Tulane University Freeman School BLOG

Will -

Q: I’ve read that the average exit salary is around $80K gross. Is this accurate? If so, what is the reason for that? It is hard for me to imagine getting paid this amount in the finance industry. This number seems to be significantly less than other schools which I am considering.

A: In this regard, I read the same materials as you do. This general number is correct as the school releases it and I have seen it. As to why it’s that low, probably because we have a lot of people stay in the southeast and the cost of living is generally cheaper. 80K in New Orleans is a great salary, at least in my opinion. I am sure that people shooting for Wall St. do better because the cost of living is so much higher. I remember when I was applying to schools I looked long and hard at Boston University and Georgetown too. I used bestplaces.net/col to determine what the comparable cost of living was. I just put in 80K in New Orleans and it says the equivalent standard of living is 128K. I think that pretty much sums it up. 80K in the south is that same salary in NYC. Remember, it’s an average and we have plenty of people go to New York, we also have people go to non-profits and several BA/MBAs that graduate in 5 years to get their first job.

People stay in New Orleans because it’s a beautiful place to live. Say, for example, you get offered 115K in New York, and 80K in New Orleans, you’re actually making more money by staying down here, and you get to eat crawfish and jambalaya and its warm. I’d stay too.

Hope this helps clear things up! Ask any more questions in the comments.

Will, will.donaldson@gmail.com

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