Transformative effect of Cambridge MBA continues with 95 per cent switching either country, job function or industry sector.
The latest Cambridge MBA employment report, just published, has revealed that 95 per cent of job seekers from the 2016/17 class made a switch of either country, job function or industry sector in their post-MBA employment, with 36 per cent switching all three.
The annual report details the outcomes of the graduating MBA class of 2016/17, with 92 per cent of job seekers receiving job offers three months out. Eight per cent of the class have taken an entrepreneurial path and chosen to start their own business.
The upward trend in salary for Cambridge MBA graduates continues, with the average package for an MBA 2016/17 graduate of £104,452, representing a post-MBA salary uplift of 46 per cent.
Mobility after the MBA for graduates is strong, with alumni from the MBA 2016/17 class now working in 26 different countries around the world. 42 per cent of those surveyed also chose to remain and work in the UK.
Margaret O’Neill, Head of Admissions and Careers for the Cambridge MBA, says: “Though the salary figures are gratifying, fewer than four per cent of our MBA 2016 respondents cited compensation as a key motivator for choosing their new role; challenge, growth, opportunity, environment, cultural fit and impact were most often mentioned as drivers of their choices.”
This is reflected in the diversity of employers that Cambridge MBAs choose to work for, with the most popular global employers of the class post-MBA including: Amazon, DAZN, Deloitte, Google, Microsoft, McKinsey & Company, and Strategy&.
Margaret continues: “The School’s unique place at the heart of the University of Cambridge and the most successful technology cluster in Europe provides unrivalled opportunities for networking and learning. We are delighted that our demanding, innovative and experiential MBA programme has allowed the class of MBA 2016 to develop the skills, experience and network they needed to achieve their goals.”
As part of the Cambridge MBA, students undertake a career development programme alongside their studies, during which they work closely with the MBA Careers team to create a personalised plan based on career aspirations. The programme includes practical workshops, coaching, as well as recruitment and networking events with employers.
Tom Stanley, a former engineer from New Zealand, now working for Citibank in London switched location, function and industry, transitioning into finance:
“As an engineer, numbers and finance had always interested me, and the Cambridge MBA served as the perfect incubator for this interest. Further interaction with the wider university network and the Careers Team prepared me for, and inspired me towards, the so-called career ‘triple jump’.”
Monisicha Pongrujikorn from Thailand, used her MBA experience to move industry:
“The Cambridge MBA made a real difference to my ability to transition into my new in-house role at a Fortune 500 company in a different industry. From incorporating Lean Six Sigma to understanding team dynamics in a project team, to communicating and negotiating with senior executives, the Cambridge MBA helped me to adapt to these new situations with confidence, allowing me to focus most of my efforts in learning about the new industry.”
You can find out more about the careers of Cambridge MBA graduates and others from the wider Cambridge Judge Business School network by listening to Cambridge MBA Executive Director, Conrad Chua’s podcast.