Those graduating with MBA degrees from US business schools this summer saw a rise in job offers from Wall Street firms, particularly the investment banks. Indeed, MBA candidates often received multiple job offers in the finance sector, according to the latest annual survey from Training the Street (TTS), a corporate training company for both Wall Street firms and business schools.
According to the survey of 200 students, which was conducted over the past few months, 40 per cent of those students surveyed had between four and seven first-round interviews, while a further 23 per cent had between one and three. Perhaps the most surprising results were the 12 per cent of respondents had more than eight interviews, and 19 per cent were interviewed more than 10 times in the first round.
All of which is a significant shift from a few years ago, says Scott Rostan, chief executive of TTS, “The Wall Street hiring environment continues to improve, and investment banks in particular are willing to invest in top talent,” he says. “What’s also clear is that other financial and professional firms now feel the need to hire as well, and strong candidates have their choice of where they’d like to work.”
On salaries, 47 per cent of respondents said their offer included a starting annualised base salary between $100,000-$125,000, with 21 per cent receiving between $76,000 and $99,000.
When asked about their satisfaction with their employment offers, 45 per cent of respondents said they were “very satisfied,” with 32 per cent answering “satisfied”. Only 8 per cent reported that they were “dissatisfied” with the jobs they had been offered.