Last week, Vault's own Derek Loosvelt was interviewed by MBA Podcaster for " MBA Salaries in the Current Economic Climate: Investment Banking & Private Equity." As the title implies, they discussed salary trends in I-banking and PE, which have been flat this year, particularly for recent or soon-to-be MBA grads.
Derek has some good news for grads. He says, "Banks are still hiring. Right now the M&A market is increasing. So it's a good time for both those areas. Nothing is different from in the past in terms of getting a summer internship. If you want to go down the investment banking route it is probably going to be even more important than it has in the past." Why is the summer internship more important this year? According to Derek, companies will be hiring almost exclusively from their internship classes. "I expect, you [will] see a higher percentage of summer interns getting full-time offers in this year's class because there are fewer of them hired."
So current MBAs and soon-to-be students, you'd better brush off their resumes and work on their networking skills for recruiting this fall. Getting a summer internship is more important than ever.
Click here to read the full transcript or listen to the podcast on MBA Podcaster.
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