Article An investment banker friend was recently complaining about the havoc and uncertainty at her workplace in these crazy times. I tried to express sympathy. But I found that I just didn’t care. Actually, even worse: I felt like rolling my eyes. And this is a person I like. Recently, I’ve found myself not only NOT empathizing with my fellow twentysomethings in the beleaguered financial services industry, but experiencing undeniable pleasure at their increasingly tenuous circumstances. You see, for those of us recent grads working in New York, a pay-related pecking order was established immediately after graduation. Those who chose the I-banking route nailed down six-figure salaries—moaning about their hours—while others—teachers, journalists, and the like—were barely squeaking by, often keeping similarly punishing schedules. Worshipping Gordon Gekko Furthermore, the attitude of many of those bankers became increasingly tinged by an appreciation of a certain “models and bottles” lifestyle, which… Read More
New York
MBA students take stock amid troubling times
By Marco R. della Cava, USA TODAY PALO ALTO, Calif. — The unsparing tsunami of bad news created by the collapse of storied Wall Street banking firms has made its way 3,000 miles to the palm-studded campus of Stanford University. “Every day, it only seems to get worse,” says Ben Sloop, 29, of Atlanta, one of 740 students seeking an MBA at an institution known for incubating tomorrow’s business stars. (Think Google’s founders.) “You wonder, ‘Wow, if I get laid off at one firm, it’s not like I can now go to another.’ ” With his elite schooling, New York firms were an option. But now Sloop likes the feel of a job grounded in reality. So he’s thinking small. This past summer, he worked for an online company in nearby San Francisco that helps consumers manage their bills. The fit seems right. “This crisis has reinforced that I… Read More
