MBA News: Finance Jobs Wane but Overall Placement Holds Steady at Columbia
December 20th, 2012
The latest career report published by Columbia Business School (CBS) shows that finance recruitment for the Class of 2012 has fallen, after what seemed like a brief comeback in 2011. Columbia placed 50.3% of its 2011 class in the financial sector, but this number dropped to 41.8% in 2012—a reduction of approximately 64 students. As Poets and Quants suggests, the school, known for being “the quickest path to Wall Street,” is not unaccustomed to downturns in financial placements. In 2008, several of the school’s primary recruiters disappeared (Lehman Brothers, Bear Sterns) or made serious hiring cutbacks. Looking to the bright side, the overall placement rates for CBS remain strong, with 96% of graduates receiving job offers three months after graduation, the median base salary remaining stable and median signing bonuses increasing by $5,000. Consulting seems to have compensated for the lag in financial recruiting, reaching an all-time high of 32.6%, an increase of just over ten percentage points from last year or an increase of approximately 77 positions.
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