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Release: Sept. 9, 1999

Over 90 percent of UI business students placed in jobs after graduation

IOWA CITY, Iowa — Over 90 percent of recent University of Iowa Master of Business Administration and undergraduate business students were placed in jobs after graduation, with finance, management information systems and accounting grads earning the top starting salaries.

According to UI MBA Career Services, 91 percent of UI MBA 1999 grads had offers at graduation and 82 percent had committed to jobs at graduation. The statistics were compiled from a survey of 76 members of the 1999 MBA class.

Deanna Hurst, director of the UI Business and Liberal Arts Placement Office (BLAPO), said 94 percent of December 1998 undergraduate business majors were placed in jobs. BLAPO statistics come from a six-month follow-up survey of 193 graduates with bachelors of business or liberal arts economic degrees.

Kathie Decker, director of MBA Career Services, said the job market for MBAs remains strong, with recruiters already looking for May 2000 MBA grads. The average starting salary for a May 1999 graduate of the UI MBA program was $65,960, up 7 percent. The average signing bonus $9,062, a 17 percent increase from 1998.

Over half of the MBA grads went into finance or investment positions, which paid an average of $67,603 per year. MBA students with management information systems concentrations were also in demand, earning an average of $66,800.

Hurst said MIS grads with bachelor's degrees earned an average starting salary of $43,800. Accounting was also a top field for UI undergrads, with the average starting salary at $38,400 in 1998-99, up 14.6 percent from 1997-98. Signing bonuses for accounting grads averaged $2,400 and were reported by 44 percent of the students.

"These signing bonuses are usually unheard of for accounting grads, and are usually offered for MBAs or high-tech and engineering grads," Hurst said. She attributed the salary increases to competition among accounting firms for talented employees.

Employers seeking UI undergrads tended to be mostly from the Midwest. According to the BLAPO survey, 36 percent of business graduates had offers from Iowa firms, 35 percent from Illinois and 12 percent from other Midwest states.

For more information, contact Hurst at (319) 335-1023 or Decker at (319) 335-1021.

(Editor's note: complete BLAPO and MBA placement reports are available by request.)