The Corporate Raid on Campus: Finance industry recruiters are starving critical fields of talent and steering an entire generation into soulless jobs. (Zach Marcus, March 23, 2025, Washington Monthly)
Like many incoming freshmen, Audrey arrived at Middlebury College without a clear plan for her future. “I knew pretty much nothing about finance,” she admitted. “I watched Succession.” But she was certain about one thing: securing a successful, well-paying career during college was nonnegotiable. After attending a high school with an “extreme amount of wealth” and now navigating a similarly privileged environment at Middlebury as a student on financial aid, she felt constantly reminded, “S[***], I need to make money.”Although she had previously explored opportunities in public law—volunteering at a free legal center where she simplified legal documents to make them accessible for young people and interning at a court—at college it was hard to resist the pull of the finance recruiting machine. Jokingly dubbed the “Middlebury Mafia,” the school’s finance network is vast and the on-campus recruiting is intensive: newsletters, information sessions, networking breakfasts, and even curated trips to New York City, where students meet Middlebury finance alumni and get a taste of their world (parties included). “I signed up for all the career center materials, but finance was the only thing I saw,” Audrey told me.
One side effect of the high cost of elite schools is that the kids come from elite families so they’re focussed on a high paying career, not activism.