Educators and pundits have been bemoaning the lack of science and engineering talent coming from U.S. colleges for years now. But a new study from researchers at Rutgers and Georgetown, noted by IT Jungle, shed light on what's really going on: Wall Street is hiring the best and brightest science, technology, engineering, and math (STEM) students. In the hey day of the mid-1990s, when broker dealers, hedge funds and related firms started offering huge salaries to top students, they were able to attract the top fifth or so of STEM graduates. Lower quality students have filled in the gaps at other firms. The study makes clear the number of students graduating with STEM degrees and entering the workforce has not declined; U.S. schools are cranking out plenty of qualified students.

You have to wonder whether the recent pyrotechnics on Wall Street will make it easier for non-financial companies to hire qualified STEM graduates. My sense is that the technology hiring spigots are about to open once again on Wall Street. So the moment may have passed. Is this alarming? If you buy the idea that financial engineering does not lead to real, value-add sort of products then maybe you should be worried. Most of us do not think this talent is being wasted. 

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