Yea, I had a similar experience at a Wall Street firm to the OP. However, my conclusions were different. My advice to this guy is the same advice I had for my younger self back in 2009: "Get out while you still can!".

I wrote a blog post reflecting on my experience. Here is the relevant snippet:

  Working at the bank was a huge change from the rest
  of my life. The primary focus of my job became my
  paycheck. Technology decisions were made for me, by
  external committees. I was expected to follow all sorts
  of processes and procedures. I was expected to become 
  a conventional programmer. I found myself building
  products that had an unclear end-user.
  
  I did learn things there, too. I learned what it was 
  like to work with engineers on a daily basis. I learned
  a lot from my managers and colleagues, many of whom were
  just astoundingly intelligent individuals. I learned how
  big companies operated. But mostly, I learned a lot about
  myself.

  I learned that work meant more to me than a paycheck. 
  Work should be about solving problems, helping people, 
  and creating enduring value. Money is important, but 
  it wasn't what attracted me to technology in the first
  place. And that's why I knew I had to leave that firm.

from "What One Does", http://www.pixelmonkey.org/2010/10/16/what-one-does