Business schools pride themselves on their ability to inflate the pay of their MBA students. The Financial Times’ recent MBA ranking revealed increases as high 148% for graduates of the top 10 schools worldwide.
Some fresh MBA graduates, however, earn far more than even very experienced financial services professionals can expect to command. The blog Poets & Quants points to one Dartmouth Tuck MBA who graduated last year and immediately earned $863k (£478k) at a private equity fund.
It also points to an LBS graduate who received a $553k starting salary. Notably, the best paid 2011 LBS graduate we found went into the corporate sector, suggesting financial services is no longer necessarily the best payer. Private equity may be an exception.
In 2010, KKR’s private equity investments rose in value 33%. Last year, they rose 4%. (Financial Times)
Venture capitalist takes testosterone: “I now have a bit more of an alpha male personality, and I’m able to get by on less sleep. It’s the positive side of aggression. You change your mentality and start looking positively at the future.” (Financial Times
Credit Suisse is paying the price for an ill-judged hiring spree in 2009 which Chief Executive Brady Dougan was too slow to reverse in the face of weak markets and regulatory headwinds. (Wall Street Journal)
Credit Suisse is cutting 100 jobs in Germany in an effort to save IT costs. (Bloomberg)
RBS can’t find a buyer for its cash equities and ECM business and is cutting 300 people. (Bloomberg)
Pay will be slashed, jobs will be cut—never to return—and egos will be racked upon the callous indifference of executives and shareholders more concerned with their own personal trials and tribulations than the suffering of their bought-and-paid-for minions. (Epicurean Dealmaker)
This monkey may be more intelligent than you. (United Academics)