Forum Post: Wall Street Replacements

I don't think the best and brightest of our generation (currently college senior) should be heading off to wall street but it has happened now for many years. They work insane hours and are extremely overqualified intellectually for their jobs. I think this works against the progression of our society (they should be entrepreneurs, scientists, etc.) Still, whether they should or shouldn't is outside the scope of my question which is...

Do any of you fear getting replaced, personal denial aside, if wall street was extremely curtailed? If thousands of Wharton/Harvard/Stanford etc. graduates started to take the jobs the next level down, doesn't that push you further down the career hierarchy? Every job becomes more competitive if the most competitive leave wall street. Do you really think all these ivy leaguers in your industry wouldn't hurt you? I'm not at an ivy league school