Occupy Wall Street protestors have redirected some of their anger away from big investment banks to their peers who fill the positions at them.
Robert Shiller, a professor of economics at Yale University can feel the shift in sentiment on campus toward careers in investment banking.
“I teach financial markets, and it’s a little like teaching R.O.T.C. during the Vietnam War,” Shiller said. “You have this sense that something’s amiss.”
Student newspapers at typical Wall Street feeder schools such as Dartmouth, Harvard, Cornell and Yale are urging fellow students to steer their career paths away from a world on Wall Street. At Stanford, students have launched an online campaign called “Stop the Brain Drain.” It’s pointing an angry finger at how hedge funds and private banks’ recruitment campaigns only serve to “divide the campus,” and that finance-minded students could “use their energy for better things.”
On-campus seminars, information sessions, and workshops used to be overflowing with students eager to mingle with recruiters. Now, they have been morphed into protest sites.
A Morgan Stanley event at Yale University last week was bombarded by angry students holding signs and chanting slogans such as “take a stance don’t go into finance,” showing the polarizing perspective at the recruitment atmosphere.
However, these recruitment sessions are not a lost cause. Several days before the Morgan Stanley incident, more than 100 students filled the Omni Hotel at Yale and networked with Goldman Sachs recruiters, still hoping for a career in finance upon graduation.