Due to massive
layoffs, many former Wall Street bankers and employees of i-banks have decided to turn over a new leaf and become entrepreneurs.
Stephen Chen, a former employee at Bear Stearns Cos., went from fashioning complex computer models for hedge funds to starting up GreenSoul Shoes, which produces sandals from recycled automobile tires, according to
ABC news.
"The company is something we had been talking about for a while. We
wanted to start a company that would be green and help people. If I
hadn't been laid off, I don't know if the idea would ever have become a
reality. The time was right," Chen told ABC news.
Lauren, a former banker at Morgan Stanley (NYSE:MS), made her way from the trading for to the Yoga Studio and eventually founded I.AM.YOU. studio, according to
Social Workout. But unlike Chen, she quit her job at in banking for one that peaked her interest.
"So, um, I quit my job. In a recession," she writes. "Go figure. Goodbye Morgan Stanely, hello I.AM.YOU. studio. The moral? Maybe it's follow your bliss? Or, if you've never tried yoga, how about this: If I delved in, so can you."
But if you are not into turning yourself into pretzels, don't fret. There are several banks hiring right now as The Deal's Baz Hiralal reports in
Bear, Lehman & Merrill bankers still moving. Plus, things could be looking up for senior M&A bankers soon, according to
eFinancial Careers. "Right through this downturn, there has been a substantial amount of
interest in recruiting senior M&A people who will be revenue
incremental," a senior M&A recruiter said.
However, if you are thinking of a career change, there are several jobs that are
in demand that you may not have thought of, says eFinancial Careers. -
Maria Woehr
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