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average starting salary for harvard grads?

vj8923vj8923 Posts: 51Registered User Junior Member
edited June 2005 in Harvard University
Two questions:

What is the typical average starting salary for harvard undergrads upon graduation?

I've always heard that Harvard is funded greatly for its research in its graduate programs. Anyone know approx. how much money the univ. gets per year for funding?
Post edited by vj8923 on
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Replies to: average starting salary for harvard grads?

  • sakkysakky Posts: 14,759- Senior Member
    Harvard only has this information in hardcopy, not online, and I'm not in town right now so I can't check it.

    However, as a frame of reference, here are the Princeton starting salaries. I think it's safe to say that the Harvard numbers are going to be fairly close. In fact, the overall Harvard number might actually be a little lower than Princeton's, because Princeton graduates a larger proportion of engineers and computer scientists, and those guys tend to make the most money.

    http://web.princeton.edu/sites/career/data/surveys/CareerSurveyReport2004.html
  • sakkysakky Posts: 14,759- Senior Member
    As far as research funding goes, here are the accounting statements for fiscal 2004. Research revenue totaled about $590 million in fiscal 04, representing almost a quarter of Harvard's overall budget. Also notice that Harvard pulled in more money from research than from student fees.
  • thinkjose1thinkjose1 Posts: 1,427Registered User Senior Member
    I always thought it'd be higher.

    Wharton'04 was $25,000-$80,000 with $52,000 being the average.
  • headedsouthheadedsouth Posts: 82Registered User Junior Member
    yea jose and thats not even countin the bonus's most wharton students get which tend to be 35-45,000
  • sakkysakky Posts: 14,759- Senior Member
    Yeah, but that's Wharton. Obviously a preprofessional degree program is going to produce people who make more money than the average. For example, if I just looked at the EECS graduates from MIT, I would see a very high starting salary.

    When you look at Harvard as a broad spectrum, you will see that there are some majors that will make a lot of money, and other majors that won't make you much money at all. Harvard liberal arts students, for example, don't make a high average starting salary, just like Princeton liberal arts students don't make a high average starting salary, as shown by the data. On the other hand, it should not be surprising to find that Harvard computer science majors make a high average starting salary, just like Princeton and MIT computer science make a high average starting salary. The fact is, certain majors, especially the preprofessional ones, are more marketable than others. Now, will there be a few liberal arts majors that rake it in? Of course. Will there by a few computer science majors that get paid peanuts? Again, of course. But it is true that a Harvard computer science student will make a higher starting salary on average, compared to a Harvard liberal arts student. It's just that Harvard has a lot of liberal arts students.

    I would also comment about the jobs that those Wharton guys are getting. Generally, in order to get bonuses like that, you gotta be working in investment banking. The biggest turnoff about investment banking is the hours. You literally are working 80-100 hours a week. You may be making good money, but you're also consumed by the workload. A lot of people just don't want to spend their youths in the office like that. I know people who have gotten investment banking offers and turned them down because they didn't want to be working those kinds of hours. I know other people who worked for a short time and then quit, again, because of frustration with the hours. Money isn't everything. You have to think about what you're giving up to get that money.
  • vj8923vj8923 Posts: 51Registered User Junior Member
    Investment banking...What exactly is the job description for a first a first year investment banker? My cousin is one and she makes around 65K but averages 3 to 4 hours of sleep a day. She's transferring out because this job is really getting on her nerves. I would think its great though - she works in NYC for a one of the biggest banks.
  • prepster05prepster05 Posts: 416Registered User Member
    She only makes 65k in NYC?
  • unlimitedxunlimitedx Posts: 3,007Registered User Senior Member
    intreresting
  • thinkjose1thinkjose1 Posts: 1,427Registered User Senior Member
    First year, I believe.
  • prepster05prepster05 Posts: 416Registered User Member
    but still...i thought a lot of the top jobs started around 80k
  • eternity_hope2005eternity_hope2005 Posts: 524Registered User Member
    80K starting with an undergraduate degree? Are you joking? People with a master's (or any other sort of graduate degree) can make that kind of money. 65K salary with bonus is clearly above average for a starting undergraduate with just a bachelor's degree.

    Now with an MBA from a top school, your starting salary should be 2 to 3 times the amount of 65K but it takes time to get an MBA.
  • prepster05prepster05 Posts: 416Registered User Member
    you should do some research into i-banking. at top firms in NYC, analysts right out of college can make easily 80k. I know a kid who graduated from Yale last year who started this year at 110k (including bonuses).

    Harvard does not offer an undergraduate business major, so its usually engineering majors, math majors, and econ majors who get these jobs.
  • prepster05prepster05 Posts: 416Registered User Member
    and, by the way, a top undergraduate degree greases the wheels for a top i-banking job. Harvard, Yale, Princeton, and Wharton are heavily represented at the top of the i banking chain.
  • sakkysakky Posts: 14,759- Senior Member
    Yeah, but on the other hand, as an Ibanking analyst, you're working 90 hours a week. Think about that. I know several Ibankers, and they literally work M-F, 8Am to midnight (yeah, that's right, midnight), and still come in on the weekends to do more work. Before you jump into IB, think carefully about whether you really can endure those kinds of hours.
  • prepster05prepster05 Posts: 416Registered User Member
    8Am to midnight M-F and work on weekends? Sounds like me in high school.
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