Despite all the volatility surrounding the financial services industry this year, it seems that the vast majority of MBA graduates continue to gravitate toward Wall Street! According to the Wall Street Journal, in 2011, employers such as banks, investment managers, hedge funds, private equity and venture capital firms hired 39% of employment-seeking graduates at Harvard Business School and Yale School of Management, 36% at the Stanford Graduate School of Business, and 51% at Columbia Business School.
While banks and other financial firms are experiencing massive layoffs, many continue to hire! An authority at Bank of America recently asserted, “We continue to hire top talent in areas of our business where we have identified growth opportunities and require additional staff to support customers and clients.” Meanwhile, a Goldman Sachs representative insisted that the bank is seeking “similar” MBA hiring for investment banking, as well as an increase in hiring for investment management. In addition, business schools, such as the Wharton School, still claim that the greatest percentage of graduates is hired into the financial services industry. Yet they also admit that MBA students are becoming increasingly more wary of the finance sector. More and more students are drawn to boutique firms and startups instead. It will be interesting to see how these hiring trends compare to those in 2012!