Weekend Wars: Miners vs. Bankers
Ok, so you guys have read me ranting on the subject of physical labor and commodity related endeavors for a while now. For those who do not know, I prefer the outdoors and manual labor to the white collar world. For the better part of the last American century, this sort of career choice would have placed me in the proverbial panting and pussified 99% of today.
Things have changed greatly over the past few years, however, and it does seem that working hard in the field is once again becoming the average guy's best chance at striking it rich.
Few stories better encapsulate the phenomenon than that of James Dinnison, a 25 year old high school dropout banking $200,000 a year running drills in underground mines.
For fuck's sake, this guy looks like the reason mummy and pa-pa wouldn't dare to send your candy ass to public school. What the fuck is he doing white trashing his way towards millionaire territory?
The nerve of some people, thinking they shouldn't follow the herd.
Don't these fools know that there is no prestige in pounding rocks?
I mean...the dirt, the dust, the filth, the Billy Ray Cyrus haircuts.
Yet still, the mining industry is booming.
Actually, labor supply is dwindling so the demand for employees has skyrocketed.
Compensation is sick.
I have buddies from third world shitholes who are clearing buyout shop VP numbers, while signing their names with an "X".
It all makes me wonder, where we'll be a few decades from now.
Curious what you younger guys think?
Many of you play sports and are in good physical condition. Your bodies can handle the physical rigors and I know your pockets can handle the cash.
Can you still justify the astronomical costs of college, which now only guarantee you the piece of meat treatment during the interview process, if you are lucky enough to even get there?
On the other hand, you can toss that polite society bullshit aside and go make six-figures...today.
A lot more down the road.
Would sound pretty tempting to me if I was in that position.
Either way, my belief is growing by the day...
A decade from today, the brightest college minds will be thinking a lot less about Wall Street and a lot more about how to get themselves down into the mines of Australia, Chile or wherever the big money is.
Who's buyin'?
Who's sellin'?
What are the exit opps?
If that dude lives to see his 40th birthday, I'll be surprised. Keep in mind that, in the words of the article, these jobs involve "work 12-hour days in sometimes dangerous conditions, while living for weeks in dusty small towns". I think most people would rather work 12 hour days in the marble halls of finance and live to see their grandkids.
Yeah... the danger involved in working these mines is enough to turn me off entirely. I'd rather make 50k a year and live a full life than make 200k and live for however long I'm fortunate to live.
Oil Sands guys in Northern Alberta and BC have had this chance for about the last 7 years. The issue is the culture is not one of saving or creating wealth instead one of getting paid and enjoying it. Rig guy's make 100-200k easily doing work in the Oil Sands. Then spend it on booze, hookers, drugs, etc almost instantly. It is the culture of the job. Likewise places like Fort Mac, have insane inflation on all those things, booze is like 6x the price, you have to tip waitresses like 40% to get real service and so on.
It's harder said then done to create wealth that way.
I wonder if colleges would bother expanding into the skilled labor training business?
The for-profit colleges probably would.
Worked on an oil rig one summer. made bank. wish i was back there everytime i have to pull a late night at work.
They don't make enough. Living in man camps with no access to civilization for weeks-months on end? Equipment failures, explosions, not to mention the nasty dust they are inhaling along with the waste from the ore processing gives them a lifespan of the average NFL player. It's as brutal as it gets.
Hey did you know that gross income as a percentage of revenue is more than net income as a percentage of revenue?
The guy you mention isn't exactly moving towards millionaire status. An article I read has him pointing out that he has no savings. I am pretty sure he is spending it as fast as he is making it.
The motorcycle, car, and small dog, among other things.... what he is spending his money on aren't assets that will hold their value.
Unpleasant and dangerous manual labor is always pretty well compensated relative to other options. Thats because it is not fun. It wouldnt be well compensated if it was akin to a nice cardio workout as you describe it otherwise everyone would do it and it would pay equivalent to mcdonalds.
Midas, you forget your audience are risk averse who would rather make less and be safe rather than risk a limb to earn a buck. People at WSO are transfixed with prestige, high rise apts and fast cars. You seriously think we are gonna bail that and go work at a mine or at a farm?
LOL. Of course not, you are absolutely right. I am not expecting many acctg/econ/fin majors to raise anchor and head down to Perth.
I am merely pointing out supply/demand realities that have nothing to do with fun, health, life span and some of the other stuff people are bringing up.
It's funny how we get a hundred questions a week pertaining to alternative career tracks, the job insecurity of the financial industry, etc...but when you mention a legit six figure option available to every able bodied adult, you get the kind of rationale that keeps the 99% bitching for more of my tax dollar.
Oh well.
Agreed with VictoriaWoodhull--it's a very dangerous occupation. I understand what you're saying about the stigma towards working with your hands, but those who are cut out for it and know what the risks are will succeed at it.
my hands are getting too soft... im going back to window cleaning lol
I have family member adn friends working on the Marcellus, Bakken, etc. Most of them have just a high school education and are making $125K+. Downside is being gone 3 weeks a month and working non stop while you're there in adverse weather.
"Get rich or die tryin' "
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