News to us: Poets and Quants reports that a Wharton 2010 grad is getting paid $350,000 this year to work in private equity. Right now, this very Saturday night, some Wharton Quaker (yes, that’s their mascot) is drinking bottle service and living it up in New York, where this private equity firm is allegedly located. Yow!
Meanwhile, there were some other pretty sweet salaries listed in the short summary of placement reports from the top programs in the country including Harvard, Stanford, Chicago Booth, Northwestern Kellogg, Columbia, Dartmouth Tuck and MIT Sloan.
Take, for instance, the $25,000 that another 2010 Wharton Quaker is earning for a “media and entertainment” industry job in the Midwest. That’s $12.50 an hour, assuming a 40-hour week. This is around the same hourly wage as a crew member at Trader Joe’s (which is not a knock to TJ’s, our fave grocery store).
To give some perspective: The bottle-service-private-equity guy and the-below-poverty-line-Harvey-Weinstein-aspirant probably went to a lot of parties together in Philly before they went their respective ways. We hope the first guy at least bought the second one a drink from time to time.
What’s up with this disparity?