What (and where) do you want to be when you grow up?

Fewer people want to be Wall Street bankers, apparently.

Recently, I’ve noticed several news accounts that seem to indicate that investment firms may have to compete a little harder to recruit future talent. One is a New York Times story that implied an exodus from the Wall Street world, due to shrinking salaries, reduced bonuses, and decreasing job stability.

Those same elements, along with a general change in the perception of what it means to be a Wall Street banker, seem to be causing business graduates to re-think their end game, and consider jobs outside the financial epicenter. (See this NY Times story.)

Implications: One of the benefits of being a big, successful company (or industry) is that you earn a reputation for being "an employer of choice.” The recent turmoil in the financial world seems to be impacting not only current and prospective customers, but current and prospective employees, too.

Lots of companies are facing challenge right now. (Turmoil is certainly not limited to the financial world!) Is your company meeting its challenges in a way that might seem over-reactionary, knee-jerk, or quirky? Or are you responding to challenge with a sense of confidence, conviction, and purpose? Do you behave as if your company has a bright future?

As symptoms of economic recovery become more apparent and frequent, companies will soon be competing for top talent to join their team. The track record that will make you an employer of choice (or not) is being built right now.