Key Target of Investment Banks Quitting For Tech

eFC logo

Investment banks want to hire people who really, really want to work in investment banking. Investment banks want to hire more women and ensure they reach senior positions. Unfortunately, these women want to join tech firms.

The story of MBAs gravitating away from finance and into tech firms is a well-told one, but when women who have always dreamed about working in banking start to complain about poorer pay, a lack of promotion opportunities and a dearth of excitement, there’s a concern.

Heather Tratoff says that the allure of negotiating major corporate and financial deals sparked her interest in investment banking, but a few years into her career after taking an MBA at Chicago Booth, she ditched it and joined Chegg – a digital education firm where she’s chief of staff. She is not alone.

"The ability to get promoted and take on more responsibility is much more prevalent in a tech company than at an investment bank," she says.

Tech companies are also paying more – female MBAs who go into tech expect $98k, while those going into investment banking are anticipating $87k.

Better Off State-Side (eFinancialCareers)

The UK and US are both huge centers for hedge funds, but there's only one place to work if you want a big pay day.

Young Man's Game (eFinancialCareers)

After years of cuts, investment banks are once again hiring equity researchers. However, there's no expertise on the market.

Mark-Up at J.P. Morgan (Bloomberg)

Jamie Dimon is paid 222 times the average J.P. Morgan employee.

Not All Bad (Economist)

In defence of capitalism, at least in relation to anything else: “Bankers have undoubtedly done their best to give capitalism a bad name”

Surely They Mean Dothraki? (Times of Israel)

FinTech firm in Israel is hiring 100 people. Among the key skills it looks for is an ability to speak Klingon.

Houlihan Lokey First Day Surge (Market Watch)

Houlihan Lokey’s IPO might have been sold a little short, but shares were up 7% in the first day of trading.

Running Citi’s Good Bad Bank (Wall Street Journal)

What it takes to run Citi’s bad bank: “You need someone who’s incredibly detail oriented, and he’s incredibly detail oriented.”

Go Me! (Financial News)

An investment banker hired a group of screaming ‘fans’ to greet him as he arrived at Heathrow Airport.

More Than a Few Bad Apples? (Bloomberg)

The SEC has new technology to get to the heart of potential deception by traders in the fixed income markets.

Trump or Random Teenage Girl? (GQ)

Are these tweets from presidential hopeful billionaire Donald Trump, or the angst ridden musings of random teenage girls on Twitter?

Quote of the Day:

“Perhaps this was a Brown-Nosed Buy. Career advancement does not come to people who make enemies by saying nasty things about the boss’s top client,” the art of the bad recommendation.

Related articles

Popular job sectors


Search jobs

Search articles