The Million Dollar MBA Of The 2012 Class

By and large, the highest-starting salaries these days are being paid by private equity firms and hedge funds, which recruit far fewer MBAs than the elite consulting firms and investment banking partnerships that buy MBAs in the boatloads. This year, consulting firm McKinsey & Co. hired more than 550 MBAs, while Deloitte Consulting brought aboard 450 worldwide from some 40 schools.

HIGHEST PAID MBAS ARE ALMOST ALWAYS SPECIAL CASES

The very highest paid MBAs tend to be special cases, more often than not in private equity or hedge funds. To these first MBA jobs, they bring extraordinary work experience and track records that convince firms who want to hire the absolute best and brightest that they are worth the money.

In private equity and hedge funds that means hiring grads who already have been in the business–often as high-performing analysts for the same companies that hire them back.

“They are usually people who have done it and are going back in,” says Maryellen Reilly Lamb, director of Wharton’s Career Management Center. “These are not the average MBAs who are switching careers.”

The Manchester MBA who broke through the million dollar barrier was one of just 24 MBAs who gained jobs in financial services this year out of total full-time MBA class of just 91 graduates.

DON’T MISS: WHAT THE CLASS OF 2012 MADE THIS YEAR or TUCK MBA REPORTS $863K PAY PACKAGE

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