Longtime Dealbreaker readers know that one of the most divisive issues around these parts and on Wall Street is the MBA vs CFA debate. Which one is harder to earn? Which one provides the most bang for your buck? Which one will better position you to become CEO of Goldman Sachs? Which one will send tingles up the spine of potential employers with a mere three little letters? Today brings a point for Team MBA, but specifically those earning their MBA in the year 2015, unlike the peasants of 2013.
Wall Street’s freshest recruits are making more than ever — and doing less to earn it.
Almost half of newly minted business school grads are pulling in $125,000 a year or more from banks, private equity firms, hedge funds and consulting jobs, according to a study of financiers out on Tuesday. Fully 43 percent of MBAs will make $125,000 — up from just 9 percent of MBAs who graduated in 2013. “We’ve seen these salaries rise the past few years, especially as Wall Street is more cognizant of retention issues and the quality of life concerns of their junior bankers,” Scott Rostan, CEO of Training the Street, which did the study, said in a statement. The sharp rise in compensation comes as more banks mandate their interns and associates take some weekends off and work fewer hours — leading some senior bankers to privately grumble about kids these days.