70k is not a huge salary in banking, for someone starting out it is very excellent. i dont know who will be willing to pay him 70k for the year, in his first year, assuming that he has very little or no experience. and his degree choice, history, is good, but i would imagine that there will he will be competing with others who have degrees in economics or maths etc, from similarly ranked institutions.
but 70k income for the year is perfectly possible, his salary may be way less, but bonuses is where it counts, and there are huge bonuses to be made in the industry.