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Why Do So Many Ivy League Grads Go to Wall Steet?
The Atlantic ^ | 02/18/2012 | Edward Tenner

Posted on 02/18/2012 1:12:55 PM PST by SeekAndFind

It's reasonable to fret that Wall Street is vacuuming up all the best talent from our top colleges. But why? Ezra Klein argues in the Washington Post that investment banking recruiters are filling a psychic void left by liberal education itself. His column is welcome, though it's running a bit late. The proportion of employed new Harvard graduates in finance, for example, dropped from 28 percent to 17 percent between 2008 and 2011. But the number may yet bounce back, so the interesting question is why it was ever so high.

It's not the salaries or peer encouragement. It's that

. . . Wall Street -- like law, management consulting and Teach for America -- is taking advantage of the weakness in liberal arts education.

For many kids, college represents an end goal. Once you get into a good college, you've made it, and everyone stops worrying about you. You're encouraged to take classes in subjects like English literature and history and political science, all of which are fine and interesting, but none of which leave you with marketable skills. After a few years of study, you suddenly find it's late in your junior year, or early in your senior year, and you have no skills pointing to the obvious next step.

What Wall Street figured out is that colleges are producing a large number of very smart, completely confused graduates. Kids who have ample mental horsepower, an incredible work ethic and no idea what to do next. So the finance industry takes advantage of that confusion, attracting students who never intended to work in finance but don't have any better ideas about where to go.


(Excerpt) Read more at theatlantic.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: ivyleague; wallstreet; williesutton

1 posted on 02/18/2012 1:13:12 PM PST by SeekAndFind
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To: SeekAndFind

To the headline: why not?


2 posted on 02/18/2012 1:16:00 PM PST by svcw (Only difference between Romney & BH is one thinks he will be god & other one thinks he already is.)
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To: SeekAndFind

Hmmmmm, Ivy League grads to to Wall Street.

Wall Street is a seething hive of incompetency and criminality.

Just wondering if.......


3 posted on 02/18/2012 1:16:30 PM PST by Da Coyote
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To: SeekAndFind

Why did Willie Sutton rob banks?

I guess you have to be an intellectual to give a lengthy answer to this mystery.


4 posted on 02/18/2012 1:16:56 PM PST by jjotto ("Ya could look it up!")
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To: SeekAndFind

It’s reasonable to fret that Wall Street is vacuuming up all the best talent from our top colleges.

Given the unethical behaviour and incompetence shown by the banking industry, I hope we run out of that kind of talent soon.


5 posted on 02/18/2012 1:17:32 PM PST by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: SeekAndFind

..because you don’t go to Home Depot to buy hard salami.


6 posted on 02/18/2012 1:20:24 PM PST by Doogle (((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated)))
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To: SeekAndFind

The old boy network. Same as congress.


7 posted on 02/18/2012 1:20:36 PM PST by crosshairs (Liberalism is to truth, what east is to west.)
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To: SeekAndFind
Ask Willie Sutton. "Because that's where the money is." .
8 posted on 02/18/2012 1:21:29 PM PST by magslinger (Who cares if they are"electable" if they are going to govern like Democrats? -noprogs)
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To: SeekAndFind

All your profs scream, “wealth is bad!” —but they’re GRADING you, so you just shuttup, even though YOU know that wealth is good.

And later these robber guys on WS in the interview say, “wealth is good”, and that sounds MUCH more familiar.

So they go there, and end up becomign little robbers, in the process paying back the Hitlerian snob with the suede patches on his elbows, from years ago.


9 posted on 02/18/2012 1:22:39 PM PST by gaijin
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To: Doogle
..because you don’t go to Home Depot to buy hard salami.


10 posted on 02/18/2012 1:23:26 PM PST by crosshairs (Liberalism is to truth, what east is to west.)
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To: Doogle

“..because you don’t go to Home Depot to buy hard salami.”

According to rumor, it can be found in the restrooms;)


11 posted on 02/18/2012 1:24:28 PM PST by Frank_2001
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To: SeekAndFind
Because they and their families are ALL friends. Can you say "oligarchy"? Yes, I knew you could....
12 posted on 02/18/2012 1:26:45 PM PST by MeneMeneTekelUpharsin (Freedom is the freedom to discipline yourself so others don't have to do it for you.)
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To: svcw

Or....because they can


13 posted on 02/18/2012 1:27:31 PM PST by irish guard
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To: SeekAndFind
Question: "Why Do So Many Ivy League Grads Go to Wall Steet?"

Answer: The well springs of opportunity have dried up!

14 posted on 02/18/2012 1:32:15 PM PST by AEMILIUS PAULUS (It is a shame that when these people give a riot)
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To: SeekAndFind
Willie Sutton knows.


15 posted on 02/18/2012 1:34:21 PM PST by Revolting cat! (Let us prey!)
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To: svcw

Because the Ivy League turns them into godless addicted gamblers?


16 posted on 02/18/2012 1:39:05 PM PST by donna (I want to live in a Judeo/Christian country where we know that, before God, men & women are equal.)
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To: SeekAndFind

Ivy isn’t about an education. It is about contacts and making friends . Their friends go to Wall Steet so they do.


17 posted on 02/18/2012 1:51:25 PM PST by CodeToad (NO TAXATION WITHOUT REPRESENTATION!!!)
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To: SeekAndFind

18 posted on 02/18/2012 1:58:20 PM PST by rollo tomasi (Working hard to pay for deadbeats and corrupt politicians)
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To: SeekAndFind
"The proportion of employed new Harvard graduates in finance, for example, dropped from 28 percent to 17 percent between 2008 and 2011"

Can that be correct? I would have guessed that it was a steady 100%.

19 posted on 02/18/2012 2:01:44 PM PST by UnwashedPeasant (Don't nuke me, bro)
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To: jjotto
Why did Willie Sutton rob banks?

Precisely, and it was my first thought, as well!

20 posted on 02/18/2012 2:39:16 PM PST by SuziQ
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To: SeekAndFind

Because Ms. Walls lets them?


21 posted on 02/18/2012 3:10:17 PM PST by Norseman (Defund the Left-Completely!)
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To: SeekAndFind

In order to pay half-a-million in college loans.


22 posted on 02/18/2012 3:12:55 PM PST by reg45 (Barack 0bama: Implementing class warfare by having no class!)
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To: irish guard
Some Harvard grads can't find Wall Street jobs so they have resorted to playing games all day.


23 posted on 02/18/2012 4:25:52 PM PST by Last of the Mohicans
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To: SeekAndFind

What is this - amateur hour?

Ivy grads are driven, hard working, and like $.

If that is you - and you aren’t going to med school - BY FAR the best place to go is Wall St. These guys bust their ass - and get paid $$$$$ to do it = with an upside of $$$$$$$$ -
Three Ivys -
I’m an engineer - MBA - still sort of upper mid class.
Sister - Phd - Bio Chemistry - can’t find work.
Sister 2 - Wall St - Can buy and sell us multiple times over.
The engineer and the Phd beat the Wall St girl on SAT. She could barely get a job - caught on with fidelity - and ..... multi millionaire.

This article is - literally - ridiculous.

The modern kids = can see EXACTLY what is going on in this society - even the Drs from my generation - surgeons and cardiologists - are smarter, sacrificed more, and work harder for their $ - than Wall Streeters.


24 posted on 02/18/2012 4:26:07 PM PST by Eldon Tyrell (question,.)
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To: SeekAndFind
Really tough one. It's the money fer crissakes. Who else would hire a worthless pansy from an elite family (Think Little Timmy Geithner) and pay him exorbitant wages and bonuses just to f* up the works with regularity?

Actually we should be grateful. If Wall Street doesn't soak up this refuse, they will inflict their educated stupidity on the rest of us, in ways that could really count.

25 posted on 02/18/2012 9:07:16 PM PST by hinckley buzzard
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