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"passion is a big part of it"Right, and having known a lot of the "Wall Street" type engineers in college, I'm not sure if I really want them in my field.
Yeah, they're smart and bright (you kind of have to be in those environments), but I know more than a few who went into engineering position at major investment banks - soul-crushing, mind-numbing work that it is solely because of the compensation.
Maybe this is me being too startupy-self-important, but that speaks to a complete lack of passion, that you're willing to take on the IT equivalent of coal mining, where the only real upside to your job is the gigantic paycheck. On this side of the divide I'd rather have people who place an utmost importance in the, well, work of their work - someone who will take a high-paying, rewarding position over a ludicrous-paying soul-crushing job.
This isn't some justification to pay people less - if we can sweeten the pot for new grads I'm all for it, but I'm not sure I really want to attract Wall Streeters to our side of the industry.