An MBA from an elite business school was traditionally a passport to either a seat on the corporate board or to a very large salary on Wall Street or in the City of London. But all that is changing.

In the past decade the reputation of the financial sector, as well as the changing aspirations of millennials, have meant that many MBA alumni now eschew these roles. The headline data show a shift away from investment banking, once the most coveted job for elite MBAs, towards technology and entrepreneurship. However, all is not as clear-cut as it seems.

Traditional finance jobs maybe proving less attractive, but the world of alternative investments is booming, says Geoffrey Garrett, dean of the Wharton School at the University of Pennsylvania. And these jobs, he says, are vital to successful start-ups.