The $400,000 Entry-Level Hire

Missed this eye-popping entry from a Harvard MBA’s Financial Times diary late last year:

The leading private equity firms are handing out first year
compensation packages of more than $400,000. The banks and consulting
firms are on a feeding frenzy. Anyone with Chinese on their CV is in
hot demand. Next to private equity, the most coveted sector appears to
be real estate

Related posts:

  1. The Rise of Public Private Equity
  2. Collusion in Private Equity
  3. The Private Equity Boomlet
  4. Festishistic U.K. Fascination with Private Equity
  5. The Private Equity Bubble

Comments

  1. John says:

    I heard the same from a friend at Stanford. Of course this is probably true for only a few people, i.e. the 1 or 2 people that are hired by the 4 or 5 largest firms, but it is amazing.

  2. Giordano says:

    This is not only insane, it’s damaging to the market and to the people who get that kind of money. At that age, the majority of people can’t deal with that kind of income. I sold majority stake in my first start-up when i was 23, and as part of the deal I got a considerable amount of money.In 6 months I spent everything, and eventually I lost touch with reality.Now, I know eveyone will react differently to this kind of situation, but if you give that kind of money to someone fresh out of uni, how do you expect him to keep balance and not to think that he’s a superman? They are breeding a class of egomaniacs, and I fear most of them will become trainwrecks.

  3. Jon says:

    What James Kramer paid his best intern during his hedge fund days…

  4. Mr. Snoopy says:

    So, if I want a good job position being Chinese or Speaking Chinese is the ticket?
    I am in China right now.
    Any career guidance tips out there?

  5. rick smith says:

    To the dickhead that blew all his dumbmoney when he sold his company: you expect anyone to fucking cry over your story?
    The crime isn’t that these grads are knocking down 400k; it’s the idiotic clowns like you blow through a small fortune in six months.