Since Wall Street’s profits and prestige have slumped, the best and the brightest are looking elsewhere for jobs, making it harder to lure promising recruits. Bruce Bachenheimer, director of entrepreneurship at Pace University, told Technology Review that in the 1990s it was ”exciting and sexy to say you were working on Wall Street.” But that’s changed. Those formerly positive perceptions have flipped 180 degrees.
Meanwhile, the prospect for tech entrepreneurs joining startups with the potential of a lucrative IPO is looking brighter all the time, reported NYConvergence in an article about the FinTech program. Launched in December 2010, the lab is an incubator of NYC-based financial technology startups.