Marketing poker skills
Not sure where to post this, but was wondering if anyone here has significant background in poker and was able to communicate it as a useful skill in IB.
I'm in a bit of a weird situation, I'm seriously good at poker, and it's an extremely complicated game, a lot more than people think. I've spent hundreds of hours studying, there is toy games, equilibrium, database analysis, game theory etc. etc. Atm I've made over $100,000 playing the game, not from some sort of freak luck but after playing almost a million hands and studying hard.
How can I possibly communicate this as something that took extreme amounts of work and resources and not degenerate gambling?
This topic came up many times on WSO, the search function will bring good results.
1) I would absolutely mention it, shows you are competitive, a good learner, good at reading people and strategic/numerical
2) It can't appear like you are gambling all the time, every week, every month. Ideally, you would have finished your poker career before being in/advancing in banking. Hobbies, foreign influences or interests that might bring you into debt can be seen as a weakness for taking bribes or being influenced by others (blackmail, ..).
3) Did you work professional jobs while you were playing? Or is this a long gap on your resume?
I mean I play a lot. It's basically a full time job. Last time I had a job was junior summer of high school where I was a research assistant in the social sciences. One thing going for me is I'm a rising sophomore at an ivy league (v much target) but I haven't really done anything of note besides poker since high school.
The first question to ask would be - are you wiling to give up this career for another one? Do internships? Sit at a desk few years to come? Powerpoint, emails and nothing else? This lifestyle change is big, don't underestimate it.
Being good at anything competitive takes a lot of time- it can be a job, a hobby, a career in poker or anything else. Are you ready to leave poker behind and only play casually on the side?
Can you expand your poker income, if you stick with it? Maybe that would be the better choice? You just said, it's basically a job.
If you have a friend who owes money to an underground casino, this would sound like that poker movie, Rounders?
A little like rounders haha.
There's a 30-50% chance I will drop out of college. I can't lie. Basically my goal with this is invest 1-2 weeks into applying for internships, and if I get a good one stick around in school another year and try out the internship. I'll make decent money and get a taste of what it's like. If I don't like it I'll drop out.
Poker income is pretty scalable. I'd estimate I can make 60-70k/yr at my current skill + work ethic level, but in a couple year its possible to make 100-300k, and the guys at the very top can make 1m/yr if not more.
Obviously on my applications I am not going to mention dropping out or anything.
Ok, I get it now.
You found the escape hatch from the corporate rat race before you even started. Good for you. Obviously you are smart and know what you are doing in the world of poker. I spent years in Vegas and could never figure out how to make money there. Guess that's why I am in the corporate world...
While those salaries mentioned may sound good for a young, intelligent guy like you... - income within IB/BB + exits should be higher in the long run. That kind of salary/carry should be more secure as well once the market recovers (Yes, I know that one "has to make it first" to command these salaries, there is always a risk that it won't stick). But I don't know how "safe" a career as a professional player would be like. So maybe that career track is also a safe choice.
If you truly believe you can get to the top in the world of poker - do it.
and message me before you go big, I will stake you.
In atque sunt et. Animi quia voluptatum repellendus architecto.
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...