Brown is considered a particularly open and liberal environment, even earning nicknames such as the "granola-liberal" Ivy. But as an applied mathematics-economics concentrator, I find that it becomes very easy to forget this fact. Day after day I get numerous emails from the economics and computer science departments advertising countless information sessions for Goldman Sachs, Morgan Stanley, Citigroup and other investment banks and consulting firms. It can often be overwhelming. Particularly in my concentration, it often seems that there are few career options other than investment banking or finance. In the midst of the Occupy movement, when many of these same students would gladly admit that these firms are not doing a very good job of making socially responsible decisions, where did this liberal thinking go? What makes investment banking jobs so popular among Brown students, and what can Brown do to provide alternatives?
For many students, applying for jobs in investment banking is too easy not to consider. This may seem counterintuitive, but let me compare the choice of the job search with a more familiar process: the college hunt. When you applied to college, how many schools were you really choosing from? I would wager that many of you looked at the top 15 colleges and universities and applied to the ones that interested you, with a few safety schools thrown in for good measure. You did this because you knew you had a shot at them, you had heard of them and going to an Ivy League or other top-ranked school is a safe investment. Your friends who may not have done as well on the SAT probably had a much greater challenge than you did. They had to decide among schools they were unaware of before the college search, think more actively about the different programs that fit their strengths and probably seek significant help along the way.
Now let us bring this back to the job hunt after college. What makes investment banking appealing to so many smart Brown students? Most people have heard of these banks. Students who choose to work for them will make connections and earn a livable income until they figure out what else to do with their lives or continue in finance. Brown makes this process simple by providing career fairs where these banks court students and throwing information sessions and dinners for them. Choosing to attend these info sessions is natural and completely understandable.
It is unfortunate, though, if you are an economics concentrator and you do not want to be a financial analyst or consultant. Brown does little or nothing to assist these students — students who by all stereotypical accounts make up the majority of the Brown demographic. The career fair for nonprofits and government work was relegated to the Kasper Multipurpose Room. Hardly anyone was there, and the choices were minimal. I realize that this is not completely Brown's fault. The banking, consulting and technology firms probably put a considerable amount of money into recruiting, and they make sure to have representation at all of these fairs. Still, it is Brown's responsibility to put more money, resources and energy into providing other options for students.
Even though I do not count myself among the Occupiers, it is a shame that many of the best and brightest Brown students go off to careers on Wall Street. A friend of mine who graduated in 2009 told me that his job at a reputable hedge fund is decent — mostly because of the pay and prestige — but he has to live with the fact that he helps "make money out of money for people with money." This pay and prestige form the basis for many, though not all, of these career paths. Despite knowing they will be overworked in jobs that are currently being criticized by most Americans, countless students choose these options over other alternatives that are perhaps too difficult to explore. Why spend the effort trying to find a more suitable or academically stimulating job when Brown makes it so simple for you to take the easy way out? In this sense, it is partly Brown's fault that smart kids choose these careers.
Were there equally attractive positions in other fields, I am certain that you would see a significant drop in the number of finance jobs that seniors choose to take, or maybe I am too optimistic. Regardless, Brown could and should be doing more to help smaller nonprofits, social groups, environmental groups and think tanks reach out and advertise to students. They should have more specific advising sessions about how to search for jobs in the private sector and make them very accessible even as early as sophomore year. Brown should provide more funding for research and internships in the nonprofit sector. Lastly, Brown should provide more advising for people interested in master's and PhD programs. In this last field, undeniably, we are significantly lacking. Brown makes it very easy for students to explore their academic interests while here but does little to help students further explore these interests after graduation. This is a terrible shame.
Lucas Husted '13 wants to apologize to all of his applied math-econ friends. He can be reached at lucas_husted@brown.edu.
