Harvard Grads Are Still Flocking to Finance

A blog about business and economics.
May 27 2014 1:00 PM

Harvard Grads Are Still Flocking to Finance

169664646-general-atmosphere-at-2013-harvard-university-362nd
What the future holds after Harvard.

Photo by Paul Marotta/Getty Images

Despite the allure of Silicon Valley, plenty of elite college grads are still heading to Wall Street, according to data released Tuesday by Harvard's student newspaper, the Crimson. Thirty-one percent of graduates pursuing jobs are taking them in the finance and consulting industries, roughly in line with figures reported by Harvard graduates in the wake of the financial recession. The data also indicates that the gender divide on Wall Street remains stark: 24 percent of men said they are going into finance, as opposed to just 10 percent of women. Perhaps in part because of that fact, the survey also found that 19 percent of employed men said they would earn a starting salary of $90,000 or more, compared with 4 percent of employed women.

The Crimson's stats—based on responses to an email survey from roughly half of the class of 2014—come amid debate over how much Silicon Valley is swaying elite college grads from lucrative paths in finance and consulting. Google is now considered the best company to work for according to a list compiled by Fortune while Goldman Sachs barely cracks the top 50. Kevin Roose, author of Young Money, has argued that Google is the new Goldman and that Silicon Valley is becoming the default for college grads. Technology and engineering drew 15 percent of employed Harvard 2014 grads and was the second-most popular option, according to the Crimson. But that's still well shy of what finance and consulting was able to attract.

Other fun facts about the Harvard class of 2014: 17 percent admitted to cheating on their academics (including 7 percent of those who see themselves going into government or politics in the long term). Twenty-one percent are virgins, but 12 percent have had 10 or more sexual partners. And of those who voted in the 2012 election, 80 percent did so for Obama.

Alison Griswold is a Slate staff writer covering business and economics.

 

TODAY IN SLATE

Politics

Meet the New Bosses

How the Republicans would run the Senate.

The Government Is Giving Millions of Dollars in Electric-Car Subsidies to the Wrong Drivers

Scotland Is Just the Beginning. Expect More Political Earthquakes in Europe.

Photos of the Crowds That Took Over NYC for the People’s Climate March

Friends Was the Last Purely Pleasurable Sitcom

The Eye

This Whimsical Driverless Car Imagines Transportation in 2059

Medical Examiner

Did America Get Fat by Drinking Diet Soda?  

A high-profile study points the finger at artificial sweeteners.

I Wrote a Novel Envisioning a Nigerian Space Program. Then I Learned Nigeria Actually Has One.

A Futurama Writer on How the Vietnam War Shaped the Series

  News & Politics
Photography
Sept. 21 2014 11:34 PM People’s Climate March in Photos Hundreds of thousands of marchers took to the streets of NYC in the largest climate rally in history.
  Business
Business Insider
Sept. 22 2014 9:39 AM Adrian Peterson Has a Terrible Contract, and Cutting Him Would Save the Vikings a Lot of Money
  Life
The Eye
Sept. 22 2014 9:12 AM What Is This Singaporean Road Sign Trying to Tell Us?
  Double X
The XX Factor
Sept. 19 2014 4:58 PM Steubenville Gets the Lifetime Treatment (And a Cheerleader Erupts Into Flames)
  Slate Plus
Science
Sept. 22 2014 8:08 AM Slate Voice: “Why Is So Much Honey Clover Honey?” Mike Vuolo shares the story of your honey.
  Arts
Television
Sept. 21 2014 9:00 PM Attractive People Being Funny While Doing Amusing and Sometimes Romantic Things Don’t dismiss it. Friends was a truly great show.
  Technology
Future Tense
Sept. 22 2014 7:47 AM Predicting the Future for the U.S. Government The strange but satisfying work of creating the National Intelligence Council’s Global Trends report.
  Health & Science
Bad Astronomy
Sept. 22 2014 5:30 AM MAVEN Arrives at Mars
  Sports
Sports Nut
Sept. 18 2014 11:42 AM Grandmaster Clash One of the most amazing feats in chess history just happened, and no one noticed.