Out Of Work Wall Streeters Becoming Freelancers

Yes, they need work, but not so sure that the skills that they used working at a bank will lend themselves to what’s needed to succeed as solo practitioners.

FT: Self-employed workers already account for nearly a third of the US workforce – up more than 25 per cent in the past two years.

And recruitment experts such as William Ayers, who runs an outplacement service, say the trend could be magnified by the loss of jobs on Wall Street.

…Indeed, the Freelancers Union has noticed a sharp increase in applications in the past couple of months to about 3,000 a month – a possible sign that former Wall Streeters are looking to fly solo.

The issue for once high-profile bankers is whether they will be prepared to become stay-at-home traders.


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