Powerful ideas from top nonfiction
Try Blinkist to get the key ideas from 7,000+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Start your free trial
Blink 3 of 8 - The 5 AM Club
by Robin Sharma
Listen to the Intro
Young Money summary
Kevin Roose
Inside the Hidden World of Wall Street’s Post-Crash Recruits
15 mins
Brief summary
Young Money by Kevin Roose is a journalistic account of Wall Street's young, ambitious and disconnected bankers, exposing their obsession with money, their struggle with mental health and their journey to find meaning.
Topics
Table of Contents
Young Money
Summary of 8 key ideas
Audio & text in the Blinkist app
Key idea 1 of 8
Wall Street hiring is aggressive and begins at college.
Scoring a job on Wall Street seems like a rare honor. But in fact, companies on Wall Street are as eager to hire a smart young person right out of college as graduates are to make it to Wall Street.
Wall Street firms begin their search early to ensure they get only the best graduates, and that means bagging them before they’ve finished their degrees.
Well before other fields even consider setting up interviews, Wall Street firms start pursuing young minds on university campuses.
As early as the fall of their senior year, most Wall Street firms inform student applicants about job openings. Take a look at the statistics: the majority of Ivy League graduates who have job offers prior to graduation are going into the financial sector. That’s 46 percent in Princeton in 2006 and 28 percent in Harvard in 2008.
The best Wall Street companies spare no expense on enticing the smartest young minds and ensuring the hiring process is as simple as possible. But although it’s an easy process, it’s also aggressive.
Top firms hold presentations on campus, often boasting Jay Z-style promotional videos. One presentation by Morgan Stanley at Penn’s Wharton Business School spouted phrases like “Boundaries will be shattered,” and “In the finance world, every day is a new day,” to a pop-rock soundtrack.
As well as the presentations, companies also provide interview workshops, treat potential candidates to expensive dinners and follow up with phone calls. The interest they show in exceptional students is comparable to “polite stalking.”
So do any students actually fall for these gaudy presentations? You’d be surprised.
Want to see all full key ideas from Young Money?
Key ideas in Young Money
More knowledge in less time
Read or listen
Get the key ideas from nonfiction bestsellers in minutes, not hours.
Find your next read
Get book lists curated by experts and personalized recommendations.
Shortcasts New
We’ve teamed up with podcast creators to bring you key insights from podcasts.
What is Young Money about?
Kevin Roose spent three years following eight young Wall Streeters in an attempt to find how the 2007 crash – and its aftermath – influenced the financial industry. Young Money paints a decidedly grim picture of junior analysts who find themselves on a non-stop rollercoaster of all-nighters and extreme stress, while earning six-figure incomes.
Best quote from Young Money
Make no mistake: financial firms will never have a problem filling their ranks with smart, capable 22-year-olds.
—Kevin Roose
Who should read Young Money?
- Graduates considering a job on Wall Street
- People already working as analysts on Wall Street
- Anyone curious about life in the belly of the financial beast
Categories with Young Money
Book summaries like Young Money
People ❤️ Blinkist
Sven O.
It's highly addictive to get core insights on personally relevant topics without repetition or triviality. Added to that the apps ability to suggest kindred interests opens up a foundation of knowledge.
Thi Viet Quynh N.
Great app. Good selection of book summaries you can read or listen to while commuting. Instead of scrolling through your social media news feed, this is a much better way to spend your spare time in my opinion.
Jonathan A.
Life changing. The concept of being able to grasp a book's main point in such a short time truly opens multiple opportunities to grow every area of your life at a faster rate.
Renee D.
Great app. Addicting. Perfect for wait times, morning coffee, evening before bed. Extremely well written, thorough, easy to use.
People also liked these summaries
4.7 Stars
Average ratings on iOS and Google Play
28 Million
Downloads on all platforms
10+ years
Experience igniting personal growth