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MBA News: Wall Street Employees Receive Huge Pay Increases in the First Quarter

The evidence is mounting that now may be the time to apply to business school, especially if you are interested in finance. In addition to a less competitive applicant pool and an increase in opportunities for MBAs, new data now indicate that salaries in the financial field are rising. According to the Bureau of Labor Statistics, the average salary for those in the financial services industry in Manhattan rose almost 20% in the first quarter of this year. Bonuses were also much higher in 2010 than in the same quarter in 2009, though 2009 was a low base year. The average financial industry employee in Manhattan earned just over $100,000 in the first quarter of this year, up from last year but still down from the previous three years. Still, 3% is not that substantial a drop from the highs…




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