How successful are people
(Senior Orangutan, 394
Points)
on 12/1/10 at 2:06am
who perfectly followed the Goldman/Morgan to TPG/KKR to HBS career path? It would be interesting to see how they all turned out, whether they became Partners at TPG/KKR now or decided to settle down with a family and work at a less-stressful job, and if so, if working their asses off for the majority of their youth was worth it.
Any one have any anecdotes/friends who went this path?
I was a 2005 analyst so, most
I was a 2005 analyst so, most of my class and the couple before me recruited into PE/HF for 2005/2006/2007 starts, the handful that went to mega funds, went to HBS/GSB, and ended at fairly brand name shops. Shops ranging from Lindsay Goldberg up to Paulson/Soros/Moore.
From the guys I kept up with didn't see anyone go from like a Francisco Partners --> Wharton --> TPG, but they would go to a comparable shop whether in tech of similar sized fund...
Those that went from
TPG/KKR/BX/H&F/Bain Cap/SLP --> HBS/GSB --> comparable fund/top-tier HF
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I have a friend who did 3
I have a friend who did 3 years Lazard, a year at real-estate PE fund before it was acquired by Apollo, and is currently a VP. For someone who achieved what is regarded as true objective success, he doesn't seem to be too happy about it.
The thing is, sooner or later, most people begin to realize that as they get older, money and prestige are not sufficient to bring fulfillness. Remember that child-hood giddiness you might've had, dreaming about being an astronaut, an aerospace engineer, an archaeologist, a pilot? Very few 10 year olds have dreams about being in investment banking / private equity.
Unfortunately - by that time, most risk-averse individuals (i.e. the type that enters finance), are shackled by golden-hand-cuffs. They make a good living, enough to support a family, not enough to truly achieve permanent financial security (i.e. they can't just quit their jobs). It's also too late for most of them to pursue what they truly may have wanted to do in life (e.g. become a pilot or something).
People tend to think life is a race with other people. They don't realize that every moment they spend sprinting towards the finish line is a moment they lose permanently, and a moment closer to their death.
John Wooden on
John Wooden on success
http://www.chs.riverview.wednet.edu/Staff/Hall/pyr...
looking for that pick-me-up to power through an all-nighter?
+1 on the Coach reference,
+1 on the Coach reference, LIBOR.
I actually got to meet him a couple times and he was a truly incredible person. I loved to hear him talk about "Lewis" (Kareem Abdul-Jabbar) and for some reason I always remember a crack Adam Carolla made once on The Man Show:
"That was back before Lew Alcindor became Cassius Clay..."
ibhopeful532 wrote: I have a
I have a friend who did 3 years Lazard, a year at real-estate PE fund before it was acquired by Apollo, and is currently a VP. For someone who achieved what is regarded as true objective success, he doesn't seem to be too happy about it.
The thing is, sooner or later, most people begin to realize that as they get older, money and prestige are not sufficient to bring fulfillness. Remember that child-hood giddiness you might've had, dreaming about being an astronaut, an aerospace engineer, an archaeologist, a pilot? Very few 10 year olds have dreams about being in investment banking / private equity.
Unfortunately - by that time, most risk-averse individuals (i.e. the type that enters finance), are shackled by golden-hand-cuffs. They make a good living, enough to support a family, not enough to truly achieve permanent financial security (i.e. they can't just quit their jobs). It's also too late for most of them to pursue what they truly may have wanted to do in life (e.g. become a pilot or something).
People tend to think life is a race with other people. They don't realize that every moment they spend sprinting towards the finish line is a moment they lose permanently, and a moment closer to their death.
so where do you fit in here? were you one of those rare 10 year olds?
ibhopeful532 wrote: I have a
I have a friend who did 3 years Lazard, a year at real-estate PE fund before it was acquired by Apollo, and is currently a VP. For someone who achieved what is regarded as true objective success, he doesn't seem to be too happy about it.
The thing is, sooner or later, most people begin to realize that as they get older, money and prestige are not sufficient to bring fulfillness. Remember that child-hood giddiness you might've had, dreaming about being an astronaut, an aerospace engineer, an archaeologist, a pilot? Very few 10 year olds have dreams about being in investment banking / private equity.
Unfortunately - by that time, most risk-averse individuals (i.e. the type that enters finance), are shackled by golden-hand-cuffs. They make a good living, enough to support a family, not enough to truly achieve permanent financial security (i.e. they can't just quit their jobs). It's also too late for most of them to pursue what they truly may have wanted to do in life (e.g. become a pilot or something).
People tend to think life is a race with other people. They don't realize that every moment they spend sprinting towards the finish line is a moment they lose permanently, and a moment closer to their death.
speak for yourself.
being a pilot would be boring as shit. becoming an astronaut/aerospace engineer would require years studying extremely difficult shit all day just to get a shot, and the success rate is far lower than in any other field. 10 year olds don't know shit about anything other than whats been glorified in popular culture.
private equity/hedge fund work on the other hand is exciting and challenging. if successful you can find yourself truly powerful. detectives can have 10 year olds fantasize about their jobs after watching CSI:Miami, i would rather take my bonus please.
a man is successful if he
a man is successful if he wakes up in the morning, goes to bed at night, and does what he wants in between
- bob dylan
bo schembechler wrote: a man
a man is successful if he wakes up in the morning, goes to bed at night, and does what he wants in between
- bob dylan
most people use this "attitude" to backwards rationalize/justify their unproductive lifestyles. ironically they up the most unfulfilled.
bo schembechler wrote: a man
a man is successful if he wakes up in the morning, goes to bed at night, and does what he wants in between
- bob dylan
That would discount bankers then wouldn't it? They work on DCF models late into the night, they don't sleep.
ibhopeful532 wrote: People
People tend to think life is a race with other people. They don't realize that every moment they spend sprinting towards the finish line is a moment they lose permanently, and a moment closer to their death.
Well said.
For my aspiring Entrepreneurial Nomads, check out my blog.
ibhopeful532 wrote: I have a
I have a friend who did 3 years Lazard, a year at real-estate PE fund before it was acquired by Apollo, and is currently a VP. For someone who achieved what is regarded as true objective success, he doesn't seem to be too happy about it.
The thing is, sooner or later, most people begin to realize that as they get older, money and prestige are not sufficient to bring fulfillness. Remember that child-hood giddiness you might've had, dreaming about being an astronaut, an aerospace engineer, an archaeologist, a pilot? Very few 10 year olds have dreams about being in investment banking / private equity.
Unfortunately - by that time, most risk-averse individuals (i.e. the type that enters finance), are shackled by golden-hand-cuffs. They make a good living, enough to support a family, not enough to truly achieve permanent financial security (i.e. they can't just quit their jobs). It's also too late for most of them to pursue what they truly may have wanted to do in life (e.g. become a pilot or something).
People tend to think life is a race with other people. They don't realize that every moment they spend sprinting towards the finish line is a moment they lose permanently, and a moment closer to their death.
What most people want to be when they're ten is heavily influenced on uniform. Very small children want to be firemen, police officers, and doctors because their snazy outfits are easily recognizable as symbols of authority and prestige. For children who are just beginning to grasp social norms this can be very powerful.
Also, you should poll all those friends who didn't manage to make it in finance and instead followed their dreams to art school. I imagine those friends are not nearly as happy as your VP banker.....
Quote: What most people
What most people want to be when they're ten is heavily influenced on uniform. Very small children want to be firemen, police officers, and doctors because their snazy outfits are easily recognizable as symbols of authority and prestige. For children who are just beginning to grasp social norms this can be very powerful.
Also, you should poll all those friends who didn't manage to make it in finance and instead followed their dreams to art school. I imagine those friends are not nearly as happy as your VP banker.....
So let me get this straight - you're saying that bankers somehow are granted real prestige / authority? The prestige assigned to a doctor, a fireman, a police officer is *very* different than the "prestige" of a banker.
Prestige is a glorious thing.
Prestige is a glorious thing. That said, the main reason I pursue prestige at this point in my career is not to feel good about myself (people that do that are lame / have personal issues). The main reason is that my experience working at a first time private equity fund has shown me that prestige and track record are crucial to being able to raise capital from limited partners. I want to have my own PE fund on day, and I'll need to have worked at some successful PE shops / banks and have built relationships and a reputation in the industry before I can do that... The ultimate goal for any true PE player should be to start your own Fund... not have the "prestige" of working at BX / KKR... I'd rather have my own 500mm fund (chairman/ceo) then be a SMD at blackstone making the same amount of money... the sky is the limit if you're the boss and you don't have to take shit from anyone (other than your LPs)
Are bankers even assigned any
Are bankers even assigned any prestige these days? After getting bailed out by the gov't for all the mayhem they caused and destroying people's 401k's and home values? (At least that's what the public narrative is) If anything, I personally go around telling people "Yeah, I got an offer in finance. I know, I know, the only reason I'm taking it is because I got rejected from Google and Facebook... :( " (I'm a software dev by the way)
What tangible good do bankers do for society that would give them any form of prestige? A doctor and fireman save people's lives. A soldier risks (and often gives) their lives to fight for freedom, supposedly. A software engineer at Google, Apple, or Facebook makes a product that simplifies people's lives and/or enriches their experiences. What does a banker do for anyone besides himself or herself?
Jealousy is not prestige. People are jealous of bankers and high-end prostitutes, but they don't admire them. But people admire soldiers, doctors, firefighters, and Peace Corps volunteers, but aren't jealous of them.
sorry double post
sorry double post
I've been an aerospace
Yes those jobs are
ibhopeful532 wrote: Quote:
monkeysama wrote: Fuck that,
Slaying Alpha wrote: I was a
7toaster wrote: monkeysama
^I sincerely hope this was
If I had asked people what they wanted, they would have said faster horses - Henry Ford
Don't think so. Look at
Quote: This gupta23 character
Work hard, play hard.
7toaster wrote: Are bankers
Gupta, I crown you the asshat
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^LOL
gupta23 wrote: 7toaster
gupta23 wrote: lol I agree,
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guys, who the fk cares
International Pymp
It’s no mystery that ass has always been tits’ greatest enemy... It’s almost like a Muslim-Jewish thing, but with tits and ass.
Of course I know the
ibhopeful532 wrote: I have a
7toaster wrote: Of course I
^^^Google is far from an
higher wrote: corporations
Edmundo Braverman
looking for that pick-me-up to power through an all-nighter?
oh no we r getting into the
higher wrote: oh no we r
looking for that pick-me-up to power through an all-nighter?
Edmundo Braverman
It’s no mystery that ass has always been tits’ greatest enemy... It’s almost like a Muslim-Jewish thing, but with tits and ass.
higher wrote: 7toaster
It’s no mystery that ass has always been tits’ greatest enemy... It’s almost like a Muslim-Jewish thing, but with tits and ass.
LeveragedFiend wrote: higher
eyelikecheese wrote: I am no
It’s no mystery that ass has always been tits’ greatest enemy... It’s almost like a Muslim-Jewish thing, but with tits and ass.
LeveragedFiend, You would ask
sorry double post
LeveragedFiend
eyelikecheese
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I was recently at an alumni
There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
econ wrote: A corporation
7toaster wrote: econ wrote:
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