The retail industry, the medical device manufacturing industry, and the software development industry are just a few of the areas in which the U of M grads find work. The health insurance industry is the sector most highly represented among alumni. Former U of M graduates bring in about $65K on average.
It's worth noting that female graduates earn a median salary of $61K whereas the men's median is around $77K.
The U of M alumni who make the most are Principal Electrical Engineers; they report a median pay of $118K. Human Resources Directors and Chief Executive Officers draw in a fair amount as well — approximately $98K and $89K, respectively. On the lower end, Recruiters report making $41K.
Many U of M alumni seem to stick around Minneapolis after wrapping up their studies; just over two-fifths of grads remain to find permanent work. U of M grads also flock to Seattle, Wash., which is home to salaries significantly above average (median pay is $92K). Denver, Colo. is a popular spot for former U of M students at the opposite end of the pay scale; in fact, average salaries there are the lowest at $54K. In addition, U of M grads flock to neighboring St. Paul, Minn. as well as Bloomington, Minn.
A Master of Science (MS), Electrical Engineering (EE) leads to the highest pay for U of M grads ($117K on average per year). The degree that warrants the lowest level of financial compensation is a B.A. in Communication (about $37K on average annually).
A little less than one-fifth of grads report using Project Management as part of their job, making it the most popular skill. Strategic Planning commands a pay premium of 67 percent for former Golden Gophers. Other top skills include Engineering Design, Microsoft Office, and Microsoft Excel.
Benefits and Perks
Just over half of the graduates do get paid time off for vacation, but only about one-fifth of alumni get paid sick time. Most graduates take advantage of a 401(k) plan. Most former students enjoy benefits like health insurance, while a fair number of graduates receive dental plans, too. University of Minnesota grads also enjoy benefits like life insurance, a casual working environment, tuition reimbursement, and flexible hours.
Michigan State University grads report the most similar salaries to U of M alums, earning approximately $67K on average. Other schools similar to U of M include the University of Wisconsin-Madison, Iowa State University, and the University of Iowa.