osbornecox wrote:
Are you saying that between half and a quarter of MBA hires at IBs are doing stuff like Treasury, Ops, PWM, etc? I would imagine Yale's pure-play IBD and PWM-type numbers are strong.
I would say that judging by the other school's figures pure IB is about 50-75% of all people going into the industry.
For example, Cornell 2008: 21% industry vs. 12% function; Darden 2009: 17% industry and 8% function; Columbia 2009: 28% in IB industry vs. 13% in IB function; NYU 2009: 32% industry vs. 15% function. The other quarter/half of the people going into the IB industry can be doing various jobs: internal finance, equity research, S&T, PWM just to name a few. Take a look at what other functions are listed in Columbia's report under Financial Services -
https://www.columbia.edu/cu/business/career/employmentreport/2009/2009.Columbia.Business.School-Employment%20Report.pdfEven in 2005, when the crisis was not there, Columbia sent 18.2% in corpfin/M&A functions vs. 28.5% going to the industry in total.
I don't see why Yale's figures should be much different from the above trend, but it really baffles me why they don't report a detailed function breakdown like the other schools and do a very general breakdown - they surely have detailed figures.
It's surprising, too, considering that they offer the most detailed GMAT breakdown distributions (they show subscores).
When I distinguish between functions, the fundamental distinction in my mind is "front office vs cost center".