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Wall St set to take MBA pay to new high [#permalink]
14 Mar 2007, 03:10
It's refreshing to read something like this. Hopefully we'll still be in such demand come 2009.
Wall St set to take MBA pay to new high
BOSTON/NEW YORK: Wall Street recruiters can be as aggressive as professional football players, says Chris Eitzmann, who will receive his master of business administration degree in May from Dartmouth Collegeâ€™s Tuck School of Business. â€œOnce given the offer, you are getting anywhere from two or three to four phone calls a day,â€
I took the $180k to mean the average for all MBAs. Averge compensation for the big IBs last year was $230k-$270k, with PE, VC and hedge funds going up from there.
Typically, Harvard and Stanford have not released their employment statistics, though the $180k number does make sense. Wharton & Columbia send a lot of their grads into IB, and their average salaries were $167-169k; it makes sens that Harvard and Stanford would be a bit higher because their grads seem to have better access to the ultra-high paying jobs in PE/VC.
These average numbers seem to include discretionary year-end bonuses in addition to based pay and guaranteed bonuses.