Wednesday, June 9, 2010

College Grads and Wall Street

I recently commented on a story on Marketplace (NPR) about recent college graduates taking jobs on Wall Street.   My comments should be aired today on the NPR program.   The story is here

My comment:This story reminds me of the folly of youth. What these graduates seem to be blissfully unaware of is how life unfolds and the grip a high paying job puts on people. They also seem to think that as new employees they'll have some sort of influence on how their Wall Street firm will behave. New "meat" has no influence on a company and they exist solely to make profits. After being in such a job for a few years, I doubt that many of these young people will suddenly decide to forgo the fortune and leave the high flying Street. Life styles beget lifestyles. I don't know who told one graduate a "significant number" of Wall Street tycoons go off to work for non-profits. On what planet does that happen?

1 comment:

Robin said...

Perhaps one out of one-thousand IS a "signifcant number" in this context.