How has high finance changed your worldview?

Working on both the sell side and now the buy side makes me think the only thing that matters to people is money and power. People won't treat you with respect unless you have a ton of money, power or prestige. Do you agree? How do you get away from this type of pessimistic thinking?

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Comments (27)

Nov 30, 2018

Some people need to get a life. Lots of messed up people are in financial services. I left the fast life and went to Corp Dev. Normalish hours, intriguing work, and comparable pay.

The prior slave driver I worked for was such a tard he skipped his father's funeral to get a deal done. I'm not even kidding. I bet you can guess how much a work life balance mattered to his team. He once said he would kick someone's grandma down a flight of stairs if the overall impact was >$1 NPV. Just a ruthless gunner hoping to get to the 9 figure net worth.

Funniest
Nov 30, 2018

Well first of all stop fucking using the term "high finance"

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Nov 30, 2018

you're not even an accountant yet. already buttmad about accountant shit. lol

heister:

Look at all these wannabe richies hating on an expensive salad.

Nov 30, 2018

swing and a miss

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Nov 30, 2018

every time you reply, im disappointed. can we get a new kid?

heister:

Look at all these wannabe richies hating on an expensive salad.

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Nov 30, 2018

nah

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Nov 30, 2018

i bet ur butthole tastes like vicodin

heister:

Look at all these wannabe richies hating on an expensive salad.

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Nov 30, 2018

yeah so at this point I'm gonna withdraw from the convo

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Nov 30, 2018

pops shoulda withdrawn fgt

heister:

Look at all these wannabe richies hating on an expensive salad.

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Nov 30, 2018

See, here's your problem. I just come on here to mess around. You legitimately get butthurt and now you're calling me a fgt like calm down lmao jeez, get some beauty sleep and come back better tomorrow champ

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Nov 30, 2018

ok im on it

heister:

Look at all these wannabe richies hating on an expensive salad.

Most Helpful
Nov 30, 2018

You and I have equally important majors.

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Dec 3, 2018

high finance has COCAINE

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Nov 30, 2018
cauliflowerfractal:

People won't treat you with respect unless you have a ton of money, power or prestige. Do you agree?

No.

cauliflowerfractal:

How do you get away from this type of pessimistic thinking?

Don't worry about what other people think. Respect others and they will respect you.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

Dec 2, 2018

Haha money has nothing to do with respect

Dec 2, 2018

The easiest way is to surround yourself with people who don't work in high finance. They will check your ego and talk to you like you are an idiot for the way you think. This ensures you don't get caught up in the mindset.

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Dec 3, 2018

SBd, great advice

Dec 5, 2018

Definitely trying to do this. Have found it hard to do so.

Dec 3, 2018

Working in finance is dehumanizing in a way because capital is relentless. Some fund somewhere decides to do something totally arbitrary in the grand scheme of things and it sets off a chain of events that ultimately ends up on your plate and you immediately know your next few weeks/months are shot. Then it's a ton of late nights and spreadsheets and reading and analysis of big dollar numbers, and it feels like there's a huge disconnect between this amorphous global financial market and you, like, canceling taco plans with friends, which is a very normal and human thing to want. I think that's a perfect recipe to become jaded - no one gives a shit in the end about a recap or a big merger, but something has to give to make it all seem worth it.

Agree with Dolphins are Cool that you just have to surround yourself with good people and enjoy the work, on some level. I get a ton of anxiety when starting a new project, but by the end it's rewarding to have tackled a complex situation, learnt a lot and worked through the issues.

Dec 3, 2018

Unfortunately whatever people talk about "high finance" - those people are actually not the one who makes the most money in real life. People who are entrepreneurs (i.e. Bill Gates, Jack Ma, Masayoshi Son, Li Ka-shing) and then people who are politicians (i.e. Vladimir Putin, Xi Jinping) - those people are actually the ones who control most of the wealth. Then you have financier family holdings like Rothschild who secretly control all the wealth. Everyone of us, who are in finance are mostly "agents" of those people. We are merely glorified employees who can get fired on a whim. So let's not think highly of ourselves here. Our job is not as special as the guy who is cleaning our toilets or the guy who is selling burgers - we are all replaceable. We are only here because we are lucky sperms and/or the lady luck favors us.

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Dec 3, 2018

Why can't more people recognize this? Half the idiots on WSO think becoming an MD will mark the ultimate culmination of their life. At the end of day, you are either a capitalist (i.e. business owner, equity partner, landlord, etc.) or a laborer whose value is exploited by someone above you. If you have to answer to anyone other than your clients/the market, you are an employee and no one gives a shit if you jump off a roof tomorrow or go crazy and quit your job on the spot to join an apocalyptic cult in Arizona. Alas, most WSO lemmings must see themselves as fellow "masters of the universe" to imbue their sad little wage-slave lives with some sense of higher purpose.

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Dec 5, 2018

Becoming an MD or something similar means you do make serious money. You're still in the 0.01%. While you're still working for many people and for shareholders and you're 100% replaceable but it's nothing to laugh at.

Dec 5, 2018

Ha MDs are not in the ".01%" of wealth. People in this category have tens of millions if not hundreds of millions of dollars in net worth.

MDs make a great living but they are still working a W2 job and paying 40% in taxes.

Actual wealthy people don't "work" in the same way you and I understand it - they simply own capital. It's a completely different mindset.

Dec 5, 2018

You're right. 99.99th percentile demands a $35mm income. Don't know of many MDs pulling that kind of compensation.

The notion of a meritocracy is pretty much bunk. Social mobility almost always takes place at the generational level, not within individuals' lifetimes. Wealth trumps income every time.

Dec 3, 2018

I legit think that the only path forward is taking risks and accept you'll lose sometimes.

Dec 3, 2018
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