Working in investment banking no badge of honor anymore

Congressional Medal of Honor

'I work 9 to 5, I get paid a ton of money, and I have a great life.'

Ruined weekends, PowerPoint drudgery and overnight shifts in Manhattan skyscrapers once were a point of pride for the Harvard Business School graduates who went to Wall Street. Now young stars hold heads high about how lucrative and healthy their lives will be -- elsewhere.

`People used to brag and say, `Oh yeah, 21-hour days, seven days a week for eight months,' that was a badge of honor,' said Kiran Gandhi, who like others in this year's class applied to technology companies. `The humble brag is now, `Oh yeah, I work 9 to 5, I get paid a ton of money, and I have a great life.' It's green juice from vats in the office and amazing organic iced coffee cold-brewed - the quality of life.'

Bloomberg News reports that the allure of Silicon Valley, where hip startups are minting billionaires, is eclipsing that of staid investment banks under pressure to cut risks and costs. This year, a long slide in the number of Harvard MBAs joining banks may hit a new low, even after many of the biggest firms adopted policies to become more hospitable to new recruits. In 2007, about 13% of the school's graduates who landed jobs went into investment banking or trading, according to Harvard's reports. By last year, that fell to about 5%.

Now a preliminary survey of this year's grads shows only 4%. intended to join a bank after getting degrees in May. Among the class's 46 Baker Scholars -- a designation Harvard grants the top 5% of MBAs -- only one expressed interest.

To access the complete Bloomberg News article hit the link below

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