Thursday’s Headlines: Number of Wharton MBAs taking Private Equity Jobs Jumps

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Despite Occupy Wall Street protests at top business schools around the country, more Wharton MBA students are accepting private equity positions upon graduation, according to the student paper The Daily Pennsylvanian. In 2001, 2.3 percent of the school’s MBA students accepted private equity and venture capital jobs, a figure which jumped to 7.65 percent in 2011.

For undergrads, it was a different story. The number of University of Pennsylvania undergraduate students accepting private equity and venture capital jobs fell from 7.7 percent in 2006 to 5 percent in 2011. The article did not say how the economy and industry changes affected those figures, but quoted a career services director from the school:

“Certainly there is a lot of student interest in private equity, but it remains a tough area to get hired in immediately after an undergraduate program. It is more typical for individuals to enter PE after working for a couple of years.”

The school is considered a leader in the study of private equity and has hosted the Wharton Private Equity & Venture Capital Conference for the past 17 years.

 

Other News:

London bankers stay put in the face of job and bonus cuts. [DealBook]

For bonuses bigger than $100,000, BofA now will pay 25 percent in cash and the rest in stock that vests immediately. [WSJ]

Large public pension plans had $220 billion of their assets invested in private equity in September, up $50 billion from a year earlier. [WSJ]

Cash-rich European corporations are poised for mergers and acquisitions. [Bloomberg]

RBS is nearing an agreement to sell its Hoare Govett corporate broking unit to Jefferies Group. [Businessweek]

Private equity firms focused on Indonesia have increased their fund-raising about fourfold from 2010. [Bloomberg]

Federal panel considers a pool of bank executives who could be called on to deal with failing banks. [Reuters]

Finra fined Merrill Lynch $1 million for bonus clawbacks. [Investment News]

BofA is the latest bank to use a Groupon-like deal to drive card activity. [WSJ]

Morgan Stanley’s Gorman: "If you put your compensation in a one-year context to define your overall level of happiness, you’ve got a problem which is much bigger than the job.” [Businessweek]

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