Bankers are leaving the industry for these 'zero-salary' jobs


Working far longer hours to bring home a fraction of previous pay.

It was February 2012 and banks, dealing with the fallout from the credit crisis, had culled more than 230,000 jobs the year before.

Stu Taylor, the global head of matched principal trading at UBS, figured he better get out. So he left his seven-figure salary and risked his life savings on a technology startup.

Bloomberg News reports that he and three partners 'went into a zero-salary moment' setting up Algomi, a bond sales management platform to be used by traders, portfolio managers and investors.

Three years later, the 42-year-old says the far longer hours to bring home a fraction of his previous pay are worth it. 'I enjoy what I’m doing, we’re creating something I think is making a difference, and it’s mine'.

'Seven out of 10 conversations I have with investment bankers now end with them asking me to keep them in mind for jobs in technology', said Eric Anderson, who leads the financial-technology practice at Egon Zehnder International.

To access the complete Bloomberg News article hit the link below:

Why Bankers Are Leaving Finance for No-Salary Tech Jobs

U.S. Stock-Index Futures Advance After Three Weeks of Declines

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts