Wall Street’s Latest Campus Recruiting Crisis
Even at universities traditionally considered to be Wall Street feeder schools, student bodies are becoming polarized over recruiting. At Harvard, Dartmouth and Cornell, student newspapers have featured polemic columns that urged fellow students to consider working somewhere — anywhere — outside finance. At Stanford, an opinion column that took aim at Wall Street’s “aggressive, sophisticated and well-funded recruitment system” resulted in “Stop the Brain Drain,” an online campaign that is trying to stem the tide of top students flooding into banks, hedge funds and private equity firms.
Should Wall Street dominate the recruitment of America’s top young talent, draining the potential for innovative entrepreneurs and public servants? Should college career centers accept large donations from Wall Street in exchange for special access to student recruitment? Three years after the Great Recession, we are still experiencing a jobless recovery and need our most innovative and creative minds to build new companies, technologies, and industries. Every year, however, up to 25% of graduates from top universities are hired to work for financial institutions – reducing our nation’s supply of job-creating entrepreneurs, scientists, and public servants, and weakening America’s economic dynamism.
Enough is enough: it’s time for America to stop the Wall Street brain drain.Stop The Brain Drain campaign: Don’t Let Wall Street Buy Our Best & Brightest
Huff Po: America’s Brain Drain