Young money inside the hidden world of wall streets postcrash recruits. Young Money: Inside the Hidden World of Wall Street's Post 2019-01-25

Young money inside the hidden world of wall streets postcrash recruits Rating: 7,3/10 574 reviews

Young Money — Kevin Roose

young money inside the hidden world of wall streets postcrash recruits

Kevin Roose, New York magazine business writer, spent more than three years shadowing eight entry-level workers at leading investment firms. In 2013, for example, Goldman Sachs received 17,000 applications for 350 summer internships. These are skills that will prove valuable throughout their lives. But it's also about the doubt and introspection that creeped into the financial sector after 2008, and an inside look at how the crisis really, truly changed Wall Street, starting with its youngest members. They knew how to read a balance sheet. But what is it like in reality? Roose's young bankers are exposed to the exhausting workloads, huge bonuses, and recreational drugs that have always characterized Wall Street life. Roose chronicled their triumphs and disappointments, their million-dollar trades and runaway Excel spreadsheets, and got an unprecedented and unauthorized glimpse of the financial world's initiation process.

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REVIEW: 'Young Money: Inside the Hidden World of Wall Street's Post

young money inside the hidden world of wall streets postcrash recruits

Kevin Roose, New York magazine business writer and author of the critically acclaimed The Unlikely Disciple , spent more than three years shadowing eight entry-level workers at Goldman Sachs, Bank of America Merrill Lynch, and other leading investment firms. And as they get their Wall Street educations, they face hard questions about morality, prestige, and the value of their work. I was curious about how the crash had reshaped the experience of being young on Wall Street, and I wanted to figure out what happened to these people once they joined the money chase. Roose chronicled their triumphs and disappointments, their million-dollar trades and runaway Excel spreadsheets, and got an unprecedented and unauthorized glimpse of the financial world's initiation process. Young Money is the story of these eight young bankers.

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Young Money — Kevin Roose

young money inside the hidden world of wall streets postcrash recruits

Another had a countdown clock mounted in his bedroom, ticking down the number of days, minutes and seconds until his two years at the bank were up. They gave me intimate and unauthorized access to their lives both inside and outside of work, and taught me the secrets of the high-flying, soul-crushing world they inhabit. But all the money and opportunities come at a price: not seeing daylight for days on end, staying at work through the night only to do 30 to 40 revisions on one project, getting publicly screamed at for an errant comma or an incorrectly formatted spreadsheet. His book makes the familiar some would say simplistic argument that America's leading investment firms are morally bankrupt. But they experience something new, too: an industry forever changed by the massive financial collapse of 2008. In 2011, a Yale undergraduate affiliated with an offshoot of the Occupy Wall Street movement questioned the career choices of her classmates.

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Young Money: Inside the Hidden World of Wall Street’s Post

young money inside the hidden world of wall streets postcrash recruits

Listen to this audiobook in full for free with a 30-day trial: Becoming a young Wall Street banker is like pledging the world's most lucrative and soul-crushing fraternity. Roose supports his view with vivid details. And as they get their Wall Street educations, they face hard questions about morality, prestige, and the value of their work. Young Money: Inside the Hidden World of Wall Street's Post-Crash Recruits is a New York Times bestselling look at young Wall Street bankers after the crash of 2008. Roose found that some had a hard time grappling with the idea of working on Wall Street right after a global financial meltdown sparked by the actions of the same firms where they worked. Hundreds of young college graduates had joined the movement to protest against a system where large corporations, especially financial firms, hold the power to write rules that disproportionately benefit a rich minority. But they experience something new, too: an industry forever changed by the massive financial collapse of 2008.

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Young Money: Inside the Hidden World of Wall Street's Post Crash...

young money inside the hidden world of wall streets postcrash recruits

So for the next three years, I shadowed eight young workers at financial firms like Goldman Sachs and J. They entered as college students, and they left being able to carry on conversations about the global markets. Despite their hesitations, many scared twentysomethings entered the finance sector, as one of the few institutions that was still hiring. And as they get their Wall Street educations, they face hard questions about morality, prestige, and the value of their work. These young bankers and analysts discover that while the pay is good, the hours are bad and the never-ending sense of existential dread is ugly.

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Young Money — Kevin Roose

young money inside the hidden world of wall streets postcrash recruits

It's a story about 100-hour workweeks, drug-fueled all-nighters, Harvard hedge funds, dating mixers, Occupy protests, and top-secret fraternity parties. I started writing the book in 2010, when I looked around at the recent college graduates who were starting jobs at big Wall Street banks just after the financial crisis. Every year, thousands of eager college graduates are hired by the world's financial giants, where they're taught the secrets of making obscene amounts of money as well as how to dress, talk, date, drink, and schmooze like real financiers. For decades, young people have dreamed about their first jobs on Wall Street — the first-year six-figure paycheck, the prestige, and an entrée into vaunted halls of some of the most hailed banks. This is the inside story of this well-guarded world.

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REVIEW: 'Young Money: Inside the Hidden World of Wall Street's Post

young money inside the hidden world of wall streets postcrash recruits

Every year, thousands of eager college graduates are hired by the world's financial giants, where they're taught the secrets of making obscene amounts of money--as well as how to dress, talk, date, drink, and schmooze like real financiers. Kevin Roose, New York magazine business writer and author of the critically acclaimed The Unlikely Disciple, spent more than three years shadowing eight entry-level workers at Goldman Sachs, Bank of America Merrill Lynch, and other leading investment firms. As well as being an expose of recent excess, it is the story of how the financial crisis changed a generation and remade Wall Street from the bottom up. Roose's young bankers are exposed to the exhausting workloads, huge bonuses, and recreational drugs, but they also experience an industry forever changed by the massive financial collapse of 2008. The E-mail message field is required. . Young Money offers a fresh view for the new generation.

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REVIEW: 'Young Money: Inside the Hidden World of Wall Street's Post

young money inside the hidden world of wall streets postcrash recruits

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