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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Comments (20)

  1. Posted by Guest | July 10, 2014 at 3:20 PM

    "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. Posted by CCCP | July 10, 2014 at 3:22 PM

    There's a Putin joke there, somewhere

  3. Posted by Guest | July 10, 2014 at 3:29 PM

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

  4. Posted by Slampig | July 10, 2014 at 3:33 PM

    In Soviet Russia Russia Soviet In!

  5. Posted by Vladimir | July 10, 2014 at 3:39 PM

    *hearty applause*

  6. Posted by Gorbachev Sachs | July 10, 2014 at 3:39 PM

    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.

  7. Posted by History Channel | July 10, 2014 at 3:42 PM

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

  8. Posted by Just Sayin' | July 10, 2014 at 3:44 PM

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

  9. Posted by Putin Joke Guy | July 10, 2014 at 3:45 PM

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

  10. Posted by Horny Stalin | July 10, 2014 at 3:46 PM

    Shtup her right in the pussova!

  11. Posted by Guest | July 10, 2014 at 3:52 PM

    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.

  12. Posted by Lonely Snowden | July 10, 2014 at 3:55 PM

    Who wants to play Boggle?!

  13. Posted by E. Texas Gas Trader | July 10, 2014 at 3:59 PM

    Never use the phrase "Bone Up" around natural gas traders or marketers.

  14. Posted by QuestFA | July 10, 2014 at 4:01 PM

    racist

  15. Posted by Reading Comp Analyst | July 10, 2014 at 4:25 PM

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

  16. Posted by Guest | July 10, 2014 at 4:34 PM

    And the secretary tapping you in the ass.

  17. Posted by New UBS Analyst | July 10, 2014 at 4:35 PM

    Didn't he just go a sick single with Drake?

  18. Posted by B. Moynihan | July 10, 2014 at 4:36 PM

    '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.

  19. Posted by Bad Pun | July 10, 2014 at 4:39 PM

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

  20. Posted by Ken Lewis | July 10, 2014 at 4:42 PM

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