Mega-Paychecks Carry High Cost for Street's "Young Money"

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Mega-Paychecks Carry High Cost for Street's "Young Money"

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Mega-Paychecks Carry High Cost for Street's "Young Money"

TheStreet.com Videos 2:51 mins

Wall Street was a "sexy" industry for new recruits prior to the financial crisis, but while the paychecks remain oversized, the banking life has turned into drudgery since the collapse, says Kevin Roose, author of "Young Money". The young bankers he tracks in the book became conflicted about their roles in society following the Occupy Wall Street protests. Many of the bankers leave finance and Roose says he expects more college grads to migrate to tech. Finally, Roose infiltrated a secret Wall Street fraternity meeting to learn that unlike these young hires, the old guard has not learned the lessons of the crash.

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