WEDNESDAY, APRIL 26, 2017
THE INDEPENDENT STUDENT NEWSPAPER OF THE UNIVERSITY OF PENNSYLVANIA
>50% of employed penn students go into 3 industries SEE MORE AT THEDP.COM/THE-JOB-SEARCH
Employment By Industry
Finance Consulting Technology Healthcare Education Communications Other
Trump’s new budget will cut Penn climate research
Manufacturing Services Non-Profit
Nearly half of 2016 Penn graduates who took full-time jobs worked in finance or consulting
Government Insurance Energy
CAROLINE SIMON | Senior News Reporter
Fewer graduate and postdoctoral students will be able to do research OLIVIA SYLVESTER Staff Reporter
Average Salary By School
Faculty and students involved with environmental research at Penn may soon have to adapt to reduced funding. Agencies like the Environmental Protection Agency, the Department of Energy, the National Science Foundation and the Department of Agriculture provide federal funding to universities for a range of research. Trump’s proposed budget will cut funding for the EPA by 31 percent, hurting the amount of environmental research that Penn can conduct, Vice Provost for Research Dawn Bonnell said. The EPA has provided $1.2 million for research to the School of Arts and Sciences, the School of Design and the Wharton School, while the Department of Energy provides approximately $6 million annually to Penn. The National Science Foundation granted Penn approximately $46 million last year, some of which went toward environmental and climate change research, Bonnell said. Bonnell added that research in climate change would especially be “targeted for cuts” given that the “proposed budget shows the priorities of the [Trump] administration.” She also noted that less research would be detrimental to graduate students studying topics related to environmental studies. “If the amount of federally funded research goes down, then there would potentially be fewer graduate students or postdoctoral associates supported to do research,” Bonnell said. Bonnell and other administrators are working with the Association of American Universities and other nonpartisan advocacy groups to voice concerns over the impact of these budget choices. Penn is also working with peer institutions to be “making cases [on behalf of research] at the
90,000 85,000 80,000 75,000 70,000 65,000 60,000 55,000 50,000 Avg. Across Schools
College
Engineering
Wharton
Nursing
Top Employers University Wide (Number of Students)
CHOP 40
Penn 30
SEE RESEARCH PAGE 9
We ask that you consider that many conservatives do indeed hold compassion for others ...”
The Price of prestige
Goldman Sachs 29
Penn Health System 29
Google 28
JP Morgan Chase 26
Boston Consulting Group 28
Morgan CitiStanley group 19 18
Deloitte 23
Penn students rarely bat an eye when they see clusters of their suit-clad peers rushing off to Huntsman Hall, clutching leather-bound folders. On this campus, companies like McKinsey & Company and Goldman Sachs Group Inc. are household names. Career Services emails, campus flyers and advertisements in The Daily Pennsylvanian are populated by prestigious banks and consulting firms. It is commonly understood that Penn students, more than their peers at similar institutions, flock to careers in finance and consulting after graduation. Nearly half of 2016 Penn graduates who took full-time jobs worked in those two industries, with 25 percent in finance and 17 percent in consulting. Meanwhile, only a quarter of 2016 Harvard University graduates entered these two industries — 14 percent accepted full-time offers in “financial services,” while another 11 percent went into consulting. Yale University, Princeton University and Cornell University each had a little over a quarter of their 2016 graduates accept full-time offers in the two sectors. While large paychecks — which can often climb into six digits and beyond — are enticing aspects of finance and consulting, they are not all that draw Penn students to join these industries. Often, there is something else at play: prestige. “You have seen the pyramid narrow as you moved along. You went to high school, you did well in high school, you got into a very competitive, selective university, you’ve done well here,” Patricia Rose, director of Career Services said. “Do you want to become a tool and die maker in Illinois? That might be a terrific opportunity, but you probably want to go to an employer that has made it known that they are prestigious and selective.” Top-ranked investment banks and consulting firms are known for accepting large classes of recent college graduates from each year. In 2016, Goldman Sachs hired 29 new employees from Penn, Boston Consulting Group hired 28, JPMorgan Chase hired 26 and Deloitte hired 23. All of these companies ranked among the top 10 employers for Penn students last year. Over time, technology companies have also joined the ranks of firms known for hiring large numbers of Penn students — Google hired 28 of the 2016 graduates last year. While tech has ballooned in prominence, Rose said investment banking has also grown more popular over the last few decades, and consulting is always a popular option as well. The camaraderie fostered by large numbers of SEE PRESTIGE PAGE 7
SABINE NIX | DESIGN ASSOCIATE
- Taylor Becker PAGE 4
END OF THE YEAR AWARDS
Clothes swiped from laundry room Quad residents have lost thousands of dollars of apparel
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CATHERINE DE LUNA Staff Reporter
JOY LEE | NEWS PHOTO EDITOR
Penn Residential Services advises all dormitory residents to keep a close eye on their clothes and to utilize the laundry monitoring service.
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Laundry in the Quadrangle is free of charge, but that doesn’t mean it won’t cost you something. Various Penn students have reported experiences of stolen laundry. College freshman and Daily Pennsylvanian Copy Associate Nadia Goldman said she had some of her clothes taken in the Class of ‘28 laundry room in Fisher-Hassenfeld College House. Goldman said she left a load of clothes in the dryer but when she returned, she found the dryer open.
“I didn’t really think anything of it,” Goldman said. It was only when she went through her laundry that she found about $250 worth of clothing was gone. “I wanted to bring this dress home for Thanksgiving. I couldn’t find it, and then I realized an expensive jacket was missing and some leggings,” she said. She said she then went to former Fisher House Dean Shauna Patterson, who suggested she file a police report. Goldman said she decided against it because it didn’t seem necessary for her situation. College sophomore Nancy Huhad two weeks worth of her laundry SEE LAUNDRY PAGE 3
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