Are "Luxury Beliefs" a requirement to be part of Upper Society?

"Well, we have to end apartheid for one.

And slow down the nuclear arms race, stop terrorism and world hunger.

We have to provide food and shelter for the homeless, and oppose racial discrimination and promote civil rights, while also promoting equal rights for women.

We have to encourage a return to traditional moral values. Most importantly, we have to promote general social concern and less materialism in young people."

~ Patrick Bateman

WSO Elite Modeling Package

  • 6 courses to mastery: Excel, Financial Statement, LBO, M&A, Valuation and DCF
  • Elite instructors from top BB investment banks and private equity megafunds
  • Includes Company DB + Video Library Access (1 year)

Comments (36)

Most Helpful
Jan 25, 2022 - 10:06am
Arroz con Pollo, what's your opinion? Comment below:

I'm not following the title and any implications it may have - I would say I agree with everything in that quote. Just because it's from a serial killer in a movie doesn't mean it's not true.

I don't think anything mentioned there is a luxury belief - I have met orphans living in shelters in 3rd world countries. One boy told me he wanted to grow up to be a fighter pilot and for everybody to be happy. I believe that humanity, whether rich or poor, share similar core beliefs. Everybody likes to be happy. Everybody wants others to be happy, and those who derive joy from the misfortune of others are not good people.

Jan 25, 2022 - 11:59am
T30Alumnus, what's your opinion? Comment below:

Not a requirement, certainly a plus. There are very few upper crust circles where it is a positive to lack luxury beliefs. Contrary to what a lot of 22 year olds think, there is no good ole boy network of Reaganite CEOs and tycoons who dominate country clubs and down steaks in between negotiating lower tax rates and implementing "Giuliani Time."

Jan 25, 2022 - 6:18pm
EBITDaddies, what's your opinion? Comment below:

Not in the stereotypical WASPy finance/oil/military-industrial robber barons plotting market crashes and political schemes on golf courses, no. But there are certain elite "castes", unknown to 99.999% of the world that influences geopolitical events behind the scenes, with raw power, not capital.

- The Vatican and dozens of noble families of Europe (including mine) are constantly meddling in Europe, Africa and the Middle East, seeking more power, capital, natural resources or influence. They have been around since before the Western Roman Empire fell. 

- Various imperial/royal lineages from Beijing, Tokyo, Seoul, Taipei, etc in East Asia pretty much have a stranglehold on electronics, semiconductors and raw resources found in East Asia. They are currently unequalled in influence and power. They have been around since the first Chinese dynasties.

- Protestants and Russian oligarchs on the Eastern Seaboard controls North America and Latin America. They have been around since the 17th century. They enjoyed a surge in influence following the second great war, but are in a stage of relative decline.

- Minor castes in India, Oceania, Russia and the Middle East exists, but are irrelevant for the most part. 

Jan 26, 2022 - 8:58pm
conrx, what's your opinion? Comment below:

whilst its easy to get a list of european nobility that might still be active id love to hear about these so called imperial / royal family lineages in China etc. would they not have been wiped out by revolution? similar i thought the chaebol / zaibutsu had backgrounds in merchant / important families sure but would have been by now far removed in owenrship from them.

similar i doubt any wealthy russian actually comes from 17th century (or even 18th or 19th century) prominense. prettty much all oligarchs i read about / researched had very humble (albeit hustler and gangster) roots. 

Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
  • Anonymous Monkey's picture
  • Anonymous Monkey
  • Rank: Chimp
Jan 26, 2022 - 8:57am
Anonymous Monkey, what's your opinion? Comment below:

There is no such thing as Reaganite CEOs and executives?  How come we have had so many tax cuts for the rich then? (83, 86, 01, 03, 17) 

Jan 26, 2022 - 12:40pm
indicakohlberg, what's your opinion? Comment below:

Incorrect. As you escalate the social ladder you realize that there IS a group of extremely wealthy people and they all know each other. Finance knows Hollywood knows blue blood knows the heads of industry. The daughter of a prominent IB firm CEO is best friends with a Mediterranean princess (if you know what public friend group I'm referring to), same with the groups of final club member HYPSM lads playing golf in Southhampton. Here it is about luxury, but not Gucci/Rolex, rather Piana/Zegna bespoke luxury. 

+1 to what EBITDaddies mentioned

Jan 25, 2022 - 4:05pm
trustmeimanengineer, what's your opinion? Comment below:

No they arent, but pretending they are is a requirement part of the time. Throw up a black square every now and then so that the mob doesnt realize you're fucking loaded and globtrotting while they barely pay their rent. It's a tale as old as time

Jan 25, 2022 - 5:09pm
trustmeimanengineer, what's your opinion? Comment below:

They are so out of touch with reality that's not super shocking tbh. They may actually not know any poor people or what the real struggles are 

Jan 26, 2022 - 12:15pm
Memberberries, what's your opinion? Comment below:

In the Bible in the Book of James, it is said that faith without works is dead. In the same way, believing something that has no impact on your life is a dead belief system. 


Jan 25, 2022 - 4:58pm
T30Alumnus, what's your opinion? Comment below:

Horrible way to ingratiate yourself with upper society people.  While some octogenarians in Sedona who donated (got swindled out of) seven figures to the McCain campaign may agree with these sentiments (I do too), most do not.

Jan 26, 2022 - 6:43am
neink, what's your opinion? Comment below:

The funny fact about this is that ''traditional values'' are no longer preached (but heavily utilized) by the elite of society. Among the rich, divorces are rarer and large families are more common. Meanwhile to the youth they preach pansexual transgenderism as a replacement for the nuclear family, which is ''symptom of white supremacy''.

Look at fucking California:

 Want true equity? I propose, modestly, forcing California parents to swap children

Never discuss with idiots, first they drag you at their level, then they beat you with experience.

  • 4
  • 1
  • Anonymous Monkey's picture
  • Anonymous Monkey
  • Rank: Chimp
Jan 26, 2022 - 9:18am
Anonymous Monkey, what's your opinion? Comment below:

Can someone tell me what's wrong with these beliefs?  Which ones don't you guys agree with?  Civil Rights?  Ending apartheid?  Stopping hunger?

Jan 26, 2022 - 2:36pm
gsssa 2050, what's your opinion? Comment below:

I also want analyst starting salaries to be 400k, my dead dog to come back to life, and my wife to leave her boyfriend

We can want whatever we want to be true, but that doesn't mean we want to bend over backwards or do something stupid that makes the problem worse.

Sure, I'd love everyone to have a house, but that doesn't mean I also think I should have to pay for some lazy dole bludger's house.

Most of the stated beliefs are about ends not means.


Jan 27, 2022 - 1:23pm
Memberberries, what's your opinion? Comment below:
gsssa 2050

Most of the stated beliefs are about ends not means.

This is a solid analysis here--made me think, actually. Yes, this is correct. I was struggling to put my finger on what was really wrong with these "beliefs" but this says it well. Most people agree--broadly speaking--on the ends of policy, which is peace, prosperity, progress (hat tip: Eisenhower) and equal justice. But that's not a political platform--it's just a slogan.

"End apartheid" is good, but how do you achieve this? There are vastly different approaches. "End apartheid; nationalize land and businesses and redistribute to black people" is very, very different from "End apartheid; appoint judges who will enforce equal justice under the law." Both of these viewpoints fall under the slogan of "end apartheid." So "end apartheid" is a meaningless slogan. It might be more meaningful if the debate were between keeping apartheid and ending apartheid.  


  • 4
Jan 26, 2022 - 11:59am
Memberberries, what's your opinion? Comment below:

The insidious aspect of these beliefs is not that they're wrong; it's that when you assert that these are your political beliefs, there is an implication that you are working against a counter ideology that is opposed to these beliefs. 

The famous example is the yard sign: In this house we believe that black lives matter, women's right are human rights, no human is illegal, science is real, love is love, kindness is everything.

When you assert these beliefs as your ideology, there is a clear implication that your neighbor likely is opposed to these things, when the reality is actually likely not true. Your neighbor believes in all of those things but has a different worldview that interprets them differently. In fact, that yard sign is basically right out of the Bible--how the Pharisees asserted their own righteousness but Jesus asserted fidelity to those righteous beliefs through a completely different interpretation.  


  • 7
Jan 26, 2022 - 4:05pm
Memberberries, what's your opinion? Comment below:

Yeah, I just really think about Black Lives Matter in the sign. Because of the greater context of the sign, we know the assertion is that defunding the police, abolishing the nuclear family, and replacing capitalism with socialism is good for "Black" lives when the exact, polar opposite is true--those things are all terrible for black lives. While BLM is ultra-ironic, I actually think the most ironic of them all is "kindness is everything" as the sign itself is the meanest sign since its implication is that "you are a bad person if you disagree with these things" or "you hold counter beliefs in bad faith." The sign itself projects an ungracious, unkind attitude. 

I also enjoy the "hate has no home here" sign when you know that the person with that sign would run off a Trump supporter with a pitch fork. As much as things change, people are just the same as they were in the time of the Pharisees--people want to be popular for their morality but their pride prevents them from seeing that they're actually the bad guys.


  • 4
Jan 26, 2022 - 2:36pm
Mr Incredible, what's your opinion? Comment below:

If you mean like Social Register tier upper society, then unless you are the most polished a person can be and incredibly successful too, nothing short of marriage will get you there. 

Pedigree is the most important thing, though you need pedigree + polish. For example, Ivanka Trump got along very well with New York high society, but Donald Trump never did. He's a part of the social register now, but that's only because they invite all Presidents and VPs. 

Jan 27, 2022 - 3:42am
TheBuellerBanker, what's your opinion? Comment below:

Sed et consequatur non et vero qui. Corrupti fugiat sunt doloremque ut eos. Dolores facilis occaecati nobis aliquid. Ducimus rem praesentium ipsam eum hic voluptas tempore. Architecto quas molestiae omnis consequatur dolorum optio eos. Vel ut cum officiis totam et sed velit. Consectetur culpa quam velit reiciendis recusandae quae quod.

Nulla quis id aperiam voluptas quis. Id debitis quas eaque. Et laborum mollitia provident aut vel fugit. Amet est qui qui qui reprehenderit voluptate dolore. Veritatis quia architecto eum quidem iste sit.

Voluptate dolorem minus nesciunt non. Commodi incidunt soluta voluptas laboriosam. Occaecati in totam consectetur dolor velit. Qui incidunt itaque animi tempora nulla quia. Et dolore suscipit est non voluptas perspiciatis eos.

Autem cupiditate esse voluptatem. Vel est inventore ea at sed illum. Voluptatem in magnam quas consequatur odio nostrum. Earum nostrum repudiandae eaque est quas.

Jan 27, 2022 - 6:23pm
Yankee Doodle, what's your opinion? Comment below:

Vel nemo eum id dolore. Ut nemo et id hic omnis quia ad in. Nesciunt et totam est sint facilis explicabo. Et impedit quo tenetur officiis corporis voluptatem maiores. Et eum sunt numquam eaque molestias odio eum.

Incidunt vero dolorum iure. Et doloremque quae optio quam. Dolores quo molestiae voluptas sapiente. Ut odit dolorum non sed illum quasi.

Voluptatibus totam est quos accusamus est expedita esse dolor. Autem dolorem rerum sint quidem nihil in neque.

"Work ethic, work ethic" - Vince Vaughn

Start Discussion

Career Advancement Opportunities

July 2022 Investment Banking

  • Jefferies & Company (▲03) 99.6%
  • Lincoln International (= =) 99.2%
  • RBC Capital Markets (▲07) 98.8%
  • Bank of America Merrill Lynch (▲01) 98.4%
  • Houlihan Lokey (▲06) 98.0%

Overall Employee Satisfaction

July 2022 Investment Banking

  • Lincoln International (▲06) 99.6%
  • Jefferies & Company (▲11) 99.2%
  • Greenhill (▲07) 98.8%
  • Rothschild (▲01) 98.4%
  • Evercore (▽01) 98.0%

Professional Growth Opportunities

July 2022 Investment Banking

  • Jefferies & Company (▲04) 99.6%
  • Lincoln International (▲04) 99.2%
  • RBC Capital Markets (▲09) 98.8%
  • Houlihan Lokey (▲07) 98.4%
  • Bank of America Merrill Lynch (▲04) 98.0%

Total Avg Compensation

July 2022 Investment Banking

  • Director/MD (9) $661
  • Vice President (37) $394
  • Associates (192) $256
  • 2nd Year Analyst (117) $162
  • 3rd+ Year Analyst (17) $156
  • 1st Year Analyst (369) $150
  • Intern/Summer Associate (79) $147
  • Intern/Summer Analyst (292) $92