What path to take to become a true "baller?"
What I'm really curious about is what happens between the time a new trader/banker enters the firm until people know his name? Or until he becomes the next Boaz Weinstein etc? Is there a clear path? Luck?
I think plenty of us are smart, and want money, so can we collectively talk about how to get to the optimum level of "baller" in the fastest amount of time? I use the word baller to illustrate the idea of a young finance type, sub 40, who makes 5-10M a year, not to mean a douche. I mean the type of 35 year old who "closes deals."
I'm going to start the conversation by saying more often than not you have to be willing to move around/continuously network, and vie for more responsibility at your firm fairly quickly.
What do you guys think?
Success Isn't One Size Fits All
Successful people in any field tend to get there by creating their own path rather than following the herd. While there are basic steps to follow, get into a good school, land great internships, high grades, etc those who truly “make it” find a way to stand out from the crowd.
User @hopeful532 shares,
Most of the real ballers in life don't follow a "path". they take risks - and some of the succeed wildly. some of them fail.
And this seems to be the consensus among our users. You have to be willing to fail if you want to win. This means taking smart chances and finding what you’re truly good at instead of mimicking others.
Watch this short video from
about cultivating a successful career in finance.https://www.youtube.com/watch?v=G-TR1OJE4OQ&t=124s
User @IlliniProgrammer Hedge Fund
The clear path is competence, competence, competence. And try to be nice to people.
Wall Street Offer + competence + maybe being nice (at least if you're a quant developer) = reputation.
See this photo from Wall Street Oasis that breaks down what you need to succeed in finance.
The Path To Success Must Be Your Own
User @Jorge shares,
The only sure path to personal success is YOUR OWN.
Comparing yours with others will just mess up your mojo, for all you know, the paths Kravis/Soros/whoever took might be the exact opposite of what you need. Just go out there and do what you have to do.
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bottles and models. Hire an astrologer too.
most of the real ballers in life don't follow a "path". they take risks - and some of the succeed wildly. some of them fail.
You had what it took to get the offer, it's up to you to decide if you have what it takes to stay. I don't care how you do it, just do it. As you go through life there will be these moments (take profits or let the trade ride, miss your kids soccer game, ect), and only at those moments will you know if you have what it takes.
The only way to becoming a true baller is to go to Harvard, come up with a fancy piece of software (DOS/Facebook), and drop out to work on it.
You will never be a 35 yr old baller working on Wall St.
skills camps every summer from 5-13 AAU from 13-18 get a schollie at wherever John Calipari is coaching leave school after 1 year get drafted #1 overall
Sling crack rock or get a wicked jump shot.
i was about to say the same thing..
honor in the dollar kid
I read this article a while back, that said that Microsoft employs more millionaire secretary's that any other company in the world. They took stock options over Christmas bonuses. It was a good move. I remember there was this picture, of one of the groundskeepers next to his Ferrari. Blew my mind. you see shit like that, and it just plants seeds, makes you think its possible, even easy. And then you turn on the TV, and there's just more of it. The $87 Million lottery winner, that kid actor that just made 20 million o his last movie, that internet stock that shot through the roof, you could have made millions if you had just gotten in early, and that's exactly what I wanted to do: get in. I didn't want to be an innovator any more, i just wanted to make the quick and easy buck, i just wanted in. The Notorious BIG said it best: "Either you're slingin' crack-rock, or you've got a wicked jump-shot." Nobody wants to work for it anymore. There's no honor in taking that after school job at Mickey Dee's, honor's in the dollar, kid. So I went the white boy way of slinging crack-rock: I became a stock broker.
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The clear path is competence, competence, competence. And try to be nice to people.
Wall Street Offer + competence + maybe being nice (at least if you're a quant developer) = reputation.
Then again, given that my definition of "baller" is being retired on an 40-acre farm on Lake Michigan and being able to afford a classic Mustang and a 10-ft sailboat, you may want to take my advice with a grain of salt. I expect this to cost me less than $2 million, inflation adjusted.
It is unlikely that the average person viewing this forum will get truly rich on Wall Street. But we're already pretty blessed relative to the rest of the world if we can eat three square meals a day and have a warm place to sleep.
heard lake superior is quite BAWLLUH
Oh, and if my posts get monotonous, you don't have to read them. :D
Haha, wtf? Never heard anyone in WI talk like that.
True Story;
> We laughed at him for long with our job in IB or PE...now guess who is laughing now...
> Agree with the above post, I feel like WS is now so institutionalyzed that "ballers" are very rare...and also agree that you won t be a baller at 35 years old on WS...The only path to really "Cash" would IMO be HF...
Go out of your way to assist others even when there is no immediate and personal benefit....
JUST GOT WORD FROM MICHAEL, THE RIP ON FARROW TECH IS NOW THREE DOLLARS!
I have to tell you, I'm kind of disheartened over the responses in this post. Doesn't anyone here think they have what it takes to be making 5-10 Million at 35? What about their own hedge fund by 40?
Do posters above think I mean becoming a baller by only working in a bank? I mean PE, your own hedge fund, possibly a bank, etc. (The total of WS) Does that change anybodies opinion?
My dad has a few friends who all started on the street at the same time, they basically all now each have their own fund at least over 100M. Is everyone saying here this is a rarity?
...I'm gonna go for it.
The only sure path to personal success is YOUR OWN.
Comparing yours with others will just mess up your mojo, for all you know the paths Kravis/Soros/whoever took might be the exact opposite of what you need.
Just go out there and do what you have to do.
So go for it, make your own path etc. You don't need people to stroke it for you.
I'll be a billionaire by the time I'm 40 and you will regret not introducing yourself to me on the thread I posted the other day :)
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