Music to the ears of aspiring MBAs, the days of whopping paychecks are back at Goldman Sachs. Goldman just posted a $3.4B quarterly profit and earmarked $11.4B for employee bonuses. If Goldman were to award all of these bonus dollars this year, employees would average $770,000 in compensation. So, if one were to find his … Read More
The Boston Herald recently reported that graduates from the Sloan School of Management at MIT are adapting to the changing job market. The head of career development at Sloan estimates that 80-85 percent of the class has a job offer at this time, only a 5 percent decrease from last year. What is noteworthy is the … Read More
In this morning’s New York Times Dealbook, Andrew Ross Sorkin reports that banks are planning to raise massive equity stakes to repay their government TARP loans. Why is this important news for MBAs? The answer is that as long as the banks have TARP money, they will have to change/reign in their compensation practices and … Read More
Recent news coverage about Wall Street banks have focused mainly on layoffs and government bailouts. And while it is true that thousands of finance jobs have been lost in the past year, the CNN article “Against Odds, Some Grads Find Wall Street Jobs” spotlights recent MBA graduates who have been able to find finance jobs. … Read More
According to an article published on Reuters, UBS—Switzerland’s largest bank—has decided to increase some investment banking salaries to “retain employees in critical positions” and compensate for lost bonuses. This trend may seem counterintuitive amid a recession, wherein many banks are losing money. However, UBS believes this kind of move is necessary to remain competitive with other banks making similar decisions. … Read More
