Harvard Business School graduates on Wall Street

Why Harvard Is Bad for Wall Street
Obscure Economic Indicators Part 6: Harvard Business School graduates on Wall Street.
By Daniel Gross
Posted Friday, Nov. 19, 2004, at 2:10 PM PT

The bright young things from Harvard Business School are making their way to Wall Street in droves. Some 26 percent of the HBS class of 2004 took stock-market related jobs, up from 23 percent of the class of 2003. I guess that means it’s time to sell.

Consultant Ray Soifer (Harvard MBA, 1965) has been tallying the career paths of fellow HBS alumni for several years, and what he has discovered confirms what every Yalie has always suspected: Harvard is bad for America. (The raw data since 1998 can be seen at the HBS Web site. Click here, pick a year in the left window, and then select “by industry” in the right window. Before 1998, the information was published in an alumni magazine.) Soifer has found that the initial career choices of HBS grads amount to a “rather esoteric but nonetheless generally accurate long-term indicator of the US equity market,” he notes in his most recent report.

continued….