The Journal today explores the phenomenon of financial services hacks going into new fields either because they got laid off or did some soul searching over the last year and decided making it rain wasn't adequately feeding their souls, now that it's "no longer so sexy" to work in the money business. A lot of them are finding gigs like teaching and farming and starting their own businesses quite rewarding but it's still tough work. First off, there's the long hours and reduced pay. Then you have the fucking assholes who are like, "if you don't work in finance anymore you might as well call yourself a janitor." Generally these are people with whom you share DNA.
Wall Street refugees often discover that new jobs lack both the social status and the fat paycheck of their old careers. Gil Schor was a portfolio manager for French investment bank Natixis SA until July 2008, when Natixis shut down his department. Now he owns and operates Green World Taxi in New Rochelle, N.Y. Using his savings, he bought three Nissan Altima hybrids, billed his taxi and limo service as environmentally friendly and dreamed of expanding it throughout the New York metropolitan area.
Mr. Schor's new routine can be grueling. With just one hired driver, he often must get up at 4:30 a.m. to drive someone to the airport himself. He has no paid vacation, perks or support staff, and is responsible for everything from printing marketing materials to pumping gas. He says his income has shrunk to about a quarter of the $200,000, "plus or minus," that he earned at the investment bank. He is skipping a vacation this year. Instead of buying books, he often goes to the library.
At age 44, and after 14 years in finance, Mr. Schor sometimes struggles to come to terms with his new identity. "My daughter said, 'You used to be a banker and now you're a cab driver,' " he says. "I said, 'No. I'm the owner of a transportation service.' "
I actually can't decide whose side to take here. Like, on the one hand, "owner of a transportation service"? Get over yourself. Kid's definitely 7 or 8. On the other, why she gotta cut him down like that??