Monday, October 6, 2008

Harvard MBA Indicator-2008 Update-2

"The day after Lehman Brothers Holdings Inc. said it would file for bankruptcy-court protection, University of Chicago's Graduate School of Business career office had already made personal calls to all of their 26 alumni from the 2008 class who worked at the firm. ... The University of California-Berkeley Haas School of Business, is also extending invitations to its New York-based alumni for several career workshops hosted by Columbia, says Nicole Gehrmann, assistant director of M.B.A. recruitment for financial services and energy at Haas. ... Traditionally, about 50% of the business students at Cornell end up working in finance in New York. ... Typically, Wharton sends about 50% of its undergraduates into investment banking. ... Typically, more that 50% of the nearly 700-person graduating M.B.A. class at Columbia head into finance jobs--more than half of that group working in investment banking and brokerage", Alina Dizik, at the WSJ, 23 September 2008.

Fools. See my previous "Harvard MBA Indicator" and related posts. Fools with 720 GMATs. Fools, historical ignoramuses.

An IA war story. Many years ago, a long-time CPA friend of mine told me he had a new lady friend. I said so. He then said she was a vice-president at "Big Five" investment bank. I said so. He then said she makes $250,000 a year. I said so. He then said, "It's a Wall Street $250,000. She would be lucky to make $50,000 anywhere else". This was so long ago, I estimate the $250,000 would be $1,100,000 today. No industry has more overpaid ignoramuses than Wall Street.


geovani said...

"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.

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Independent Accountant said...

That's in my 25 October 2007 post. What's your point?

marry said...

Blogs are so informative where we get lots of information on any topic. Nice job keep it up!!

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