Less than a decade ago, Wall Street firms were the premier destination for young college graduates and talented executives… [and] Wall Street is certainly not hurting for talent [yet]… Last summer, Morgan Stanley had 90,000 applicants for roughly 1,000 entry-level summer jobs… [but the general trend was sufficiently changed –] Massachusetts Institute of Technology, a top source of young recruits, only 10 percent of undergraduates went into finance in 2014, compared with the 31 percent who took jobs on Wall Street in 2006 … Software companies, meanwhile, hired 28 percent of M.I.T. graduates in 2014, compared with 10 percent in 2006… At Harvard Business School, for example, the percentage of graduates going into finance dropped to 33 percent last year from 42 percent in 2006, while the numbers going into technology jumped to 17 percent from 7 percent.
– Wall St. Stars Join Silicon Valley Gold Rush By Nathaniel Popper and Conor Dougherty, New York Times. March 24, 2015

See also: Can Silicon Valley Survive “Wall Street’s infiltration”