/Logistics 0.4% * * * *
Other 3.2% 2,000 12,500 5,830 4,900
Administration 0.2% * * * *
Data Analytics/Data Science 0.6% * * * *
Economic Analysis/Research 0.4% * * * *
Entrepreneurship 0.4% * * * *
Other 1.6% 2,000 12,500 5,967 4,150
Technology 13.1% 1,849 12,000 8,178 8,500
Business Analysis and Design 1.6% 3,600 11,200 7,688 8,000
E-Commerce/Internet/Website Management 0.4% * * * *
General Technology 2.5% 1,849 9,208 7,804 8,480
Integration/Implementation 0.2% * * * *
Product Management 8.4% 4,000 12,000 8,442 8,814
1 1% of students reported accepting an unpaid summer internship.
2 Data for sponsored students reporting summer internship details is included in this table.
3 Six students reported accepting multiple internships.
* Reporting numbers insufficient to provide salary data.

Please note that the 2014, 2015, 2016, 2017, 2018 and 2019 Employment Reports only include data from the 1Y, MMM and 2Y programs. This differs from previous years’ employment reports, which included data from the 1Y, MMM, 2Y, JDMBA, MDMBA, E&W OCR and Sponsored populations. As a result, benchmarking these more recent reports against previous reports is not advised.

Past Employment Report Archive

2019, 2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011, 2010, 2009, 2008, 2007, 2006 and 2005
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Kellogg School of Management

Northwestern University
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