I'd also add it is upsetting to see engineers and comp sci grads head off into finance to build credit default swaps and binary exotic options instead of, as you said, working on things that really matter. I'm guilty of it myself, but escaped 2 years ago and started a company to help soon to graduate students find cool companies, rather than just those that can come to campus.
I believe the reason for the Wall St / hedge fund path is the promise of working in a challenging work environment, solving difficult problems, and earning a lot of coin. The first two wore off for me after 2ish years and the financial crisis detracted from the last. They can be a persuasive siren song though and it is easy to settle when there aren't a lot of other options that are immediately available.
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I'd also add it is upsetting to see engineers and comp sci grads head off into finance to build credit default swaps and binary exotic options instead of, as you said, working on things that really matter. I'm guilty of it myself, but escaped 2 years ago and started a company to help soon to graduate students find cool companies, rather than just those that can come to campus.
I believe the reason for the Wall St / hedge fund path is the promise of working in a challenging work environment, solving difficult problems, and earning a lot of coin. The first two wore off for me after 2ish years and the financial crisis detracted from the last. They can be a persuasive siren song though and it is easy to settle when there aren't a lot of other options that are immediately available.