Trading Places

Inside views on the jobs market

Leave Wall Street, join a startup

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There’s nothing new under the sun. A decade after Wall Street’s best and brightest fled the financial industry for potentially lucrative stock option-based fortunes in the nascent dot com sector, the job market has once again full circle. Only this time, the start-ups have a massive pool of out-of-work bankers, traders and IT staff to draw from.

Venture capital firm First Round Capital is making a play for laid off financial industry workers, asking them to “Leave Wall Street, Join a Start-up.”

These days, startups are more stable than Wall Street (seriously).  And while a startup probably won’t offer the creature comforts of a job in the financial services industry, startups offer different benefits.  You get to participate in the creation of something new.  Your work makes a direct (and clear) impact on the success or failure of the company.  No more politics, endless meetings, or multi-layered organization structures.  Plus, you’ll likely get stock options to share the upside.

The site lists a few dozen jobs from First Round and other VC firms like Union Square Ventures.

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