Would you work in IB if it had the same prestige but paid minimum wage?
DEL
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No dude lmao
DEL
Would you be a garbage man for $1M per year?
DEL
Yeah guy a know recycles junkyard scrap in Pennsylvania - makes millions
Those garbage guys are clearing good money after a few years + pension too. It's a pretty good gig, good luck getting in.
At this stage in my life I would never do anything for minimum wage because minimum wage is for people with literally no other applicable skills. It's a child's wage. If you're a grown, non-disabled adult who can only secure a minimum wage job you have failed to develop yourself in life. It means you have not gained any skills or learned to offer anything to the world that makes you worth more than what the government forces an employer to pay you for simply showing up and doing the bare minimum.
Garbage take
High schooler larping online?
I wouldn't do it, but not everyone works because they need the income.
There are plenty of educated employees from higher social classes who work because they want to, not because they need to.
Lower income is often associated with lower social class - which isn't necessarily true. I have met too many volunteers and charity workers with brilliant family backgrounds who proved the opposite.
IB and PE are jobs that require folk to have a college education from good schools (or graduated as top students from decent schools). You get into finance because you have knowledge, ability, grit, intelligence and you're likely someone that your interviewers think would be decent enough as a person to be in an office with for 80 hours a week, for possibly years.
As a result, as an analyst, your base salary is significantly higher than that of a minimum wage worker, where you get paid $25/hour instead of $15/hour
LOL NO
What do you mean by the prestige, because I see the prestige and money going hand in hand. There are definitely people who would do it for free, but thats a small group.
It's like professional sports, lot less people would be trying to be pro athletes if it paid $5 a year.
DEL
I still would say it goes hand in hand. Part of working at GS or any other prestige company/organization is the payoff and the competition to get in. Think about when you tell people you work in IB or work at GS, you don't tell them which deals you've done, or if you go on some crazy expensive vacation they don't talk about your deals, they just ask for the money.
Say, GS paid minimum wage but 7/11 stores paid current banker wages, I think you would see heavy competition for the 7/11 jobs.
Minimum wage = minimum effort, so no.
Prestige doesn’t pay my mortgage, believe it or not, so no
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