Another reason to go get an MBA after IBD?
"This year the MBA who landed the highest annual base salary–a whopping $350,000 to start."
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Nice! What are these guys going in as? Regular post MBA associates?
Very interesting article.
On a side not: The article on top " What Harvard MBA's really want to accomplish" is very inspiring.
I was reading a similar article off AR just 5min ago: http://researchpuzzle.com/blog/2010/12/26/earning-credentials/
Note that most if not all of these guys are working in PE/Hedge Funds. If you go into the MBA straight from IBD and don't do a pre-MBA buyside gig, I'd reckon that these salary levels are unattainable.
I'd also note that these MBAs probably had a pretty high base salary going in (pre-MBA). I don't know what the salary progression at megafunds look like though?
WOW. I imagine this gives most people on WSO raging boners.
Your avatar gives a huge boner.
Pretty sure the Wharton guy works at Apax Partners, the European PE firm. They don't give bonuses to first-year post-MBA associates so they compensate with a very high base salary.
I need that cash flow
Saw this article yesterday but decided not to post it so the monkeys in their cage wouldn't get all excited, lol.
Seems pretty insane but I don't think I would turn it down, lol. I'm curious if there is more to it then they write about. The salary seems so high that it hardly adds up for a traditional post MBA hire...but who knows, maybe I'm being jealous, lol.
Regards
http://poetsandquants.com/2010/07/12/what-harvard-mbas-plan-to-do-with-…
This really has to be the funnier articles I have read. All these dreams to do the world good. All these dreams to help those in need. And where are they going to be working might I ask? Consulting and Investment Banking.
Considering I am working in this industry I have no issue with it. In fact I don't think the best should work solely in non-profit. But the lack of congruence between aspirations and actions is startling. Either the aspirations are false or the actions taken are wrong. Considering these are smart guys and gals, I would bet the former.
Easy to pen a dramatic 200 word line but its very difficult passing up that six-figure job.
West Point of Capitalism my ass.
I really enjoyed the article. I definitely think there is a disconnect between what everyone wants to do in life, versus what is economical and sensible at certain times. It's all relative to the realities of your situation versus your expectations, as well as your perspective on life.
I think what you mean, is that there's a disconnect between what people want to do in life, if they didn't have to worry about money... That's an important distinction in my opinion, because once you factor in the financial trade-offs, what "someone wants to do with their life" often becomes very different. And since in reality, people actually do consider the financial trade-offs, that's the relevant thing to think about (as opposed to some hypothetical, highly unlikely scenario).
good article, although few of them will ever get a job at one of those shops.
On the other note, I think they spelled providence wrong
"In private equity that means hiring grads who already have been in the business–often as high-performing analysts for the same companies that hire them back."
What was the point of them going to b-school then?
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