To the outside world, Wall Street banks looked like great places to be last year because they printed profits during the pandemic slump. To those inside, they now look like great places to leave, too.

Technology upstarts and investment firms are offering some unusually attractive opportunities to seasoned Wall Street professionals, including shots at multiplying their pay - an allure all the greater after banks showed restraint in doling out rewards for 2020. Exits are now proliferating as bonus season wraps up.

A pair of Goldman Sachs partners, including an architect of its consumer business, became the latest examples over the weekend by giving up coveted spots for an unconventional alternative: Walmart’s nascent financial-technology venture. A day later, news broke that another top Goldman executive left to join Tiger Global Management.

While Walmart certainly is not Wall Street, recruiters and industry veterans say the allure of such an opportunity is obvious: a shot at building something from scratch with enough resources to challenge incumbent players. That’s not to mention the potential riches if the new business succeeds.

“These people are very motivated, they’re super smart and they set goals for themselves,” said Noor Menai, CEO of CTBC Bank USA. They’re saying, ” ‘I built this, now I need to build something else.’ ”

Fintech is a hot space. Venture capital firms are pumping money into young companies. Businesses focused on cryptocurrencies, payments, financial advice and no-fee trading are taking off.

Companies embarking on financial services need experienced people - not so much generic investment bankers or management consultants, but those who understand the intricate, unsexy details of consumer banking, such as consumer protection and lending risk, said Menai.

A division chief making $US10 million to $US15 million ($12.8 million to $19.1 million) at a top bank can make two to three times that taking the helm of a company, with more upside over time, one senior executive estimated.