Noto's not alone. An increasing number of finance professionals and business school students are flocking to tech jobs, leaving their banking careers behind.
"Since the financial crisis, finance as a status career has diminished and the relative attractiveness has shifted significantly in favor of tech," said Adam Zoia, CEO of search firm Glocap Search.
Tech is the third-ranked industry for full-time accepted offers, according to The Wharton School, the business college of the University of Pennsylvania, with 13.5 percent of 2014 grads accepting positions in the industry.That figure has rapidly grown from 5.6 percent in 2008. At Harvard Business School, 18 percent of the 2013 class went into tech, up almost threefold from 2008.
And it's not just new MBAs who are choosing tech—it's also people already started in banking who are switching. Cathy Li left Barclay's restructuring group to join Gilt Groupe in 2009.
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"Within the first two months, I knew I didn't want to stay," Li said. While she enjoyed the work, it's the culture that pushed her away.
"The guys seemed to have more of a bond. I didn't have a mentor, I seemed lost," she recalled.
Tapping into her network of contacts, Li reached out to a friend at Gilt Groupe who wrote online descriptions for sweaters.
"I thought if he could enjoy doing that, it was probably a good company to work for," Li joked. She applied for a position and was initially turned down, but continued to develop relationships, finally joining as a product manager.
But walking away from a highly sought and predictable salary is not always easy. Aside from income sacrifices, there are perceptions that bankers don't have the right industry experience, or that their style of working will disrupt the creative culture in places like Silicon Valley. But as more and more ex-bankers join tech firms, it is clear that these perceptions may not be true.