Finance wannabes try Teach for America

With hiring slow on Wall Street, business and economics graduates are applying to Teach for America, deferring the search for a finance job, reports the New York Times.

In the last several years, hundreds of such would-be finance professionals and management consultants have taken their high-powered ambitions and spreadsheet modeling skills to the classroom.

. . .  Teach for America says that its 2012 class contained about 400 recent graduates with a major in business or economics. Of those with professional experience, about 175 worked in finance.

The new recruits bring valuable analytical skills to teaching, reports the Times.

Ross Peyser, a 2011 graduate of Cornell and a second-year teacher in New Orleans, was once an intern at Oliver Wyman, a financial services consulting firm. As a teacher, he still plays the role of data analyst, creating Excel spreadsheets to diagnose his students’ learning needs.

. . .  “I had a stronger basis to do my data analysis compared to all the other teachers in my school,” Mr. Peyser said.

Teach for America requires only a two-year commitment, which means that many corps members leave the classroom just as they’ve hit their stride as teachers. “Of its 28,000 alumni, two-thirds remain in education roles, including as principals and superintendents (about half of those educators are in classroom settings),” TFA tells the Times. But turnover rate is likely to be higher for those with a shot at high-paying finance jobs.