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Manager
Joined: 03 Nov 2006
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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 College’s Tuck School of Business. “Once given the offer, you are getting anywhere from two or three to four phone calls a day,â€
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VP
Joined: 29 Apr 2003
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That is really promising for those who already have an offer!
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Director
Joined: 07 Aug 2006
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I wonder if the consulting firms will follow suit.
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VP
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dukes wrote: I wonder if the consulting firms will follow suit.
Good Question.
This is how I see it - In general the finance industry is doing very well. The IBs, PEs are all making big money and thus attracting MBAs with high salary/bonus.
I am not sure whether the other industries are doing equally well. Consulting is kind of dependend on the other industries (where they operate) so I wouldnt assume that they will follow suit.
My $0.02.
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VP
Joined: 11 Dec 2006
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Citi will be paying well to get MBAs at the moment. They are in trouble as to the other ways they can incentivise recruits.
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Manager
Joined: 08 Dec 2006
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I suspect they will be forced to follow suit by market pressures. If they aren't at least close to Wall Street salaries, they risk losing students to those higher salaries.
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Manager
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I didn't realize that the average compensation was over $180k at Harvard and Stanford. That's impressive. I wonder what it will be in 2009?
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Director
Joined: 09 Jan 2007
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Where'd you get this article?
It's expected that pay reach new highs each year. Now if they showed facts showing that the percentage increase was going to be astronomically high, then I'd raise some eyebrows.
This just sounds like marketing.
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Director
Joined: 28 Jun 2006
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They just mean that 180K is the average Wall Street compensation for HPHC grads right? Typical journalist being loose with words.
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Manager
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johnnyx9, that's why I initially thought. But isn't Wall Street compensation (including bonus) for someone from a top business school going to be higher than $180k?
It does indicate that the $180k number is an "average" compensation, so maybe the high iBanking, PE, and VC compensations are lifting up the average compensation to this level.
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Senior Manager
Joined: 03 Aug 2006
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we don't know what the job market will look like in 2009...
Last edited by died4me on 14 Mar 2007, 14:11, edited 1 time in total.
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Manager
Joined: 25 Sep 2006
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a somewhat discouraging article on the future market for IB
http://www.careerjournal.com/salaryhiri ... g_whatsnew
not sure how much I would agree with it tho...
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Director
Joined: 28 Jun 2006
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Flapjack - Maybe so, hard to tell for sure what they meant in the article.
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SVP
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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.
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Director
Joined: 28 Jun 2006
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Good points. I guess if people are making over 200K in i-banking then maybe it brings the average way up, so it probably is the average for all students.
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