150k or 1,000,000s After College
Hi, so I interned this summer at a reputable firm where I thought the total comp was 300k+ after college, but I was told by recent hires that the base is 100k, with a 50k bonus. I was disappointed to hear that and have been eyeing e-commerce heavily in replacement, and seeing a bunch of young guys online making millions is inspiring. I went over the business with someone from the firm who asked what I would do on the weekends and the person was saying that he/she would short my company because of the company’s issues I talked about, but I see the company's challenges as growth opportunities and not things that I can't overcome. I've been thinking if I commit the time I have committed to finance and the hours I would be working, I could make more money doing e-commerce and actually have more freedom. I come from a needy background, so 150k after taxes and the rest for my family leave me with little money left, but people are telling me I am crazy for not caring about working for that offer like I used to. I’m 19, so I understand I may be naive, but my purpose for working is freedom, and e-commerce would get me there faster than working at a research shop, no? What do you think? Your guidance is appreciated.
You’re disappointed with 150k out of college and want to pursue e-commerce because you think you’ll make millions?
You’re naive to think that you’ll have a reasonable shot clearing $1m profit from e-commerce. Not saying it’s not possible, but for every online influencer clearing that, there’s thousands of people that think they can do it too.
Ask yourself, if they’re truly making millions in e-commerce, why are they spending their time sharing stuff on YouTube where they will make far less for the time invested? Why are they selling courses when e-commerce is the key to wealth?
Do what you want, but you’re being lied to regarding what the median outcome is in e-commerce, while considering giving up a job making triple the median pay right out of school that almost any graduate would want. This number will only go up over the years.
Pursue the e-commerce stuff as a hobby if you want to see where it goes, but in my opinion you’re foolish dropping it for e-commerce.
The risk adjusted comparison would be something like $150,000 vs $20,000... the chances of you making millions in ecommerce is not as high as TikTok makes it. You can always quit your job later down the line to pursue entrepreneurship. This is a no brainer decision - get a job.
He is trolling/larping…
No, very serious. I’m on here because I want to make sure I’m not hurting my future. I see many people who work for some years and then use the earned cash and network to start a business. It’s a proven way and something that may be the best decision, but I keep debating if I should focus on an online business now as more than a side project. I’ll focus on the company and have the finance offer as a plan B. I've also been factoring in the enjoyment of the people I met working there. Why are seniors complaining about rent payments and paying for their children when the total compensation is supposed to be significant, based off of how society views it. How come new hires convey to me that they don't enjoy their life and frown every day, me hearing the corporate access worker get cursed out during orientation day, and me learning that the senior MD on my team often does not consider the rest of the team's ideas -- it had me wondering if it would be worth it to pursue the job after graduation. Also, I'm an athletic guy, and working the job would likely lead me to have a less attractive body. The one thing I am worried about is how my focus switch could damage my relationships with people who have helped me get into firms and have vouched for me.
Much of the challenges with the business are in marketing: We have Google Ads suspended account, Microsoft suspended, can't create an ad account on Amazon (waiting for appeals to be approved for Google and Microsoft). Only marketing is through Facebook ads, social media presence, and business cards I leave in places my target customer is. The focus of the company right now is to get more sales. The company is an LLC with a business bank account, and I'm the only one managing the business. I've been hanging out with more people on campus to see if I can recruit some people I trust to join me and add value to where I have little experience.
Please DM me for more information and to see where we could help each other. I’m thinking, if this fails, I’ll get a job after college (still interning over the summer), then give it another shot after 2-3 years or go buy-side then leave in 2-3 years. This way, I can still be exposed to the upside of starting a business while having the job as a cushion after college if the company fails, and I could potentially make millions with a group of guys before we hit 30.
OP AFoldingChair couldn't have said it better. Also, half-assing both options thinking you have something to fall on is a sure way to fail at both. I am not discouraging you from pursuing the e-commerce opportunity, and I hope you are building a brand instead of falling for get-rich-quick schemes seen on social media.
Dolorum sint et ipsa dolor sunt quisquam voluptatibus. Reiciendis dolore excepturi incidunt ut laudantium quas cum. Voluptas saepe quo dolore voluptas vel temporibus totam. Dolorum ipsam vel dolor voluptatem dolor nobis rerum.
Natus et quidem ea exercitationem. Mollitia quos possimus et rerum sed eligendi. Optio illum nulla dolore ut. Magnam ut ipsam doloremque aut officiis.
Sint sit distinctio distinctio vel temporibus architecto non. Nesciunt et animi cupiditate minima quibusdam. Accusantium eaque exercitationem est quibusdam sit aut eum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...