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2/19/11

i'm trying to get an idea of what kind of backgrounds people in this industry come from. approximately what is your parents' net worth? also post your field (ibd, s&t, etc.)

Comments (133)

2/19/11

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2/19/11

Unemployed, ~$0

Haha, I just realized how funny that probably looks. Hopefully, I'll close in on a job soon and then it won't look so depressing.

10/11/15
2/19/11

maybe PS20-30k if that

2/19/11

Consulting, 2mm

-MBP

2/19/11

A more appropriate question might be what do you parents do?

2/19/11

gauche much? more than mine by a significant margin.

2/19/11

4mm, Insurance sales

Reality hits you hard, bro...

  • VanillaThunder12
  •  2/19/11

My dad is 54 and makes $110,000 a year as a firefighter/paramedic and car mechanic. Not a lot, but he has his pension to look forward to.

2/19/11

would it be fair to say that most of us don't have parents who work in finance?

2/19/11

my dad's an entrepreneur of sorts and my mom works in marketing

2/19/11

Finance is a broad discription, technically if you are an entrepreneur you do finance work.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

2/20/11

Mom - retired Construction exec ~ 15 mm
Dad - Finance prof.

"Until and unless you discover that money is the root of all good, you ask for your own destruction. When money ceases to become the means by which men deal with one another, then men become the tools of other men. Blood, whips and guns or dollars."

2/20/11

Dad-12 mm - real estate developer
me 2 mm-- gotta love llc's and lawsuit protection
prop trading

IVY for Life

In reply to futuretrader1999
2/20/11

futuretrader1999:
Dad-12 mm - real estate developer
me 2 mm-- gotta love llc's and lawsuit protection
prop trading

how do you have 2 mil when your only 19?

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2/25/11
2/20/11

1. Real Estate Finance
2. <$1million

2/20/11
2/20/11

1mm NW. School planning and construction upper management.

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.

2/20/11

~ 500k Board Operater at an Oil Refinery and Nurse

2/20/11

50 million liquid. 10mm real estate

2/21/11

Consulting

Parents' net worth is basically zero, not counting the present value of pension/social security payments.

2/20/11

What a bunch of tools. Especially the loser with the audacity to add the .5 after the $67M like he has mark to market accounting on his parents finances, complete douche.

We've got half a million shares in the bag!

2/20/11

Me, ~240mm, knighted LBO maven.

Neither of my parents were knighted though, so negligible income and prestige.

2/20/11

Dad in BB Wealth Management S&T. Mom in Accounting. Not much in net worth. You can blame the pigs for that. No matter how hard you work some scumbag at the top will find a way to take it.

looking for that pick-me-up to power through an all-nighter?

In reply to PeakLapel
2/20/11

PeakLapel:
What a bunch of tools. Especially the loser with the audacity to add the .5 after the $67M like he has mark to market accounting on his parents finances, complete douche.

Way to miss the sarcasm, douche. I have no idea how much money my parents have, it's impolite to ask..
And if they were that rich, I wouldn't tell anyone let alone anonymous forum posters. I don't have problems with my dick size.
2/20/11

18 billion dollars ...........

Zimbabwean dollars that is.

In reply to monyet
2/20/11

monyet:
18 billion dollars ...........

Zimbabwean dollars that is.

Haha. You must have a hell of an education savings plan to eek college tuition out of a dollar and 44 cents US.

"Until and unless you discover that money is the root of all good, you ask for your own destruction. When money ceases to become the means by which men deal with one another, then men become the tools of other men. Blood, whips and guns or dollars."

In reply to feenans
2/20/11

feenans:
PeakLapel:
What a bunch of tools. Especially the loser with the audacity to add the .5 after the $67M like he has mark to market accounting on his parents finances, complete douche.

Way to miss the sarcasm, douche. I have no idea how much money my parents have, it's impolite to ask..
And if they were that rich, I wouldn't tell anyone let alone anonymous forum posters. I don't have problems with my dick size.

It's simpler than that. It doesn't even matter @ the OP. I don't know about everyone else but I have no interest in taking one penny from my parents other than for undergrad/MBA tuition, rent money and adderrall. We all start in the same shitty gig staring at Excel in hope of being Henry Kravis.

"Until and unless you discover that money is the root of all good, you ask for your own destruction. When money ceases to become the means by which men deal with one another, then men become the tools of other men. Blood, whips and guns or dollars."

In reply to Independent Gestion
2/20/11

Independent Gestion:
Haha. You must have a hell of an education savings plan to eek college tuition out of a dollar and 44 cents US.
Now that's only a dollar and 3 cents.
2/20/11

Come on, I can't be the only one with broke parents.... WSO must be more diverse than this thread implies.

In reply to econ
2/20/11

econ:
Come on, I can't be the only one with broke parents.... WSO must be more diverse than this thread implies.

well im including house + pension + 401k even that isn't alot to retire in todays age
2/20/11

i) Negative Equity - Electrician and Dental Nurse

ii) Corporate PE straight out of Undergrad

2/20/11

$70BB

Dad developed software for microcomputers

Mom is in philanthropy

2/20/11

parents have 40K liquid with civil servant jobs & pensions

Military going to B-school, wanna do IBD. My car cost less than most of your watches.

In reply to turtles
2/20/11

turtles:
futuretrader1999:
Dad-12 mm - real estate developer
me 2 mm-- gotta love llc's and lawsuit protection
prop trading

how do you have 2 mil when your only 19?

daddy is stashing some $$ in junior's name in case he gets hit legally.

In reply to Independent Gestion
2/20/11

Independent Gestion:
I don't know about everyone else but I have no interest in taking one penny from my parents other than for undergrad/MBA tuition, rent money and adderrall.

Gee how generous of you. Only undergrad and MBA tuition, plus living expenses. I mean, who has their parents pay for grad school anyway.

In reply to VanillaThunder12
2/20/11

VanillaThunder12:
My dad is 54 and makes $110,000 a year as a firefighter/paramedic and car mechanic. Not a lot, but he has his pension to look forward to.

He won't have his pension to look forward to if it were up to the kids on this blog.

In reply to econ
2/20/11

econ:
Come on, I can't be the only one with broke parents.... WSO must be more diverse than this thread implies.

This is exactly what I was thinking! Either people are lying, exaggerating, or it is really true that money begets money and opportunity.

My parents have 0 net worth. They've worked hard all of their lives, but they just didn't make enough. Now, if it were up to folks on this board, they'd take away their social security, too. Of course, easy to say when your parents are very well off.

In reply to kmzz
2/20/11

kmzz:
mech eng
2-3m

lol How is that even possible unless he or she moved into management?

In reply to mxc
2/20/11

mxc:
Independent Gestion:
Haha. You must have a hell of an education savings plan to eek college tuition out of a dollar and 44 cents US.
Now that's only a dollar and 3 cents.

Hyperinflation man. Musta changed between your post and mine.

"Until and unless you discover that money is the root of all good, you ask for your own destruction. When money ceases to become the means by which men deal with one another, then men become the tools of other men. Blood, whips and guns or dollars."

In reply to ke18sb
2/20/11

ke18sb:
Independent Gestion:
I don't know about everyone else but I have no interest in taking one penny from my parents other than for undergrad/MBA tuition, rent money and adderrall.

Gee how generous of you. Only undergrad and MBA tuition, plus living expenses. I mean, who has their parents pay for grad school anyway.

Living expenses while I'm still in school* And in addition, why not have them pay for MBA? There's no nobility in taking on debt to get an MBA? What I'm saying is even though my parents could afford to give me so much more, all I want is what it takes to launch my own career. I think that's a fairly standard objective.

"Until and unless you discover that money is the root of all good, you ask for your own destruction. When money ceases to become the means by which men deal with one another, then men become the tools of other men. Blood, whips and guns or dollars."

2/20/11

~$20mm
Dad was quite senior at MBB

In reply to prinmemo
2/20/11

prinmemo:
kmzz:
mech eng
2-3m

lol How is that even possible unless he or she moved into management?

haha your questioning someones parents net worth on an online forum hahahhaa

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee

WSO is not your personal search function.

2/20/11
In reply to prinmemo
2/20/11

prinmemo:
econ:
Come on, I can't be the only one with broke parents.... WSO must be more diverse than this thread implies.

This is exactly what I was thinking! Either people are lying, exaggerating, or it is really true that money begets money and opportunity.

My parents have 0 net worth. They've worked hard all of their lives, but they just didn't make enough. Now, if it were up to folks on this board, they'd take away their social security, too. Of course, easy to say when your parents are very well off.

Maybe I'm a rare breed because if it were up to me, there wouldn't be SS (at least, not in its current form). So, while it's true that my parents are broke, I don't think the (rich) parents of the people on this forum should be taxed to give my parents money. Basically, I support individual liberty, property rights, and believe people should, for the most part, be allowed to keep what they earn...

2/20/11

Econ, people pay into SS. The amount you receive when you retire is related to how much you pay into it while you worked. There are eligibility requirements. I realize it is a pay as you go system, but the benefit amount isn't the same for everyone, and it varies based on how much contributed while you were employed. Bill Gates is not paying for the retirement of poor people. You only get SS taxes up to 100K of your salary. After that you don't pay anymore into it. So this notion that somehow people that didn't earn very much money get their social security benefits essentially on the "backs" of the rich is ridiculous.

I realize we disagree on this, but it's important to keep facts straight.

2/20/11

I would think that the parents of most people that go into the industry fall into the upper end of the "mass affluent" category. (i.e. net worth of one or two million)

Consultant to a Fortune 50 Company

In reply to Independent Gestion
2/20/11

Independent Gestion:
monyet:
18 billion dollars ...........

Zimbabwean dollars that is.

Haha. You must have a hell of an education savings plan to eek college tuition out of a dollar and 44 cents US.

I invest in penny stocks. I'm almost as good as Tim Sykes now.

In reply to prinmemo
2/20/11

prinmemo:
Econ, people pay into SS. The amount you receive when you retire is related to how much you pay into it while you worked. There are eligibility requirements. I realize it is a pay as you go system, but the benefit amount isn't the same for everyone, and it varies based on how much contributed while you were employed. Bill Gates is not paying for the retirement of poor people. You only get SS taxes up to 100K of your salary. After that you don't pay anymore into it. So this notion that somehow people that didn't earn very much money get their social security benefits essentially on the "backs" of the rich is ridiculous.

I realize we disagree on this, but it's important to keep facts straight.

Are you sure that everyone gets out more than they pay in? If the money you get out, is directly proportional to how much you put in, then wouldn't everybody get less than they put in because, after all, someone has to pay for the administering of the program. And, if not, the only reason I could think of is by making "contributions" increasingly higher over time, which is incredibly unstable.

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