Yesterday’s New York Post, published an interesting article entitled B-school Boon. The story focused on the state of recruiting for top MBA graduates, citing a great deal of evidence that the class of 2005 was seeing some of the best employment offers in years. Given the paper’s New York City location, there was also a fair amount of commentary on the state of offers for jobs on Wall Street.
Here are a few excerpts from the article:
Newly sprung B-schoolers can expect to earn about $155,000 a year at top investment banks, which includes an average base salary of $80,000 plus bonuses. That’s about $10,000 more than last year’s graduating classes.
Local business schools are seeing a healthy bump as well. At New York University’s Stern School of Business, about 50 companies came to this spring’s job fair, up from 30-some last year. Job postings are also up 40 to 50 percent, said Gary Fraser, associate dean for MBA student affairs.
And those looking for jobs in Manhattan’s financial center should be buoyed by the latest news from the U.S. Bureau of Labor Statistics: Wall Street is thriving, with 3.3 percent job growth from March 2004 to March 2005. That’s the Street’s best overall growth rate since 2001, said Marty Kohli, a regional economist with the bureau, and it’s better than the national average.
For the full text of the article:
http://www.nypost.com/business/45710.htm
In other news, there is an interesting discussion taking place in the Business Week forums about Harvard. The cause of all the debate is an article that was published in Friday’s Wall Street Journal, entitled A Flood of Crimson Ink. The article suggested that Harvard’s top-flight brand (and omnipresence in our media) was no longer an accurate reflection of the school’s relevance in academia, politics, etc.
For the full text of the WSJ article and the subsequent debate:
http://forums.businessweek.com/bw-bschools/messages?msg=63625.1
