That story is horrible! I would have been so happy to decline that offer.
On the flip side, my best friend (single mom, low income) is thrilled with CMU’s financial aid office so far. Her older student attends Pitt, but her high school senior was admitted to CMU. We are hoping that the admitted students event is better that the admissions tour because her daughter’s cost of attendance at CMU is about 40% of what it would be at Pitt. She also has appreciated how quickly she can get an answer to her question.
Financial firms don’t have the allure of lottery ticket layoffs. More so for the tech team in financial firms. If you joined a startup there is always the hope of an ipo and a several million payoff. You need to be a certain kind of a boring non ambitious person to go into finance. I am in finance just before people start flaming me
Within the industry (or within the firm) it is sometimes easier to move from QT/QR roles to Quant SWE roles, but harder to move the other way.
The roles are very different, and the financial outcomes are very different.
Also, depending on the firm, there is less attrition risk in QT/QR roles than is feared from the outside.