The Wharton School – A Complete Guide

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The Wharton School of the University of Pennsylvania is a well-known business school in Philadelphia. It has a long history of imparting world-class business education to its students which makes them highly skilled and ready for the job market which is an impressive track record.

If you’re wondering if Wharton’s MBA program is the right step for your career, you’re in the right place. This article will look at the class profile of 2024 and employment data of Wharton’s class of 2022, such as the top industries, job locations, post-MBA employers, and median salaries.

This article will offer employment data for Wharton’s full-time MBA class of 2022, using a combination of data from the Wharton School and our own examination of job outcomes for Wharton MBA grads.

Wharton MBA

General information on Wharton

Location – 3733 Spruce Street

Philadelphia, PA 19104

Dean – Erika H. James

Admissions Office – Office of MBA Admissions and Financial Aid, The Wharton School, University of Pennsylvania, Vance Hall, Suite 111, 3733 Spruce Street, Philadelphia, PA 19104

Phone: +215-898-6183

Fax: +215-898-0120

Email: mba-admiss@wharton.upenn.edu

Social media – Facebook, Twitter, YouTube, Instagram, LinkedIn

Wharton MBA – By the numbers

Here are a few important statistics for the latest class i.e. class of 2024 of the Wharton

Applications Received6319
Class Size877
Average GMAT Score733
GMAT Range530-790
Median GRE Score324
GRE Range289-340
Average GPA3.60
Work Experience (Average)5 years
Tuition Cost for a Single Person$73,440
Percentage of students that received a job offer95%
Median Base Salary$175,000
Median Signing Bonus$30,000
Median Performance Bonus$30,000

Now, let’s take a look in detail at the latest incoming class i.e., the class of 2024 of The Wharton School.

Wharton MBA class profile 2024

Enrollment

A total of 6,319 people applied to be a part of the Wharton class of 2024. However, Wharton gave a chance to 13.8% of the applicants and 877 students enrolled.

  • Applications Received by Wharton – 6,319
  • Total Enrolled – 877
  • Enrollment rate – 13.8%

Diversity

Business Schools care a lot about maintaining diversity in the class and Wharton has done a great job to achieve it in the class of 2024. Half (50%) of the Wharton class of 2024 is female and 35% of students are foreign-born and belong to 77 countries.

  • % women in the Wharton class of 2024 – 50%
  • % international students in the Wharton class of 2024 – 35%

Test Scores and GPA

Wharton is home to some of the brightest minds in the world. So, it’s quite understandable that the GPA and test scores will be on the higher side. The average GPA of the Wharton class of 2024 is 3.6, the average GMAT score is 733, and the average GRE score is 324.

Average GPA – 3.6

GMAT Score

  • Average GMAT – 733
  • GMAT Range: 530-790

GRE Score

  • Average GRE – 324
  • GRE Range – 289-340

Undergraduate Major

The highest number of Wharton class of 2024 students have a background in STEM programs (34%) and Humanities (34%) followed by Business (32%).

Wharton MBA undergraduate major

More details are in the table below:

Undergraduate MajorPercentage of Wharton class of 2024
STEM34%
Humanities34%
Business32%

Pre-MBA industry of Wharton MBA class of 2024

Every student in the Wharton class of 2024 has some work experience. The average work experience is 5 years. 27% of the Wharton class of 2024 has a background in Consulting followed by Technology (12%) and Non-Profit (12%).

More details are in the table below:

Pre-MBA industry% of Wharton class of 2024
Consulting27%
Technology12%
Nonprofit/Government12%
Venture Capital/Private Equity9%
Other9%
Investment Baking8%
Investment Management7%
Financial Services5%
Health Care5%
Energy2%
Media/Entertainment2%
CPG2%
Retail1%

MBA Application Deadlines

The application dates for the MBA Class of 2025 (incoming class of 2023) are

Application RoundDeadlineDecisions
Round 1Sep 7, 2022Dec 15, 2022
Round 2Jan 4, 2023Mar 23, 2023
Round 3Mar 29, 2023May 10, 2023
Deferred AdmissionsApr 26, 2023Jun 29, 2023

Now that you know the education and industry background of the latest class of Wharton, you must have an idea of where you stand compared to them. To get into Wharton try to match or exceed these numbers. Now, let’s take a look at the compensation that Wharton MBA students get after they graduate.

Wharton MBA employment statistics - Class of 2022

The Wharton class of 2022 received a median base salary of $175,000.

Here are the details:

  • Median Base Salary - $175,000
  • 98.7% received an offer within 3 months of graduating

Employment by Industry

26% of the Wharton MBA class of 2022 found employment in consulting followed by 19% in Technology, and 15% in Private Equity.

More details are in the below table.

Industry% Wharton class of 2024 hiredMedian Salary
Consulting24.3175,000
Consumer Products1.6120,000
Energy1150,000
Hedge Funds/Other Investments2175,000
Insurance & Diversified Services1.8162,000
Investment Banking/Brokerage11.7175,000
Investment Management6.4170,559
Private Equity/Buyouts/Other12.6175,000
Venture Capital4.1150,000
FinTech2.3155,000
Health Care5.6160,000
Manufacturing1.3155,000
Media, Entertainment & Sports1.3150,000
Real Estate2.3147,500
Retail2.5147,500
Social Impact1.3135,000
Technology16.9153,500
Others1%NA

Employment by function

32.3% of the Wharton MBA class of 2022 found employment in Consulting, followed by 16% in PE/VC, and 11% in Investment Banking.

More details are below.

Function% Wharton class of 2024 hiredMedian Salary
Business Development5.9$160,500
Consulting/Strategy32.3$175,000
Corporate Finance (Analysis/Treasury)1.1$155,000
Entrepreneurial Management1$162,500
General/Project Mgmt/Mgmt Development5.7$160,000
Human Capital0.7$135,500
Investment Banking11.2$175,000
Investment Management/Portfolio Mgmt6.7$170,000
Operations/Production Management/Supply Chain2.5$165,000
Private Equity/Venture Capital - Investor16.1$175,000
Product/Brand Marketing3.8$126,500
Product Management7.7$160,000
Real Estate2.5$150,000
Sales0.7$150,000
Others2.1NA

Employment by Location

Majority (95.2%) of the Wharton MBA class of 2022 found employment in the United States. A mere 4.8% chose to work outside the US. In the US, 43.1% found jobs in the North East and 24.5% in the West.

More details are below.

Location

  • United States - 95.2%
  • International - 4.8%

United States

  • Mid-Atlantic - 9.6%
  • Midwest - 3.5%
  • Northeast - 43.1%
  • South - 4.7%
  • Southwest - 6.2%
  • West - 24.5%

International

  • Asia - 2.8%
  • Canada - 0.7%
  • Europe - 1%

Salaries by location

United States$175,000
Mid-Atlantic175,000
Midwest175,500
Northeast175,000
South170,000
Southwest175,000
West170,000
International$152,000
Asia152,000
Europe134,787

Wharton MBA - Cost of Attendance

FIRST-YEAR BUDGET, 2022-2023
Tuition, and Fees (Includes $2000 Pre-Term Fee)84874
Room and Board22887
Books, Supplies, Misc.6778
Health Insurance*4029
Total118568
SECOND-YEAR BUDGET, 2022-2023
Tuition and Fees82874
Room and Board22887
Books, Supplies, Misc.6778
Health Insurance*4029
Total116568

Wharton MBA Scholarships

Thanks to the generosity of individuals, companies, and foundations, as well as the Wharton School itself, Wharton offers a wide range of fellowships to many of its best students.

All students who are accepted are considered for a Wharton Fellowship based on their application for admission. Fellowships are given to people who have unique personal qualities and backgrounds, have done well in school, have grown professionally, and have been active in their communities.

  • Awards are listed in the letter about admission and financial aid.
  • Fellowships are awards that last two years and are spread out over four semesters for an MBA student.
  • The Wharton Fellowship Committee does not offer a reconsideration of fellowship support.

Joseph Wharton Fellowships

Joseph Wharton Fellowships are named in honor of Joseph Wharton, the founder of the Wharton School. These fellowships are awarded to students with outstanding records of academic, personal, and professional achievements.

Howard E. Mitchell Fellowships

Established in 1992, in honor of former Wharton professor Howard E. Mitchell, WG ’51, this fellowship is awarded to traditionally underrepresented domestic populations, specifically Black/African American, Latino/Hispanic, Native American/American Indian or Alaskan Native, and Native Hawaiian/Asian Pacific Islander to provide financial support to graduate students of color, based on proven leadership, academic excellence, work experience, and/or demonstrated commitment to empowering traditionally underrepresented groups. Each year, a cohort of students receives full tuition, engages in leadership programming, and joins a large network of other Mitchell Fellows and alumni.

Emerging Economy Fellowships

Emerging Economy Fellowships are offered to support students from emerging economies throughout the world.

Forté Fellowships

Forte Fellowships are awarded each year to outstanding students who demonstrate exemplary leadership academically, professionally, or creatively, as well as a proven commitment to the empowerment of women in education or the workplace.

ROMBA Fellowship

The ROMBA LGBT+ Fellowship is a joint effort between The Wharton MBA Program and Reaching Out to develop the out LGBT+ and active ally business leaders of tomorrow. Each Fellow receives a minimum $20,000 scholarship and access to exclusive leadership programming including an all-expenses-paid retreat.

Prism Fellowship

The Wharton Prism Fellowship will cover full Wharton tuition over the recipient’s time in the Wharton MBA program. This fellowship is awarded to one student who is a member of and demonstrates leadership in support of the LGBTQIA community.

Social Impact Fellowships

Social Impact Fellowships are offered to students with demonstrated leadership in the public and/or not-for-profit sectors.

The Chapman Taylor Family MBA Fellowship

The purpose of the Chapman Taylor Family MBA fellowship is to provide financial support to graduate student or students in the Wharton School with a preference for students who have served as a Peace Corps volunteers.

Corporate and Foundation Fellowships

The following select list of corporations and foundations are fellowship supporters of named Wharton MBA fellowships:

  • Alcoa Inc.
  • American Express Philanthropic Program
  • Bain & Company, Inc.
  • Bank of America Corporation
  • Bechtel Foundation
  • Citigroup Foundation
  • Credit Suisse
  • Daimler Chrysler Corporation Fund
  • Deutsche Bank
  • Exxon Mobil Corporation
  • Ford Motor Company Fund
  • General Mills, Inc.
  • General Motors Foundation
  • The Goldman Sachs Group, Inc.
  • Merrill Lynch & Co., Inc.
  • New America Alliance Institute
  • Pension Real Estate Association
  • Robert A. Toigo Foundation
  • Robert R. Nathan Memorial Foundation

Wharton Fellowships for Current Students

Throughout your time in the MBA Program, additional fellowship options become available to students in multiple areas. These have their own distinct application process, award amounts, and criteria.

2nd Year Financial Aid Awards

Established to provide additional financial support to Wharton MBA students in their second year of the MBA Program. The fellowship support will be determined by the Wharton Fellowship Committee based on submitted application and a review of existing loan balances, prior fellowships, and other support received.

Academic Fellowships

  • Ford Fellowship – First year, best student
  • Academic Excellence Fellowship – Terms 2 and 3, best student
  • Inselbag Fellowship – First year (Top 5% eligible)
  • McGowan Fellowship – First year (Top 5% eligible)
  • Director’s List Fellowship – Each semester (Top 10% eligible)
  • Dr. Bruce I. Jacobs Scholars in Quantitative Finance – Second-year, exceptional students in Quantitative Finance Major

Entrepreneurial Awards and Fellowships

  • Penn Wharton Innovation Fund
  • Summer Venture Award
  • Startup Internship Award
  • Edward B Shills / Leonard L Zeidman Fellowship

Leadership Fellowships

  • Behrman Family Fellowships (3) in demonstrated leadership and financial need.
  • Recipient selection process maintained within Leadership Program.

Real Estate Fellowships

Samuel Zell and Robert Lurie Real Estate Center Awards: Committed to excellence in education, the Center awards fellowships and scholarships to promising real estate students.

Whitney M Young Fellowship

Second-year, active member of the AAMBAA community who has demonstrated academic excellence and made outstanding contributions to the achievement of excellence by people of color in the Wharton, University of Pennsylvania and/or greater business communities.

Toigo Fellowships

The Toigo MBA Fellowship provides minority MBA candidates committed to careers in finance with an unmatched network of contacts, a prestigious point of difference in the eyes of employers, one-on-one career guidance, leadership training, a merit award—and more.

Final Thoughts

Getting an MBA from Wharton is a dream for most MBA applicants. Wharton is one of the best business schools in the world, so getting into it can be hard. Even though there is no foolproof method to ensure admission to Wharton, you can improve your chances significantly by working diligently on your application. We can help you get into Wharton. Our consultants include Wharton alumni who will give you the most accurate advice and guidance you’ll need to get into Wharton. So, get started now.

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