When the oldest members of Generation Y, born roughly in the 1980s, began graduating from college, a collective groan was heard on investment desks throughout Wall Street.

Gen Y is the stereotypical tag attached to the rookie investment bankers that comprise the current pool of new hire candidates. Many bankers have claimed that Gen Y-ers have an excess sense of entitlement, are pampered, arrogant and lazy. They want to do work on their terms and receive a constant stream of feedback.

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