Up and down Wall Street, droves of bankers are changing jobs — switching banks, moving to investment firms, taking equity stakes in financial technology companies or cryptocurrency start-ups — and sometimes getting out altogether. Pandemic-inspired ennui, blockbuster profits and a war for talent across the industry has accelerated the job churn at the country’s big banks.
“People are exhausted,” said Alan Johnson, the managing director of Johnson Associates, a Wall Street compensation consultancy. The ranks of those earning $10 million or more will grow amid competition for top performers after a bumper year for earnings, Mr. Johnson said, but “money doesn’t always make you happy.”
The New York Times / February 8, 2022