Wharton MBA grads and career location
Looking at the career location of 2009 wharton MBA grads, i was really surprised that only 1% went to Chicago. More graduates went to boston, SF, LA, DC, and even Atlanta. What gives? This makes no sense given that Chicago has quite a few powerhouse finance firms.
Also, it's hilarious that NYC's median salary is lower than virtually every other city, despite its higher taxes and much higher cost of living.
Probably a few things at work. One, the data was for 2009, not the best year for finance gigs, so you probably saw a hit in finance-heavy cities like Chicago as well as a decline in those firms traveling to/taking as many students from Wharton when you have Booth, Kellogg, Ross, Indiana, Notre Dame, etc all in your own backyard. In that same vein, Chicago clearly has a lot of competition from a lot of very good schools so while Wharton is Wharton, the talent pool is still quite deep and competitive. Further, most students do or should have a geographical preference upon entering b-school. If you know/think you want to work in Chicago post-grad, Wharton might not be your top choice.
I didnt put those reasons in any order but in retrospect I think they probably are in order of explanatory significance. Economy---saturation---geographic preference.
Chicago tilts heavily to the algo side. Doesn't matter if it is Wharton.
Undergrad engineering majors do better, believe it or not.
Chicago is fine for consulting, general management, and industry jobs, but it's not a great place for finance.
Aside from a few firms like citadel, madison dearborn, GTCR, there really aren't that many financial firms which can recruit talent from the top MBA programs. In contrast, Boston is loaded with VC firms, large asset management firms like wellington, fidelity, state street, putnam, PE firms bain capital and audax, and hedge funds baupost group and highfields capital. And I think tudor investments have its VC branch in boston as well. Los Angeles has PIMCO, canyon ranch, oaktree, which are all very selective places that recruit the best people at HBS and wharton.
Actually it makes a whole lot of sense, since Chicago is filled with idiots like you who have a chip on their shoulder / hard-on for Chicago. Every single post on the same topic? Don't you have anything else going on in your life? The Cubs and the White Sox suck, your winters are horrible, and your politicians are corrupt.
It's hilarious that you keep posting the same bs over and over again about Chicago and bashing NY, when Chicago will always play second (or third) fiddle to NYC when it comes to finance.
quantum's insecurity is pretty amusing. why can't he just accept the fact that chicago is second-tier when it comes to finance and does not get talent from elite schools.
you're an idiot if you don't think chicago gets students from top schools.
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