Wall Streeters Head West
8/5/08 at 9:20 AM

Photo: Getty Images
Apparently, money. According to the Chicago Tribune, layoffs on Wall Street have caused a number of finance people to move west. They're just as surprised as we are.
"For the first time ever, we're seeing midlevel developers who are interested in moving from New York to Chicago because the staffing environment is so much stronger here," Chicagoan David Fisher, who runs an options developing company called OptionsXpress, tells the Tribune. "It used to be almost impossible to make that move. But now we're seeing people approach us."
But once they've arrived, cultural differences abound, according to Donald Newell, the president of a group called Quiddity.
An archetypal Wall Streeter has an Ivy League diploma, while the Chicagoan practically stumbles into trading, he said."One guy I know is a roofer," Newell said. "He fell off a roof, broke his arm. He helped out while recovering, answering phones and started trading. He stayed for 20 years, never went back to roofing. I don't think he had a college degree."
Is it us or is there some sort of Green Acres remake to be done here?
In Finance Jobs; New York's Loss is Chicago's Gain [Chicago Tribune via DealBook/NYT]
Email
Print
Why Does Ruth Madoff Inspire Such Hate?

Pedro Espada's Constituency of One
NYC Prep Turns New York Into a Joke
Our Annual Guide to Summer in the City

Most Commented
Daily Intel
Last 7 Days
Vulture
Last 7 Days
Grub Street
Last 7 Days
The Cut
Last 7 Days