MarketWatch has a report on the latest hiring trends on Wall Street. It's like reading the first chapter of Frank Partnoy's FIASCO. Structured products are back, baby!
Among the most sought-after positions are in capital markets. Bankers and traders who have experience structuring collateralized debt obligations, or CDOs, are in high demand to feed departments handling securities backed by mortgages, assets, corporate debt and other loans.
"People who do equity trading and fixed-income trading -- the traditional products -- aren't getting that much money anymore," Dolfino said. "The money has moved into the structured-products arena, especially on the fixed-income side."
Oh, and of course, the appetite for math nerds grows ever more voracious. This raises the perilous question: if anyone with an talent for math can land a pretty decent job on Wall Street, shouldn't this start pushing down the quality of people available for teaching math in school? In short, the math nerd exodus from academics to Wall Street might be creating its own shortage of new people with quant abilities.
Wall Street hiring scene is prime [MarketWatch]