Berkeley MFE 2010 Placement Report

[Diep]

(Topic này chỉ mang tính chất gossip :D)

http://mfe.berkeley.edu/careers/placement.html

Full-time Statistics Class of 2010
% of Students With Offers 93% (60/63 were looking)
% of Students Placed 87% (60/63 were looking)

Average First Year Compensation: $156,294
Median First Year Compensation: $155,250
Average First Year Bonus (Includes Sign-on, UnG, Relocation, Other): $58,690
Median First Year Bonus (Includes Sign-on, UnG, Relocation, Other): $50,000

Average First Year Base Salary: $102,794
Median First Year Base Salary: $100,000

Top Recruiting Companies:
Goldman Sachs - 8
Bank of America Merrill Lynch - 6
Barclays Capital - 6
BNP Paribas - 4
Citigroup - 4

Internship Statistics Class of 2010
Total Students Placed: 62
% of Students Placed: 100% (62 of 63 students sought internship)
Total Offers: 96
Total Students With Offers: 62
% of Students With Offers: 100%

Average Monthly Compensation: $7,432
Median Monthly Compensation: $7,800


*Please note that we will edit our numbers every 15 days since some of our students are in final stages of interviews or currently making their choices. Posted 7/2/2010

[Quang]

Phê đấy nhờ. Em Diệp có thể cho cái statistics của chương trình mfe này ở CMU được không?

[darren1010]

Nhiều tiền quá...!!! Nhìn thấy phát ham luôn. Sau hồi đó mình không đi học chương trình này nhỉ $_$...!!!

[Diep]

Source: http://www.global-derivatives.com/forum/index.php?topic=7316.msg44105#new

Newgraduate

Do you really believe those salary numbers for 2010 (http://mfe.berkeley.edu/careers/placement.html)? If you do, may God help you.

We don't or at least most of us know that it is severely inflated. I am a current MFE student at UCB and we do not believe it. Or at least 4 people from my group in 1st Quarter and 4 people from current quarter do not believe it.

How can this be true when there are so many people with base salary in 80k? I remember talking to some people from the graduating class and they said 80 – 90k is what people regularly get as base but yearend bonus is what makes a guy rich. They had a pretty good offers.

I guess you also counted guys with internship offer (not real job) and their expected salary if they get full time offer as well. On top of that you added 10 - 20% premium on those inflated salaries and bonuses as well. Yes there are a number of guys who got just an internship offer after completing 1 year of MFE at UCB! I remember very well the day I landed in Berkeley and heard about placement statistics from the graduating batch. Believe it or not, many of us felt like we should just go back to our original jobs. But we are on a student visa!

Well UCB if you cared about ethics and consequences of violating UCB ethics so much, you would yourself not put out these numbers. Ohh I forgot you are the guys who enforce UCB ethics! I still remember the orientation day when you thundered each consequence of being unethical at UCB.

I am sure my classmates and alumni are going to come out and say how much of an idiot I am. Some will say she is fake and that she is just trying to prevent others from getting into UCB. But, at least people who have been through UCB MFE know it better even though you might try to sound different.

MFE at UCB is really great, you get a degree from one of the best business schools and you get good grades as well. After all about half of the class (more than 30) received A+ in the Stochastic Class or at least that is what the teacher said in the class (I will give A+ to half of the class). Which school in US gives out A+ to more than half of the class?

As far as teachers go, you have some great mascots like Rubinstein. He proclaims proudly in the class how he has not touched finance for 5 years and so can’t debate on anything current in finance. He might as well teach a course called “Finance as it was 5 years ago” or “Dinosaur in Finance”.

Long ago a career office in another really good school commented “I do not know how UCB people have so much gumption to cook those numbers”. But I guess you just do it and hope no one is going to speak up.

I am sure the UCB MFE office is going to come out with vengeance but it would not change the way we feel about those numbers. We all know it is a lie.

Blingster
« Reply #1 on: Yesterday at 05:01:41 PM »


Are you saying that you regret going to UCB just because of its placement stats? You no longer want to be a quant/MFE anymore? Is it all just about the first year salary to you?

Setting aside the ethical issue of misleading statistics (which by the way I do agree with you on this point), your first year salary out of school will always be low relative to experienced people on wall street. Once you have your foot in the door and prove to your colleagues that you are just as good as they are, you will get the raise/promotion/bonus. Its a meritocracy in the industry. It takes time, you need to pay your dues and be humble about it. Have you done research into how much experienced quants are paid? Have you looked at LinkedIn and seen all of the great jobs that UCB MFE alumni have in the industry?

Are you a career switcher? I am. I gave up a nice paying job in engineering last year to do a MS program and applied to UCB. I did not get in, and I would gladly trade positions with you.

I consider you to be very lucky/fortunate to have such a great institution to put on your resume. It will help you for the rest of your career. Dont worry about the first year salary, if you have no work experience, then it will be hard for anyone to describe to you what it means to pay your dues as a new employee.


ligmania
« Reply #2 on: Yesterday at 08:26:40 PM »


Newgraduate - I don't know who you are, but I'm a current MFE student at UCB also, and those numbers don't look all that outrageous to me. I just got an internship offer which pays about the same as the FT stats posted on an annualized basis. And I expect the FT offer to be higher.

Also judging by your nickname - you're a fresh grad? If so - do you seriously expect to be offered a 6 figure salary with your "experience"? This is an average salary. Fresh grads like you will get 80-90k base, and phd's will get 120-150k base. On an average that will be about 100k base. How did you get into this program if you can't do simple math?

You are either highly bitter or just not an MFE student. I suspect you're just same random poster which is all the more reason why people should not trust these online forums.


Newgraduate
« Reply #3 on: Yesterday at 11:35:42 PM »

The grape is not sour. It's quality is not as good as I had thought.

Good luck to you juggling insurance at GS. Wasn't it one of the guy from France who got into GS. Does it prove that I was at the orientation as well? That's what you will tout if you ever get there....I work at GS and that's about it. Because you will be playing with insurance and doing other janitorial work at GS. Did someone not say that people got into GS but their profile is not worth talking about.

By the way I also got A+ in Stochastic but there has to be some satisfaction in education and learning. I hate the idea that so many other people who do not deserve got A+ as well. So who got C in Stochastic by the way? Looks like you or someone in your group....lol.....we all got A+ and A in my group.

Rubinstein's class. If you think that was fantastic, then it implies you knew nothing about derivatives and finance before coming to UCB. You also probably enjoyed solving Simple Interest problems from his assignments. I am sure you used calculator for the number crunching and later that evening called your mother boasting about playing with interest rates. So, did you lie on your application as UCB implicitly requires that a student should have basic back ground in Finance, Math and Programming to be accepted into the program? Basic background means knowing most of Rubinstein's course before coming to UCB. Ligmania you lied, didn't you?

Well as far as my internship offer and background goes: I am not new to finance so I would not just accept any offer or apply for any company that comes for interview. For your kind knowledge I have declined at least one offer.

"120-150k base" are you living in lala land? Some do, most don't. Looks like you will join me in chorus "it is fake, it is fake" next year. I will wait till then.

Just because I do not regret coming to UCB does not mean that I like the culture of high grade and fake education here. I am sure I will get a good job and internship but I wanted to learn as well. This is my first masters degree and I did not want it to be fake.

[Diep]

Phê đấy nhờ. Em Diệp có thể cho cái statistics của chương trình mfe này ở CMU được không?

94% of the class of 2008 (graduating Dec. '07) were employed by graduation,
97% within three months of graduation.

77% of the class of 2009 (graduating Dec. '08) were employed by graduation,
87% within three months of graduation.

79% of the class of 2010 (graduating Dec. '09) were employed by graduation,
88% within three months of graduation.

Placement Report 2009
1. Base salary:
- Mean: 87,398
- Median : 90,000
- High : 120,000
- Low : 65,000
2. Signing Bonus
- Mean : 24,294
- Median : 20,000
- High : 50,000
- Low : 5,000