children of investment bankers
do senior investment bankers (MD level) who are making a good amount of money tend to send their kids to private school or public as to not spend money
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I see both but probably more go to private. Lately De Blasio completely fucked the public school system by making everything lottery for the high schools if you don't get into the top schools like Stuyvesant (I think you need to be in like top 0.5% for that), so more families are looking toward private schools.
Private school in Europe for the one BB MD I know. Pretty sure it's costing him ~$100K annually for his two children there (probably in college by now, not sure). Always thought it was weird because he arguably lives in the best public school district in his state.
Sometimes public if they move to an excellent school district (i.e. Fairfield County) but private is the overwhelming majority, especially in NYC
On of our MDs is based in Switzerland and his kids are in public school, but a really good one. Our MD in London has her kids in a private school.
Other than that, it is a good mix.
how much do you think London MDs make? base vs bonus. Im guessing 700k base and 100% bonus max with a good year?
I'm guessing 350k to 500kGBP base and up to 100% in a good year. I don't think many MD's are making more than that in London, I'm still an analyst though so take my words with a grain of salt
Very common in the UK to have your kids in a public institution until year 11 (yr 10 in the US) and then send them to do their A-levels in a private school
This makes sense
What is the point of sending a child to private elementary school if one has access to decent public schools?
Children are still learning multiplication and division at that stage - why pay $50k a year for that
the public school system here in the uk is very poor
are A levels the final 2 years of highschool in the UK?
well yes but you specialise in a specific set of subjects i.e. Further Maths, Economics, Physics
Tbh given how good the public grammar schools are now, if ur kid can get in one it's probs a better bet than private school for a levels, given how universities have started to discriminate against private schools now.
Son of non NYC MD. Went to public k-12 and private university.
Former MD, mentor of mine, sent/sends both his kids to private schools—costs him over $150k per annum
The honest answer is that it depends on where they live. In the US, look at the suburban communities where a lot of bankers live and look at the school systems in the area. I went to public high school with kids whose parents were MDs and above at every major bank, high-level employees who work at top hedge funds, and partner-track lawyers at your top law firms. Some of the names would surprise you. The reality is that a great public school system can be just as good, education-wise, as a top private school. In NJ, you have Glen Ridge, West-Windsor Plainsboro, Summit, Millburn, Livingston, Northern Valley Regional - Demarest, Princeton, Ridge, Mountain Lakes, and Montgomery ranked by USNWR in the Top 25. These are traditional, non-vocational, non-specialized schools and school districts. Just to paint a broader picture, Princeton and Ridge are the demarcation lines - Everything from Glen Ridge to thru Princeton falls between a national ranking of 200 and 500, while Ridge, Mountain Lakes, and Montgomery have a national ranking between 500 and 600. So the question is then, does it make sense to spend $150K to send a kid to a private school or send your kid to the local public school if you live in a town with a top-rated school system.
Yeah public school makes total sense in this case. From my own experience of not going to private school i feel the only real benefit of private school is you're surrounded by well connected kids who know what to do in life because their parents have told them. You would easily get that in the public school example you gave.
Jesus, imagine paying $150k p.a. for private school. I'd rather go to a decent public school and receive $2m in a trust fund when I turn 18.
That $150k implies multiple children. In NYC the elite schools top out at $60k, and under $50k anywhere outside the city. Still a lot but private education is a priority for lots of people
private schools over there in the US are so expensive my school is only 33k GBP
per annum
No fucking cap
Know an MD with literally 18 kids, all from the same mother too. Each one of his kids went/goes to private school from kindergarten to college.
18*18*$25,000 = $8,100,000.
What the fuck
Mormon?
How do you even RAISE that many kids? How do you build any personal relationship with a single one of them at all if you have 18. How do you impart any knowledge or have any special moments whatsoever.
Wife is obviously a homemaker. Funny enough, he's actually very "fatherly". Spends time with his kids in smaller groups. Takes them camping, fishing, athletic competitions, etc. He and a few other MDs get together once a quarter to shoot the shit at one of their vacation homes. No wives allowed (wives get together and go shopping lol). The men smoke cigars/drink whiskey/play poker while the kids socialize or whatever.
Weird thing is that the guy is hardly 55 and a grandpa already. He's got kids that are older than me and kids that are young enough to be my children.
Mother must be a superhuman to give that many births and raise all those little shits!
Did he have some sort of special ability to birth 2-3 kids at the same time or just kept putting a baby in his wife for 15 years straight(imagine being the wife).
Cap
How is this possible?
dude went beast mode, absolutely living the dream
Man reading this as a Swede is like reading Chinese.
So much money into something that we get almost completely for free (not counting tax) is so weird.
Sweden has a much smaller population that the United States, and the United States also has public school, which the majority (95%+) of people go to
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