I work in quantitative finance, and I think that Brooks is working with slightly out-of-date statistics. The financial crisis has been very rough on the headcount and morale of most financial institutions, and has impacted quant funds particularly roughly.
It was fairly easy to view finance as a safe and socially acceptable career in 2007, and that was reflected in the recruiting numbers at the time. The past 3 years have disabused many of us of that impression, and the effects are being seen right now in the career decisions top students and people already in finance are making.
20% of the people in my little corner of quant finance have left for tech jobs or startups in the last 4 months, and I'm hoping to follow them as soon as I get enough traction on my side project. I hope for their sake that current students have also figured out that the game has changed and are directing their ambitions toward tech.
It was fairly easy to view finance as a safe and socially acceptable career in 2007, and that was reflected in the recruiting numbers at the time. The past 3 years have disabused many of us of that impression, and the effects are being seen right now in the career decisions top students and people already in finance are making.
20% of the people in my little corner of quant finance have left for tech jobs or startups in the last 4 months, and I'm hoping to follow them as soon as I get enough traction on my side project. I hope for their sake that current students have also figured out that the game has changed and are directing their ambitions toward tech.