Would you rather work for a bank or PE fund?

So where do the best and brightest go today? Private equity funds of course. And why not. The Financial Times' Alphaville notes that business school graduates that joined a top private equity firm earn more than $400,000 in salary and bonus in 2007-08 and could make up to $5 million over several years (Glocap and Thomson Financial). First-year associates at top investment banks, meanwhile, can expect to earn $70,000-$80,000 in base salary plus bonuses of $60,000-$80,000. Even in the face of the credit crunch, private equity firms have not lost their cachet, while hedge funds and to banks have seen a bit of tarnish collect on their good industry names. The bright folks, for better or worse, will all follow the money. There was a day when the smartest kids wanted to become doctors.  

For more:
- here's the item