Since it was first founded in 1924, the Stephen M. Ross School of Business MBA program at the University of Michigan has evolved into one of the top programs in the country. Michigan Ross offers numerous options for pursuing an MBA, including a full-time MBA program, a part-time MBA program, an online MBA, an executive MBA, and a Global MBA. No matter which of these programs you enroll in, you will get to reap the advantages of studying at a school with a heavy focus on “action-based learning,” meaning you’ll have ample opportunities to “learn business by doing business.”
Located in Ann Arbor, the Michigan Ross campus is “a contemporary and collaborative learning community designed to inspire creativity, teamwork, and motivation.” This school is home to a community of “leaders, researchers, and lifelong learners creating innovative solutions to the world’s most complex business challenges.” If this sounds like the kind of place that you can see yourself fitting into, you may want to apply to join a future cohort at Michigan Ross.
Although there are many things to enjoy about being part of the Michigan Ross community, if you have been considering undertaking an MBA, the chances are good that it is not just for the mere enjoyment of the experience. For some business professionals, an MBA is an essential step to take for career advancement and success within the business world. All of the time and energy that goes into an MBA makes this endeavour a big commitment, but it is worth it due to the long-term payoffs that you can enjoy post-graduation.
The Michigan Ross MBA Employment Report for their most recent graduating class is solid proof that such a substantial commitment does, in fact, translate into significant rewards. If you’re interested in taking a more detailed look at the Ross MBA Employment Report and learning more about all that Ross has to offer — read on.
Why Apply to the Ross MBA program?
A Flexible Curriculum
Michigan Ross has a flexible curriculum that allows you to “[d]evelop a foundation of business fundamentals in core courses, build your expertise in electives, and see how well you really know the material by applying it to real business challenges.” In the first year of your MBA, you will start building a foundation for your learning by studying fundamentals within the business realm such as financial accounting, corporate strategies, marketing management, and operations management.
During your second year, you may continue to broaden your multifaceted understanding of business by customizing your curriculum and building your schedule out of elective courses that interest you. Michigan Ross has a vast array of elective course options, covering various of topics ranging from integrated product development, to mergers, acquisitions and corporate development, to entrepreneurial turnaround management. No matter where your niche interests lie within the business world, you’ll find numerous courses to entertain your desire to further your knowledge and expertise.
A World-Class Faculty
Michigan Ross’ faculty is comprised of world-class professors that are “are impactful teachers and top researchers who know how to put ideas into action.” At Michigan Ross, “you’ll be inspired by the knowledge, intellect, and experience of some of the top minds in the business world.” Michigan Ross’ diverse faculty members are specialists in a wide variety of subject areas ranging from business law to social impact to technology and operations. The school’s faculty members manage to provide attention and direction to all students while also consistently conducting ground-breaking research, which “bridge[s] theory and practice.”
Centers, Institutes and Initiatives
There are numerous chances to “amplify your MBA experience” through one of the many leadership, research, and innovation opportunities offered through Michigan Ross’ twenty-one centers, institutes and initiatives. The Sanger Leadership Center, for example, “organizes learning communities, challenges, and workshops to develop leaders who make a positive difference.”
Alternatively, the Erb Institute “fosters sustainability in business through research, teaching and engagement.” There are all kinds of ways to pursue your passion outside of the core MBA track, “whether you’re curious about sustainability in business, researching emerging-market economies or tackling complex social challenges.”
Extracurricular Opportunities
Michigan Ross’ campus is also home to more than 70 student clubs, so “you can find plenty of opportunities to lead your peers and grow your network as you dial into a business topic you’re passionate about.” Clubs at Michigan Ross “range from impact-driven to completely career-focused,” but each of them provides invaluable networking opportunities amongst peers.
Whether you decide to join the Asian Consortium for Economic Development (ACED), the Community Consulting Club (CCC), the Smart Cities Club, or one of the many other clubs that exist at Michigan Ross, engaging with peers during these extracurricular engagements is undoubtedly an excellent way to access and engage with a vast network of diverse perspectives.
What is Ross known for?
Ross Experiences in Action-Based Learning (REAL)
Michigan Ross claims to have “changed the landscape of business education” when they first began implementing the Ross Experiences in Action-Based Learning (REAL) model roughly 25 years ago, which has remained their primary focus to this day. Ross firmly believes that thanks to this innovative program they have developed, no other school can match the opportunities that their students have “to start, advise, lead, and invest in real-world businesses.” The REAL program is centred around the notion that the varied complexities of the business world must be learned through actual experiences within it rather than through traditional theoretical approaches.
This notion is put into practice throughout the entirety of the MBA experience at Michigan Ross, as students may take advantage of various opportunities that allow them to learn through hands-on experiences. The REAL program can be divided into four main categories, which each contain specialized courses, as well as co-curricular opportunities.
REAL.START allows students to “develop a new business based on an original idea with the intent of achieving economic viability.” REAL.ADVISE encourages students to form teams that will “consult with a real-world organization on a pressing issue of strategic importance, providing substantive analysis and recommendations.” REAL.INVEST requires that students “manage eight focused investment funds, totalling more than $10 million in assets, in all aspects of their operations.” REAL.LEAD lets students “assume functional responsibility for leading and operating an ongoing business concern, working with established corporate partners.”
Multidisciplinary Action Projects (MAP)
Another unique feature of the Michigan Ross MBA tied to experiential learning is the Multidisciplinary Action Projects (MAP). MAP is “a field study program in which teams of students apply structured problem-solving techniques to analyze multidisciplinary business problems or opportunities and make recommendations for improvements.” At the end of your first year, you can bid on MAP project contracts.
The 100+ projects offered within the MAP program are all aimed at helping students to learn “how businesses apply and integrate multiple functions and gain an appreciation of the value of teamwork through an intense hands-on project at a sponsoring company.” Students form teams, and each team works under the guidance of a group of faculty members with diverse backgrounds in varied areas of specialty.
Commitment to Diversity, Equity and Inclusivity (DEI)
Michigan Ross is also widely known for its commitment to diversity and inclusivity. This is a school that “not only welcomes diversity but thrives on it.” Both faculty members and students alike are expected to maintain “a culture in which [the school] community is challenged and inspired through diverse perspectives” because it is believed that their students’ strength comes from their differences. This valuation of diversity, equity, and inclusion extends both inside and outside the classroom at Michigan Ross and helps lead to greater innovation.
In 2015, Michigan Ross launched a five-year Diversity, Equity, and Inclusion (DEI) plan to encourage “a cohesive culture where every voice counts.” The first goal of this strategic plan is to “[increase] diversity, which is expressed in myriad forms, including race and ethnicity, gender and gender identity, sexual orientation, socio-economic status, language, culture, national origin, religious commitments, age, (dis)ability status, and political perspective.” The plan is also focused on “working actively to challenge and respond to bias, harassment, and discrimination.”
Lastly, the plan represents a commitment to “pursuing deliberate efforts to ensure that [the] campus is a place where differences are welcomed, different perspectives are respectfully heard and where every individual feels a sense of belonging and inclusion.” Since its inception, the DEI plan has led to multiple initiatives targeted at furthering DEI principles. These initiatives are led by student groups, such as the Diversify Ross Leadership Team and the DEI curriculum task force.
The Ross Commitment to Action is a prime example of the school’s dedication to inclusivity and parallel stance against exclusivity. This commitment, which was initiated by the school’s Black Business Student Association in collaboration with the school’s dean, Scott DeRue, serves “as a roadmap for shared accountability,” aimed at helping the school community to “come together and identify actions [they] can take to create real and lasting change,” in the fight against systemic racism and racially motivated violence. This commitment represents one branch of a larger, ongoing pledge to fight all forms of discrimination, racism, bias, and prejudice at Michigan Ross and beyond.
Who is Ross looking for?
An Embodiment of Core Values
Like most business schools, Michigan Ross takes a holistic approach to review applications. However, the school has many core values that it stands by, and the admissions committee primarily seeks prospective students who will uphold these guiding principles. Michigan Ross values those who have the ability to connect and collaborate, the willingness to learn and grow, and the ambition to do great things.
The admissions committee also places the utmost importance on taking ownership and being inclusive. Michigan Ross is “committed to building a better world through business,” and prides itself on maintaining a community of purpose-driven leaders with powerful ideas geared towards making a positive impact. Thus, if making a positive difference in the world is something you’ve always wanted to take part in, demonstrating this aspiration through your application may be the best way to land yourself a spot in one of Ross’ future cohorts.
Class Profile
Michigan Ross’ most recent full-time cohort is made up of 358 students. Of these students, 43% are women, and 18% of the cohort is made up of international students, who represent 28 different countries. The average background work experience for this cohort is five years.
The industry backgrounds that are represented within this cohort are quite varied. The class profile states that 22% of students have a consulting background, making it the most common industry background represented in this cohort. Other industry backgrounds are represented as follows: 13% of the students have worked in finance, 10% have worked in technology, and 9% have worked in healthcare.
Some of the industries with lower representation amongst this cohort are consumer goods, transportation and retail. The majority of the cohort, at 42%, majored in business during their undergraduate studies, while 35% majored in STEM subjects, and 23% majored in humanities.
Those admitted into Michigan Ross’ most recent full-time cohort had an average GPA of 3.5. The average GMAT score for these students was 710. The average GRE scores were 153-167 for quantitative and 153-167 for verbal.
In-Depth Look at the Ross MBA Employment Report
Challenging Times
Like all MBAs graduating this past year, Michigan Ross’ most recent graduating class was faced with economic hardship. As a result, these students were forced to enter the job market at a time that can be defined by an overwhelming sense of uncertainty.
Since many companies put an indefinite pause on their hiring due to impending economic shift, many of Michigan Ross’ newest graduates were unsure of what to expect in terms of job prospects. That being said, the Ross MBA Employment report reveals that most graduates managed to demonstrate a great degree of perseverance during this trying time, and a majority of the class still managed to secure jobs within a short time frame despite the bleak job market.
Offers & Acceptances
A comparison of the percentage of job offers received by students between this employment report and the previous one reveals that there was indeed a significant drop in job availability. The previous year, 92% of Michigan Ross’ graduates had received a job offer by graduation, and 97.2% of them had received an offer within the first three months after graduating. On the other hand, only 83.1% of the most recent graduating class reported receiving a job offer by graduation, and 90.3% reported having received a job offer by the ninety-day mark after graduation.
As far as jobs accepted go, Michigan Ross’ previous graduating class managed to set a school record since 96% of graduates had accepted a job within the first three months after graduation. This past year, however, only 88.4% of Michigan Ross’s graduates had accepted a job within the first ninety days after graduation, which represents a 7.6% drop. Despite the fact that there was a slight drop in overall offers and acceptances, these impressive statistics prove that, even during a slump year, the chances of Michigan Ross MBA graduates finding employment shortly after graduating are still quite high.
Salary Breakdown
Even though jobs may have been slightly harder to come by for Michigan Ross’s most recent graduating class, the starting salaries that they managed to secure were nothing short of impressive. As reported by the Ross MBA Employment Report, the median salary reported by the most recent graduating class was $135,000, which represents a $6,000 increase from the previous year. The average signing bonus also represented an increase, coming up from $25,000 the previous year to $30,000. This makes the overall median salary $165,000, roughly 6.7% higher than the previous year.
Sector Breakdown
Once again, consulting was the most popular industry for Michigan Ross graduates, and more than 35% of the class managed to secure jobs within this sector. Those who managed to secure employment within this industry reported salaries ranging from $73,889 to $170,000, with a median salary of $160,000. This represents a 6.25% increase from the previous year’s median salary in this industry, which was $150,000. For those heading into this industry, 98.1% received a sign-on bonus, and the median bonus that they received matched the overall median at $30,000.
The percentage of graduates heading into the tech industry saw a slight increase, with 24.5% securing jobs related to this field, 3.5% more than the previous year. Salaries ranging from $96,000 to $194,000 were reported for the tech industry, with a median of $130,000. This represents a 5.65% increase from the previous year when the median salary for tech was $122,650. 80.6% of those heading into this industry received a sign-on bonus, with a median bonus of $40,000.
Financial services saw a slight drop in popularity, going from 15.1% the previous year to 11.9% this past year, although the median starting salary for this sector remained unchanged, at $150,000. Manufacturing also dropped, from 8.9% to 4.4%, and the median starting salary changed only slightly, from $120,000 to $123,500. However, most other sectors wavered only slightly. The least popular industry was transportation and logistics, which is no different from the previous year.
According to the Ross MBA Employment Report, Amazon was the largest employer for Michigan Ross’ most recent graduating class. Twenty-six graduates were hired full-time by Amazon, and another 22 managed to secure internships at this leading tech firm. EY, Boston Consulting Group, McKinsey & Co., Deloitte, Microsoft and Google were other companies where Michigan Ross’ most recent graduates were largely successful at finding jobs.
Summer Internships
With regards to summer internships, the Ross MBA Employment Report states that the tech industry was most popular, with 23% of the most recent graduating class securing internships within this domain. The median salary for those accepting tech internships was $97,356.
Consulting followed closely, with 22% of the students accepting internship offers in this sector. Consulting internships were reported to have a median salary of $150,000. An increased interest in finance also took place this past year since more than 16% of the class took internships in this sector. The median salary for these interns was reported to be $138,456. The majority of these internships were related to investment banking, private equity, and venture capital.
FAQs
1. What are the admission requirements for applying to Michigan Ross’s full-time MBA program?
All applicants must submit academic transcripts for all undergraduate or graduate institutions that they have attended, standardized test scores (GMAT, GRE, MCAT, LSAT, PCAT, or DAT are all accepted), a professional business resume, one letter of recommendation, and answers to both essay questions (one short answer prompt, and one career goal essay).
International applicants must also submit scores from an English proficiency exam such as IELTS, TOEFL, or PTE and must get their transcripts officially translated. Interviews are conducted on an invitation-only basis once the admissions committee has reviewed your initial application.
2. What is the minimum GMAT/GRE score required for admission to Michigan Ross’ full-time MBA program?
There are no minimum score requirements for either exam or any other standardized test score that Michigan Ross accepts. Standardized test scores are just one of many factors when your candidacy for the MBA program is being considered. Michigan Ross encourages everyone to apply, regardless of their test scores; however, you may want to consider retaking the exam if you are concerned about your scores.
3. How much work experience do I need to be able to apply for Michigan Ross’ full-time MBA?
Michigan Ross does not have a specific number of years of work experience that they require all applicants to have before applying. However, most Michigan Ross students have at least two years of work experience by the time that they start the program, and the average Michigan Ross student enters the program with five years of work experience.
4. How can I connect with students or alumni from Michigan Ross to learn more about what life is like on campus?
If you’re interested in connecting with current students or alumni from Michigan Ross, the school has an extensive list of student ambassador profiles that you can connect with on their website . You can read through the personal stories that these students have posted about their experiences at Michigan Ross, and you can also reach out to them using their personal email addresses, which are linked to each of their profiles on the site.
5. Can I access and compare Ross MBA Employment Reports from previous years?
Unfortunately, Michigan Ross only has their most recent employment report posted on their website. However, if you seek information about Michigan Ross’ past employment reports, this may be found on the Poets & Quants website.
6. What is the most popular industry that Michigan Ross graduates enter after graduation?
Michigan Ross graduates have been historically successful at finding jobs within the consulting and tech sectors. For Michigan Ross’ most recent graduating class, 35.7% of students went into consulting, and 24.5% went into tech.
Conclusion
Michigan Ross is a fantastic place to undertake an MBA, especially if you value diversity and inclusivity and are interested in experience-focused learning. No matter which of the MBA program options you decide to go with, you will have access to a top-quality curriculum, faculty, and campus. There is something for everyone at Michigan Ross, and the possibilities for both personal and professional growth are endless if you decide to pursue an MBA here.
A detailed look at the Ross MBA Employment Report reveals that this school is definitely an excellent option if you are eager to work in consulting or technology. However, even if these aren’t sectors that you’re particularly interested in, an MBA earned at Michigan Ross still holds tremendous value, and this year’s employment report backs that up.
Despite the unfortunate circumstances surrounding the most recent employment report, over 88% of graduates still managed to secure jobs at top companies across the country within the first three months after graduation. On top of this, the Ross MBA Employment Report states that graduates managed to land starting salaries even higher than the previous year, with some students even receiving salaries that reached as high as $194,000.
So, if you’re interested in achieving the same kind of success as demonstrated in the employment report, and you want to pursue an MBA at a well-rounded school that’s going to help get you to that point, Michigan Ross might be for you. Follow the guides outlined in this article, and apply to become part of a future cohort at this exceptional business school.
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