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The investment banking dream is gone
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| Contributor | Ashley |
| Last Edited | Ashley Sep 29, 2008 10:20am |
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| Category | Commentary |
| News Date | Monday, September 29, 2008 05:00:00 AM UTC0:0 |
| Description | My boy, why don't you take up engine-driving?
LONDON (MarketWatch) -- "What do you want to do when you grow up, sonny?" The answer to that traditional question has always depended on geography. The German boy wants to be an engine-driver. The French wish to own a restaurant, the Swiss aim to be hoteliers, the Italians aspire to engineering, the British youth dreams of going into investment banking. Glamour galore! Slaving day and night in a gleaming, lavishly-equipped, glass and concrete money tower owned by the one people who know everything you need to know about money: the Americans!
And what's the position now? In month 13 of the credit crisis - and still counting - the average young German still wants to be a train-driver. Nothing new here, then. But, in the UK, cold reality has changed things a bit for school-leavers. They now want nothing more exciting than a nice safe nine-to-five job with a restructuring firm, a credit derivatives re-hypothecation liquidator or a commission of inquiry into securities markets abuse. |
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