5 ms·
250k 3 years out of college? Jesus... I have plenty of Ivy league friends in IB & PE making no where near that.. He landed a serious gig. Definitely tough to l
by Casc 15y ago
250k 3 years out of college? Jesus... I have plenty of Ivy league friends in IB & PE making no where near that.. He landed a serious gig. Definitely tough to leave something so cushy so young. Sometimes it really is all about the game.
- CapitalistCartr 15y agoWhat is IB & PE?
- tansey 15y agoInvestment Banking and Private Equity
- itg 15y agoYeah, I don't know anyone a few years out of college making that money in finance, even if you add in bonuses.
- veyron 15y agoProbably because they went to large banks. You can get offers out of college paying 300K+ if you join a smaller outfit.
- rdouble 15y agoIt seems like a baller gig like that would make it _easier_ to quit and start something up. You'd be able to save so much more money, than say, someone who took a typical Silicon Valley entry level programming job. If he had chosen to work at Google, he'd have been lucky to make 1/2 that.
- Casc 15y agoI'd agree with your logic if he was in the tech industry, but he wasn't. He had 0 technical skills, his barrier to entry was far greater than money.
- bitanarch 15y agoAgreed. Money is not really the thing in shortage, the ability to execute is. And the ability to implement the product, and by extension, understand what and how much resources are needed to implement a product, is a big part of that.
- yoshyosh 15y agoIf you were guaranteed $250k a year with potential to receive more every 5 years or so, were able to buy a house, nice car, and support a family without worrying about any financial hardships, you think it would be _easier_ to quit? To go to what, the potential for no salary, constant paranoia of whether you made the right decision or not, and get into a field you know relatively nothing about? It's a pity that these tremendous acts of courage are often overlooked because its _easier_ to walk away from a lot of money.
- wdrury 15y agoStarting anything and seeing it through takes courage. However, it doesn't seem more courageous to me to start a company with, say, $200k in the bank than to start with no money. Runway matters.
- rdouble 15y agoIf you were guaranteed $250k a year with potential to receive more every 5 years or so, were able to buy a house, nice car, and support a family without worrying about any financial hardships, you think it would be _easier_ to quit? Yes. If he was being paid $250K/yr, that means he did a great job while he was there. It would not be that difficult for him to return to finance. I've quit my job a couple times to travel and when I returned to the workforce my new position paid more than I made previously...
- reinhardt 15y agoI can think of at least two opposite mindsets: A. On the one end, one optimizes for overall expected yield. There's no finite target, the goal is "as much as possible". With this objective, walking away from a lot of low-risk money for much less and high-risk is much harder. Similarly, the lower the starting point, the more open you are to take up risk because you don't have much to lose anyway. B. On the other end, one has specific targets. Once these targets are met, money ceases to be a decision criterion. With this frame, it is actually easier to walk away from a lot of money after you have achieved X, Y and Z. These are simplified extremes of course, in reality it's a mix of both and shifts over time, but it goes to show that there's no single "correct" answer.
- brown9-2 15y agoDon't forget about the time period - 2006.