Layman's prestige
how important is layman's prestige 2 u? e.g. 2 a regular joe, Morgan Stanley>KKR. would that make u more apt 2 take a position at MS over KKR?
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to the average person, being a firefighter is more prestigious than being an investment banker
funny you mention this. i've seen on numerous occasions WSO members boasting/trolling about how working at GS TMT or a private equity megafund will make women's panties melt off at bars. in reality, hardly anyone outside of finance knows or cares about these things, and women at bars are much more likely to be charmed by firefighters or aspiring film-makers.
Haven't encountered such girls before...Guessing most chicks around me are not that into finance. But they do have a rough idea of "banker" (tho they even treat the capital market guys as bankers...)
How Much Do You Value Prestige? (Originally Posted: 07/26/2013)
Say you have two options:
1.) Work at Goldman in a prestigious department. 2.) Work in a boutique for 20K more a year.
Also all jobs/earnings after this job will be the same.
Which who you choose? What about 10k, 5K, etc.?
Edit
Changing the question a little:
Same group type / market sector / deals.
All jobs/earnings after this job will NOT be the same. (Up to personal luck / skill / network)
speaking of firefighters and trolls... didn't pay attention to the OP... LOL i should have known.
Money is the motivation.
I think this is contradictory. The whole premise of "prestige" is so that your next move will have a higher pay off. That is why some people sacrifice initial pay level for the prestige and future opportunities that come with it.
this.
assuming everything else equal I would head to the boutique - #yolo
Bankerella said it best:
http://www.wallstreetoasis.com/blog/my-biggest-career-mistake-to-date-p…
your lyfe in a nutshell lol
I have given up trying to figure out why so much weight is put on prestige, yet have nonetheless come to the conclusion that it happens. My opinion... get that prestige on the ol' resume and up your PV.
Edit: Just noticed you added the stipulation that future earnings would be the same. Obviously you take the higher pay if that's the case. However, that being the case is somewhat questionable.
Wasn't there someone on WSO saying "Prestige never paid for a F***ing Ferrari"?
sounds like TNA, or Eddie
This. Prestige only matters because other people value it. If this form of external validation didn't exist, then I'd just go for the pay and experience.
Prestige all the way. I would take out loans to get a BA at Williams College ($150k), then a JD from UVA ($150k), then, at some point along the way, an MBA from Sloan ($100k?). To answer your question, I'd be willing to work at Goldman for $40k/yr just to get the name on my resume, then use that as a springboard to a prestigious research position at Princeton (where I would offer to work for a lowly $45k/yr in exchange for additional prestige), then use that as a springboard to a prestigious lobby group in Washington, where I would happily accept a measly $50k/yr salary for the rest of my life - because it's not about money in Washington, it's about prestige. Also, be sure to buy prestigious clothes, live in prestigious neighborhoods, and vacation in prestigious spots, putting it all on your credit card.
lol at anyone who gives a shit about prestige.
i'm all about that preftige though FUARK
A big decider for me is whether or not I can proudly tell people I work for X company. Therefore I would go for the prestige.
I wish the word "prestige" would die a horrid, painful, and above all lonely death.
already did, replaced with preftige
I think my username gives away the fact I couldn't decide...
Changing the question a little:
Same group type / market sector / deals.
All jobs/earnings after this job will NOT be the same. (Up to personal luck / skill / network)
Whichever group/work/people you enjoy working with most. It's more "prestitious" (IMO) to make your own way and succeed with the tools and opportunities you are given. E.g.--> work at GS in FIG/TMT and perform a little below or even at par lower tier/ MM analyst who busts there ass and essentially becomes immortalized by the quality of their work and drive.
But to each their own, odds are the guys at GS are still damn respectable analysts, even the subpar ones.
I once asked a European friend if he would rather live a fashionable life in a terrific flat in NYC working on Wall Street, or if he would live an Average Joe life having written an extremely famous and best selling book (think Alchemist by Coelho).
In OP's theoretical case I would go with GS and in mine I would, without hesitating, go with the writer option.
Then you will have a prestigious afterlife.
lol why? I'm just trying to live good.
Fuck a company, dude. You ARE the company. This is your life. disregard females acquire curren$y
Preftige is everything brothers.
success is the only prestige I might remotely care about
hmm goldman's still considered prestigious?
Prestige means someone can know nothing about you other than your employer and respect the hell out of you. People want to be perceived as excellent. If you work for a prestigious firm, people will perceive you to be excellent before you even extend your handshake to introduce yourself. Just by knowing your employer they will to some degree have an idea of what kind of car you drive, what you scored on the SAT, what sort of school you likely attended, what quality of alcohol you buy, and what quality of chicks you bone.
People will wish they were you before they've even met you. Whether that's absurd or not is the philosophical question.
I don't think prestige is bad. Money and the accumulation of wealth is the reason we work. Working for a prestigious company will definitely open doors down the road which will likely result in +NPV.
In the 2014 Vault guide, HL ranks second highest for pay but is ranked very low for prestige.
Ha, I laugh at prestige. I mean look at me, I am likely way cooler than anyone here and I never chased prestige. I just chased awesomeness.
Define awesomeness. I'm being serious.
http://www.leveragedsellout.com/
If you make decisions on 10k pa pretax you are a fucking retard
If you need it defined you will never find it. All jokes aside, it can mean a lot of things. You kind of set your own standards. For me it's the journey that never ends. I do what I want. I don't have to work, I don't have to care what others think I do what I want. If people turn their nose up at me because they work at Goldman and I didn't. I laugh at them and tell them have fun when you get a few hours to go out and drink. I'll stick with my money and do what ever the fuck I want. I usually leave out the part that I make more in a month than most 3rd year associates do in a year, unless they are being a total ass about it.
I just want you to define it.
hahaha good one
having goldman gains u face
I don't care about prestige as long as I'm racking in the dough
Does prestige have intrinsic value to you? (Originally Posted: 06/20/2011)
Interested in your thoughts. Outside of the doors and earning potential that "prestigious" schools or firms open for you do you care about prestige by itself? Or is prestige only valuable to the extent that it'll help you get to where you want easier?
This forum places a high premium on prestige (justified or not) so it'll be cool to get the reasoning behind it
I used to place a premium on prestige, until I found out that it the only people who give a fuck about it are other people like myself (which I couldn't care less to impress). In my opinion, prestige is overrated and if you need it to make you happy, you should reassess your values. For me, the only value that lies in prestige is the doors that it can open in the future.
yes, but i will sound like an ultra tool for saying why, so i'll refrain. that said, i'm definitely growing out of it.
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