Young Money by Kevin Roose Summary

Young Money provides an insider’s view of Wall Street’s post-2008 crash culture through the experiences of eight entry-level bankers at firms like Goldman Sachs and Bank of America Merrill Lynch. It explores their grueling workloads, moral dilemmas, and the industry’s transformation after the financial crisis, blending personal stories with analysis of prestige, excess, and shifting values in finance.

This book is ideal for readers interested in finance, workplace culture, or post-recession economic shifts. It appeals to aspiring bankers, career-driven professionals, and anyone curious about Wall Street’s hidden mechanics, offering lessons on ambition, resilience, and the cost of success in high-stakes environments.

Roose reveals a world of 100-hour workweeks, intense pressure, and recreational drug use, where young bankers trade personal lives for six-figure bonuses. The book highlights the industry’s "glamour meets masochism" ethos, showing how post-crash austerity stripped away prestige, leaving behind a soul-crushing grind.

The crash reshaped Wall Street’s recruitment and priorities, forcing young bankers to navigate layoffs, reduced bonuses, and public distrust. Roose’s subjects grapple with the ethical fallout of the crisis while adapting to a more risk-averse, regulated industry.

While exposing excess and burnout, the book avoids outright condemnation. Roose balances critiques of exploitation and moral ambiguity with empathy for bankers’ personal struggles, offering a nuanced look at systemic and individual flaws.

Unlike Michael Lewis’s 1980s-focused Liar’s Poker, Roose’s book examines post-2008 Wall Street, where crises and scrutiny have replaced unchecked swagger. Both expose industry excess, but Young Money emphasizes generational shifts and the erosion of traditional perks.

• Wall Street’s allure often masks exploitative workloads and ethical compromises.
• The 2008 crisis permanently altered finance’s culture, priorities, and public perception.
• Young bankers face a trade-off between financial rewards and personal well-being.

Roose, a New York magazine writer and former Times reporter, combines investigative rigor with narrative storytelling. His three-year, unauthorized access to bankers provides authenticity, while his focus on millennial struggles adds generational context.

Some argue the book overly sympathizes with highly paid bankers despite their privileges. Others note it focuses narrowly on entry-level roles, omitting senior perspectives. Roose addresses these by highlighting systemic issues over individual blame.

As finance faces new challenges—tech disruption, remote work, and evolving worker expectations—the book’s insights into resilience and adaptation remain timely. It serves as a cautionary tale for industries prioritizing profit over well-being.

Through dilemmas like withholding client risks or justifying lavish bonuses, Roose shows young bankers reconciling ambition with ethics. Many ultimately leave Wall Street, questioning whether their work adds societal value.

• “Wall Street eats its young”: Reflects the industry’s exploitative treadmill for junior bankers.
• “The crisis didn’t change Wall Street—it changed us”: Highlights bankers’ post-2008 disillusionment and adaptability.