Michigan Ross’s 2024 OMBA grads reported a 4.7% salary increase over their 2023 predecessors
If you’re on the fence about whether an online MBA is worth the investment, the University of Michigan offers some firm answers to your questions in its newly released employment report data.
Michigan’s Ross School of Business released its OMBA Class of 2024 data this week showing that 100% of reporting graduates received a promotion and/or pivoted to a new industry or function within four months of graduation, 64% received a promotion between starting and finishing the program, and 71% switched industry or function by the time they finished the program. The mean salary was $146,000, up 4.7% from the Class of 2023.
“Online MBA students come to Michigan Ross with great work experience, and we work with them to build off of that experience to help them succeed in the next stage of their career,” says Heather Byrne, managing director of the Career Development Office. “Whether that’s advancing into a higher leadership position at their current company, moving to a different company in their field, or pivoting to an entirely different industry, our coaches provide the personalized support and resources they need to achieve their professional goals. This report demonstrates our graduates’ success in leveraging their backgrounds and their Michigan Ross degree.”
| INDUSTRY | % | BASE SALARY MEAN | BASE SALARY MEDIAN | LOW BASE SALARY | HIGH BASE SALARY |
| Consulting | 13.3% | $167,410 | $170,000 | $109,507 | $225,000 |
| Consumer Packaged Goods | 6.0% | $140,333 | $144,000 | $112,000 | $165,000 |
| Energy | 3.6% | $146,021 | $142,062 | $91,000 | $205,000 |
| Financial Services | 4.8% | $118,667 | $130,000 | $86,000 | $140,000 |
| Healthcare | 13.3% | $173,303 | $152,275 | $132,455 | $236,000 |
| Manufacturing | 19.3% | $124,143 | $119,000 | $83,000 | $230,000 |
| Technology | 21.7% | $151,193 | $157,302 | $91,000 | $197,196 |
| Other | 18.1% | $128,970 | $130,000 | $80,000 | $165,000 |
| Total/Average | 100.0% | $146,418 | $142,000 | $80,000 | $236,000 |
The Michigan Ross Online MBA Program is ranked No. 2 by Poets&Quants in 2025 and No. 6 by U.S. News and World Report in 2025. In our ranking, it was fourth in 2023 and 2022 before moving up to a tie for 2nd with Indiana Kelley School of Business in 2024.
Of the 57 credits required in the Ross OMBA program, 17 are reserved for electives for OMBA students to explore their interests and goals. Of those electives, the most popular options include Healthcare Markets & Public Policies, Managing the OMBA Fund, Leading Diverse Teams & Organizations: A DEI Toolkit, Strategies for Growth, and Communicating in a Virtual World.
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While the program is online, it has an in-person component where students attend three of four offered residencies (9 credits) — a highlight of the program. They span Thursday-Sunday at Ross’s Ann Arbor campus, or in varying global cities. Options include the Business Leadership Residency, the Business Transformation Residency, Business Innovation Residency, and the Global Business Strategy Residency.
Another highlight of the program is the Multidisciplinary Action Project, where student teams act as consultants for a real company and work to deliver a solution to a critical challenge that the organization is facing. Communication with project sponsors takes place primarily online, yet sometimes an on-site visit to the sponsoring organization is required.
The Michigan Ross OMBA Class of 2024 pursued careers in a broad range of fields and interests; 30% reported working in a general management function, 22% in technology, and 13% in consulting. Graduates landed career opportunities at some of the world’s most sought-after companies, including McKinsey & Company, Apple, Procter & Gamble, Mayo Clinic Health System, and Bain & Company.
Not all the news was positive: The new graduating class reported a mean signing bonus of $22,500, down from $27,000 for the Class of 2023.
More facts from the Class of 2023: Of responding students, 72% received a promotion between the start of the program and 4 months after graduation; 91% reported a promotion, new industry or function. Mean salary: $139,500. Thirty-six percent reported working in a general management function, 21% in technology, 15% in manufacturing, and 14% in consulting.
DON’T MISS MICHIGAN ROSS’S NEW MBA CLASS SHATTERS MULTIPLE SCHOOL RECORDS
The post From Michigan Ross, Concrete Answers To The Question: How Will An OMBA Boost My Career? appeared first on Poets&Quants.
