<p>I believe both of you are right. If a Harvard grad was applying to an accounting position at lets say Ernst and Young as a CSU LB student, they would be paid equally depending on experience and possibly grades. But it is unlikely that a Harvard grad in economics would apply for such a position in the first place as much as these schools cross admit the same quality of students.</p>
<p>Now, if this job was Investment Banking then we are talking a whole new ball game. A CSU LB would have a tough time even getting an interview even with stellar grades, in fact, they would likely have to verify academic achievement with strong SAT scores. Also, there might be one non target school candidate among 10 from top target schools so the odds of getting a position even if he/she received an interview is slim. If they beat the odds and got the job, the salary would likely be the same since it is pretty standarized but getting that IB job from CSU LB is a long shot while a harvard grad has these firms at his/her finger tips.</p>
<p>Southpasadena: heh. the poster wants the highest salary out of college. The highest salaries are obtained through graduating at target schools. Its exactly as Mike said, you have a shot when attending a target school. This world doesn't work in the hypothetical "school withheld" manner, schools are a very integral part of the career process and extremely important for someone who's resume does not include much real world industry experience. And its not likly that a harvard grad will go for a similar job as a state grad. Harvard grads have access to alumni that are on average much more successful than state alumni, therefore, the harvard kids have more access to high paying positions.</p>
<p>Going to target schools also opens up internship doors. Therefore, the HYPS student may even have more experience, 6months or so, by graduation and be offered an even higher salary.</p>
<p>You seem to take note of my closing points. But I guess you must witness what job postings are in either career centers. The hypothetical realm is fine for theory but it doesn't apply to our business world.</p>
<p>SouthPasadena: Regardless of where you went to school, for most entry level jobs the salary is set and can increase or decrease slightly due to previous experience. </p>
<p>JPNguyen: Harvard econ grad (no undergrad business) vs. a CSU LB grad in accounting/finance will likely go after different jobs. Harvard grad would likely get an investment banking analyst position which he'll likely pull 120k that year, and a CSU LB will get an accounting job at Ernst and Young for 55k. So yes, Harvard grad will likely have higher compensation due to the fact that they have those lucrative jobs availible to them and not a CSU LB grad.</p>
<p>Both of you are right in your points but are arguing different points.</p>
<p>So, if a CSU LB ended up with an IB position, the base salary would be very close if not the same. (bonuses are performance driven) However, a CSU LB grad would not likely have an shot at that job while a Harvard grad would. If they both went after an accounting job at Ernst and Young then they would likely have similiar base salaries depending upon previous experience.</p>
<p>NextMikeSays: thank you for being so high and mighty with your summarizing. You do not seem to realize however that me and pasadena have said nothing wrong and JPNguyen is arguing a point that no one has brought up. He is talking absolute nonsense. </p>
<p>You do not address either of these issues in your summary. What a shame.</p>
<p>What a shame you haven't realized that never allude that you or SouthPasadena were wrong.</p>
<p>If you realized what I was saying, I was simply summarizing that they both had different points. Even if JPNguyen point was one that no one but himself has brought up.</p>
<p>I honestly don't understand where your hostility is coming from.</p>
<p>Nonsense? There aren't very many CSULB students who are able to enter into IBanking. So for the most part, school, determines salary. Why? Because if you aren't at a target school, you don't get into IBanking positions. The argument presented was hypothetical. I'm stating the facts and reality. How many IBanking positions are listed at a HYPS and how many are listed at CSULB? What's a higher paying position? (entry level accounting or financial analyst?) The original poster wants the highest salary, that's where school comes into play. Ibanking offers the salary he wants. My advice to go to a target school is the advice the original poster wanted. The best way to get that high salary that he wants.</p>
<p>Nonsense? More like, reality.</p>
<p>My argument makes absolute sense because it correlates with the original poster's request for the highest salary. If you're not at a target school, you have less chance of being recruited to the IBanking industry, which inevitably means, you'll have a lower salary. IBanking analysts make on average 100k per year after bonus. What other fields earn that much in the first year out of undergrad school? More so, how many undergrads earn that much out of school?</p>
<p>Its like what pasadena is trying to say, "If you make it into the industry, you'll have an equal salary." That's hypothetical. More so, its theory if you're trying to break in from a non-target school. Because the fact of the matter is that its harder for someone to even break into an industry from a non-target. Everyone knows that, why would you give someone faulty advice?</p>
<p>For anyone to believe that going to a top school doesn't help aid in getting a top salary, that's ****take. Because everyone and their momma would get entry level jobs with BA's from the University of Pheonix if that were true. </p>
<p>If you don't get a job, you don't get a salary. As post hoc as it sounds, its the truth. Good school, good job, good salary. It goes in that order(on average and for the most part).</p>
<p>Well I am a momma and my S who is a UChicago grad '05 with a math and statistics degree received $112,000 (incl. bonus) his first year out of college and then that firm "blew up" and folded and now he is at Goldman Sachs making $150,000 incl. sign-on bonus, etc. Not bragging - just giving some food for thought on what you should major in. Math is a good bet.</p>
<p>Me - I would get an entry level job b/c I have been out of the work world for a couple of years.</p>
<p>It depends on so many factors. Industry, position and region. Quality of the university or program does not usually determine salary, but generally speaking, top paying jobs typically go to top students from top universities and top programs. By top university, I mean top 20 or so private research universities, top 10 or so state universities and top 20 or so LACs. Top programs are harder to pin down. For example, IU-Bloomington's Business program is generally ranked higher than Georgetown's, but Georgetown probably places more students into high-paying jobs than IU. That's because IU students tend to have different aspirations and goals than Georgetown students and pursue vastly different career paths to reach those goals. </p>
<p>So, what's the highest salary an undergrad can land right upon graduation? There is no answer to that question. I am sure some undergrads land jobs that pay salaries well in the 6 figures. But if one were to cut out the outliers from the equation and look at the mid 98%, I'd say a basic salary of $70,000, along with a bonus of roughly $50,000 for a total of $120,000 would be considered "very high". Most undergrads start at roughly $30,000-$50,000 and bonuses usually average somewhere between $3,000 and $10,000. In short, a total salary of over $60,000 is not very common. </p>
<p>I realize this answer is vague, but the question does not leave much room for precision.</p>
<p>JPNguyen answer this for me - a Stern grad and a Harvard grad fill similar analyst positions at a BB firm. They have similar performance at work. </p>
<p>Will the Harvard grad get payed more just because the school he graduated from is so much better than Stern?</p>
<p>JPNguyen - when my S interviewed for his first job at the hedge fund, he beat out a Harvard and Wharton grad. He was hired along with a Stanford chem engineering grad. I think he nailed the math test and math questions and the interview. </p>
<p>For Goldman Sachs - he is one of the youngest and I don't know the degrees of his fellow employees. I know he mentioned one from UNC and UMichigan but those are people above him who have been in the work world for awhile.</p>
<p>JPNguyen answer this for me - a Stern grad and a Harvard grad fill similar analyst positions at a BB firm. They have similar performance at work. </p>
<p>Will the Harvard grad get payed more just because the school he graduated from is so much better than Stern?</p>
<hr>
<p>That's if the two get the same job. You happened to mention two similar schools. FYI. Stern may not be high in the rankings but its in the general recruiting vacinity of BB firms(New York). They will both get similar pay. And have a similar shot a BB firm. But you're missing my point. </p>
<p>Recommending! a state school is no way to help someone earn a top salary. Which is why I am trying to state a point in the first place that going to the better school equates to a higher salary(ON AVERAGE!!!!!) Because there aren't many outside of the HYPS that land IBanking positions. Its like 99%(2nd/3rd tier university grads) competing for a job where the 1%(HYPS) has the upperhand. Its truly a 1 to 99% difference when you're asking GS or MS employees where they got a degree.</p>
<p>Riddle me this: "If the kid from the state school doesn't even have access to an IBanking position, how can he make a comparable salary right out of college?"</p>
<p>But no one cares about the research that I did and the people I interviewed.</p>
<p>If school makes no difference to you guys, then don't apply at HYPS and schools in metropolitan areas. But it does make a difference for you. Kids from buckyeeol'saw idaho aren't likly to end up at BB firm.</p>
<p>you obviously have no reading comprehension. A student at U Iowa getting a job at goldman will recieve the same comprable salary to a Harvard grad getting into the same office, same group, same year end review, etc. When will you finally understand you are arguing something different, jesus christ you are annoying beyong measure. What your saying is true, but is a point you brought up by yourself to argue with others.</p>
<p>Southpasadena: You obviously have no training in argumentative approaches. You're providing a hypothetical approach. The possibility of that approach is highly unlikly. As with all of your arguments, hypothetical. I'm not talking about theorizing, i'm talking about the liklihood of an event happening. A student from U Iowa is not even likly to receive a position at Goldman because GS recruits primarily HYPS students. If the student cannot obtain the position, how can he get the same salary?</p>
<p>Should a student risk the chance of entering into a high paying industry by going to a state school? That's the whole basis of this argument. I wouldn't recommend it for someone who wants the highest salary possible out of college. IE the original poster's request, highest salary out of college.</p>
<p>Which is why I pointed out your statement that school makes no difference in salary. School makes a difference whether or not a person is exposed to a large number of IBanking positions(direct correlation with recruitment and salary). High paying positions. High liklihood of being recruited. High liklihood of entering the field.</p>
<p>Its risk management. HYPS provides a highly liklihood of obtaining an IBanking position(the highest paying position). By recommending the low risk approach, am I not recommending the best possible route to earning a large salary? You have been, essentially, telling people that going to a certain school plays no part in someone's chances of a high salary.</p>
<p>that is becuase you are clueless and have not heard of the Hawkinson Institute of Business Finance at University of Iowa were over 20 people a year are personally assisted by alumni and industry contacts. Hypothetical or not, you are confused....learn to read and understand, take apart what someone is writing....how are you ever going to succeed if you are already failing at a rather simple everyday task.</p>
<p>SCHOOl determines recruitment from top businesses, which traditionally pay more.... however pay has nothing to do with school. If i went to NYU and you went to Harvard and we both go the same jentry level job we will be PAID THE SAME. Pay is only based on performance</p>
<p>LOL. 20 people a year are assisted by alumni and industry contacts. What does that mean? Is that something you heard at a conference or read on a website. Because your statement sounds memorized. Go interview 10 people at a BB firm and you'll understand that HYPS is the best possible route to go. BTW, how many students attend the school? Is that 20 out of 1000. 2% chance doesn't seem that great to me. Hypothetically speaking.</p>
<p>Especially when you walk into a HYPS and see 200-300+ ibanking job postings for each quarter.</p>
<p>Yeah pay is the same if both can get the job. But how likly is it? Provide me with some evidence for your hypothetical approach. If you have written freshman level essays, you would know that you need to support your argument. Which none of you have. My support is the logical liklihood of an event happening.</p>