For years, the Ivy League colleges have sent many of their best and brightest mathematical and scientific minds to Wall Street as financial engineers.<\/p>\n
One of the drivers, of course, is money. Wall Street has always topped the list of the highest-paid industries \u2013 even rising above generally good pay in the tech sector by a factor of two or three. Yet, there\u2019s another, more subtle reason for the conduit between these Northeastern Ivies and Wall Street. It\u2019s the same reason there\u2019s a conduit between Stanford and technology companies.<\/p>\n
It\u2019s simple really: Young people tend to follow their peers into careers where paths are already carved for them. If a dozen of your engineering-major friends end up at Deutsche Bank, you are likely to, as well.<\/p>\n
The phenomenon explains why one of the other big draws on college campuses is exactly the opposite of an investment bank. It\u2019s Teach for America, which every year turns away thousands of the nation\u2019s top college grads.<\/p>\n
Now, there\u2019s a little bit of hope that a crack might have appeared in that golden conduit that runs from some of the nation\u2019s top schools straight to the morally vacant heart of Wall Street. There\u2019s a backlash growing against the Street, one that will surely be deepened by last week\u2019s Goldman Sachs retirement letter.<\/p>\n
An article in last week\u2019s New York Times Dealbook section covered the growing movement.<\/p>\n
\u201cGroups of protestors at Yale and Harvard stood outside bank recruiting sessions last fall, shouting slogans and holding signs with messages like \u201cTake a chance, don\u2019t go into finance.\u201d At Princeton, a group affiliated with the Occupy Wall Street movement interrupted sessions by JPMorgan Chase and Goldman Sachs, urging their fellow students to rebel against what it said was \u201cthe campus culture that whitewashes the crooked dealings of Wall Street as a prestigious career path.\u201d<\/p><\/blockquote>\n
Where are students going? Tech firms aren\u2019t necessarily paragons \u2013 but given the extent to which young people interact with the world via technology, it\u2019s no surprise that technology is drawing more new graduates.<\/p>\n
That trend will most likely continue. The more students graduate into technology companies, the more their peers will follow them.<\/p>\n
\u201cA 2011 survey of 6,700 young professionals by the consulting firm Universum ranked Google, Apple and Facebook as the most coveted workplaces; JPMorgan Chase, the highest-ranking bank on the survey, was 41st.\u201d<\/p><\/blockquote>\n
Here are the top 10 employers of choice in business, engineering and IT (and last year\u2019s ranking). Somehow, we\u2019re guessing Goldman slips off the Top 10 this year.<\/p>\n
Top 10\u2014Business<\/h4>\n
1. Google (1)
\n2. Apple (8)
\n3. Walt Disney Company (5)
\n4. Ernst & Young (2)
\n5. PricewaterhouseCoopers LLP (3)
\n6. Deloitte (4)
\n7. J.P. Morgan (7)
\n8. Nike (10)
\n9. KPMG, LLP (6)
\n10. Goldman Sachs (9)<\/p>\nTop 10\u2014Engineering<\/h4>\n
1. NASA (1)
\n2. Google (3)
\n3. Boeing (4)
\n4. Lockheed Martin Corp (2)
\n5. Apple (10)
\n6. Microsoft (6)
\n7. General Electric (5)
\n8. U.S. Department of Energy (7)
\n9. Walt Disney Company (12)
\n10. Intel (14)<\/p>\nTop 10\u2014IT<\/h4>\n
1. Google (1)
\n2. Microsoft (2)
\n3. Apple (3)
\n4. Facebook (new entry)
\n5. IBM (4)
\n6. Electronic Arts (8)
\n7. Walt Disney Company (11)
\n8. Amazon (19)
\n9. Cisco Systems (5)
\n10. NASA (10)<\/p>\nThe shift in mindset among young people is another sign of the ascendancy of technology firms over Wall Street\u2019s broken business model. That can only be a good thing.<\/p>\n","protected":false},"excerpt":{"rendered":"
For years, the Ivy League colleges have sent many of their best and brightest mathematical and scientific minds to Wall Street as financial engineers. One of the drivers, of course, is money. Wall Street has always topped the list of the highest-paid industries \u2013 even rising above generally good pay in the tech sector by […]<\/p>\n","protected":false},"author":43,"featured_media":7277,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1374,1278],"tags":[1386,1361,1309],"coauthors":[84],"class_list":["post-1931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-career","category-planning","tag-silicon-valley","tag-tech-recruiting","tag-wall-street"],"acf":[],"yoast_head":"\n
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