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Junior Banker: Upper Echelons Of Finance Might Wanna Study Up On Their Cold War History, Or Something

Hundreds of undergraduates are starting internships at banks this summer, typically eight to 10 weeks with a salary equivalent to £45,000 a year. Soon follow the graduates, starting their careers as banking analysts, earning about £45,000 plus bonus. The median salary reported by university-leavers last year was £20,500… At the banks, there is a concern they might not meet the younger generation’s expectations. Bruce Tulgan, author of Not Everyone Gets a Trophy, characterises this cohort as worldly, precocious and needy. Used to instant feedback and hands-on parenting, they are less likely to toil away quietly, paying their dues. Not yet teenagers on 9/11, they entered university in a recession that made many suspicious of institutions. One graduate had this to say to Mr Tulgan about financiers: “I know they think they are masters of the universe, but the Soviet Union disappeared overnight. So could they.” [FT]

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20 Responses to “Junior Banker: Upper Echelons Of Finance Might Wanna Study Up On Their Cold War History, Or Something”

  1. Guest says:

    "I know they think they are masters of the universe, but the Soviet Union disappeared overnight. So could they."

    In Soviet Russia, masters of the universe disappear you.

  2. Guest says:

    Seems like the Junior Bankers have good knowledge of the Khmer Rouge though.

  3. Slampig says:

    In Soviet Russia Russia Soviet In!

  4. Gorbachev Sachs says:

    Totally different situation. Whereas the USSR was isolated from most of the world, resistant to change, and led by people who ascended the ranks for totally the wrong reasons, bankers are OH MY GOD WE'RE SCREWED.

    • History Channel says:

      Um, perhaps you should bone up on your Cold War history.

    • Just Sayin' says:

      From the way you're describing it, it sounds like the USSR and bankers are the same situation.

      • Reading Comp Analyst says:

        Yes, it's almost like his post was relevant to the article or some crazy nonsense like that.

  5. Putin Joke Guy says:

    These babies don't want to Putin their time and pay their dues.

    • Bad Pun says:

      Back in my day, we were always Russian to crank out a model. Now, all these juniors are Stalin on basic comps.

  6. Horny Stalin says:

    Shtup her right in the pussova!

  7. Guest says:

    I'd like to know what person working in a big bank in 2014 believes himself to be a master of the universe. Boutiques stripping away your highest margin business, comp falling every year no matter what, the government suing you pretty much constantly, regulators all over you, taxpayers hate you, etc.

    • Guest says:

      And the secretary tapping you in the ass.

    • B. Moynihan says:

      'Boutiques stripping away your highest margin business, comp falling every year no matter what, the government suing you pretty much constantly, regulators all over you, taxpayers hate you,'

      Well, yes. Isn't that the Universe we were discussing? I'm definitely the master of it.

  8. Lonely Snowden says:

    Who wants to play Boggle?!

  9. Ken Lewis says:

    That would never happen on Wall Street. For one, the ruskies elected some drunk dude with a passion for schnapps after the fall. Unthinkable.

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