Lunchtime Links: After five years, the average Harvard MBA is earning 104k
BusinessWeek has conducted some research into how much MBA students from US schools can expect to earn within 2 years, 5 years, 10 years, 15 years, and 20 years of graduating - plus across their whole careers. The results are specific to US schools, but include many of those institutions favoured by investment bankers.
They show that the average Harvard student earns the most, at $3.9m throughout the course of his/her career. This is followed by Wharton ($3.5m) and Columbia ($3.3m). Within five years of graduating, the average (median) Harvard MBA is earning $149k (104k), which doesn't sound particularly huge given that the mean bonus for a third year associate in M&A was allegedly 125k last year.
Where US MBA graduates want to work. (CNN)
The FSA is continuing with the business plan it announced in March, and still plans to hire 400 people. (FSA)
Macro-prudential risk supervision is being shifted to the Bank of England. (BusinessWeek)
Markets are losing faith in Europe's financial system. (BusinessInsider)
European Union countries will be required to impose an upfront levy on banks. (Financial Times)
From financial crisis, to sovereign debt crisis, to financial repression. (Financial Times)
The most important thing to know about the 1,500 page financial reform bill passed by the Senate last week is that it's regulatory. It does nothing to change the structure of Wall Street. (Robert Reich)
Jefferies has hired a senior rates trader AND a telecoms analyst. (EMii)
Citgroup's hired an ABS salesman from Nomura. (Bloomberg)
Deutsche has hired a credit sales MD from Morgan Stanley. (IFR)
Ex-Global Alpha chief has been hiring staff for his new fund. (FinAlternatives)
Tony Blair gets new job at venture capital firm. (Guardian)
Dangerous workloads at Bank of New York Mellon. (Telegraph)
The potential intern from hell. (Gawker)
The potential intern from hell returns. (Gawker)
Brian Moynihan's brother is a catholic missionary. (WSJ)
The banker with a heart of gold that's not quite activated yet. (NYMag)
