2004-2005 Employment Report

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Employment Report 2OO5

On the cover:

Contents:
2 6 8 9 9 9 10 11 12 13 14 16 18 20 21 22 23 24 26 27 28 Firms with Recruiting Affiliations 2004–05 Major Employers 2005 Profile of the Class of 2005 Salary by Citizenship: Full Time Salary by Undergraduate Major: Full Time Salary by Years of Experience: Full Time Top Five Functions: Full Time New Hires by Function: Full Time Top Five Industries: Full Time New Hires by Industry: Full Time New Hires by Location: Full Time New Hires by Job Source: Full Time Profile of the Class of 2006 Top Five Functions: Intern New Hires by Function: Intern Top Five Industries: Intern New Hires by Industry: Intern New Hires by Location: Intern New Hires by Job Source: Intern GSB Associates Program MBA Career Services Staff

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1. Paul Welch, ’05 Paul is a Research Analyst with Ariel Capital Management, LLC. His profile is featured on page 17. 2. Jasmin Fung-Fen-Chung, ’06 In 2005, Jasmin was a Summer Associate in Sales and Trading for Barclays Capital Inc. Her profile is featured on page 19. 3. Danny Sack, ’05 Danny is an Associate Marketing Manager with Fellowes, Inc. His profile is featured on page 7.

Dear Colleagues,

At the University of Chicago Graduate School of Business, we know our graduates will face moments in their careers when the stakes will be higher than they’ve ever imagined. Moments when their business judgment will tip the scale between success and failure. Moments when there will be no ready formula or case study to guide their decision making. At Chicago GSB, we don’t try to predict the exact nature of the high-stakes moments our alumni will face during their careers. Rather, we prepare them to be ready with the skills, insights, and confidence to face the unknown and come out ahead. In a world where many people are told what to think, Chicago GSB graduates are creative and effective leaders who challenge assumptions, ask questions, and dig deeper. Over the past year, you’ve consistently told us how you value these characteristics in our graduates. This analytical drive, this habit of critical thought, this ability to dream up new solutions—these are why you source talent from Chicago GSB. We are delighted to partner with you to find the best ways for you to recruit this talent. This past year, for some 1,300 employers, that entailed posting 3,400 jobs. Just shy of 225 employers conducted close to 9,000 interviews in the Hyde Park Center. Hundreds of firms collaborated with student groups and with MBA Career Services to facilitate educational programming. We thank you for these valuable corporate relationships. We are keenly aware that this improving marketplace for MBA talent is accompanied by increased competition in the recruiting landscape. 217 firms hired 490 members of the Class of 2005. Fifty percent of the class was hired by just 23 firms. Nonetheless, the Class of 2005 joined a wide range of firms—more than 150 firms hired just one graduate—and they entered careers in 25 functions, 33 industries, and 16 countries. Within three months after graduation, 96 percent of the class had an offer of employment. We work closely with our students to dissuade them from “following the herd” and instead encourage them to pursue their life’s work with passion. Just as we work with them on their career management strategy, we welcome the opportunity to work with you on a strategic plan for attracting the best possible Chicago GSB talent to your firm. Thank you for your support. We look forward to working with you throughout the year.
With warm regards,

Julie T. Morton Associate Dean MBA Career Services

Firms with Recruiting Affiliations 2004–05
Those highlighted represent employers that recruited on campus for the first time in 2004–05
12 Threads Custom Clothiers 3M A. G. Edwards & Sons, Inc. A.T. Kearney, Inc. Abbott Laboratories Abercrombie & Fitch ABN AMRO Inc. Accenture Accretive Health Acquity Group, LLC ADC Addison-Clifton, LLC The Advisory Board Company Advisory Research, Inc. Aetna Inc. AIF Capital Limited Allmerica Financial Corporation Allstate Investments, LLC Alpha Capital Partners, Ltd. Amaranth Advisors, LLC AmBev American Capital Strategies, Ltd. American Century Investments American Express Company Analysis Group Economics Analysis Group, Inc. Apple Computer, Inc. Applus+ Technologies ARCH Venture Partners Archer Daniels Midland Company Archstone Consulting Ariel Capital Management, LLC Armstrong World Industries, Inc. Arthur D. Little, Inc. Asian Century Quest Capital LLC AT&T Atlas Venture Autodesk, Inc. Bain & Company, Inc. Balyasny Asset Management Banc of America Securities LLC Barclays Capital Inc. Barclays Global Investors Basel Asset Management, LLC BASF Corporation Baxter Healthcare Corporation Bayer HealthCare AG Bear, Stearns & Co. Inc. Beecher Investors, Inc. Bertelsmann, Inc. Billow Butler & Company, LLC The Blackstone Group Blue Cross Blue Shield Association Blue Lava Group, Inc. BNP Paribas Boeing Company Booz Allen Hamilton Bose Corporation The Boston Consulting Group BP The Bradford Group Brandes Investment Partners Bridge Strategy Group, LLC Brown-Forman Corporation Brown, Gibbons, Lang & Company, L.P. Bruce D. Schulman & Associates Brunswick Corporation BT Equity Partners Buckhead Capital Management, LLC C2 Capital Management LLC Cabot Microelectronics Corporation Calamos Investments The Cambridge Group, Inc. Campbell Soup Company Cantor Fitzgerald, L.P. Cap Gemini / Ernst & Young The Capital Group Companies, Inc. Cargill, Inc. Cargill Value Investment Carlson Capital Carlson Companies, Inc. The Carlyle Group L.L.C. Carrier Corporation Castine Capital Management, LLC CEMEX S.A. DE C.V. The Center for Financial Services Innovation Cerner Corporation ChapterHouse, LLC Charles River Associates, Inc. The Charmer Sunbelt Group Charter Consulting, Inc. ChevronTexaco Corporation The Chicago Faucet Company Chicago Partners LLC Church & Dwight Cintas Corporation Circle Peak Capital LLC Cisco Systems, Inc. Citadel Investment Group, Inc. Citigroup City of Chicago Cleary Gull Inc. Closerlook, Inc. CMD Realty Investors Cocoa Pete’s Chocolate Adventures Company Cohen Capital, LLC Comcast Corporation Computer Associates International, Inc. Computer Sciences Corporation ConAgra Foods Concentric Equity Partners Constellation Energy Constellation Power Source, Inc. Convergent Ventures Cooke & Bieler Copia Capital, LLC Corn Products International, Inc. Corporate Executive Board Corus Bank Credit Suisse First Boston LLC CRT Capital Group LLC CTS Corporation Culligan International Company Cypress Semiconductor Corporation D.E. Shaw Group DaimlerChrysler The David Lewis Company Davis Langdon & Seah International Deephaven Capital Management

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Deere & Company Dell Computer Corporation Deloitte Deltak Edu, Inc. Deutsche Bank Deutsche Post World Net DHL Danzas Air & Ocean Diageo DiamondCluster, Inc. Dimensional Fund Advisors Inc. Discover Financial Services Dodge & Cox The Dow Chemical Company Dramatic Diversity Dresdner Kleinwort Wasserstein Dupont E. & J. Gallo Winery Eastern Advisors LLC Eaton Corporation Ecolab Inc. Edgewood Management Company eFriendsNet Entertainment Corp. Eli Lilly and Company Endeavor Global Equity Group Investments, Inc. The Ermenegildo Zegna Group Ernst & Young Evergreen Investment Management Company, LLC Exclusive Resorts, LLC Exelon Corporation Exxon Mobil Corporation FA Technology Ventures Fairfield Greenwich Group Federal Reserve Bank of New York Fellowes, Inc. Fidelity Investments Fiduciary Management Associates, LLC Fiduciary Trust Company International First Annapolis Consulting, Inc First Data Corporation Fisher Scientific Fitch Ratings Ltd.

FMC BioPolymer Ford Motor Company Fore Research & Management LP FPL Associates LP Franklin Templeton Investments Fred Alger Management, Inc. Fubon Asset Management Fundación de Financiamiento Rural (FUNDEFIR) The Galt Company GE Healthcare Financial Services Genentech, Inc. General Electric Company General Mills, Inc. General Motors Corporation Geneva Investment Management LLC Gilead Sciences Glenwood Capital Investments LLC Global eProcure GMAC Insurance GMG Capital Partners, LLC Goldman, Sachs & Co. Golf Digest Online The Goodyear Tire & Rubber Company Google Inc. Grainger Greenberg Traurig, LLP Greenhill & Co. Inc. Guidant Corporation Hammond, Kennedy, Whitney & Company Inc Harrah’s Entertainment, Inc. HBK Investments L.P. Health Care Futures, LP Henry Rak Consulting Partners Hirtle, Callaghan & Co. Hispania Capital Partners Holland Capital Management Holliday Fenoglio Fowler, L.P. The Home Depot Honeywell International Inc Houlihan Lokey Howard & Zukin The House of Marketing

Household International, Inc. HSBC Huron Capital Partners LLC Huron Consulting Group Inc. IBM Business Consulting Services IBM Corporation IBM Extreme Blue IBM Global Financing Impala Asset Management LLC Infosys Technologies Ltd. Intel Corporation International Finance Corporation Investor Group Services ITA Software Inc. J.D. Power & Associates J.P. Morgan Chase & Co. Jackson LaSalle Group Janus Capital Group Inc. Jefferies & Company, Inc. Jennings Ryan & Kolb Jim Beam Brands Co. JMP Securities LLC Johnson & Johnson Joho Capital LLC Jones Lang LaSalle Kamylon Capital, LLC Katzenbach Partners LLC Key Bank KeyBanc Capital Markets Keystone Capital The Keystone Group King & Spalding LLP Kirkland & Ellis LLP KPMG, LLP Kraft Foods, Inc. L.E.K. Consulting La Petite Academy, Inc. Lafarge North America, Inc. LAMB Partners LAN Airlines S.A. Langenberg & Co. LLC LaSalle Bank Lattice Semiconductor Corporation

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Lazard Asset Management Lazard Freres & Co. LLC Lehman Brothers Lexis-Nexis Lifescan Inc. Limited Brands Lincoln Partners Lip-Ink International Lippincott Mercer L’Oreal Inc. Lowe’s Companies, Inc. M. C. Wilhelm Associates LLC M & T Bank Corporation Macquarie Capital Partners Madison Dearborn Partners, LLC Marakon Associates Massachusetts Financial Services Matlock Capital LLC Mattel, Inc. Maven Cosmetics LLC McKinsey & Company, Inc. Meadow Partners LLC Medtronic, Inc. Mercer Human Resource Consulting LLC Mercer Management Consulting, Inc. Merisant Merrill Lynch & Co., Inc. MFC Capital Funding Microsoft Corporation Midwest Wind Energy, LLC Minrad International, Inc. Modern Asia Environmental Holdings, Inc. Monitor Group Monomoy Capital Partners, LLC Montgomery & Co., LLC Moon Capital Management Morgan Stanley Morningstar, Inc. Motorola, Inc. Munder Capital Management National City Corporation NationsHealth Nationwide Insurance

NAVTEQ New York Life Insurance Company Nike, Inc. Northlight Capital, LLC Northwestern Mutual Ocean Tomo, LLC Optical Solutions, Inc. Ovation Pharmaceuticals, Inc. Overseas Private Investment Corporation PACCAR Inc Palestra Capital Partners, Inc. Palo Alto Research Center Incorporated (PARC) Parkway Properties, Inc. Partners Group PepsiCo Beverages & Foods Pfizer Inc PG&E Corporation Phoenix Global Advisors, LLC Pictet CIE PIMCO Piper Jaffrey & Co. Pittiglio Rabin Todd & McGrath Point B Solutions Group, LLP Portage Ventures Partners, Inc. Praesidium Investment Management Company, LLC Prairie Capital Advisors, Inc. PricewaterhouseCoopers LLP PRIMECAP Management Company Prism Capital Management Co. The PrivateBank and Trust Company Procter & Gamble Progressive Companies Proskauer Rose LLP Prospect Partners, LLC Prudential Capital Group Public Service Enterprise Group Quantitative Risk Management, Inc. QuinStreet, Inc. R.R. Donnelley & Sons Company Rain Bird Corporation Random House, Inc. Raymond James Financial, Inc.

Raytheon Company RBC Capital Markets RealNetworks, Inc. Reckitt Benckiser PLC Redwood Capital Management Reebok REFCO, LLC RelevantC LLC Revlon, Inc. Ritchie Capital Management, LLC Robert W. Baird & Co. Incorporated Roche Diagnostics Corporation Roland Berger & Partners LLC Royalty Pharma Russell Investment Group RX Capital Ryerson Tull, Inc. S.C. Johnson & Son, Inc. SAC Capital Management LLC Samsung Global Strategy Group The San Diego Foundation Sandbox Industries Sandell Asset Management Corporation SAP Markets (a mySAP.com Company) Sara Lee Corporation Schnitzer Northwest, LLC Scotia Capital Inc. Scouler Andrews, L.L.C. Screen Capital International Sears, Roebuck and Co. SEI Information Technology, Inc. SG2, LLC SG Partners Inc. The Shawmark Group ShoreCap Exchange Shoreline Capital Management, Ltd. Shumway Capital Partners LLC Siemens Building Technologies, Inc. Siemens Management Consulting Small Business Administration Solutia Inc. Spinel Capital Spin-Off Advisors, LLC

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Sprint Corporation SPSS Inc Staghorn Capital Management Standard & Poor’s Stanford University Stark Investments Starpower Communications, LLC State Street Global Advisors Sterling Capital Partners The Sterling Group Stern Stewart & Co. Stevens Capital Management LP Sun Capital Partners, Inc. Susquehanna International Group, LLP Swiss Re Symphony Asset Management LLC T. Rowe Price Associates, Inc. TAP Pharmaceuticals, Inc. Target Corporation TD Securities Teleflex Medical Telephone and Data Sytems, Inc. Tenaris ThinkEquity Partners LLC Thomson Legal and Regulatory Thomson Medstat Thornburg Investment Management, Inc. Tiber Group LLC Tobias Insurance Group, Inc. Transportation Financial Group Transwide Belgium N.V. S.A. Trust Company of the West Two River Group Holdings, LLC Two Rivers Capital Management LLC U.S. Trust Corporation UBS UMB Financial Corporation Unilever United Airlines, Inc. United Stationers Supply Company UnitedHealth Group The University of Chicago Hospitals Univision Communications Inc.

US Airways, Inc. Verizon Wireless Wachovia Corporation Wal-Mart Stores, Inc. The Walt Disney Company Wasatch Advisors, Inc. Washington Mutual, Inc. Weber Capital Management, LLC Wedbush Morgan Securities Wellington Management Company, LLP Wells Fargo The Westfield Group Weston Presidio WHI Capital Partners Whirlpool Corporation Whitebox Advisors, LLC William Blair & Company LLC William Harris Investors Wind Point Partners Wm. Wrigley Jr. Company Wyeth Wynnchurch Capital, Ltd. Yahoo! Inc. Yum! Brands, Inc. ZS Associates Inc.

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Major Employers 2005
September 12, 2005
Number of Hires
38 21 19 16 15 13 12 12 11 10 10 9 8 7 7 6 6 5 5 5 4 4 4 247 85 158 490

Companies That Hired 4 or More Graduates (23 Companies)
McKinsey & Company, Inc. Lehman Brothers Citigroup The Boston Consulting Group UBS A.T. Kearney, Inc. Credit Suisse First Boston LLC Goldman, Sachs & Co. Merrill Lynch & Co., Inc. Bear, Stearns & Co. Inc. Booz Allen Hamilton Deutsche Bank Bain & Company, Inc. Banc of America Securities LLC J.P. Morgan Chase & Co. Microsoft Corporation Morgan Stanley IBM Corporation Marakon Associates William Blair & Company LLC 3M Barclays Capital Inc. Brunswick Corporation Hires at Companies Hiring 4 or More Graduates (23 Companies) Hires at Companies Hiring 2 or 3 Graduates (36 Companies) Hires at Companies Hiring 1 Graduate Total

Percent of Hires
7.8% 4.3% 3.9% 3.3% 3.1% 2.7% 2.4% 2.4% 2.2% 2.0% 2.0% 1.8% 1.6% 1.4% 1.4% 1.2% 1.2% 1.0% 1.0% 1.0% 0.8% 0.8% 0.8% 50.4% 17.3% 32.2% 100.0%

Number of Intern Hires
12 19 14 10 18 6 15 21 23 8 12 24 8 9 10 5 11 1 0 2 2 8 3

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Danny Sack, ’05
Associate Marketing Manager Fellowes, Inc.
“Chicago GSB’s marketing drew me in. I knew it would be a rigorous learning experience, and that was especially critical to me as a career changer coming from an engineering background. I wanted to make sure I got all the skills I needed. In addition, MBA Career Services was invaluable in helping me refine the skills that would be of value to my next career—and learning how to talk about them. MBA Career Services provided a fantastic road map to the job search process. They didn’t simply hit you with a ton of bricks and say, ‘Here, build something.’ They said, ‘All right, here’s this ton of bricks—let’s build something together.’”

Profile of the Class of 2005
September 12, 2005 Class Profile for Full-Time MBA, Joint Degree, and IMBA Graduates August 2004, December 2004, March 2005, and June 2005
By Three Months Post At Graduation Graduation

Employment Profile
Seeking Employment Not Seeking Employment Postponing Job Search Sponsored Student Self-Employed/Founding Business Continuing Education Other Reasons Not Responding to Survey Total Graduates

Percent of Class
93.8% 5.9% 1.6% 1.4% 1.2% 0.7% 0.9% 0.4% 100.0%

Number of Students
527 33 9 8 7 4 5 2

Employment Profile
Job Offers(1) U.S. Citizens/Permanent Residents Foreign Nationals Total Job Acceptances(1)

88.7% 86.8% 88.2%

96.4% 95.6% 96.2%

U.S. Citizens/Permanent Residents Foreign Nationals Total Demographic Profile(2)

83.1% 79.4% 82.2%

92.8% 93.4% 93.0%

562

Mean Age Mean Years of Work Experience Female International Married

28 5 29.0% 27.0% 25.0%

(1) Represents percent of students who are seeking employment. Employers rescinded four offers made to graduates of the Class of 2005. This impacted less than 1% of the 527 Full-Time MBA Program graduates who were seeking employment. One MBA graduate reneged on an offer that had been accepted. (2) Demographic information is based on Full-Time MBA and IMBA students matriculating in September 2003.

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Salary By Citizenship: Full Time
September 12, 2005
Percent of Hires
74.1% 25.9% 100.0%

Citizenship
U.S. Citizens/Permanent Residents Foreign Nationals Total

Number of Hires
363 127 490

Minimum Salary(1)
$55,000 $60,000 $55,000

Maximum Salary(1)
$200,000 $130,000 $200,000

Median Salary(1)
$95,000 $95,000 $95,000

Salary By Undergraduate Major: Full Time
September 12, 2005
Undergraduate Major
Business Degree Technical Degree Other Total

Percent of Hires
46.1% 24.7% 29.2% 100.0%

Number of Hires
226 121 143 490

Minimum Salary(1)
$55,000 $70,000 $55,000 $55,000

Maximum Salary(1)
$200,000 $145,000 $180,000 $200,000

Median Salary(1)
$95,000 $95,000 $95,000 $95,000

Salary By Years of Experience: Full Time
September 12, 2005
Years of Experience
Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Total

Percent of Hires
2.4% 10.8% 49.2% 37.6% 100.0%

Number of Hires
12 53 241 184 490

Minimum Salary(1)
$69,600 $70,000 $60,000 $55,000 $55,000

Maximum Salary(1)
$125,000 $115,000 $130,000 $200,000 $200,000

Median Salary(1)
$105,000 $95,000 $95,000 $95,000 $95,000

(1) Compensation information is self-reported. Eighty-nine percent of students reporting accepted offers included salary information.

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Top Five Functions: Full Time
September 12, 2005

Facts at a Glance
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While 74% of graduates’ career choices were consolidated in five functions, 25 different functions were represented by the Class of 2005. Interest in finance remained strong, and consulting, marketing, and strategic planning all garnered additional interest for full-time opportunities. The median salary for full-time employment increased by $10,000 to $95,000. The mean base salary for the graduating class was $97,613. One indicator of the improving marketplace for MBA talent: the number of students receiving sign-on bonuses and guaranteed other compensation increased, as did the monetary amount provided through these forms of compensation.

27.1%

Consulting

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17.1% 12.0% 9.0% 8.8%

Finance—Investment Banking

Finance—Investment Management/Research Finance—Company Finance (Analysis/Treasury) Marketing

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25.9%

All Others

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Function
Top Five Functions Consulting Finance—Investment Banking Finance—Investment Management/Research Finance—Company Finance (Analysis/Treasury) Marketing All Others

Percent of Hires
74.1% 27.1% 17.1% 12.0% 9.0% 8.8% 25.9%

Number of Hires
363 133 84 59 44 43 127

Total

100.0%

490

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New Hires by Function: Full Time
September 12, 2005
Median Other Median Median Guaranteed Salary(1) Sign On (1,2) Comp.(1,2,3)
$90,000 $110,000 $95,000 $15,000 $30,000

Function
Business Development Consulting Finance Finance—Commercial Banking/Lending Finance—Company Finance (Analysis/Treasury) Finance—Insurance Finance—Investment Banking Finance—Investment Management/Research Finance—Private Client Services Finance—Real Estate Finance—Sales and Trading Finance—Venture Capital/Private Equity General Management Marketing Marketing—Advertising/Communications Marketing—Brand/Product Management Marketing—Sales Risk Management Strategic Planning Other

Percent Number of Hires of Hires
1.8% 27.1% 52.4% 0.6% 9.0% 0.2% 17.1% 12.0% 0.6% 1.2% 7.3% 4.3% 2.7% 8.8% 0.2% 7.8% 0.8% 0.8% 3.1% 3.3% 9 133 257 3 44 1 84 59 3 6 36 21 13 43 1 38 4 4 15 16

Minimum Maximum Salary(1) Salary(1)
$80,000 $70,000 $55,000 Insufficient data(1) $76,500 Insufficient data(1) $75,000 $70,000 Insufficient data(1) $96,000 $112,000 $175,000 $180,000 $115,000 $115,000 $125,000 $130,000 $110,000 $124,000 $175,000

$90,000

$15,000

$95,000 $95,000

$30,000 $25,000

$55,000 $55,000 $60,000 $85,000 $69,600 Insufficient data(1) $69,600 Insufficient data(1)

$87,500 $95,000 $100,000 $90,000 $87,500 $15,000 $15,000 $30,000

$115,000

$87,000

$11,500

Insufficient data(1) $70,000 $60,000 $130,000 $200,000 $90,000 $100,000 $10,000

Total

100.0%

490

$55,000

$200,000

$95,000

$18,000

$30,000

(1) Compensation information is self-reported. Eighty-nine percent of students reporting accepted offers included salary information. Insufficient data indicates less than 1% reporting for all accepted offers. (2) To be noted in this table, at least 50% of accepted offers in this function included a bonus. Overall, 68% of accepted offers included a sign-on bonus and 27% of accepted offers included other guaranteed compensation. (3) Median other guaranteed compensation includes guaranteed year-end bonuses and tuition reimbursements. It excludes perquisites (e.g., relocation, automobile) and variable compensation (e.g., performance bonuses, stock options).

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Top Five Industries: Full Time
September 12, 2005

Facts at a Glance
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Similar to the concentration of functions, the top five industries accounted for 75% of hires but altogether graduates accepted positions representing 33 different industries. This year, financial services, consulting, and consumer packaged goods industries remained popular, while technology returned to the “top five” ranks. Venture capital/private equity gained momentum this year.

28.8%

Financial Services—Investment Banking/Brokerage

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26.7%

Consulting

8.4% 5.9% 4.9% 25.3%

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Financial Services—Investment Management Technology Consumer Packaged Goods

All Others

Industry
Top Five Industries Financial Services—Investment Banking/Brokerage Consulting Financial Services—Investment Management Technology Consumer Packaged Goods All Others Total

Percent of Hires
74.7% 28.8% 26.7% 8.4% 5.9% 4.9% 25.3% 100.0%

Number of Hires
366 141 131 41 29 24 124 490

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New Hires by Industry: Full Time
September 12, 2005
Median Other Median Median Guaranteed Salary(1) Sign On (1,2) Comp.(1,2,3)
$110,000 $85,000 $15,000 $20,000

Industry
Consulting Consumer Packaged Goods Entertainment/Leisure Financial Services Financial Services—Commercial Banking Financial Services—Diversified Financial Services

Percent Number of Hires of Hires
26.7% 4.9% 0.8% 45.1% 0.4% 3.3% 131 24 4 221 2 16 141 41 21 23 3 15 7 4 6 29 4 12 12 1 8 15 490

Minimum Maximum Salary(1) Salary(1)
$70,000 $80,000 Insufficient data(1) $55,000 Insufficient data(1) $125,000 $115,000 $200,000 $175,000 $125,000 $200,000 $124,000 $130,000

$95,000

$30,000

$75,000 $75,000 $55,000 $60,000 $76,500 Insufficient data(1)

$95,000 $95,000 $95,000 $100,000 $90,000 $13,000 $30,000 $25,000

Financial Services—Investment Banking/Brokerage 28.8% Financial Services—Investment Management Financial Services—Venture Capital/Private Equity Manufacturing Nonprofit Pharma/Biotech/Health Care Services Petroleum/Energy Real Estate Retail Technology Technology—Computer-Related Services Technology—Electronic Equipment Technology—Software/Printing/Publishing Technology—Telecommunications Transportation Services/Equipment Other Total 8.4% 4.3% 4.7% 0.6% 3.1% 1.4% 0.8% 1.2% 5.9% 0.8% 2.5% 2.5% 0.2% 1.6% 3.1% 100.0%

$69,600 $85,000 Insufficient data(1) $90,000 $60,000 Insufficient data(1)

$180,000 $112,000

$89,000 $100,000

$15,000 $20,000

$100,000 $115,000

$90,000 $90,000 $10,000

$70,000 $60,000 Insufficient data(1) $70,000 Insufficient data(1) $55,000

$110,000 $115,000

$94,242 $90,000

$14,000 $10,000

$90,000

$80,000

$10,000

$200,000

$95,000

$18,000

$30,000

(1) Compensation information is self-reported. Eighty-nine percent of students reporting accepted offers included salary information. Insufficient data indicates less than 1% reporting for all accepted offers. (2) To be noted in this table, at least 50% of accepted offers in this industry included a bonus. Overall, 68% of accepted offers included a sign-on bonus and 27% of accepted offers included other guaranteed compensation. (3) Median other guaranteed compensation includes guaranteed year-end bonuses and tuition reimbursements. It excludes perquisites (e.g., relocation, automobile) and variable compensation (e.g., performance bonuses, stock options).

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New Hires by Location: Full Time
September 12, 2005

Facts at a Glance
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86% of graduates began their post-MBA careers in the United States. Major metropolitan centers—Chicago, New York, the Bay Area and London— accounted for two-thirds of all hires. More than 10% of the Class of 2005 headed to Western Europe and Asia for full-time employment. 56% of foreign nationals seeking employment accepted positions in the United States. 22% of all students accepted positions in countries where they were not authorized to work permanently.
37.3% Midwest 29.6% Northeast 11.6% West 2.7% 2.7% 2.2% South Southwest Mid-Atlantic

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United States

86.1%

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6.5% 4.7% 1.6%

Western Europe Asia Central/South America, Mexico Middle East Other

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13.9% International

0.6% 0.4%

Region
United States Midwest Chicago Minneapolis/St. Paul Detroit Northeast New York City Boston West San Francisco/Bay Area Los Angeles Seattle South Southwest Mid-Atlantic Washington DC Philadelphia

Percent Number of Hires of Hires
86.1% 37.3% 30.8% 2.9% 0.8% 29.6% 25.3% 3.5% 11.6% 4.9% 3.3% 1.6% 2.7% 2.7% 2.2% 1.0% 0.8% 422 183 151 14 4 145 124 17 57 24 16 8 13 13 11 5 4

Median Salary(1)
$95,000 $95,000 $95,000 $90,000 Insufficient data(1)

Region
International Western Europe London Asia Seoul Hong Kong

Percent Number of Hires of Hires
13.9% 6.5% 4.5% 4.7% 1.8% 1.4% 1.6% 1.2% 0.6% 0.4% 68 32 22 23 9 7 8 6 3 2

Median Salary(1)
$98,000 $105,000 $108,790 $95,000 $102,500 $95,000 $76,000 $75,500 Insufficient data(1) Insufficient data(1)

$95,000 $95,000 $110,000 $95,000 $95,000 $95,000 $98,500 $95,000 $110,000 $100,000 $101,000 Insufficient data(1)

Central/South America, Mexico São Paulo Middle East Other

Total

100.0%

490

$85,000

(1) Compensation information is self-reported. Eighty-nine percent of students reporting accepted offers included salary information. Insufficient data indicates less than 1% reporting for all accepted offers.

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Elena Krop Bernardo, ’05
Associate, McKinsey & Company, Inc.
“I find business degrees often get criticized for simply being a paper value, where the focus is on career and recruiting. However, Chicago GSB has a balance between recruiting and academics. Here you can challenge yourself— really push yourself—as much as you want and take your academic experience to a higher level. I also found the emphasis on group work invaluable. The collaborative environment helped me immensely, since consulting is all about teamwork and team dynamics.”

New Hires by Job Source: Full Time
September 12, 2005

Facts at a Glance
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28.8% Interview on campus— invite schedule 25.7% Summer internship sourced through the GSB 8.4% Other GSB source Interview on campus— open schedule Job postings/Resume Referral Service Off-campus interview sourced through the GSB Alumni contact School-sponsored career fair Prior business contact Letter campaign Personal/family contact Summer internship sourced through personal contact 6.7% 5.5% 4.1% 2.7% 0.8% 5.9% 4.3%

164 firms returned to Chicago GSB to recruit talent; 66 firms came to campus for the first time in 2005. 83% of accepted offers were sourced through GSB-facilitated resources. While summer internships remained a strong source for accepted full-time offers, on-campus interviews became the number one job source, and GSBfacilitated off-campus interviews grew due to the strong economy. As the GSB community strengthened, relationships with alumni, faculty, staff, and student groups accounted for 11% of full-time hires. Job postings increased 33% to 3,397.

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82.7%
School Facilitated

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Direct Contact

17.3%

4.3% 2.9%

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Method of Hire
School Facilitated Interview on campus—invite schedule Summer internship sourced through the GSB Other GSB source (e.g., faculty/staff/student groups) Interview on campus—open schedule Job postings/Resume Referral Service Off-campus interview sourced through the GSB Alumni contact School-sponsored career fair (e.g., Corporate Forum)

Percent of Hires
82.7% 28.8% 25.7% 8.4% 6.7% 5.5% 4.1% 2.7% 0.8%

Number of Hires
405 141 126 41 33 27 20 13 4

Method of Hire
Direct Contact Prior business contact Letter campaign Personal/family contact Summer internship sourced through personal contact

Percent of Hires
17.3% 5.9% 4.3% 4.3% 2.9%

Number of Hires
85 29 21 21 14

Total

100.0%

490

(1) Approximately one-half of the accepted offers generated by students’ direct contact with companies were with firms where the school has an established recruiting relationship.

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Paul Welch, ’05
Research Analyst Ariel Capital Management, LLC
“I knew I wanted to work at Ariel, and MBA Career Services helped me with two crucial components: resources and relationships. MBA Career Services’ resources helped me get in touch with valuable contacts at Ariel and effectively differentiate myself during interviews. For example, wInterview was a different interview training experience than some of my friends went through at other business schools. I had the opportunity to practice function-specific interview skills— such as investment management—with fellow students and alumni in a ‘safe’ environment. MBA Career Services also helped me on the relationship front, broadening my network across Chicago and directly within Ariel. Both components were extremely helpful to my job search.”

Profile of the Class of 2006
September 12, 2005 Class Profile for First-Year Full-Time MBA, Joint Degree, and IMBA Students
Percent of Class 95.7% 4.3% 2.1% 1.3% 0.6% 0.4% 0.0% 100.0% Number of Students 510 23 11 7 3 2 0 533 Job Acceptances(1) U.S. Citizens/Permanent Residents Foreign Nationals Not Responding to Survey First-Year Students Total Demographic Profile(2) Mean Age Mean Years of Work Experience Female International Married 28 5 26.0% 32.0% 29.0% 100.0% 100.0% 100.0% Percent of Class

Employment Profile Seeking Employment Not Seeking Employment Continuing Education Sponsored Student Self-Employed/Founding Business Postponing Job Search

Employment Profile Job Offers(1) U.S. Citizens/Permanent Residents Foreign Nationals Total

100.0% 100.0% 100.0%

(1) Represents percent of students seeking employment. (2) Demographic information is based on Full-Time MBA and IMBA students matriculating in September 2004.

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Jasmin Fung-Fen-Chung, ’06
Summer Associate, Sales and Trading Barclays Capital Inc.
“I was drawn to Chicago GSB because of its reputation within the business community and its top-notch faculty. Then, after visiting the campus and seeing the caliber of people with whom I’d be interacting, the deal was sealed. The quality of the lectures and the accessibility of the professors exceeded my expectations, and the curriculum was incredibly diverse and intellectually stimulating. In addition to taking courses focused on my interests and career goals, I also took courses outside of my primary focus, which opened up new ways of looking at what I want to accomplish.”

Top Five Functions: Intern
September 12, 2005

Facts at a Glance
I

100% of first-year students who sought an internship attained one. 71% of students landed internships in five functions. Financial services, consulting, and marketing continued to be popular intern destinations. Sales and trading jumped from 8% to 11%. First-year students accepted internships in 24 different functions.

21.0%

Finance—Investment Banking

I

14.6% 12.4% 11.8% 11.3%

Consulting

Finance—Investment Management/Research Finance—Sales and Trading Marketing

I

28.9%

All Others

Function
Top Five Functions Finance—Investment Banking Consulting Finance—Investment Management/Research Finance—Sales and Trading Marketing All Others Total
(1) Five students in the Class of 2006 reported having two internships.

Percent of Hires
71.1% 21.0% 14.6% 12.4% 11.8% 11.3% 28.9% 100.0%

Number of Hires(1)
366 108 75 64 61 58 149 515

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New Hires by Function: Intern
September 12, 2005
Percent of Hires 4.3% 14.6% 61.7% 0.8% 8.9% 21.0% 12.4% 1.2% 1.6% 11.8% 4.3% 2.9% 11.3% 0.6% 8.2% 1.6% 1.0% 0.8% 0.6% 2.7% 1.9% 100.0% Number of Hires(1) 22 75 319 4 46 108 64 6 8 61 22 15 58 3 42 8 5 4 3 14 5 515 Minimum Monthly Salary(2) $917 $2,025 $700 Insufficient data(2) $2,400 $5,000 $700 $1,400 $1,800 $6,000 $1,000 $2,000 $500 Insufficient data(2) $1,500 $500 $4,600 Insufficient data(2) Insufficient data(2) $1,400 $7,100 $500 $10,000 $10,413 $13,520 $5,660 $8,575 $7,750 $7,000 $5,027 $7,500 $5,800 $4,571 $5,400 $7,900 $10,382 $10,000 $8,000 $7,500 $10,000 $8,000 $7,000 $7,500 $6,000 $7,917 $7,916 $7,916 $4,480 $7,917 $5,000 $6,000 $5,560 Maximum Monthly Salary(2) $8,000 $13,520 $10,382 Median Monthly Salary(2) $5,600 $8,500 $7,916

Function Business Development Consulting(3) Finance Finance—Commercial Banking/Lending Finance—Company Finance (Analysis/Treasury) Finance—Investment Banking Finance—Investment Management/Research Finance—Private Client Services Finance—Real Estate Finance—Sales and Trading Finance—Venture Capital/Private Equity General Management Marketing Marketing—Advertising/Communications Marketing—Brand/Product Management Marketing—Research Marketing—Sales Operations/Production Risk Management Strategic Planning Other Total

(1) Five students in the Class of 2006 reported having two internships. (2) Compensation information is self-reported. Ninety percent of students reporting accepted intern offers included salary information. Insufficient data indicates less than 1% reporting for all accepted offers. (3) Bonus information: 27% of accepted offers reported in the consulting function received a sign-on bonus, for which the median bonus was $3,250.

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Top Five Industries: Intern
September 12, 2005

Facts at a Glance
I

The top five industries held steady; as the economy rebounded, interest in investment banking grew 12 percentage points and consumer packaged goods edged out technology in popularity. 37 different industries attracted talent from the Class of 2006.

36.5%

Financial Services—Investment Banking/Brokerage

I

14.4% 8.0% 6.0% 5.8%

Consulting Financial Services—Investment Management Consumer Packaged Goods Technology

29.3%

All Others

Industry
Top Five Industries Financial Services—Investment Banking/Brokerage Consulting Financial Services—Investment Management Consumer Packaged Goods Technology All Others Total
(1) Five students in the Class of 2006 reported having two internships.

Percent of Hires
70.7% 36.5% 14.4% 8.0% 6.0% 5.8% 29.3% 100.0%

Number of Hires(1)
364 188 74 41 31 30 151 515

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New Hires by Industry: Intern
September 12, 2005
Percent of Hires 0.8% 14.4% 6.0% 0.6% 53.8% 4.5% 0.4% Number of Hires(1) 4 74 31 3 277 23 2 188 41 23 16 27 22 10 4 4 30 6 4 11 7 2 4 9 515 Minimum Monthly Salary(2) Insufficient data(2) $500 $1,800 Insufficient data(2) $700 $4,167 Insufficient data(2) $10,382 $10,000 $8,000 $5,417 $10,000 $7,550 $8,000 $7,917 $7,000 $4,500 $4,571 $5,700 $6,199 $7,000 $10,382 $9,717 $7,917 $7,600 $13,520 $6,500 $8,500 $5,750 Maximum Monthly Salary(2) Median Monthly Salary(2)

Industry Chemicals Consulting(3) Consumer Packaged Goods Entertainment/Media Financial Services Financial Services—Diversified Financial Services Financial Services—Insurance

Financial Services—Investment Banking/Brokerage 36.5% Financial Services—Investment Management Financial Services—Venture Capital/Private Equity Government/Nonprofit Manufacturing Pharma/Biotech/Health Care Services Petroleum/Energy Real Estate Retail Technology Technology—Computer-Related Services Technology—E-Commerce and Internet Technology—Electronic Equipment Technology—Software/Printing/Publishing Technology—Telecommunications Transportation Services/Equipment Other Total 8.0% 4.5% 3.1% 5.2% 4.3% 1.9% 0.8% 0.8% 5.8% 1.2% 0.8% 2.1% 1.4% 0.4% 0.8% 1.7% 100.0%

$6,000 $700 $1,000 $1,400 $2,500 $5,760 $4,500 Insufficient data(2) Insufficient data(2) $1,500 $5,400 Insufficient data(2)

$7,677 $6,100

$6,000 $5,750

$4,640 $6,000 Insufficient data(2) Insufficient data(2) $1,300 $500

$7,677 $6,666

$6,000 $6,250

$10,413 $13,520

$5,633 $7,750

(1) Five students in the Class of 2006 reported having two internships. (2) Compensation information is self-reported. Ninety percent of students reporting accepted intern offers included salary information. Insufficient data indicates less than 1% reporting for all accepted offers. (3) Bonus information: 26% of accepted offers reported in the consulting industry received a sign-on bonus, for which the median bonus was $3,500.

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New Hires by Location: Intern
September 12, 2005

Facts at a Glance
I

Chicago, New York, and London remained top destinations. Reflecting largely the increased focus on banking, New York edged out Chicago this year, and London attracted more students than the previous year. More so than prior years, students pursued opportunities in the growth markets of Minneapolis and Seattle. Asia attracted more students this year than last; almost the same number of students went to Asia as headed to Western Europe for the summer.

34.2% Midwest 31.7% Northeast

I

United States

80.6%

8.3% 2.5% 2.1% 1.7%

West Southwest South Mid-Atlantic

I

8.9% 8.7%

Western Europe Asia Central/South America, Mexico Other

19.4%
International

1.2% 0.6%

Region
United States Midwest Chicago Minneapolis/St. Paul Detroit Northeast New York City Boston West San Francisco/Bay Area Los Angeles Seattle Southwest Dallas South Mid-Atlantic Washington DC Philadelphia

Percent Number of Hires of Hires(1)
80.6% 34.2% 28.0% 2.1% 0.8% 31.7% 28.7% 1.9% 8.3% 3.3% 2.1% 1.4% 2.5% 1.2% 2.1% 1.7% 1.0% 0.8% 415 176 144 11 4 163 148 10 43 17 11 7 13 6 11 9 5 4

Median Salary(2)
$7,500 $6,000 $6,000 $6,000 Insufficient data(2) $7,916 $7,917 $7,700 $6,458 $7,000 $6,833 $6,250 $7,259 $9,250 $5,800 $7,793 $8,000 Insufficient data(2)

Region

Percent Number of Hires of Hires(1)
100 46 35 45 17 10 8 6 3

Median Salary(2)
$8,000 $8,450 $8,771 $8,000 $8,000 $8,667 $8,000 $4,500 Insufficient data(2)

International 19.4% Western Europe 8.9% London 6.8% Asia 8.7% Hong Kong 3.3% Seoul 1.9% Tokyo 1.6% Central/South America, Mexico 1.2% 0.6% Other

Total

100.0%

515

$7,750

(1) Five students in the Class of 2006 reported having two internships. (2) Compensation information is self-reported. Ninety percent of students reporting accepted intern offers included salary information. Insufficient data indicates less than 1% reporting for all accepted offers.

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Korli Kamara, MBA/MPP ’06
Summer Strategy Analyst Chevron Corporation
“MBA Career Services taught me to rethink how I presented my ideas, which I realized was critical with my joint degree. Many people see a juxtaposition—public policy as ‘liberal’ and the MBA as ‘capitalist’—and MBA Career Services brought that to my attention; it was something I'd not considered, and it actually came up in several interviews. Thanks to MBA Career Services’ insight, I was able to articulate my ideas more clearly and concisely.”

New Hires by Job Source: Intern
September 12, 2005

Facts at a Glance
I

Just shy of 90% of accepted internship offers were sourced through GSBfacilitated sources. Our network of corporate partners, alumni, staff, faculty, and students worked together to create a variety of opportunities to prepare students and source new internships.

43.9% Interview on campus— invite schedule 13.4% Interview on campus— open schedule 11.1% Other GSB source

I

88.5%
School Facilitated

7.8% 5.6% 2.9% 2.3% 1.2% 0.4% 4.7%

Job postings/Resume Referral Service Off-campus interview sourced through the GSB Alumni contact Employer presentation Spring GSB Resume Book School-sponsored career fair Letter campaign Personal/family contact Prior business contact

11.5%
Direct Contact

4.5% 2.3%

Method of Hire
School Facilitated Interview on campus—invite schedule Interview on campus—open schedule Other GSB source (e.g., faculty/staff/student groups) Job postings/Resume Referral Service

Percent of Hires
88.5% 43.9% 13.4% 11.1% 7.8%

Number of Hires
456 (1) 226 69 57 40 29 15 12 6 2

Method of Hire
Direct Contact with Company(2) Letter campaign Personal/family contact Prior business contact

Percent of Hires
11.5% 4.7% 4.5% 2.3%

Number of Hires
59 (1) 24 23 12

Off-campus interview sourced through the GSB 5.6% Alumni contact Employer presentation Spring GSB Resume Book School-sponsored career fair (e.g., Corporate Forum) 2.9% 2.3% 1.2% 0.4%

Total

100.0%

515

(1) Five students in the Class of 2006 reported having two internships. (2) Approximately one half of the accepted offers generated by students’ direct contacts with companies were with firms where the school has an established recruiting relationship.

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GSB Associates Program
Throughout its history, Chicago GSB has relied on the generous support of the business community in its pursuit and transfer of knowledge. This partnership has inspired an educational regimen that is taught by leading experts based on academic rigor. The GSB Associates Program is an important link in that partnership. By making annual unrestricted gifts to Chicago GSB, our Associates members support teaching and research, student development, and groundbreaking programs. Chicago GSB’s partnership with the business world has inspired a legacy with a profound impact upon the global business community. We are grateful for this support from our Associates Program partners. For more information, please contact the Office of Annual Renewal Programs at 773.702.3411 or [email protected].

Associates Program Members 2004–05 Academic Year
A. M. Castle & Co. Ariel Capital Management, LLC Armstrong World Industries, Inc. Bain & Company, Inc. Banc of America Securities LLC Barclays Capital Inc. The Boston Consulting Group Chicago Mercantile Exchange Inc. Credit Suisse First Boston LLC DaimlerChrysler Corporation Fund Deere & Company Deutsche Bank Draper and Kramer, Incorporated Eastman Chemical Company Eli Lilly and Company Exxon Mobil Corporation Field Container Company, L.P. General Mills, Inc. The Gillette Company Goldman, Sachs & Co. Jones Lang LaSalle LaSalle Bank Lehman Brothers Merrill Lynch & Co., Inc. Pfizer Inc Robert W. Baird & Co. Incorporated State Farm Mutual Automobile Insurance Company T. Rowe Price Associates Foundation, Inc. Telephone and Data Systems, Inc. Triarc Companies, Inc. Wachovia Corporation

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MBA Career Services Staff
Julie Morton Associate Dean 773.834.3591 [email protected] Employer Relationship Management Kevin Baltz Senior Associate Director 773.702.9188 [email protected] Christy Leak Associate Director 773.834.2839 [email protected] Janice Farrar Assistant Director 773.702.9209 [email protected] Suzanne Schoeneweiss Assistant Director 773.702.9189 suzanne.schoeneweiss @ChicagoGSB.edu Melanie Scarlata Manager On-Campus Recruiting 773.702.7407 [email protected] Employer Development Jessica Henry Assistant Director 773.834.0243 [email protected] Sarah Burkhart Job Development Manager 773.702.2627 [email protected] Career Management Trish Byrnes Senior Associate Director 773.702.4284 [email protected] Char Bennington Associate Director 773.834.2618 [email protected] Julia Zupko Associate Director 773.834.5442 [email protected] Kirsten Nelson Assistant Director 773.702-5092 [email protected] Kelly Scharver Assistant Director 773.834.2083 [email protected] Becky Heyward Manager Career Events 773.834.3539 [email protected] Career Resource Center Martha Farley Librarian/Associate Director 773.834.5443 [email protected] Molli Connell Manager 773.834.0449 [email protected] Technical Support Paul Steven Technology Associate Information Systems and Reporting 773.702.7016 [email protected] DoriAnn Basaraba Manager Information Systems and Publications 773.834.2601 [email protected] Office Support Barbara Vance Office Manager 773.702.7436 [email protected] Shonda Triplett Secretary 773.702.4286 [email protected]

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The University of Chicago Graduate School of Business endorses the MBA Career Services Council Standards for Reporting MBA Employment Statistics (www.mbacsc.org).

© 2006 The University of Chicago. All rights reserved. 3-06/BE/3700/05-273 Photography by Dan Dry.

MBA Career Services The University of Chicago Graduate School of Business 5807 South Woodlawn Avenue Chicago, Illinois 60637 Tel 773.702.7405 Fax 773.702.9252 ChicagoGSB.edu

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