Know someone who clears a cool $5 not including carry in Houston TX in his early-mid 30s. This individual is lucky and opportunistic doing 40 hour weeks in Private Equity most of the time.
There are many routes to the first million and beyond. WSO crowd is very finance centric in its approach in attain the first million and beyond.
There are a lot of high tech degrees that lend itself to many career avenues including:
- Engineering
- Computer science
- Sciences
- Mathematics
- Etc
If you do the numbers on these you will find that you won't really become a millionaire before 30 for the typical entry level climb to mid and senior level position at least not in the traditional sense.
What are some other ways to get this money? Some of you might say buzz words such as:
- Entrepreneurship
- Startup
- Be your own Boss
- Start a Ponzi Scheme (Sykes, RE edu courses, Gary V, Tai Lopez, etc)
- Etc
One solution I found is Sales where you can leverage commissions and residual/dividend to generate active and passive income. Without sounding too "attaining financial freedom", I also happen to know a Sales Director clearing half a buck a year ($500). Compound interest and smart investments as a career Salesman can also generate substantial returns.
Sales can be a ticket for most who possess the social skills necessary to not only leverage a commission pay structure but also quickly build a network and a brand.
Which careers do you think will get you to million(s) before 30 that isn't Finance?
That's about all I can think of.
-Learning to make money with OPM (Other People's Money). -Living cheaply and investing everything you can in businesses, stocks and real estate.
This sounds boring! Got to live a little. You can make 7 figures in sales.
real estate mah nigga
Why aren't any finance jobs in "Highest Paying" lists? (Originally Posted: 10/18/2007)
Search google for "highest paying jobs".
The lists you find will be devoid of all the professions we talk about here. For instance, careerbuilder.com lists 'surgeon' as the highest paying job at $147,000 a year. Are IB, private equity, and hedge funds just too rare and complex for these lists? People can easily trump 147k with a few years experience in any BB, why aren't finance positions dominating these lists?
There are maybe, what, 1000 BB analyst positions every year? In terms of absolute numbers, IB HF and PE are very, very small numbers.
Many of those lists only look at cash salary. Most of the high paying are largely bonus-based consisting of cash and/or options that are not taken into account.
HAHA, what a simpleton.
To start things off, I'd like you to find me one surgeon, in a major city/metro area, who only makes $147k a year. These surveys suck horribly, and if you haven't figured that out, then open your eyes.
Anyway, the reason you don't see wall st jobs on there is because there aren't very many of them. You will often see "financial advisor" somewhere on the list, because there are truckloads of them, but the professions "fixed income trader" and "M&A advisor" are just too obscure, particularly to the average joe who has no idea what those terms means. Besides, even if they tried to encompass S&T, equity research, IBD, capital markets, etc under the label "investment banker," they'd probably fuck it up by including a lot of shitty non-bulge bracket firms.
there are surveys out there, however, that look at specifically finance jobs, and there you might find a better idea of what you're looking for
Yes that 147K for "surgeon" is some kind of AVERAGE, and I'm sure they do not bother publishing whatever methodology they used to come up with that.
Median or mean? Does it include residents just out of school, working for peanuts? Just salaried doctors in-house at hospitals, or self-employed too? Early career, mid-career, late career all lumped together? Base salary, bonus or both? Include part-time, or semi-retired? How did they collect the data? Who knows what they included in the sample?
Bottom line, they only publish these useless lists to get people's attention (everyone loves a top 10 list), and to create "content" online so they can sell ads.
Sounds like this article on the Wall Street Journal that said ibankers make $16k a week on average. doesn't really mean much, since we all know an intern probably makes $1k a week and an MD might make $150k a week.
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