Came to the realization money does not buy happiness

Now I am lost in life. I see my friends working in foreign countries, being officers in the military and travel guides out West. What am I doing? Pushing paper around to make my company money? and in the event I make a nice chunk of change in the future - it means I can buy an overpriced plot of land out in the suburbs? Only to die a imagining what I could have been if I hadn't focused solely on money.....

 

I really don't get your issue. Push paper, plan some vacation time. I'll travel overseas 3-4x a year. Sometimes for a week, sometimes for 3_4 days. If you enjoy something you'll do it.

My buddy is overseas in the Navy and is miserable. Being a tour guide sounds cool until you're 30 working at sbux.

Part of being an adult is doing an adult job. You're making great money and setting yourself up for later in life. Don't get lost because some pal is doing something cool while you're formatting a book. Long game bro.

 

Then go out and do some cool shit. You don't have to drop everything to go hitch hiking across the continent but you can look for more of a work/life balance and dedicate more time to doing things you actually love doing.

Or say fuck it, pour another glass of JD and grind it out, because let's be honest - showing tourists the eiffel tower won't pay for your Ferragamo's.

 

An existential crisis from an analyst? Now I really have heard it all. You aren't going to wake up happy everyday but put things into perspective.

Money doesn't buy happiness but not having money will make you miserable. You should be happy about your career instead of comparing it to other paths.

Think about the life of that tour guide, that life would suck after about 4 months, and he'll have to do that for the next 45 years. It's all relative, you're bored one day and see pictures of his "great life" and yours looks like shit by comparison. Spend some time thinking about that and you'll probably be pretty happy with your long term prospects. This is just another reason to get off facebook, being bombarded with the highlight reel of other people's lives is going to drive you crazy.

Suburbs? There's no need to have your soul ripped out of your chest. No one says you have to go to the suburbs or have kids, if you don't want either... don't do it. Most people get caught up in what's expected or next rather than on what they want out of life and those are generally the people that end up unhappy.

 

Money doesn't buy happiness.

But it lets you buy things where, if you didn't have them, you'd be less happy. Like food, books, healthcare, peace of mind.

Money is not an end, but it's a fucking good means.

Those who can, do. Those who can't, post threads about how to do it on WSO.
 

I'm 29 now. When I was 22 at my first job (investment banking) I had an "existential crisis" about the lack of meaning in my job. In fact, I quit my job after about a month (foolish, although things worked out in the end). What I came to realize is that your job is just a job. Outside of work, enjoy dating, enjoy your friendships, and good movies, and hobbies, and good food. Take some vacations with the money you're making. Watch some sports up close with the tickets you paid for with your good job. Buy some nice clothes that express your individuality. Buy a fun car.

When at work, make friends. Become an expert at what you do and really learn your industry well. People don't believe me when I say this but if you learn history and finance really well and keep current on global events it unfolds to you a story of "us"--humanity. Take control of your career--become an expert and when you start understanding your job (your industry) in a deeper way you'll start to appreciate why it's important.

Array
 
Virginia Tech 4ever:

I'm 29 now. When I was 22 at my first job (investment banking) I had an "existential crisis" about the lack of meaning in my job. In fact, I quit my job after about a month (foolish, although things worked out in the end). What I came to realize is that your job is just a job. Outside of work, enjoy dating, enjoy your friendships, and good movies, and hobbies, and good food. Take some vacations with the money you're making. Watch some sports up close with the tickets you paid for with your good job. Buy some nice clothes that express your individuality. Buy a fun car.

When at work, make friends. Become an expert at what you do and really learn your industry well. People don't believe me when I say this but if you learn history and finance really well and keep current on global events it unfolds to you a story of "us"--humanity. Take control of your career--become an expert and when you start understanding your job (your industry) in a deeper way you'll start to appreciate why it's important.

This is solid.

Get your facts first, then you can distort them as you please.
 
John-Doe8:

Don't compare your real life to someone else's highlight reel (Facebook).

THIS

You know what most guys in a military hot zone, getting sent to every god forsaken hell hole, or giving the same damn tour every day would tell you: IT SUCKS. Behind the facade of their "epicness" and "awesomeness", they have the exact same concerns about the meaning of their life, and you're just comparing your day to day with their highlights that they talk about for 5 minutes when you meet. You think you're so screwed into buying a house or making some company money, but the reality is that you're deluded about what to expect from a job.

Guess what: you're an adult with a job and it sucks. If it were the military, a guide, or whatever, it would still suck. It's called WORK for a reason, and the only way out of the suck is to find something you actually enjoy doing and go after it....and that doesn't mean "stuff that sounds really cool when other people talk about it".....it means YOU actually enjoy it and can make a living off of it. You're not a kid anymore, and you will have to come up with a way to buy food and afford rent so you can sleep in doors, most likely for the rest of your life.

And that sucks. It really does. But that's how the real world works, and the faster you come to terms with it the happier you'll end up.

Luckily for you, the upsides to your particular suck are pretty high, higher than 99.999% of the human race. Seriously, get some enjoyment out of your non work time before you do something stupid. If you really want freedom, REAL FREEDOM, then start working on a way to own your income, because paying your way through life is priority #1. Without it, you give up your independence. Them's the rules. The smart thing to do is figure out what you want, and having some cash on hand is going to go a long way towards securing it.

If you find something you just HAVE TO do......then go do it, whatever it is. Otherwise, grow up, save up, and find the job that will make you happy. Or if nothing else, a job that will allow you to afford the things in life that make you happy.

That's all there really is. Go be happy. Do it for you.

Get busy living
 
Dingdong08:

Welcome to being an adult.

This (points to above).

If you have enough savings, then quit and go pursue something that interests you. This could be travel, a new hobby, grad school, an activity, volunteering etc. Actually on the last thing.. Volunteering. Maybe you could spend some weekend time volunteering, helping people out or meeting different kinds of people to get some more perspective on things in general. The struggles that a lot of less fortunate people face every day may open your eyes and you may realize that life isn't so bad... Or you might realize that it is and be pushed to make a change.

Assuming you have put in a decent shift and people like you, then you'll have the start of a network for when you do want to get a job again, assuming that you quit.

Good Luck

I used to do Asia-Pacific PE (kind of like FoF). Now I do something else but happy to try and answer questions on that stuff.
 

Life isn't THAT glorious. There is no transcendental or deep meaning; each person has to decide for himself what matters to him and how he should pursue his time. Although money cannot buy happiness per se (happiness is just the feeling you get when your brain is in a certain biochemical state), it frees you from the burden of having to worry about money, a far worse fate. Money gives you FREEDOM to pursue what you want (i.e., a hobby, travelling to exotic locales, eating out at nice restaurants, etc.). In the end, money is a means to an end; it allows you to do the things that makes life worthwhile. A job, insofar as it enables you to make that money, is a mere instrument to achieve that goal. Nothing more, nothing less. Do not try to derive a higher-level meaning from your job because you won't find it.

 

We all have our weak moments when we look at the highlight reel on Facebook and think "what the fuck am I doing? I'm missing out on so much". But on the other hand, having money gives a kind of freedom that the tour-guides, world travellers, and people with fun jobs have yet to experience. As my father once told me... You can always choose to make less money later. But for now, is it really so bad? By all means make your 20's count, take your vacation days, stop to smell the roses, etc. However, imagine what you'd be doing if you weren't pushing papers - is it really transcedental? And on the other hand, think about how much easier money makes EVERYTHING, and the world of options that your career can open for you.

Plus, something which I don't think a lot of people who are in their first or second years of work experience realize, most jobs get better with time. You get more responsability for more interesting things, and if you aren't getting that, you can switch jobs. So, it's not all bad, and there's a lot of good that nobody should take for granted.

 

This post is slightly retarded. No shit money doesn't buy happiness - but as others have said, the grass always seems greener on the other side. Think carefully about what you're really comparing your job to and how good that would really be - for example, you cite a tour guide.

Do you honestly believe that being a tour guide wouldn't get boring by the 50th, or 100th, or 1000th time you've given the exact same tour? Do you really believe that you'll marvel at the sights every time and think to yourself "I'm so glad I quit my well-paying job to earn relatively little and show random tourists the same thing every single day?" C'mon man...you're smarter than that.

If you really want to do something meaningful, quit finance and enter medicine or something; there are very few things that truly have "meaning" at the end of the day - medicine and military among them, in my opinion. However, be careful not to become one of the jaded doctors/nurses who thinks the health system is fucked and they can't really help anyone, or who gets annoyed dealing with regular coughs and colds all day, or who gets mad because patients now act like they know more than doctors now that they have access to webMD and google. If that's not your thing, join the military - but be careful not to become a jaded member of the military who doesn't see the point in what's going on, or who misses home and friends and family etc.....Do you see a pattern emerging? The grass often seems greener on the other side, but that doesn't mean that it is and what may seem awesome to you now will likely have its own host of negative aspects after some time if you try it.

Sack up and get a hobby or something to keep you busier....sorry if I sound harsh, but come on man, think about it carefully and you'll realise very few things have any true "meaning." You're born with nothing and you can't take anything with you - in the grand scheme of things, you are literally and truly insignificant (as is every other individual who has been or will be - clearly not a jab at you personally). In light of this, worry less about what society or parents or anyone else thinks you should be doing and worry less about what supposedly has "meaning" - instead, find what you love and do it well. At the end of the day, that's all that really matters.

Tl;dr: if you truly hate your job, quit. Don't whine about it.

 

Surprised at the tone of the responses here.

I think it's fine admitting to yourself that a lesser degree of financial success is adequate for yourself, and you value other aspects of life more. The next step is to fine what does make you tick, and pursue that, plain and simple.

Props to you for concluding you admire other paths more than the one that focuses primarily on monetary gain. I'm glad there are people like that. The world doesn't need 7 billion wall street guys.

 

You can't save dolphins without money.

'Corruption? Corruption is government intrusion into market efficiencies in the form of regulations. That's Milton Friedman. He got a goddamn Nobel Prize.'
 

No, you can't, true.

But, to use your example, the OP could work full time at an organization and figure out the most efficient way of saving dophins, or some way so that it doesn't inconvenience 7bn people, or raise money for the cause, etc etc etc rather than trying to make millions of dollars, be miserable in his life and throw a few grand at the cause of saving dolphins, and leave the monetary donations to those who have higher financial aspirations.

I used to do Asia-Pacific PE (kind of like FoF). Now I do something else but happy to try and answer questions on that stuff.
 

It wouldn't be miserable if he knew he was making money in order to save dolphins. That's called dedication and putting the hard work in.

'Corruption? Corruption is government intrusion into market efficiencies in the form of regulations. That's Milton Friedman. He got a goddamn Nobel Prize.'
 

Take it from a guy who just spent 5 months unemployed. Money gets you a roof over your head, food on the table, and an outlook for retirement income. Heck, your buddies in the military who've been out to bumfuck nowhere would attest to the fact that you're better off than about 3/4's of the world's population. And dude if PUSHING PAper bothers you, well you're more than welcome at taking a shot at joining our nation's bravest and risk being fired at by enemy forces out in some desert/jungle. OR dealing with the operational hazards of being a tour guide

Be merciful that you have the means earn money in a safe environment, and to buy things like a snuggie and be happy.

 
ScarfMob1:

Take it from a guy who just spent 5 months unemployed. Money gets you a roof over your head, food on the table, and an outlook for retirement income. Heck, your buddies in the military who've been out to bumfuck nowhere would attest to the fact that you're better off than about 3/4's of the world's population. And dude if PUSHING PAper bothers you, well you're more than welcome at taking a shot at joining our nation's bravest and risk being fired at by enemy forces out in some desert/jungle. OR dealing with the operational hazards of being a tour guide

Be merciful that you have the means earn money in a safe environment, and to buy things like a snuggie and be happy.

Ha, I have a Snuggie--it's freakin' awesome and I definitely endorse it.

I agree with you 100%, but I'm thinking that the OP is better off than about 95/100 of the world rather than 3/4.

Array
 

Although it may be true that having a lot of money doesn't guarantee happiness, I can guarantee that if you have a loving and beautiful family and not enough money to live freely, you definitely will not be as happy as you would be if you had the ladder.

twitter: @StoicTrader1 instagram: @StoicTrader1
 
BEAST MODE TRADER:

Although it may be true that having a lot of money doesn't guarantee happiness, I can guarantee that if you have a loving and beautiful family and not enough money to live freely, you definitely will not be as happy as you would be if you had the ladder.

Depends on the type of ladder. Although some very special people struggle with any ladder.

 
BEAST MODE TRADER:

Although it may be true that having a lot of money doesn't guarantee happiness, I can guarantee that if you have a loving and beautiful family and not enough money to live freely, you definitely will not be as happy as you would be if you had the ladder.

Depends on the type of ladder. Although some very special people struggle with any ladder.

 
PewPewIamMewtwo:

Now I am lost in life. I see my friends working in foreign countries, being officers in the military and travel guides out West. What am I doing? Pushing paper around to make my company money? and in the event I make a nice chunk of change in the future - it means I can buy an overpriced plot of land out in the suburbs? Only to die a imagining what I could have been if I hadn't focused solely on money.....

Get over it. You're putting the cart before the horse.....and I know because I have done some of the things you think of as more meaningful and you're grossly ignorant if you think that touring for pleasure or working in the Army would give you some kind of purpose you don't have now. If you doubt me talk to some of the vets in any MBA program about why the left.

It also doesn't mean you're wrong to chase money. Money is a TOOL. Nothing more, nothing more or less. You can use to buy stupid shit, fancy clothes, exotic travel experiences, hell even politicians. You can also use it to fund the dreams people have by investing in their startups, put it into existing altruistic causes or retire to start one of your own with your earnings, or go an extended soul searching vacation.

Keep getting the money. The meaning comes in how to use it.......

Assuming of course that you're not a troll, which I doubt. The thought occurred to me before I started writing but I figured I'd post anyone because someone here has had similar thoughts.

 

This is an old thread, but let me just add a few thoughts of my own, and you guys can comment whether I'm on the mark or not.

  1. Screw social media (Facebook, Instagram, Snapchat). You can have these things, but stay off of them as much as possible. Sure, it's harder when you're a millennial, but certainly not impossible. All of the posts here are obviously the best experiences that people are having. The key thing is they are not having these experiences all the time, but at every single point, at least a couple people in your 700+ friends ARE having a good time, and they are posting it, which makes it seem like everyone is having a good time all the time. All social media does it serve to make you less secure about yourself, your happiness, and distracts you from your goals, career or personal. Use only as necessary (perhaps for Facebook Events, or Snapchats to just your closest friends/girl you're tryna lay pipe on).

  2. Money does buy happiness; anyone who says otherwise doesn't have it and uses this reasoning as a coping mechanism for it. However, the key thing is, money only buys happiness to a CERTAIN POINT. After you've got 200k+, making 300K is not necessarily going to make you happier. Or perhaps on a higher level, the difference in making 10mm vs 50mm is marginal in terms of the personal happiness it brings you and those you care about. Understand that money enables us to have experiences and items that we otherwise couldn't have, but all the money in the world will never equate to deep personal relationships with people we care about, whether they are parents, friends, gf, etc.

  3. See what is lacking in your life. Take an hour and really think this through. Personal relationships? Starting making an effort to reach out to your friends, rekindle relationship with parents. Want to meet new people? Join professional organizations, hobby clubs, use apps like MeetUp that connect people with similar interests. Want greater meaning to your life and feel like you're contributing to the world? Volunteer, also a great way to meet people. Financial security? Invest the majority of what you make is passive revenue streams.

Here is the key thing. Everything here depends upon your mindset and is within your power to control it. Go out and get it

 

I completely agree on the social media part, and it just greatly exaggerates the upsides of everyone else's life that you see. If you keep on trying to compare your average day of life/average moment to the best moments of someone else's life, you'll always feel like you're missing out, when in fact everyone has their own difficulties in what they are doing.

 

1) a) Those who think they can buy happiness can't.

 b) Money is in integral part of life, any medium which I can exchange for shelter, food, and women is 100% integral to 
     my life.  Anything over a reasonable PV calc of cash flows/expenses until I am 90 years old is excessive.  If you fail to 
     see that money is security of your future food and shelter you are missing the point.  To that I think great wealth is 
     a huge hurdle to overcome to being a complete human being, happiness is a state of mind not a dollar amount.

2) Your geography does affect your political leanings. However how I am conservative growing up in NYC is beyond me, although I admit it almost got me. Religious people are more conservative in general I beleieve because they believe in something as opposed to progressive post modern culture which is essentially an offshoot of nihilism. Not a great way to go through life, just look at the lives of the writers/philosophers of that movement. When your grandfather is forced to move to America because his home country nationalized his business you stop seeing socialism as good.
When his home country's neighbor several decades later has helped fund the terrorism and drug trade that ravishes the county you stop leaning left.

 

mo money mo problems

it's important, don't get me wrong, and rolling in it isn't a sin. but at the end of the day i derive a greater proportion of my happiness by having time to enjoy time with actual friends, helping others out, and laughing at the massive joke life is. money enables you to live some things in life that are worth doing, but beyond that it sneakily changes your attitude towards a lot of things and can be a curse when you don't use it properly.

to be philosophical, i feel like all of us are striving towards the same thing and we have no idea what it is, with lousy directions on the way to get there. when the allure of money fucks up your compass to a large extent, you are in a losing trade and it's time to gtfo.

 

My fun would be, when I become a banker, cars and a house, a big fat eye popping extra large mansion and I would also buy little gold bullions...those little gold rectangles are just so attractive!!!

 

That guy must be going through a serious midlife crisis... That's the kind of stuff we do when we're in our early 20s. I now feel like a complete retard for behaving like that, but what's done is done.

 

Yeah, this poor guy seems so terrified that he's lame that he spends $300-$400k a year on status objects -- the absolute best plasma TV, the new sports car every year, the high-maintenance model girlfriend that he can't stand, the $500 bottles of vodka, etc. And his dialogue about these things is not about how much he enjoys them, but about how much they cost and about how they're the best, the very very BEST, that money can buy.

He slammed my taste in Champagne because I prefer Heidsieck Monopole and Clicquot Grande Dame Rose to his beloved Cristal (which, as everyone knows, is The Best). His support for that wasn't a matter of the wine's characteristics... he simply said that Cristal gets more points from Wine Spec and costs more.

Sure, I say, and the dosage is so low that it's barely a champagne. There's very little flavor added from the secondary fermentation and there's no depth or dimensionality beyond the bubbles (which are, admittedly, tiny and adorable). You might as well be drinking club soda with a few drops of FD&C yellow #1 added. In my opinion, I say, Cristal is champagne for people who would really prefer vodka-soda but who want the feeling of drinking champagne.

He shrugs. "So? It's the best there is. That's all I need to say."

He also never mentions having actually had fun with Paris, either. He says she doesn't say much.

 
Mis Ind:
He also never mentions having actually had fun with Paris, either. He says she doesn't say much.
You sound surprised, as if you expected there to be numerous thoughts bouncing around in her head that were worth commenting on. my expectation of her typical comment would be something like:

"So after I play a DVD, I always wonder... how does it rewind so fast?"

 

Generally, I get in touch with dominatrix specialists and have them come to my apartment and choke me while I masturbate. But the real fun comes when I turn the tables on them: I have her choking me on my bed, and on the floor next to my bed is a metal bat, so I reach down right in the middle of our heated passion and slam her in the temple until she lets go. Then I hit her in the mouth, etc., until I can safely pronounce her dead. But the challenge of getting her down to my car in the parking garage without being seen by my neighbors in the hallway also adds a little fun, sort of like I'm playing hide and seek.

Anyway, most of the time I'll drive out to a nature preserve, drag the body way off the path (as far as I can possibly drag her without collapsing of exhaustion), and half-assedly cover her up with some leaves. Last time I did this was several weeks ago; so far no problems!

 
zala rules:
Generally, I get in touch with dominatrix specialists and have them come to my apartment and choke me while I masturbate. But the real fun comes when I turn the tables on them: I have her choking me on my bed, and on the floor next to my bed is a metal bat, so I reach down right in the middle of our heated passion and slam her in the temple until she lets go. Then I hit her in the mouth, etc., until I can safely pronounce her dead. But the challenge of getting her down to my car in the parking garage without being seen by my neighbors in the hallway also adds a little fun, sort of like I'm playing hide and seek.

Anyway, most of the time I'll drive out to a nature preserve, drag the body way off the path (as far as I can possibly drag her without collapsing of exhaustion), and half-assedly cover her up with some leaves. Last time I did this was several weeks ago; so far no problems!

WTF is wrong with you...haha
 

Not a banker yet, but a vacation to Hawaii sounds good....as for the rest, I'm dumping it in a CD or municipal bond or tech stocks or something.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

Hey, great investment plan. The low beta on the CD will balance out the high sigma of the tech stocks and you'll be a millionaire. By the way, would you like to add some real estate to that portfolio? I've got some great lakefront property in Louisiana I'd be glad to sell you.

(Yes, I know you were joking. ;)

 

I'm not even a banker and yet I'm spending close to $500pp on meals at Alinea despite my paltry income, so I imagine there will be much more of that, especially if I move to NYC and have Per Se and Masa at my disposal.

So I guess I plan on blowing my money on food and drink...oh and a Gallardo Spyder. ;)

 

Everytime I'm in NYC I don't think I ever exceeded 30 mph. So I think I'll probably end up putting my car back to stock and giving it to my sister, rather than bringing it to NYC to have it stolen in the first week.

 

Le Grande Dame is one of my favorite champagnes. Not to excited about the Rose though, a little too light for me perhaps, but its been awhile since I had it. I have mad some of the mid-grade Piper-Heidsieck and truthfully wasn't too impressed. One of my good friends shared the same opinion. I wonder if the Monopole has a significantly different or better taste? I personally enjoy a bottle of Veuve Cliqout, or the 'Reserve' Veuve Cliqout from 1994 or 1997 as much as anything else.

I enjoy expensive red wine more than champagne. One of the best I have had is a 1999 Chateau Cheval Blanc, which I believe would go for $500 or $600 in a restaurant. It was quite amazing.

---------------- Account Inactive
 

OK...in NYC you can do 50-70 on Henry Hudson Parkway or FDR Drive that go up either side of Manhattan (the former being west side and the latter being east side). Yeah and I agree that bringing a brand new lamborghini into Manhattan and not parking it in a garage is plain dumb.

Well a car IS useful if you live in NJ or Westchester like right outside Manhattan...you'll never be late to work because you'll leave at like 7AM to avoid the rush hour traffic. You can definitely do like 75mph on the NJ Turnpike.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

CDs: NO RISK, rate of return=3% (5% on shorter term CDs) US treasury bonds: NO RISK, rate of return=5-7% Blue chip stocks: LOW RISK, rate of return=15-30% Tech stocks: HIGH RISK, rate of return=0-300% Startup company: INCONCEIVABLY HIGH RISK, rate of return=0-1,000,000,000% (think Dell and Microsoft)

Yay I actually like paid attention in my first like two weeks of AP Econ.

To the guy who was talking about low betas and high sigmas: I have no clue what you're talking about.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

Beta = systematic risk. Sigma = standard deviation or overall risk.

I don't have a car, I have a Vespa. I can park it almost anywhere, take it almost anywhere, and not pay a dime to park. Five bucks a month in gas. It's a nice solution.

Now only if it would stop breaking down on me....

 
Mis Ind:
Beta = systematic risk. Sigma = standard deviation or overall risk.

I don't have a car, I have a Vespa. I can park it almost anywhere, take it almost anywhere, and not pay a dime to park. Five bucks a month in gas. It's a nice solution.

Now only if it would stop breaking down on me....

Ha. You are way too cool to be a banker...

What type of group do you work in? M&A? A product group? Sponsors?

---------------- Account Inactive
 

Buyside, I'm in an industry group. And yeah, a lot of people find my suit-and-vespa combination hilarious. For winter I have an extra-large old school leather motorcycle duster with a seat pleat, and people laugh at that too. Apparently the combination of hardcore bikers' leathers and a cute little Vespa is ironic to most. I find it utterly appropriate.

Andrew, Vespas are mechanically quite simple but there's still lots of room for them to break down. Mostly, mine has problems with its electrical system -- fuses, battery problems, that sort of thing. Apparently I ride it in such short stints that the (pretty tiny) battery is insufficiently reimbursed for the cost of starting the engine and running the headlamp. The engine of a Vespa is normally so robust (compared to cheaper scooters) that it simply doesn't have problems during the first 5 years of ownership unless you fail to change the oil. I've got a trickle charger for my battery, but I still end up replacing the fuses pretty frequently. It's a real pain because, unless the blown fuse is in the battery case which I can access, I have to get roadside assistance to get the thing to Vespa SoHo to get the front case taken off. This is why I've been walking to work recently.

Denzera, I kinda figured that. But he's the kind of guy who might think he was having fun with her because you're supposed to.

 
Mis Ind:
Buyside, I'm in an industry group.

My contacts are in the lev fin groups so I likely wouldn't know you.

I have always wondered, do the lev fin guys that put together our books just copy/paste out the orginal m&a book and then add the product information as appropriate? Surely they aren't re-doing the whole book, so I guess that's how it would work.

---------------- Account Inactive
 

speaking of cars, BMW has a lot of good lease specials on their website. And yes I know a lot of people are against leasing, but its actually not that bad. 1) you drive more car for your money(can drive a 40K bimmer, for the same price it costs to finance a 20K civic) 2) everyone gets bored with their cars after 3-4 years anyways, and if you compare financing rates to lease rates, if you sell the car after 3-4 years, the only "profit" you get, is the extra money you paid into the car over the 3-4 years, and you get to worry with all those idiots coming to look at your car 3) cars are a depreciating asset, so you really aren't "investing" any money into it 4) and BMW specific, their lease rates are top notch, a 42K 335i will cost less to lease a 30K Honda Pilot, + you save money on all the maintance since bmw offers that free + its $50 less than the pilot

So anyways here are the lease specials http://www.bmwusa.com/vehicles/leaseoffers

07 328i coupe = $459/month 36 months 07 328xi coupe(AWD)=$489/month 36 months 07 335i coupe(the new turbo engine)=$529/month 36 months 07 525i sedan(weak motor)=$499/month

the rest aren't that good but i'll post them anyways 06 750i sedan =$919/month 06 X3 SAV = $379/month 06 X5 3.0 = $439/month 06 Z4 3.0 = $329/month

I sound like a car salesman :(

 

and yes, if I was working, I'd lease the 335i in a heart beat. Shouldn't be long before they come out with chips to increase the performance of them, so for 40K, and the $200 bucks for the chip, you'll end up with a 400 whp car...then after 3 years when the lease is up have the chip taken out, and turn the car back in worry free.

 

Get a hobby, learn rock climbing, scuba diving, go to the sports bar, chase skirts (sorry dont know the opposite slang term), fucking play dungeons and dragons if it makes you happy, you shouldn't think that having a better car will make you happy.

BTW Maybach RULES!

 

I stand corrected, my point was that just because you have the coolest toys doesnt mean you will be happy. Cars are usually seen as a status symbol, if that is why you want the cool car, it wont make you happy, but if you are a gearhead...

 
Gibbon:
I stand corrected, my point was that just because you have the coolest toys doesnt mean you will be happy. Cars are usually seen as a status symbol, if that is why you want the cool car, it wont make you happy, but if you are a gearhead...
yeah money isn't everything...this is why so many people burn out in IB, they think money will make them happy.

and yes you are correct i'm a gear head if you want to call it that, so I do get a lot of fun from cars.

 

255 max on my BP, I was once up to 300 (well 285, but I was getting close), Id have to see the 420X7, excuse the insult, but in this instance ou remind me of Pat Robertson with his legendary leg press.

 
Monopolisf:
Thought about taking it again now. But I had a not so pleasant experience with a kidney stone about a year ago (at the ripe age of only 25).

So these days I'm a bit paranoid about the shit I consume.

kidney stone is due to your diet. I had a kidney stone at 19, after that I started drinking water a lot and it never happened again. Just drink a lot of water and you'll be fine.
 

That was my problem. Never drank water. Now I drink a giant ass bottle of SmartWater from wholefoods everyday.

Still...creatine is excreted from your body via urine. So I don't trust that shit.

Don't trust cheese either. I have a feeling one to many fucking cheese pizzas in college led to my demise (as most kidney stones are calcium formations)

 

I've realized that I can't buy happiness.

..Volunteering and advising people. Getting to know them and making friends.

Staying away from Type A Finance douchebags.

The world has changed. And we must change with it.

------------ I'm making it up as I go along.
 

While I appreciate buying stuff to make me happy, I find building things is much more enjoyable, and as a result, spend part of my earnings (bonnus and salary) on wood. Yes, that's right, wood. As in what trees are. Every year, tried and true, I strive to complete 3-4 major projects, almost all of it furniture and cabinetry, every year. This year, I'm going to reduce it to 2, as the project I've been working on since I finished the CFA in December is taking its toll on me (I wake up with shakey hands from the orbital sander in the middle of the night, sleep poorly, lay awake late into the night thinking of all the small flaws, subtle design changes, color matching issues and potential installation issues), but it makes me happy looking and using my creations.

I spent last summer completely rebuilding a deck, built a space efficient book case and electronics nook (for home audio) into a very inefficent cabinet space and "Upper" cabinets for a laundry room (a rack of 4 top-style cabinets) to go on top of a washer and dryer for storage purposes.

Right now, my major project is to complete a 500 bottle Wine Celler (from the ground up), a bathroom cabinet/vanity combo, a desk and credenza, and a small cabinet. I've completed everything but the Wine Celler (I still need to stain, put together and install it) and the small cabinet (just need to stain it and install the cabinet doors). Forgoing the sweat equity involved, I've spent about 4500 on wood for the project, another 400-500 on parts, equipment (had to replace a planer that fried on me), stain and other miscelanious expenses, and about 500 hours SO FAR in all stages of the building process. I spent about half that time on the wine cellar, a real labor of love indeed, and I'm still not done. Forgetting the marble for both the Wine Celler and the bathroom cabinet/vanity combo, I have about 120+ hours of work left on the wine cellar (staining, putting together, installing the cabinetry and lighting, whatever else I may be forgetting), about 24 hrs of work left on the small cabinet (About 18 hrs of it is spent letting the thing dry after staining), and 5-6 hrs left on the cabinent/vanity combo (All plumbing to be done after the marble is installed).

You know what, it makes me happy, despite all the anger I have because of this wine celler. It's both my spiritual zen and a point of enjoyment, and I think that's what happiness is. That, and a cold beer on a hot summer day.

 
SAC:
I'm never happier than when I'm on a long run outside, especially at night. Soaked in sweat, music thumping in my ears, blistered feet covered in blood, its blissful, cool breeze in my face. I can't wait for summer.

minus this

SAC:
blistered feet covered in blood

I prefer running through puddles and ending up with the soaked socks and shoes. Blisters aren't my thing

 

3 things...

Aadpepsi, the furniture thing is just a hobby. It surprises the hell out of people to think that a banker will take time out of his busy day to build something that's not a model or a pitch book. Also, a guy, imho, should know how to fix the basics around a house or apartment without having to call the super or someone to do it for them. A guy should understand basic home improvement skills (how to patch up walls, fix basic things, paint, hang pictures, install shelving), plumbing (how to change a faucet, fix a leak, install a sink or a toilet, and be able to reroute, weld and install a full set of water pipes complete with fully functioning drainage system, reverse flow meters and bidirectional valves to control the flow of water better [Well, maybe that's a bit to advanced]), electrical (how to run cabling, install wiring and outlets without getting themselves killed, understand the basics of soddering), and just general maintenance skills.

SAC and Drexelalum11, the running is definitely Cathartic. I'm not too peachy keen on the blisters, but it's another kind of happiness. All natural runners high is fun.

Finally Dipset, move to japan and enjoy a career in the adult entertainment business. Given your love of getting jizzed on, that should solve your career choice issue.

 

Frieds... that's what I'm talking about, i.e. men that actually know how to do stuff vs. men that hire someone to do it for them. I admire the guy who is "useful". Means his upbringing was generally more akin to mine.

Example, a wall in my place recently got a stress crack. I know how to tape it up, use joint compound and sand that down until it's invisible. I hired a painter to paint my place... chose someone "cheap" and regretted it. The painter did not properly caulk between the baseboard and the wall and it annoys me to see the work done so carelessly and unfinished. Basically, I think a man should know more than I do about these things. I'm utterly AMAZED how useless most are.

Also I can appreciate folks that have "hobbies"... one of the reasons I'm able to maintain a sense of normalcy in this business is because I have a gazillion interests and an actual LIFE outside of work that has absolutely nothing whatsoever to do with finance.

 

I believe in capitalism. I'd prefer to pay someone to do that stuff, while I sit on the couch and put back a couple of beers. BTW I respect the wood building, I am talking about fixing minor problems.

 

running around with my camera and headphones for hours.....after working the entire summer in nyc with only two days off, i didn't realize how much i truly appreciate my time to shoot pictures

thank god i'm not going back to the same bank...

 

Aadpepsi, if a lady knows more than I do about fixing stuff around the house, it makes it much more amusing when you discuss who wears the pants in the relationship.

Walt, I believe in capitalism too, but this country was also founded on hard work and a good work ethic. As to fixing things, if you don't know how to do it, learn how to do it so you know for next time. Much better than paying someone to do it and you get the satisfaction of knowing you did it yourself, plus you can enjoy the beer more knowing it's your reward for the sweat equity you just committed. That's how I got into building, helping my dad fix stuff and put furniture together in his shop.

Bondarb, I don't really think so. Don't get me wrong, I enjoy going out and painting the town red like the rest of the board, I also can't see myself doing it 7 nights a week. Hookers were never my thing, and I'm not the kind of guy who likes to waste my time at a place like Marquee, paying for bottle service or insulting the bartender because he either screwed up my drink or told me I shouldn't order a "cocktail that's hard to make" (Is a Manhattan really that hard to prepare?) and go with bottle service instead. I'm more of a dive bar, microbrew, cocktail lounge kind of person, so it conflicts with my personality.

Vacations, Fine Dining, Living the High Life. Everything has its place to create happiness. It's just about finding your balance of it. Ultimately, it comes down to doing what you enjoy. Driving around in my car does make me happy at times, when the weather is fantastic, and I can drive with the top down, windows open and blasting classic rock. At the same time, I absolutely love it when there's 5-6 inches of snow on the ground and I can take my car out for a drive and just tear through the snow on empty roads at 3 in morning and when I get in between 4-5, I'll have a beer, or Hot Chocolate with Ice 101, and if the snow is still falling, just watch it fall and pass out on the couch. I can't tell you how many times during the spring semester of my Junior year that doing that at 3:30 in the morning on a Friday or Saturday after a night of staying sober and running a fraternity party (President and Risk Manager) would really calm my nerves and make me forget about the stupid shit that went on. It made me happy, content and reminded me that there was life outside of the small town where my school was located that went on no matter what things were like on a Friday or Saturday night.

Sometimes, splurging on a nice suit makes me happy. About a year ago, I found this gorgeous Zenga suit that I wanted, splurged (thank god for the sale) and I love wearing it because it's a pride thing (Plus it's a charcoal gray with a very sharp looking thin purple pinstripe). Other times, it's hard work and dedication. Trust me, there are times when me and my boys spend the entire day playing video games (Street Fighter IV, Halo, Gears of War, Guitar Hero, Rock Band, etc.), drinking beer and ordering in food and you just are content, as though God (is) in Heaven, All's right with the world. That moment when everything is perfect, is like the Zen of happiness and that's what people can't buy. It's the achievement of that which makes us happy, imho. So, if it means having spending the cash on sex, booze, drugs, physical pleasure, spiritual pain or just something enjoyable, then you've got what you're looking for.

 

It differs from situation to situation. If you were born with a lot of money, it might not be as easy to be happy as someone born poor but recently received a big salary. The latter is able to improve quality of life for their family and friends, the former has not much room for improvement in quality of life. I am judging happiness by the improvement in quality of life (which isn't good enough I know ).

Absolute truths don't exist... celebrated opinions do.
 

[quote=Sonic]$75,000 is the magic number.

http://www.time.com/time/magazine/article/0,9171,2019628,00.html[/quote]

(slightly) This. Maybe a little more.

The point is, money dictates how satisfied you are with your job, not how fulfilled you are. One does not affect the other. You can be fulfilled with your job but unsatisfied with extrinsic factors, such as money or job security. Or you can be satisfied (good salary, etc), but feel unhappy and unfulfilled. This is because happiness and fulfillment are due to INTRINSIC motivators instead of extrinsic factors. Money cannot buy interest, eradicate boredom, cure unfulfillment, etc. It can mask your frustration for a while, but will not lead to fulfillment. Intrinsic motivitors such as doing "good work" (watch Steve Jobs address to Stanford), meaningful work, challenging work, and the like, lead to career fulfillment.

I would highly suggest you read "How Will You Measure Your Life" by Clayton Christensen http://www.amazon.com/How-Will-Measure-Your-Life/dp/0062102419/ref=sr_1… I am currently reading it and, not be overly dramatic or anything, it can change your perspective on life.

Have I found happiness? Obviously not. But I am trying, and finding a career which provides intrinsic motivation while providing various satisfaction factors (salary, prestige) that are inherently extrinsic is the ultimate challenge of life, and the road to career happiness.

To the starving man, beans are caviar
 

I'm not making big bucks, but I've noticed a trend among those who are exceptionally rich. The exceptionally rich use the successes from utilizing their money to compensate for an unwanted feeling. Warren Buffett used his success and money to make him happy after getting rejected from girls. George Soros relieves his back pain by making money. If money or the utilization of money for ventures doesn't make you happy, then you are better off finding ways to utilize that money other than monetary means.

There is life and death. I'm going to bust my ass to make an impact 'til the latter comes.
 
JDimon:
"If you want to be a leader, it can't be about money and it can't be about you. It's about what you leave behind" - Jamie Dimon, HBS graduation speech

Easy to say when you make Jamie Dimon money. Everything in the world comes back to money. The more you have, the more you can do. Let me direct your attention to a more appropriate quote, "Greed captures the essence of the evolutionary spirit." - Gordon Gekko - Wall Street.

 
JDimon:
"If you want to be a leader, it can't be about money and it can't be about you. It's about what you leave behind" - Jamie Dimon, HBS graduation speech

You forgot the rest of his sentence:

"...a giant, too big to fail, heavily subsidized investment bank whose failure could bring down the global economic system."

 

Est tempora perferendis fugiat at qui tempore. Mollitia odio voluptas ut non. Et dolorum iure quod ad assumenda autem sed. Aut sunt ab mollitia nihil excepturi nulla optio voluptas. Qui et et dolorem aperiam aut. Quam rerum provident vitae omnis. Et ullam nostrum reprehenderit eveniet.

 

Ut incidunt praesentium similique. Excepturi modi recusandae repellat architecto. In atque assumenda aut vitae. Repellendus non nostrum adipisci enim voluptate. Illo laborum ea ea rerum. Molestiae modi voluptatem rem eius.

Illo animi eum enim illo. Numquam non exercitationem adipisci. Consequatur eius eum officiis ab et. Voluptate minima autem minima ut ex beatae. Facilis perferendis vero aliquam similique quo nobis fuga ex. Pariatur possimus earum voluptas quasi itaque.

Labore laboriosam iste quidem nisi dolor recusandae est. Omnis impedit harum asperiores quia sapiente. Id corrupti unde hic excepturi quae et. Doloribus fuga sed saepe fuga laboriosam nihil quidem magni. Dolorem fugit ullam ut nostrum et molestiae hic. Soluta ducimus veniam optio rerum enim.

 

Autem ducimus et aspernatur ut tempore vitae. Et est incidunt blanditiis aut laboriosam labore. Aut non culpa rerum velit. Consectetur non eos voluptatem odit dolor sed et.

Eius eius eius libero neque consequuntur voluptas reprehenderit magni. Ipsa sequi pariatur culpa provident ducimus qui voluptas. Dignissimos saepe tempore sint qui et excepturi. Dolorem sint eius eius.

Voluptatum in molestias saepe atque vero numquam expedita. Distinctio nobis debitis labore voluptatibus fuga. Voluptas repellendus possimus ut quibusdam. Atque dolorum voluptates aut nesciunt fugiat enim quo.

 

Explicabo quae doloremque aspernatur possimus. Commodi et autem consequatur perferendis. Et et praesentium autem nostrum harum.

Ut est id commodi consequatur. Sunt a est ab possimus est nam. Quisquam quam suscipit voluptatem architecto et. Vel voluptate voluptates consequuntur. Quisquam molestias aut voluptatem sunt dolorum.

Amet et ut eligendi ratione repellat. Temporibus quia consequatur a accusantium. Nulla et vitae fugiat harum repudiandae. Ea voluptatem nisi illum vitae aut dolores. Omnis dolorem veniam eius est nostrum deserunt id. Non id aut architecto et dolores officia non voluptatum. Consequatur beatae accusantium minus velit et dolor.

Qui sint rerum consequuntur est dicta et fugit. Autem vel aspernatur commodi harum. Sed nobis molestias adipisci asperiores saepe omnis.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

Pariatur facere voluptas rerum eum. Quas quia eaque rerum aut. Aliquam quasi necessitatibus sunt accusantium pariatur odit quia natus. Quo tempore aut facere possimus et perspiciatis. Ut est dolorum dignissimos et ad. Et rerum in quod voluptatem. Expedita quia facere similique quia modi ut.

 

Quia quos dolore at itaque id consequatur. Repudiandae odit tempore enim soluta exercitationem culpa quis commodi. Facilis praesentium unde quaerat velit. Ut id sunt nemo ipsa nemo totam.

Asperiores aut harum quisquam rerum labore. Enim et quia id id illum incidunt nulla. Corrupti ea dolorem possimus maxime dolorem mollitia quos. Modi qui repudiandae consequuntur officia dicta ut.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”