As the Class of 2019 prepares to enter into the workforce, here is a look at the employment statistics from the Class of 2018, according to the Career Services Office.
Consulting, finance, and technology have consistently been ranked as the top three industries for Penn graduates throughout the past eight years of Career Services reports.
While students pursuing finance decreased over the years, the share of students working in the technology sector has doubled since 2011, jumping from 7% to 14%. The percentage of graduates employed in consulting remained relatively steady over the years, fluctuating within a 16 to 20 percent range.
Compared to numbers from 2017, the amount of students hired by Google and Microsoft both decreased. Employment, however, has increased steadily over the years at Google for Penn grads. In 2014, 14 students were employed. In 2018, 22 were hired.
Career Services did not report the number of students hired by Amazon and IBM for 2018, and Barbara Hewitt, executive director of Career Services, said it is likely because both companies did not hire more than 12 students, the minimum number to stay on Penn's Top Employers list. In years in which there is data, both companies have been hiring more Penn graduates since 2011. While Penn graduates employed by both companies was only in single-digits in 2011, the number rose to about 20 in 2017.
Hewitt said the numbers employed by different companies can fluctuate from year to year, but employment across industries remains relatively stable.
The preliminary Career Services report for the Class of 2018 in the College of Arts and Sciences indicated that the average salary was $63,889.
Among some of the top employers of the Class of 2018 are Boston Consulting Group and Walmart's eCommerce department, hiring 16 and 20 graduated seniors, respectively.
Within the finance sector, JP Morgan Chase & Co., Morgan Stanley, and Goldman Sachs were the top employers, respectively hiring 12, 11, and eight graduated seniors.
Among the four undergraduate schools, Engineering students earned the most after graduation with an average salary of $92,284, an increase of about 1.5% from 2017 and also the highest in history.
Nursing students similarly saw an increase in their salaries. In 2017, the average salary was $63,986. In 2018, it was $69,692, an almost 9% increase and the highest in history.
Wharton students saw almost no change in average salary this year ($80,354) compared to 2017 ($80,566).
For Wharton students, Goldman Sachs, JP Morgan, and McKinsey & Company were the top employers, respectively hiring 20, 18, and 18 graduated seniors.
Hiring timelines can differ between different industries, Hewitt said. While the finance industry hires early and many seniors get their return offer after their junior internship, non-profit or advertising companies hire when positions are open and seniors can work immediately, Hewitt added. For those in non-finance industries, it is normal to not have a job until senior spring or after graduation.
The Career Services Office is open throughout the summer, and Hewitt said students are welcome to schedule sessions with the office to discuss career plans through the phone or via Skype.
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