You might have thought Greg Smith, the former executive director and vice president of Goldman Sachs, was a 15-minutes-of-fame phenomenon. He is someone who makes a media splash as a complete unknown, gains notoriety, gets a book deal, generates modest reviews and then slinks back into obscurity. The Greg Smith story will indeed strike some as tired.
But he's still an object of interest for many, including young people who are pondering careers on Wall Street.
He recently did an interview with The Stanford Daily, saying,?"I'm not certainly going to be the person to tell students to go or not to go into finance. There are certainly a lot of positive aspects to finance. Unfortunately, actual finance on Wall Street is only 20 percent of the pie.
"So, what I would say to people is that if you are going into finance, go into it for the right reasons. Don't go into it because you think that it's the easiest career or because you think that it's the path you should take."
Smith adds it's important for would-be Wall Streeters to follow their instincts.
"The longer I've been in business and the longer I've been away from Stanford is that it's more important to follow your interests and your heart than what you think you should be going. I would encourage them to not lose track of their own ethical framework and to stay true to themselves no matter how long they stay in business. I would not encourage someone to go into something because it looks flashy, or that they're supposed to do it, or that society thinks it's the right thing to do."
That sounds reasonable enough.
For more:
- here's the article
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Lloyd Blankfein on the Greg Smith book
The real impact of the Greg Smith memo
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