Economic review

Wall Street losing appeal to MBA graduates

2017-08-11 10:19:00 (Beijing Time)         Xinhua


Wall Street investment banks are becoming less enticing to MBA graduates in the United States, a recent survey showed, with only 19 percent of respondents saying bulge bracket banks were a top employment choice.

The ratio is much lower than that of 26 percent last year, and marks the lowest level in the eight-year history of the survey, according to Training The Street, a company offers technical training to financial firms and business schools.

"Banks are still a dominant hiring force for MBAs and continue to attract top talent, but working for larger, established companies off of Wall Street is becoming more attractive to MBAs as they offer a different type of lifestyle," Scott Rostan, founder and CEO of Training The Street, told Bloomberg.

Top choices included consulting firms at 20 percent, corporate development at a Fortune 2000 company at 13 percent and boutique banks at 12 percent. One sector that lagged behind was startups, which were the top choice for only 5 percent of MBA graduates.

"MBAs want to make sure the job they accept is going to be a good, long term fit," Rostan said. Wall Street and startups, however, are famous for sudden job moves.