Link to: Who Hired 2016 Grads and What they Got Paid
Here’s an analysis of LinkedIn user data by the company’s Education & Millennials Editor. The analysis is entitled Here’s where 2016 grads went to work — and how much they got paid. The study is based on the company’s internal data so it skews heavily white collar. I found the first two tables to be pretty eye opening. Your thoughts?
Not at all surprised by the first table. Financial services and audit/consulting are grindhouses for business grads.
A huge percentage of grads in accounting end up going through one of the big audit/consulting firms when they get out of college, and then the vast majority of those will move on to something else once they get some big firm experience under their belt, unless they’re laid off first (these firms are serial offenders on keeping people for 9 months and then letting them go, the big audit firms have in a lot of cases started acting like seasonal employers for lower end accounting personnel).
Banks like State Street also grind through graduates, pools of people with no experience sitting around in a large office answering phones from investment customers.
What surprises me is the entry level for consultants, I’ve never seen that kind of money in Boston. The accountant number there looks more representative of what business grads can reasonably expect (50 to 60k, at best, maybe they’re rolling some other sort of benefits in there, or signing bonuses, or the annuals that are either prorated or you’ll never get because you’re cut loose before they’re paid).
At these types of companies, you’re either moving up or you’re going out the door to make room for the next generation of cheap grads.