The consensus from a recent American Banker analyst roundtable was that banking is not a good field to recommend to one's progeny. But bankers commenting at BankThink.com were divided on the question.
"I have been in banking for 17 years and due to the current compliance environment, I would never recommend it as a career choice," said "dkelly." Similarly, "spedro" wrote: "After 30 years in banking, I still love what I do. … But the compliance bureaucracy and government regulatory inconsistencies make it a field I would not pursue if I were a young person today."
But one reader did raise her son to be a banker: "He knew when he was in 2nd grade after going on a tour with his class to a bank," said Mary B. And "rchiddy" wrote: "I would be proud if my daughter were to become a banker.… The media has significantly contributed to tarnishing this honorable profession by poorly differentiating the investment banking industry from actual bankers."
Speaking of media, a recent BankThink post about the HBO movie "Too Big to Fail," which dramatized the bailouts of 2008, prompted a lively back-and-forth.
"The question is why did [the government] not see it coming" said jimsturgeon. "Filippon" responded: "Plenty of people saw it coming, but only government could have stopped it … maybe. … Funny thing is that it is still not over yet."
"Billgamo" asked: "What about the failure to ensure that the $125 billion given to the banks at the end of the movie would be then loaned out to consumers?" Perhaps the sequel will address that.