Wall Street may be losing its luster for new U.S. college graduates who are increasingly looking to the government for jobs that enrich their social conscience, if not their wallet.
In the boom years, New York’s financial center lured many of the brightest young stars with the promise of high salaries and bonuses. But the financial crisis has tainted the image of big banks, and with fewer financial jobs available, Uncle Sam may be reaping the benefit.
“Some grads might have seen two of their older siblings go through the dot-com crash and the emptiness of that, and now the Wall Street crash, just chasing after the big bucks,” said John Challenger, chief executive of job placement company Challenger, Gray & Christmas.
“You may see a whole generation of some of the very best students that decide to do public service rather than business,”
Oh please, as though it’s not about the money. There’s more money in Washington these days than there is in New York. Banks are being run from DC, auto companies are being run from there, and pretty soon hospitals will be run from there.
Why earn money when you can print it?