Voting Mistakes and Financial Choice - Bloomberg View
Which type are you?
Which type are you?
Elsewhere in The Kids These Days, "Goldman Sachs attracted more than a quarter of a million applications from students and graduates for jobs this summer, suggesting fears of a ‘brain drain’ in the sector may be exaggerated as banks introduce more employee-friendly policies." You could sort of imagine three types of undergraduate investment banking applicants:
- The person who wants to work 100 hours a week on front-page deals while making piles of money.
- The person who likes the idea of getting 36 hours off every weekend.
- The person who applies for banking jobs because it's sort of what is expected in certain Ivy League majors and sports teams.
The declining compensation and increasing leisure in banking may be attracting more applicants of Type 2 and fewer of Type 1, which might change the culture a bit. But Type 3 should be pretty unaffected by the changes, and might be the dominant type.
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