I was e-mailing Claudio, who reads this blog sometimes. He’s a young guy with a pretty wife and young children. That means he’s in the workforce, chopping out a living, with a future ahead. As opposed to me, who has children his age, and who watches the world go insane from the sidelines, more or less. He pointed me at this article on ZeroHedge.
America’s Top Graduates Don’t Want Jobs On Wall Street
The number of applicants to banking analyst programs is hard to track, but business school data, which captures a slightly older cohort of potential financiers, shows a broad decline in interest in investment banking.
“The technology sector has just completely changed the game. The opportunity cost is simply too high to be sticking around in a job where you’re not getting the treatment that you want.”
The slave-like existence in the well-compensated mainstream sounds very much like other social situations where those who have suffered explain that success requires that you must suffer even as I did.
So that game is changing and the participants will change it, not the CEOs.
At the same time, some people are asking themselves whether there will be a chair for them when the music stops. Yes, it’s in another ZeroHedge article:
On some level, we all know that it is just a matter of time before our society implodes. When that day finally arrives, where will you want to be living? I know that most of you have thought about this at some point. Even if we don’t admit it to others, most of us have spent at least a little bit of time thinking about worst-case scenarios. Our world is getting a little bit crazier with each passing day, and that was definitely true today.
Many of the people who read this blog have contemplated that question as I did. DRJIM, my friend from California, moved to Colorado. Others of you are embedded in secure areas and you’ve mentioned it. But the world (not just the US) is becoming increasingly unsettled.
A friend of mine called me the other day. He’s a younger guy (age of my children, with children of his own) and used to work for Goldman Sachs in NYC. He left New York City and lives in a nice house, good job, wife is a nurse – who can get work anywhere. A job offer came to him that would cause him to move back to New York City. I asked him if he was nuts.
There is not enough whiskey in Ireland that would get me to move to New York City. I don’t even want a connecting flight through JFK wherein if airline things went sideways, I might have to spend the night – same with Atlanta. I don’t fly armed anymore… I can handle an overnighter in LA because I’d stay with my kids in the police biz.
He said, “It’s a lot of money.” I asked him if he wasn’t making enough money. He said it was – I told to think it through again.
Yeah, that’s about right.