Catherwood LibraryILR School

Amid the glitz and glam of the Wall Street financial sector, many people often overlook those who work for less than nine-digit paychecks. At every company that has fallen, there are receptionists, custodians, and technical support. Although these workers do not make millions, they do better in these jobs on Wall Street than they would perhaps anywhere else. 120,000 jobs were cut from the industry before the fall of Lehman and Merrill Lynch, and the demise of these two powerhouses is expected to increase this figure by 10-20%. In fact, some have started to regard those from the former Bear Stearns as lucky ? they got to re-enter the job market when it was still thriving, now employees face fierce competition. A growing number are leaving Wall Street altogether, to pursue jobs with a need for financial expertise, to go back to school, or to do something entirely different.