Babson Undergraduates Once Again Report Highest Starting Salary Ever
Before Shannu Channa ’24 names the most impactful class she took at Babson, she adds a disclaimer: It was an 8 a.m. class she took her last semester of college. Channa, however, knew once she got to the Stephen D. Cutler Center for Investments and Finance and sat down, she was doing more than attending class. She had set the alarm for her future, and it was already buzzing.
She was talking about Fixed Income and Structured Products with Professor Glenn Migliozzi, who brings over three decades of financial services experience to the classroom.
“Professor Migliozzi has such enthusiasm for the material,” Channa says. “It helped me understand how the financial markets fit into the macro environment overall. We had access to the Bloomberg Terminal, and we did a lot of hands-on projects. It was that class where I realized, ‘OK, I know what I want to work hard for.’”
The early mornings paid off, as she now works as an analyst at Webster Bank, and is part of the Class of 2024, which, for the third year in a row, reports the highest average starting salary ever for a Babson undergraduate class.
The reported average starting salary, $77,681 (based on a knowledge rate of 55 percent), is over 20 percent higher than the projected average for business majors from the National Association of Colleges and Employers (NACE). It’s even higher than the median salary for all workers with a business degree, according to the U.S. Bureau of Labor Statistics.
Additionally, 97.7 percent of the class reported being employed, continuing their education, or volunteering only six months after graduation, based on a knowledge rate of 85 percent. In a fluctuating, frustrating job market, recent Babson students continue to see sustained success after graduation. It’s a source of pride for the College and a primary reason for the national recognition and rankings Babson has recently amassed.
MORE IMPRESSIVE OUTCOMES: Along with the average starting salary ($77,681) and 97.7 percent of the class being employed, continuing their education, or volunteering, over 85 percent of the Class of 2024 reported at least one internship. Read the full report on Babson’s First Destination Outcomes Interactive Dashboard.
“Our graduates achieved these outstanding results while weathering a challenging job market,” says Ann McAdam Griffin, the director of the Hoffman Family Undergraduate Center for Career Development (Undergraduate CCD) at Babson. “We have admiration for all our graduates have, and will, accomplish as entrepreneurial leaders who create, grow, and steward sustainable economic and social value everywhere.”
Hands-On Learning from Start to Finish
Recent graduates navigated their last years of high school at the onset of the COVID-19 pandemic and remote learning, and they came to Babson knowing education and the professional world would shift as the pandemic and its effects evolved. Despite these lingering pandemic impacts, over 85 percent of the Class of 2024 reported having at least one internship while at Babson.
Internships remain a key determining factor in the job hunt. According to a February 2024 report from the Strada Institute for the Future of Work and The Burning Glass Institute, “the odds of underemployment for graduates who had at least one internship are 48.5 percent lower than those who had no internships.” Babson students also receive hands-on experience with external organizations as part of the Advanced Experiential course requirement.
One of the first classes Babson students take is Foundations of Management and Entrepreneurship, a two-semester course on entrepreneurial leadership where they work in teams to start a real business. A 2024 study published in the Academy of Management Learning & Education shows that the experience builds resiliency and an entrepreneurial mindset in students, as they must navigate both business and interpersonal situations with grace, agility, and intelligence.
These specific experiences are not only resume builders and concrete examples to draw on in interviews; they also guarantee Babson students have a competitive edge before they even graduate. For Channa, she felt her classes went beyond just reading a textbook. It was one thing to learn financial terms; it was another to see them put into literal action through the resources at the Cutler Center.
“We had access to the Bloomberg Terminal, and we did a lot of hands-on projects. It was that class where I realized, ‘OK, I know what I want to work hard for.’” Shannu Channa ’24
A Culture of Career Preparedness
Undergraduate CCD recently won the Career Spark Award from Handshake, and when The Wall Street Journal named Babson College the second-best college in the United States, it also ranked Babson No. 2 for Career Preparedness. Undergraduate CCD begins building relationships with students during their first year, educating them on the career development process. This includes individual career advising, resume preparation, interview skills, and networking assistance. The team also organizes industry-specific events and initiatives such as a professional attire fund.
Channa worked as a Peer Career Ambassador through the Undergraduate CCD and witnessed firsthand the work that goes into helping a student population with a variety of professional interests and experiences.
“I participated in a lot of career events and would walk others through behavioral and technical interviews,” Channa says. “Working in that environment helped me figure out my networking process because I got to hear from students in other industries.”
As part of the outcomes reporting, recent graduates were asked to rate how their current role aligns with their career interests on a five-point scale; 85 percent of respondents rated their positions a four or higher.
It’s a testament to the versatility and value of a Babson degree. And as Channa learned during some early mornings her last semester, if you’re willing to get up for something every day, you might want to do it for the rest of your life.
Posted in Outcomes
