Students said they'd expect to be paid a base salary of $63,695 one year after graduation in "auditing/accounting/taxation," which was lumped together as one sector for this survey. After five years, they would expect to earn $111,135.

Of the 47 sectors evaluated, the accounting sector received the lowest expectations. The next lowest expectation was academic research, at $77,859 one year after graduation and $132,282 after five years. The highest pay expected one year after graduation is in venture capital, at $107,919. After five years of graduation, the highest pay expected is in metals at $346,566.

The annual survey, conducted for Fortune by Philadelphia-based firm Universum, also found MBA students' favorite companies to work for. Google takes the top spot, knocking McKinsey from its 2006 top spot into the second position. Interestingly, 21 percent of the students ranked Google in their top five.

The top 10 are:

1. Google
2. McKinsey & Company
3. Goldman Sachs
4. Bain & Company
5. Boston Consulting Group
6. Apple
7. Microsoft
8. General Electric
9. Nike
10. Bank of America

The 2007 survey also asked students to identify the key sectors they'd most like to work in. Twenty-two percent of all students said management consulting --which also garnered the third-highest pay expectations -- followed by financial services, consumer goods, investment banking and venture capital.