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Young Money: Inside the Hidden World of Wall Street's Post-Crash Recruits

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3.65  ·  Rating details ·  3,809 ratings  ·  256 reviews
Becoming a young Wall Street banker is like pledging the world's most lucrative and soul-crushing fraternity.

Every year, thousands of eager college graduates are hired by the world's financial giants, where they're taught the secrets of making obscene amounts of money-- as well as how to dress, talk, date, drink, and schmooze like real financiers.

YOUNG MONEY is the insi
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Hardcover, 336 pages
Published February 18th 2014 by Grand Central Publishing (first published January 1st 2014)
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3.65  · 
Rating details
 ·  3,809 ratings  ·  256 reviews


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Gil Bradshaw
Feb 24, 2014 rated it really liked it
This was an honest account of what its like to work on Wall Street, but not just as an I-Banker. I represented banks out there and my life was very similar.

I thought it was going to be more salacious (a la Michael Lewis), but it actually was a very honest account.

His thesis is "gee, isn't it unfortunate that our best and brightest are going into investment banking when they could be doing something productive" and "this is a problem because when the ivy-league-trained 'best and brightest' infil
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Hayley
It's very hard to feel much pity for anyone who's roughly my peer (I'm 27) whose yearly "bonus" is $20,000. Harder still when that $20,000 (or even $10,000) is a disappointment, because it means they're nearer to the bottom of the barrel. However, it becomes a little easier when Roose makes clear the trade that these young financiers are making in order to get those salaries at such a young age.

"Money goes from being something that is infrequently discussed to being the primary subtext to everyd
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Kate H
Mar 10, 2014 rated it it was ok
OK, I read this on impulse...it was positively reviewed in The Week. It's a quick read and somewhat fun if you want to take a trip back to your post-collegiate years.

My husband has worked in finance since his late 20's. He now supervises and trains many 20-something analysts, really enjoys it, but is surprised by generational differences...but I digress.

Young Money can't seem to find its central argument or even a theme. Is this a book about finance or a book about being a young person and how p
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Rebecca McNutt
Dark and sometimes very surprising, Young Money is a close look at the cutthroat world of Wall Street business and those who fall into it.
Nick Black
fun, with some gem anecdotes, but very superficial. worth reading if you (like me) loved liar's poker, or (also like me) have just moved to NYC, lured by gobs of money, and need to make sure you look around now and again. you certainly won't learn anything about banking or finance.
Eric Gardner
Mar 10, 2014 rated it it was ok
Bottom Line: Young Money does not offer an in-depth description of the financial services industry or a grand explanation for its failings. Rather, it is a light and breezy look at the impact of the finance culture on the lives of eight young people.

For three years New York’s Kevin Roose followed the careers of eight young Wall Street workers to research Young Money. Released last month, the book is many things: a look at the culture of Wall Street through the eyes of those at the bottom, an exp
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Alisi ☆ wants to read too many books ☆
Whiny, whiny, whiny! God, the 'poor me' is so thick in this book. This sounds more like a PR piece than anything else.

I wonder how much these big banks paid for this PR book. There's nothing about bad, or even remotely scandalous, about this book, and there's a whole lot of 'besides what public opinion might be, they never did anything illegal.' And, seriously, this author says he has to actually 'find' the supposedly "bad seeds" (aka students that were in it only for the money) because all the
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Jeff
Feb 27, 2014 rated it liked it
I read this book because it has been the subject of healthy discussion in the lunchroom since its publication. I enjoyed the read, mainly because it was something different. In light of the media blitz around its publication, little needs mentioning about the plot, except to say that, as the adage goes, money does not buy happiness, health, or true wealth. I think the book read too much like a Vanity Fair expose, so I’m not sure this one can be measured on any literary scale. Young Money should ...more
Michelle Farley
Apr 06, 2014 rated it liked it
And people wonder why I quit working for Wells Fargo...
David Fulmer
Jan 30, 2018 rated it it was amazing  ·  review of another edition
‘Young Money’ is a fly-on-the-wall account of a handful of young bankers just out of college who found jobs working on Wall Street around 2010. Kevin Roose convinced a few anonymous employees of such august institutions as Goldman Sachs and Bank of America to sit for interviews so that he could present this account of Wall Street following the financial devastation and drop in status that came with the Global Financial Crisis of 2008. He supplements the personal narratives with thorough research ...more
Francis
Mar 28, 2018 rated it it was amazing
Entertaining read. Finished it in 2 settings.
Brian
Jun 08, 2017 rated it liked it
Shelves: business, non-fiction
This is a good behind the curtain view of the inner-monologue of a handful of young Wall Streeters. It should probably be required reading at university business schools in a full-disclosure way. Nothing revolutionary; it's more like confirming some things we already suspect about how the street grinds young people into either submission or oblivion. Glad I didn't chase dollars at a bank.
Ryan
While the premise of the book is great—Kevin Roose follows eight young Wall Street recruits, and utilizes their experiences as a focal point for exploring the hidden world they inhabit—the author falls seriously short with what this book could have been.

From the outset, it becomes abundantly clear Roose does not have anything remotely close to a central thesis or greater point. Besides rhetorically using these eight post-college recruits as a way to lionize 'the youth' and demonize Wall Street w
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Amanda
Feb 21, 2015 rated it liked it
Shelves: nonfiction, finance
As a Millennial working at an investment bank, I had to read this book sooner or later, and my enthusiasm over Kevin Roose's first book The Unlikely Disciple was a great impetus to finally read Young Money.

In the press tour around the book's release, Roose's interviewers focused on what his three years of reporting meant for American culture, the banking industry, the ethics of finance, and such. Those conversations are good to have, but they're not what the book is about. Young Money charts th
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Vegantrav
Jun 13, 2014 rated it really liked it
Young Money tells the stories of a handful of recent college graduates (most of them from Ivy League schools) who are beginning their careers on Wall Street as investment bankers and analysts of various types at some of Wall Streets largest firms: JP Morgan, Bank of America, Citigroup, Goldman Sachs, and Credit Suisse.

These Wall Street neophytes work 80 to 100 hours a week in an extremely high stress environment: they often put in 16 hours or more a day during the week and many times even 10 hou
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Ruth
Aug 22, 2014 rated it really liked it
I hesitated between 3 and 4 stars. In some ways, this book is "light". But that may be a good thing, as any deep mathematical concepts would have been beyond me. The author follows 6 or so ivy league graduates who are recruited into Wall Street firms. We find out why they chose to go to Goldman-Sachs or whatever financial institution, and how their lives evolved. The hours a 2-year associate are forced to keep are truly punishing. As are the degradations. One guy just stayed at the office Mon-Th ...more
Jan
Mar 19, 2014 rated it liked it
Shelves: business
I feel a bit harsh giving this book 3 stars, as it probably deserves a bit more (3 and a half)...

It makes for an enjoyable read which you'll get through in a day or two, as Kevin Roose has a good writing style, and the stories of the eight graduates working at Wall Street are interesting. However, ultimately there just isn't much new or particularly deep in the book - while I enjoyed the view from the characters in the story, it feels relatively thin considering we are covering 2-3 years of thei
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Bomalabs
Sep 12, 2016 rated it liked it
Still rearing from the Moneyball-High, I immediately devoured this related book about young people working on Wall Street during the Occupy Wall Street movement back in 2011. Well-written enough to Keep me entertained for the whole Monday Holiday. Getting into the heads of Fresh Grads working at the Big banks. Main Idea was people from Ivy Universities used to go to these too-big-to-fail Banks almost by default until they know what to do with their lives due to the undeniably huge pay, but now t ...more
Kyle Boehm
Feb 27, 2014 rated it really liked it
Fast and interesting read. As someone who entered the job market in 2010, this book hit home on a lot of issues facing college graduates at that time. Even though I wasn't heading to Wall Street and 100 hour weeks, the attitudes reflected in the book by the young investment bankers were attitudes that I could connect to my experience, or the experience of people I know.

The book provides a nice, brief crash course on investment banking, but doesn't bog down the story in technical details. You can
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Liz
Nov 27, 2013 rated it it was amazing
Roose takes us on a tour of a year in the life of several young bankers-- fresh out of college, top of their class. A fascinating account of how banks recruit these brilliant kids, then stick them on desks 24/7 to perform grueling, monotonous work. An insightful look at how the industry has changed since the financial crisis of 2008. A book as much about the economy as it is about the "quarter life crisis." Should these kids stay or get out altogether? Some make the leap to startup in Silicon Va ...more
Meave
Feb 18, 2014 rated it really liked it
I'm dubious that the Wall Street culture is changing as much as he argues it is, but he did make some interesting points about recruitment. If the firms are changing their two-and-out analyst programs, and there are fewer of those jobs to begin with, maybe more people who might've otherwise done something more interesting will choose to pursue that instead of going into banking or whatever. Maybe it's good that even Wall Streeters are feeling the same bottomless terror of no guarantee of employm ...more
Mandy
Oct 02, 2016 rated it really liked it
Captivating read about young Wall Street analysts in the wake of the U.S.'s financial crisis. While I am personally sympathetic to his arguments about the harms of having our best and brightest being sucked up by the financial sector, I'm not sure his storytelling will convince those who don't already agree. But overall this book raises important questions about what we value and the uglier sides of achieving an American Dream focused on wealth and individual prestige.
John
Mar 10, 2014 rated it liked it
Pretty dark. Welcome to a place where the most disgusting ideals are placed on a pedestal. The biggest douchebags you can imagine are all in one place being molded into even bigger douchebags who somehow inadvertently run a giant sector of our country and basically our entire economy. Fucking terrifying.

Baby Patrick Batemans are being born.
Brady Dale
Feb 12, 2014 rated it it was amazing  ·  review of another edition
It's both amazing that he found this array of young people and got them all to talk. He also got into some pretty amazing rooms. One... in particular.
Kenzie
Mar 01, 2015 rated it liked it
Interesting but very repetitive.
Luke Jacobs
Mar 27, 2018 rated it really liked it
I feel like this should be required reading for college students. Roose may have focused on the banking industry, but his story can apply equally to many competitive jobs in the corporate world.

As a junior at a university which regularly sends top students to banks, this was a really eye-opening read. In fact, it just may have changed the direction of my own life. Before reading Young Money, I barely engaged in any sort of introspection about my future career goals or interests. Yet somehow afte
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Bill Weaver
Jan 14, 2019 rated it it was ok
This book blew. The author--a Dealbook/Times journalist--knew very little about Wall Street and finance going on. The book tells the story of 8 (yes, 8!) fresh college graduates starting as analysts on Wall Street in 2009. There was little fun in the book, only tons of whining about the analysts' having little autonomy, terrible hours, and being forced to prepare endless Excel spreadsheets and pitch books.

What makes the book terrible is that it didn't have to suck. Why cover 8 new analysts fres
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Steve Nolan
Feb 02, 2018 rated it really liked it
Book is completely worth it for the part about Kappa Beta Phi. Holy goddamn shit, the global cabal of financiers are literally in charge of the US Gov't right now...which is what everyone was voting against. (It also, in listing Wharton grads, described one as "real estate megagoon Donald Trump." Whoo.)

I hate me some Wall Street, so it was nice to hear so many other people ripping it for not actually doing anything of value, but while making obscene amounts of money. It is incredibly depressing
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Luting Chen
Mar 21, 2019 rated it really liked it
I can probably resonate with somewhere between 80-90% of most of the anecdotes here.

It reminds me of the days of being an adrenaline addict (maybe I still am) - always overwhelmed, seem to have a constant need for urgency, even panic, to get me through the day. In the cult-like culture of an investment bank, I was brainwashed to believe in any deceleration is a lost opportunity - a short and more fulfilling life always triumphs one that is extended and uneventful.

Like an alcoholic after a nig
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Writemoves
Jul 28, 2017 rated it really liked it
I enjoyed this book and would recommend that younger people particularly those in college, read this cautionary tale. Roose shadowed eight college students about to enter career life working in financial and investment companies. I have heard previous tales of how companies like Goldman Sachs would work their new interns and young employees to death ( literally.) The abuse that these young employees endured certainly was not worth the money and promised bonuses that they received. Some people th ...more
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Kevin Roose is a 21-year-old senior at Brown University, a freelance journalist, and the author of "The Unlikely Disciple: A Sinner's Semester at America's Holiest University." During his sophomore year at Brown, Kevin left to spend a semester "abroad" at Liberty University, Jerry Falwell's "Bible Boot Camp" for young evangelicals, in order to learn about the lives of his Christian peers by living ...more
“No longer are job applicants to Wall Street firms asked, “When you meet a woman, what interests you most about her?” as applicants to Merrill Lynch’s 1972 brokerage trainee class were. (The answer the bank was looking for was “her beauty.”)” 0 likes
“Merrill Lynch, on the other hand, was a white-shoe firm with a proud history of elitism. Its investment bank was blue-blooded in temperament and composition, recruited primarily from Ivy League schools, and did only the more lucrative work of advising corporations, issuing securities, and managing money for ultra-wealthy individuals. In fact, many at Merrill Lynch considered commercial banking—the business of taking deposits, issuing mortgages, and giving loans to regular people—a lower form of commerce.” 0 likes
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