
Disclamer: see subj.
Seen both sides, reasonably successful in both areas, prefer finance because:
1. Less BS, more meritocracy (surprise!). Science does not have money => in science you need to BS big times to get grants. The outcome of research is often probabilistic and luck could matter more than hard work. When the research is done by a large group often the loudest voice gets most of the credit.
2. Sense of achievement: In science you work on the problem only 100 ppl in the world could understand. The rest are constantly asking: "Why are you wasting your time and taxpayers money doing this?". Seeing B- student making 10X your salary does not help either.
3. It is next to impossible to get fired from govt. lab. After 10-15 years of existence a good part of its workforce is staying there just because they can not find job anywhere else. Working in such environment could be very demotivating ( anyone from NASA or Fermilab want to comment? )
3a. More and more people stay in science just because they can not find job anywhere else or they just afraid to change their field.
4. Immigration issues do not make it better. It is easier to get Green card working in the bank than working in academia.
As a side comment: I few of my friends with PhDs left for Canada, Europe, and Russia within last 3 years. Some from academia some from finance. Some of them were doing top notch research, some were paying >$100K of taxes each year. This country shoots itself in the foot by not keeping PhDs from top schools.
5. Just for Slashdot: It is easier to get laid.
http://www.fashionmeetsfinance.com/
The drawbacks are obvious: 60 hours/week working schedule, little or no vacations, occasional junk from taxi driver that "It is my personal fault that he can not pay his mortgage". Should I explain that most people working in finance are actually serving the society by providing financial services and lowering transaction costs?
Also it is not a closed club. From what I see, vertical mobility in high frequency finance will probably beat other industries.
Anyway, this rant is getting too long. Will appreciate comments.
"Can't you just gesture hypnotically and make him disappear?" "It does not work that way. RUN!" -- Hadji on metaphyics and Mandrake in "Johnny Quest"