The Making of an Investment Banker: Stock Market Shocks, Career Choice, and Lifetime Income
研究发现，MBA学生在校期间的股市行情显著影响他们毕业后是否直接进入华尔街，且早期进入华尔街的人更可能长期留任并赚取更高收入，说明投资银行家更多是环境造就而非天生。
ABSTRACT I show that stock market shocks have important and lasting effects on the careers of MBAs. Stock market conditions while MBA students are in school have a large effect on whether they go directly to Wall Street upon graduation. Further, starting on Wall Street immediately upon graduation causes a person to be more likely to work there later and to earn, on average, substantially more money. The empirical results suggest that investment bankers are largely “made” by circumstance rather than “born” to work on Wall Street.