So, back when I was interviewing (as sophomore) for last summer nearly everyone I talked to mentioned how bad things were but that the markets would recover. Pretty much direct quote from several senior bankers/ traders: "If its still like this by the time you're graduating, that means theres something fundamentally wrong with finance and you don't want to get in."
One year later, its almost certain that things will be MUCH MUCH worse when I graduate.
Time to get off the ship and paddle for shore?
I've noticed that traders say this when they're in a particularly indignant mood. Over the summer, several traders on a bad day would say "this sucks, you shouldn't get into finance, it's way too much of a hassle." On good days, the entire team would go out for dinner or drinks together. That's the nature of the job I guess.
One of the biggest advantages/disadvantages of WS is short-term memory. We exist in a cyclical economy and while this downturn will be significantly deeper than those in the past we will inevitably recover. It would benefit you greatly to read about past crisises i.e. Japanese economy, crash of 87, tech bubble, LTCM, RTC, etc. If you dont believe in the ingenuity of America and our ability to rebound you should probably move to China.
Still a year and a few months until you graduate, correct? I would give it a little time. The market is unlikely to completely rebound by then, but it's pretty difficult to predict what will happen in the next 15 months.
What shore are we supposed to be padding out to? What makes you think this shore is safer?
Great points all. I'm actually not abandoning ship b/c finance is still the only thing i'm interested in other than academia . Just wondering if anyone else was starting to think that way.
or will you be walking the plank?
don't drown.The world has changed. And we must change with it.
There is a reason why rats are some of the best swimmers....
Finance is far from the only place things are grim. Pretty much everybody is screwed these days.
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