Thursday, October 25, 2007

The Harvard MBA Indicator

"Total compensation, including salary, bonus and carried-interest distributions, rose 24% to $340,000 for the median U.S. private-equity professional. ... Such incentives were enough to make private equity the No. 1. destination for graduates of the nation's top business schools last year. At Harvard Business School, 13% of graduates opted for a job in private equity, ahead of investment banking. The same held true at Stanford ... with 12% of the ... class heading for private-equity firms", WSJ, 3 October.

Private equity is finished. "Business school graduates of the class of 1973 are opening up their first pay envelopes about now, and thanks to a bull market for [MBAs], the checks are plumper than ever. Graduates of such elite schools as Harvard, Stanford, or Pennsylvania's Wharton start out an at avearge of close to $17,000 per year. To the graduates, glamour fields include management consulting, land development, banking and finance. ... Sea Pines Company, a recreational land developer in Hilton Head, S.C., hired at least eight from Harvard", Time, 6 August 1973. That made Sea Pines the number one destination for Harvard's 1973 MBAs. What are they doing now?


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