When it comes to money, the first thing Boston College students think of is CSOM. The Carroll School of Management is the third-ranked undergraduate business program in the nation and is comprised of BC’s most financially savvy students. They walk around calculating present values. They don’t check Instagram throughout the day; they check interest rates and stock prices. Their life’s work is the study of money, and CSOM students expect to get some back in return. Carroll graduates rank seventeenth in average salary among competing business schools. Pretty good, right? Sure, but former Boston College Eagle Johnny Gaudreau has all of CSOM practicing slap shots after signing a six-year, $40.5 million contract with the Calgary Flames.
To put such a deal in perspective, consider that with his $6.75 million per year, Gaudreau could pay for more than 100 Boston College tuitions annually, buy meal plans for half of the student body for a full semester, or afford to replace the Newton Bus with Uber Black SUVs for every freshman on Newton Campus for the entire year.
Gaudreau left BC for the NHL in April 2014, essentially making him part of the Class of 2014. The median graduating salary for BC students that year was $55,000, about 2/250 of what Johnny makes in a season. Now, to be fair, this is not Johnny’s entry salary. Those CSOM students in level two positions make an average of $85,496, 13/1000 of Gaudreau’s annual income.
That .013 percent of Johnny Hockey’s new deal might make CSOM students think twice. Those entering investment banking after graduation work anywhere from 70 to 100 hours per week. In contrast, Gaudreau plays 82 three hour games each year, meaning while you’re burning the midnight oil in some Manhattan sky rise working your butt off for every penny, Gaudreau is making his $6.75 million in just under 25,000 hours (though that doesn't account for practice, workouts, and physical therapy). Johnny also will have no issues finding time to spend his money, considering that there is no hockey from mid-June to early-October. That kind of vacation time isn’t even fathomable for the new analyst who hasn’t spent a day out of the office in three years.
All that in mind, by no means is this article encouraging students to drop out of classes and play hockey, but it may not be a bad idea to work on some stick handling between income statement calculations.