Late Lunchtime Links: The crippling cost of a top MBA; further proof that traders should aspire to work at JPMorgan

If you're thinking of doing an MBA, you may be balking at the fees (currently 54k at London Business School.) However, the fees are a mere fraction of the total cost.

According to this blog, an MBA at a top US school, taking into consideration the cost of living and the opportunity cost of lost earnings, costs approximately $350k (221k). In London, the cost may be higher given the cost of renting accommodation and the cost of living.

Separately, we have further proof that traders might want to be working at JPMorgan.

US banking analyst Brad Hintz has produced a chart looking at trading efficiency by bank and by product. "Trading efficiency" is defined as: total sales and trading revenues divided by the average VaR during the time period. As such, it determines the amount of sales and trading revenue generated per unit of risk (VaR). On this measure, Goldman is clearly top in equities, but nowhere else.

Source: Bernstein Research

Evolution has cut 60 jobs today. (Evening Standard)

Societe Generale is laying-off investment banking staff in the West but plans to expand private banking, corporate and investment banking operations in China, Japan and Singapore. (Wall Street Journal)

MF Global's UK arm is cutting 435 people and keeping 300 for a few months to help wind the company down. (Financial Times)

Persons for Occupy London have squatted a building owned by UBS and declared it 'a bank of ideas.' (OccupyLondon)

Alessio Rastani will be leading a session at the 'bank of ideas.' (OccupyLondon)

If you want to live in the square mile, it will now cost you 1k per square foot. (The Times)

A monk and former Bank of America banker led a meditation on Occupy Wall Street yesterday. (Business Insider)

Thomas Atteberry, a partner and portfolio manager with Los Angeles-based First Pacific Advisors, a $16 billion money management firm, says his success "wasn't a gift" and he had to work hard to get where he is. (Reuters)

Star fund manager Bill Miller has retired, and describes working in the industry as "brutal" where "success equals survival." (Financial Times)

One senior female employee from New Star says it was "like a Hitchcock film" with "terrible fear and paranoia" and she regularly went home in tears. (Financial Times)

Please send money to the Co-Op bank to help fund our war against the banks. (OccupyLondon)

Financial services accounts for over 30% of all employment in London, nearly 15% in the South East and less than 10% in Scotland. (Financial Times)

Counter-protestors at Wall Street. (Twitpic)