MBAs Say Banks, Consulting Recruiting is “INTENSE”
By BankersBall on Mar 18, 2007 in Consulting, Cube Life, Job Hunting, M.B.A.: means business, a**hole
A reader points us to this B’berg article on how banks and consulting firms are stepping up their on-campus recruiting efforts of MBAs. Turns out there’s mad demand for them, right now, at least. So much so that yes, salaries are going up, they’re getting slipped tons of cash in big bags, etc etc. Unfortunately for those of you not yet in school, chances are it’s too late to capitalize on this wave of demand, and by the time you go and get out, you’ll be part of a huge bubble of MBAs that have gone to school to capitalize on this wave of demand.
The interesting info about this piece is that firms are holding 10-15 sessions per recruiting season, which is not surprisingly creating an “intense” recruiting environment. Wharton has limited companies to visiting three times per academic year to “reduce the frenzied perceptions by some students that they had to attend all 15 events to show they were really interested in a particular company,” Michelle Antonio, director of the career management office tells Bloomberg.
Meanwhile, a top Citigroup recruiter explains that the firm’s aim is to be on campus anywhere from 1x per week or once every 2 weeks.
Total comp figures of last year’s grads, which you can access in detail on the websites of MBA programs, is summarized below:
- Harvard: $186,174
- Stanford: 183,000
- Columbia: $169,194
- Wharton: $167,607
- Kellogg: $150,942
- Sloan: $148,081
- GMAC reports average salary for MBAs was $92,360 / signing bonus was $17,603.
On Mar 19, 2007, Stock Slinger said:
If you want to make money go against the crowd. This is simply a reflexive feedback to the current situation facing employers of MBA “talent”. MBA’s all think they are suited for hedge funds (most of whom are not suited, as MBA’s are not especially creative, lack trading experience, as well as the nerves and discipline required). They flock to hedge funds, decreasing the supply of talent for banks and consulting firms. Banks and consulting firms lure more recruits through higher pay, perks, etc.. The MBA’s flock back, and the cycle begins again. Although, hopefully, most MBA’s avoid bothering with hedge funds in the future, as most aren’t suited for this sort of job, and lack skills that are value adding to this industry. Its annoying when, as a trader who has been practicing his craft since he was 12, sees some wannabe kiss up MBA type all of a sudden interested in hedge funds for the simple reason of making a lot of money. Get ready to be crucified in the interview.
On Mar 20, 2007, meandjoemoomoo said:
in case you forget about this during your senseless diatribe: not all hedge funds are trading oriented. what about deep value guys? distressed? leveraged lending? event driven?
i would imagine a “star” trader would kind of have a hard time strucuting an L+750 loan to own on a refinery asset or is that something that he’s been doing since he was 12 as well?
“stock slinger” my lilly white ass…more like dick smoker.
On Mar 20, 2007, dirtchutewarrior said:
hahahaha. very funny meanandjoemoomoo.
On Mar 20, 2007, Stock Slinger said:
All in the days work my love.
On Mar 20, 2007, Stock Slinger said:
No need to get emotional, I understand that not all hedge funds are trading oriented. Baupost Group, Chapman Capital, etc. focus more on value, agreed. I also utilize event driven trading. I admit I probably have been talking too much trash and I apologize. I’ll grow up if you’ll do the same. Cheers.
On Mar 21, 2007, meandjoemoomoo said:
apologize??? you admit defeat too easily. i am talking much trash and i am proud of it. as a top 5 MBA and a career PE and HF guy, you are right: MBAs are generally a bunch risk averse, ass kissing dipshits looking for HF and PE glory without understanding the first thing about either and generally require hand holding ad infinitum to get preparee to put real capital at risk.
keep talking, stock slinger aka dick smoker, and don’t bother growing up anytime soon because i certainly don’t plan to…
On Mar 22, 2007, dirtchutewarrior said:
dude, you must be french the way you rolled over on your back so easily. two words: maginot line.
On Mar 28, 2007, stockslinger said:
On the contrary, you have admitted defeat- “as a top 5 MBA and a career PE and HF guy, you are right: MBAs are generally a bunch risk averse, ass kissing dipshits looking for HF and PE glory without understanding the first thing about either and generally require hand holding ad infinitum to get preparee to put real capital at risk.”
Keep the trash talk coming. I’m loving it because your such a doosh bag. And dirtchutewarrior, your a homo.
On Mar 28, 2007, stockslinger said:
I like you guys you crack me up. Keep the trash talk coming.
On Mar 31, 2007, meandjoemoomoo said:
very good, dick smoker. you can read. the point is that you are not qualified to comment on anything of consequence so my guess is that you are gunning to become my desk assistant that i send out with my cell phone to read the menus of every place i feel like ordering lunch from (you know how i love the wolf and lamb - don’t forget!).
you also are probably a graduate of one of new yorks finest educational institutions a-la SUNY Bingampton with like a 3.0 in psychology or something so I would imagine you have no shot at a quality MBA program or a quality job so you sit around your mother’s basement in Staten Island trading round lots of a hundred thinking “dude, if SAC would just read my resume…”
i reiterate: dick smoker is a far more plausible moniker than stockslinger. And yes, anyone with the name “dirtchutewarrior” is a veritable homo. are you interested in his offline info? i’m sure you two have tons to “talk” about…
On Apr 1, 2007, stockslinger said:
Wrong on all counts, cunt. One thing I despise are losers like yourself who probably went to some crappy public high school, got lucky and get into a real college, and now that your on Wall Street you think you’ve made it. Still, money can’t buy class, so you go to chic restaurants like dos Caminos, thinking you’re special, when in reality you have no taste whatsoever. Also, learn how to capitalize the beginning of your sentences, you ignorant fuck hole.
On Apr 3, 2007, meandjoemoomoo said:
weak
On May 7, 2008, Kiss teh God said:
No need for cursing, each other.
Let us make some cash and elect Obama.