Harvard Grads Are Still Flocking to Finance

Moneybox
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

Smash and Grab

Will competitive Senate contests in Kansas and South Dakota lead to more late-breaking races in future elections?

Stop Panicking. America Is Now in Very Good Shape to Respond to the Ebola Crisis.

The 2014 Kansas City Royals Show the Value of Building a Mediocre Baseball Team

The GOP Won’t Win Any Black Votes With Its New “Willie Horton” Ad

Sleater-Kinney Was Once America’s Best Rock Band

Can it be again?

Technocracy

Forget Oculus Rift

This $25 cardboard box turns your phone into an incredibly fun virtual reality experience.

One of Putin’s Favorite Oligarchs Wants to Start an Orthodox Christian Fox News

These Companies in Japan Are More Than 1,000 Years Old

Trending News Channel
Oct. 20 2014 6:17 PM Watch Flashes of Lightning Created in a Lab  
  News & Politics
Politics
Oct. 20 2014 8:14 PM You Should Be Optimistic About Ebola Don’t panic. Here are all the signs that the U.S. is containing the disease.
  Business
Moneybox
Oct. 20 2014 7:23 PM Chipotle’s Magical Burrito Empire Keeps Growing, Might Be Slowing
  Life
Outward
Oct. 20 2014 3:16 PM The Catholic Church Is Changing, and Celibate Gays Are Leading the Way
  Double X
The XX Factor
Oct. 20 2014 6:17 PM I Am 25. I Don't Work at Facebook. My Doctors Want Me to Freeze My Eggs.
  Slate Plus
Tv Club
Oct. 20 2014 7:15 AM The Slate Doctor Who Podcast: Episode 9 A spoiler-filled discussion of "Flatline."
  Arts
Brow Beat
Oct. 20 2014 9:13 PM The Smart, Talented, and Utterly Hilarious Leslie Jones Is SNL’s Newest Cast Member
  Technology
Technocracy
Oct. 20 2014 11:36 PM Forget Oculus Rift This $25 cardboard box turns your phone into an incredibly fun virtual-reality experience.
  Health & Science
Bad Astronomy
Oct. 21 2014 7:00 AM Watch the Moon Eat the Sun: The Partial Solar Eclipse on Thursday, Oct. 23
  Sports
Sports Nut
Oct. 20 2014 5:09 PM Keepaway, on Three. Ready—Break! On his record-breaking touchdown pass, Peyton Manning couldn’t even leave the celebration to chance.