Graduates of this Californian university can boast the best salaries in the financial industry.
According to a recent ranking by the Financial Times, Stanford Business School’s alumni have made the best careers in the financial sector.
Stanford, famous for its innovation potential, became the first in the ranking of 50 best financial careers. The survey is based on data obtained from alumni who have jobs in the financial industry and graduated three years ago. The questionnaire included questions related to salaries. The second and third places were taken by Harvard and Judge business schools respectively.
Why finance?
The financial sector is the most generous employer for freshly graduated MBAs. According to Financial Times data, 27% of 2013 graduates have found jobs in finance, which exceeds the consulting industry by 10%.
The schools ranked in the list do not offer specialized financial MBA programs. The criterion for getting included in the ranking was having more than ten graduates in the financial sector.
Thirteen criteria were used to evaluate the 50 business programs (not excluding the amount of salary and its increase as a result of promotion). Another point taken into account was the number of studies published by the university’s teaching staff in global financial journals. The general percentage of finance-employed graduates was also included in the analysis, as well as the number of alumni who were employed in this industry even before starting their MBA studies and the quantity of former students who switched to finance from other careers.
What Working in Finance Entails
Almost thirty per cent of Stanford Business Schools’ graduates found employment in the financial sector, and they are getting the highest salary among the other fifty universities – it equals $266,000 annually. On average, this is a more than 100% increase if compared with their salary before they decided to pursue an MBA. Stanford’s graduates have also taken the top spot for promotion and career progress.
Still, not everyone is craving to start a career in finance, leaving their previous ambitions. Only 15% of graduates decided to drop their former career and start over in the financial sector.
The highest increase in salaries was registered in the Darden School, which, although it got the 17th spot, saw a 150% rise in its alumni’s remuneration. Among other nominations, the following should be mentioned: Judge Business School – value for money; Kelley School – career services; Ross School – best satisfaction results; Stern School – research; Melbourne School – gender balance; Esade School – internationality among the student body; HEC Paris School – international mobility.
Overall, more than eleven countries took part in the survey, and half of the ranked schools are headquartered in the USA. The next country according to the number of presented schools is Great Britain, then China.
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