Streams

Wall Street Workers Leaving NYC For Fresh Start

Monday, October 27, 2008

Wall Street's loss may be other cities' gain.

Workers who are losing their New York jobs are moving to places they may not have considered before. Bankers and brokers say they're fleeing the city in favor of places such as Florida, the Midwest, and Asia.

KRAEGER: So now all these non-Wall Street firms are going to get the talent that normally would have headed right down to Wall Street.

REPORTER: That's New York headhunter Kurt Kraeger. He says smaller boutique firms typically passed over by some of the banking industry's elite are now hiring them.

Southern Trust Securities, which is based in Florida, reports one out of every five resumes it gets is now coming from workers at top Wall Street firms. That's compared to one in 100 in years past.

Headhunters say workers who relocate will face lower salaries elsewhere. But they may also discover increased responsibilities and freedom.

Tags:

More in:

News, weather, Radiolab, Brian Lehrer and more.
Get the best of WNYC in your inbox, every morning.

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.

Sponsored

Latest Newscast

 

 

Support

WNYC is supported by the Charles H. Revson Foundation: Because a great city needs an informed and engaged public

Feeds

Supported by