Wall Street’s Latest Campus Recruiting Crisis Sparked by Goldman Controversy – NYTimes.com

15 Mar

The best and the brightest don’t want to work on Wall Street anymore.

College students who were once attracted to prestigious banks like moths to bonfires are increasingly turning to other industries in search of success. Insiders say that pained testimonials of industry life can scare off would-be financiers from even applying for jobs at the most selective firms.

“This is a significant problem for Goldman,” said Adam Zoia, the chief executive of the placement firm Glocap Search, whose clients include many aspiring big-bank employees and hedge fund workers. “Their perch of being the investment bank to go to is definitely at risk.”

One former Goldman analyst recently decided to leave the firm after the rewards of a finance job no longer seemed to outweigh the costs. The former employee is now working at a small technology start-up for less money.

via Wall Street’s Latest Campus Recruiting Crisis Sparked by Goldman Controversy – NYTimes.com.

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