Skip to main content

College Students Hesitant To Reveal Scarlet 'B'

  • Author:
  • Updated:

Time was, landing an offer from an investment bank in the fall of one's senior was something to be proud of. Secured employment at Goldman/JPMorgan/Lehman Brothers et al for the following year was something you didn't try to hide and you'd happily join Facebook groups started around the common cause of spending one's signing bonus on kegs and in some cases, perhaps used it as a way of facilitating the bedding of chicks. Back then, a simple "I need to find a place before my job at [insert firm of choice here] starts" more than lubricated the situation in your favor and the notion of not whipping it out in social situations, with members of the opposite sex and otherwise, would've sounded crazy. Now? You keep that shit under wraps.

College students seeking jobs on Wall Street have always had hurdles to overcome — grueling applications, endless rounds of interviews and fierce competition for the relatively few available spots at top firms. This year’s Wall Street hopefuls have had a new force to contend with: the wrath of their peers...this fall, the antibank animus of the Occupy Wall Street movement has seeped onto college campuses. At some schools, anger at big banks has turned the on-campus recruiting process into a crucible of controversy...According to a recent survey conducted by Universum, a consulting firm, the most coveted positions among young workers these days are jobs at technology firms like Google, Apple and Facebook. The highest rated investment bank in the survey, JPMorgan Chase, was ranked 41st, with only 2 percent of respondents listing the firm as their first choice of employer...for those students still hoping to land a job in finance, the added peer pressure has forced some of their enthusiasm underground. “I can feel when my students tell me they’re going into I-banking, they’re a little more reserved about it than they used to be,” said Chris Wiggins, an associate professor in Columbia University’s department of applied physics and applied mathematics.

At Top Colleges, Anti-Wall St. Fervor Complicates Recruiting [Dealbook]
Related: Dartmouth Undergrad Has A Bone To Pick With Ray Dalio, ‘Faceless Hedge Funds,’ The Dartmouth Board, And Peers Who Flock To Wall Street To ‘Perpetuate Class-Based Systems Of Power And Dominance’