Bankers are pussies?
It seems as though most bankers choose banking because they are too afraid to explore alternatives.
As in, most banker's interest in banking began when they realized there was big money involved or at least wanted to be involved in the financial system that created huge revenue. The reality, however, is that most bankers won't ever make serious dough. 500 G's a year is a lot, don't get me wrong, but it's not aristocratic money, and it takes a long ass time to get there. Why people want to drudge through banking as a career or even lateral over into PE for mediocre results... I'm not entirely sure.
Then again, it seems clear. Elon Musk described entrepreneurship when he said that it was like "eating glass and staring into the abyss." Most bankers choose banking because they know it will offer a decent paycheck and fancy job titles. They are too afraid to eat glass and stare into the abyss, knowing that they may fail. Obviously it really does take balls to be an entrepreneur, because you may never make any dough and you actually have to solve problems with your own creation on the line. Nevertheless, working 80 hours a week for your own project is probably better than working 80 hours a week for your bank. Moreover, the potential payoff with entrepreneurship is MUCH higher.
The reality seems to be that bankers are people who lack the creativity/grit to actually innovate and would rather just follow a path set before them with the promise that after they work their ass off for 30 years they might be able to make the money they've been dreaming of. Unfortunately, by that point most bankers will have families and not be able to fully enjoy that huge paycheck.
So basically, bankers don't have the balls to seriously gamble and would rather walk away from the table with a comfortable amount of chips. With all that said, I too lack the balls and will go ahead and become a banker. I don't think it's all gloomy. Perhaps within finance there will be staunch competition and meaningful leadership that contributes to a worthwhile career and life.
Agree/Disagree? Why aren't you eating glass and stare into the abyss?
all my entrepreneur friends thought they were cool exploring all their quarky ideas after college. Now as they get into their mid 20s its just embarrassing as they have absolutely zero to show for it. Don't explore entrepreneurship because its ballsy or quarky or fun, do it if you have a good idea. Dont just do it to do it. That goes for banking too.
Very few new businesses will even survive, let alone make a lot of money.
All bankers will make decent money while employed. So it's not a hard decision.
Plus, it's way easier to start a business when you have some cash in the bank and can focus on the task at hand. Quite a few people on this site have held jobs while starting businesses, including myself. A few may even end up very wealthy....
So I don't see what you're getting at.
Everyone's path to their definition of success is different.
I'd say banking, consulting and sales are probably the top 3 routes in business to take which would set you up really well if you decide to do entrepreneurship.
I mean the guy was smart enough to get into a PhD in Physics from Stanford as well his BS in Econ/Physics from Wharton. So definitely not your 'average banker'.
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You're saying that everyone who opts for ANY high-paying, steady career instead of starting your own business are worthless pussies. I see that you're literally referring to all fields and careers here.
Life is not simply a dichotomous choice between finance and entrepreneurship. A lot of times, we are just shaped by our environment. If you go to an ivy league, chances are a lot of your buddies are going for finance jobs and thus you feel you should do the same because going to an ivy gives you the privelege of being easily recruited - so why not take advantage of that privelege. Maybe, some people just don't have ideas to start a business at the moment they graduate college and thus feel pressured to take the finance job b/c of all the pressure to "get a job" asap after college. I'm a senior HS student so I feel you. I'm pursuing finance but I'm always open to entrepreneurship but I'm NOT going to be one of those kids who call themselves an "entrepreneur" but without anything to show for it.
this is dumb
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