Young Money: Inside the Hidden World of Wall Street's Post-Crash Recruits (Hardcover)
Becoming a young Wall Street banker is like pledging the world's most lucrative and soul-crushing fraternity. Every year, thousands of eager college graduates are hired by the world's financial giants, where they're taught the secrets of making obscene amounts of money-- as well as how to dress, talk, date, drink, and schmooze like real financiers. YOUNG MONEY is the inside story of this well-guarded world. Kevin Roose, New York magazine business writer and author of the critically acclaimed The Unlikely Disciple, spent more than three years shadowing eight entry-level workers at Goldman Sachs, Bank of America Merrill Lynch, and other leading investment firms. Roose chronicled their triumphs and disappointments, their million-dollar trades and runaway Excel spreadsheets, and got an unprecedented (and unauthorized) glimpse of the financial world's initiation process. Roose's young bankers are exposed to the exhausting workloads, huge bonuses, and recreational drugs that have always characterized Wall Street life. But they experience something new, too: an industry forever changed by the massive financial collapse of 2008. And as they get their Wall Street educations, they face hard questions about morality, prestige, and the value of their work. YOUNG MONEY is more than an expose of excess; it's the story of how the financial crisis changed a generation-and remade Wall Street from the bottom up.
About the Author
Kevin Roose is a business and technology writer for New York magazine and NYMag.com. Previously, he was a staff reporter for the New York Times, where he covered Wall Street for the business section and for DealBook, the Times' award-winning financial news site. He is the author of The Unlikely Disciple, and his writing has appeared in GQ, Esquire, ESPN: The Magazine, and other major publications. More info on Kevin can be found at www.kevinroose.com or you can follow him on Twitter: @kevinroose.
Praise for YOUNG MONEY:
"If Kevin Roose's finely crafted YOUNG MONEY does not scare you straight about the life of a young financial analyst on Wall Street, it can't be done. Roose's frolic through Wall Street's playpen is a must-read."
--William D. Cohan, New York Times bestselling author of House of Cards and Money and Power
"Despite all the press about Wall Street, the stories that don't usually get told are those of the recent college graduates who clamor for the chance to work 100 hour plus weeks at the big banks. Kevin Roose's new book, which follows a handful of analysts through the trials and tribulations of their early years on the Street, is a thoughtful exploration of their motivations and their experiences-and it's a great read."
--Bethany McLean, coauthor of the New York Times bestsellers The Smartest Guys in the Room and All the Devils are Here
"A cautionary true-life tale, YOUNG MONEY should be required reading for every college student who is contemplating a job on Wall Street. As for the rest of us, who remember Wall Street before 2008, Kevin Roose has provided a great window into how that world has changed-and how it hasn't."
--Connie Bruck, New York Times bestselling author of The Predators' Ball
"When Michael Lewis wrote Liar's Poker in 1989, he hoped to discourage ambivalent young elites from starting careers on Wall Street. The opposite happened. Kevin Roose may have better luck with Young Money, his look at rookie bankers in the wake of the financial crisis." --Bloomberg Business Week
"Highly entertaining and impressive ... Roose's captivating read is sure to appeal to readers young and old who are interested in the zeitgeist of Wall Street since the crash."
"[Young Money] offers a compelling glimpse of Wall Street in the post-2008 recession era...thought provoking, excellent book."
"The young people who have flocked to Wall Street are often badly used, caught up in power struggles among middle management and little appreciated ... [Young Money] captures the daily indignities to which the junior capitalists are subjected."
-- Kirkus Reviews