Who wants money and why?

Last Friday I attended a speaking event for interns featuring a charismatic senior executive speaker. She asked: "Who is here because they want money? Can I get an amen?" At which point every intern within an earshot said "Amen."

I know people do not get attracted to finance because of its great work life balance or the fact you get to spend time outside hiking trails, riding ponies, and enjoying nature but I am curious. Why do we want the money? What will we spend it on? Just for toys? Status? And if you say you aren't in it for the money, then why are you?

 

One of my biggest fears that I can control is becoming homeless/poor as fugg. I'd love financial stability. My need for money also grew while living in the Detroit area and seeing so many people losing their homes. I'd also like to be able to go out every once in a while -_-

If your dreams don't scare you, then they are not big enough. "There are two types of people in this world: People who say they pee in the shower, and dirty fucking liars."-Louis C.K.
 
Glen@SHU:
Last Friday I attended a speaking event for interns featuring a charismatic senior executive speaker. She asked: "Who is here because they want money? Can I get an amen?" At which point every intern within an earshot said "Amen."

I know people do not get attracted to finance because of its great work life balance or the fact you get to spend time outside hiking trails, riding ponies, and enjoying nature but I am curious. Why do we want the money? What will we spend it on? Just for toys? Status? And if you say you aren't in it for the money, then why are you?

I am not in it for the money. I come from a very old money family, and thus have plenty of financial security. However, working in finance challenges you physically and mentally. Furthermore, it is very competitive and cut-throat .... and some people are born to work in such an environment. Just hearing the phrase "good work-life balance" makes me want to throw up. You either go big or go home - that's the rule of capitalistic jungle

 
CanadianPositiveCarry:
Just hearing the phrase "good work-life balance" makes me want to throw up. You either go big or go home - that's the rule of capitalistic jungle

If your dreams don't scare you, then they are not big enough. "There are two types of people in this world: People who say they pee in the shower, and dirty fucking liars."-Louis C.K.
 
CanadianPositiveCarry:
Just hearing the phrase "good work-life balance" makes me want to throw up.

really? hearing the fact that people want a life outside of work makes you sick? that says alot about you as an individual... almost nothing good.

 

Been interning in banking for a few weeks now. The only mentally challenging part is not jumping out the window from the 40th floor. Cut throat is probably more appropriate a description for the trading floor. Physically, yes, it's a bitch to stay awake. It's nice to know there are some people that genuinely like the field though; I've also heard many admit they're only in it for the money,

 
Best Response

lets clarify something - do you consider working in finance just wall street? there are plenty of other finance or financial services related jobs that offer a decent wage with a substantially better work life balance than banking / less stress than trading.

Yes, there are plenty of people who are hardcore finance or competition junkies, these are all the same ones who burn out by 30, have 2-3 failed marriages in their lifetimes and in rare circumstances become Steve Schwarzman. Nothing wrong with that, these guys make the world go round just like the guy who likes working 8-6pm

Financial Stability means different things to different people - $45k to $70k / yr is the range for entry level analysts working in industry, other service focused businesses. They tend to have pretty decent working hours (definitely the occasional late nights) and half day / early fridays (as you get older, this actually becomes much more important than a few extra $$$).

I got in it for the money, i think ive done ok for myself and ive learned a lot. I like the product i focus on (started out in M&A and now focus on hybrid capital structures, long ass journey) but still feel like I don't have any longevity in banking. Definitely see myself being happier (= more successful) in industry.

What drives me now (in this particular order): enjoying what i do / feel like there's a purpose for it, work/life balance, good co-workers/being around people who are passionate and enthusiastic about work/workplace culture, money (will be a factor for a while esp in this economy)

What drove me then as a first year analyst: money, exit opps (didn't really pan out but kind of realized a few years in that im not a buyside guy)

------------ I'm making it up as I go along.
 

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