The industry’s freshest recruits are making more than ever — and doing less to earn it.
The New York Post reports that 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% of MBAs will make $125,000 — up from just 9% 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'.
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