Executive MBA- and MBA-holders earn the most money of all finance professionals, according to Emolument, a salary benchmarking website that collects self-reported pay data.
Emolument gathered data on 840 finance professionals in New York at the analyst, associate, vice president, and director level, and looked at which degrees the earn them the most money.
Respondents come from a number of firms, including Citigroup, JPMorgan, Deutsche Bank, Barclays and Bank of America Merrill Lynch, as well as smaller banks, asset managers, and hedge funds. They are all front-office professionals, and two-thirds work at banks, while one-third works the buy-side.
Of course, it shouldn’t come as a surprise that MBA-holders earn the most money. Executive MBAs and MBAs come in on top largely because Wall Streeters typically take those programs later in their careers. So the majority of people with MBAs are going to be vice presidents and directors, and therefore higher earners.
Still, the data helps shed some light on how much Wall Streeters earn at various stages of their career based on their college degree.
Here’s a look at the most lucrative degrees on Wall Street at every professional level.
A more detailed look at Wall Street pay across all levels shows that MBAs and executive MBAs earn the most, followed by PhDs, and Masters of Finance.
The overall Wall Street sample is big enough to include additional degrees, while the breakouts by title have too few data points to include anything other than the five most common degrees.