Despite the refrain that the financial crisis has discouraged students from pursuing jobs in finance, the number of elite students who continue to seek lucrative positions at financial firms indicates that Wall Street has not yet lost its luster.
The New York Times reports that as this year’s recruiting season begins, some students say they view finance positions as springboards for later careers, while others are drawn to the challenge and fast-paced environment. Still others are, naturally, motivated by the high salaries that Wall Street offers.
But perhaps, some say, Wall Street’s allure is fuelled by the colleges themselves, which allow recruiters to hold sway on these students.
'Wall Street’s influence has led to a situation where students are more likely to become bankers than doctors,' said Laura Newland, who self-published a book this month called 'Chasing Zeroes: The Rise of Student Debt, the Fall of the College Ideal, and One Overachiever’s Misguided Pursuit of Success.' 'I think the college experience has morphed into something that my parent’s generation probably wouldn’t recognize.'
For Ms. Newland, who is from a small town in Alabama, part of the appeal of a liberal arts college was that she thought she would have time to explore what she wanted to do after graduation. Instead, what she found during her first year at Duke in 2006 was a 'gravitational pull' toward jobs in the financial sector and first-year students who attended career fairs with the hopes of impressing the right person early.
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image: © Rev Stan