The Pursuit of Baller Status

Don't know man, I've always been a baller

You can cruise to work in a 760Li as a 1st year analyst....it's called Leasing. Poor man's luxury.

All jokes aside, I saw an Amex centurion card for the first time this weekend and that's definitely certified baller status in my book.

when you have ESPN dedicate an hour of their schedule to announce your career plans for the next year.

Ask people on this site and you'll get a lot of different definitions - private equity, private parties, private jets, private dancers, the whole package. But to me, the definition of having "made it" is when you have the ability to say "fuck it, I'm out" and walk away - to go live your life the way you've always wanted to according to your own rules, start a company or a charity and not worry about making money, take a vacation, take a nap at 1pm, take some time with your family. That is "baller status" - the only problem is nobody ever realizes it until they've tried everything money can buy.

ahhh black cards mean nothing. They are a total waste of money. I got an application for one in the mail as I have excellent credit, but why would I throw away $500 a year in annual fees? Its the ultimate "look at me I'm a total douche, let me throw away $500 a year on something that means absolutely nothing to try impress women/whoever."

At least a car you can enjoy!

I consider baller status at the point where you no longer even consider money when making a decision; you think about everything in terms of time.

G4 pilots on a first name basis

^^^^^^^That's the whole point of the Black card only being sent to REAL rich people, not credit limit rich. Do you really think people like Pre-divorce Tiger Woods or Cristiano Ronaldo complain about a $2500 Annual fee? That fee gets filed under F-U money.

When you have servants carrying you everywhere on a gold throne.

^^^ you can have servants now.....they are called SAs.

coffeebateman:

How do we monkeys define 'baller status'?

When we make analyst and get that first bonus? When we make VP? When we make KKR? Or maybe it's when we realize we're wearing a $25K watch and cruising to work in a BMW 760li?

Just my 2 cents and keeping in mind I'm not working on the Street yet, but from everything I've seen and the attitude conveyed by people already there, the "baller" is there before one even actually makes it. It's like having a pair of brass ones, you've got to have 'em else you won't even get on the Street, let alone stay there for long, IMO.

-N.

To get centurion you "only" have to spend 250k yr on your AMEX. While by no means chump change, there are many non-"ballers" (kill yourself for using that term, ill do the same) who could do that.

When you can get your marriage in the NY Times?

Or when you can send your kids to Phillips Exeter?

"I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. ... A player."

Capt K - I agree with your statement on what it means to "make it" but to me that is slightly different than being a "baller". I strive to make it as you say. Along the way I will have nice things and some (non-finance types) would possibly think I'm a baller, but I don't have a real desire to own 4 lambos and wear ridiculous jewelry.

On a more important note, Am I the only one who doesn't care for the 7 series bmw? Cost aside, I actually like the 5 series more. my VP (F500 Corp, not IBD) has an M5 and I'm a big fan.

Baller status is a mind set. You don't need money to be a baller. I have way more respect for a lot of people I know with modest income than some very rich people I know--and its because they carry themselves with confidence and act in a dignified, classy manner in any situation. You're a baller when you don't give a shit about becoming a baller.

for me because ill never see wall street. baller status will be achieved when i no longer have debt or a mortgage or student loans.

Baller Status is when you achieve a set highbar goal. This could be as simple as getting your GED when your mentally retarded to buying your first Gulfstream. In terms of when you consider someone else to be baller...it is anyone who is better than you. If you only have a GED, baller would be a college education. If you only make 50g's a year, baller would be 100g's a year. Its a completely relative term that has not actual definition and never will. My sense of baller is completely different from anyone elses. I have been considered baller by many but don't quite consider myself baller. I will become baller when I accomplish the "unachievable" goals that I have set for myself, in other words, I become baller in my own mind when I am satisfied with my life.

Which by the way is never, because to be satisfied in life is to no longer strive to be better. AKA baller is always an unattainable goal personally and can only be inacted on an outside basis. You can be considered baller by others but should never consider yourself baller. To consider yourself baller is to stop trying to achieve a higher goal that would theoretically make you baller. When you accomplish that goal you set up another goal to achieve, thus increasing the ante that will make you baller in your own mind. You can consider yourself cool/welloff but to consider yourself baller is to stop trying to achieve and essentially degrade into the subsect of human being known as dicks or douches.

Baller status is 7 figures

In regards to the "black card". There are actually ways to "cheat" your way to one (or at least there were before this whole credit crisis).

1) If you own a business or were part of a small company many times you could just place your business charges on an AMEX platinum card. This easily got you over the 250K limit.

2) Some people (those that are obsessed with status) would buy a ton of google ads and just spend all day clicking on them just to break even. They would then reach the 250K limit and then turn their apartment upside down to find the 5K initiation fee + 2.5K annual fee.

This doesn't happen as much anymore, and even before the credit crisis AMEX would occasionally decline these "cheaters" due to poor credit or insufficient liquid assets (usually $1M+ are required in cash, stocks, etc).

The one thing I never understood about the card is that if you have a ton of money, then all of the "perks" are worthless. The card gives you airline status, but I'm guessing that you are either flying private or you can afford a first class ticket and probably have status on the airlines already.

The card gives you a personal concierge, but from what I hear they are about as useful as the Platinum Card concierge (read: not very...although they are nice) and hopefully at this point in your career your business life is taken care of by your assistant and your travel is arranged by a travel agent which will give you the same benefits as the platinum or centurion card (virtuoso agents will usually get you room upgrades, better rates, and free breakfast at luxury hotels).

I guess it makes you a baller if you spend $2,500 a year plus your $5,000 initiation fee but I still don't get the appeal of the card.

in addition to said attributes, must have twenty inch blades on the impala

Black Card -

In my group (top BB), every MD and many VPs can afford/qualify. Not one has it. On the flip side, every ICAP/GFI/Phoenix...broker, who has ever taken me out, has had one. Figure it out

I think for the most part "baller status" is the guy you see with more money, better clothes and cars, women, etc. then you. They appear to be 'baller' yet in their own mind they probably see someone else as being 'baller.'

I have some income tiers set-up in my mind at $100k, $250k, $500k, $1mm that are like steps to my baller pedestal. Every time I move from one step to the other, I get a little closer.

Keep in mind that this is based on my goals now, but will likely change when I meet a good chick (probably double if I was being realistic) and eventually have kids.

Right now I want to earn enough to drop $50k on a car, then $100k, then $150k. Its a sliding scale because I don't think you have to have $1b to be a baller, you just have to live comfortably and have fun inside of your means.

With that said, if I had a blank sheet of paper I would have to say that most people define baller status as F.U. money. Do what you want, when you want (within the confines of the law...mostly). That means private jets, traveling, exotic sports cars, AMEX black card, the whole nine yards.

Like someone said previously, you are a baller when you are only concerned about your time, not the cost, not the money...just make it happen. That is also a great description of F.U. money.

P.S. the black card isn't intended to be a value...it's intent is to provide instant status to the person holding it. That is why so few are issued. The person holding doesn't care about $2,500 and they don't really care if it helps them get an upgrade, because chances are, they are price shopping. They are shopping for convenience (time).

Regards

Damn WSO hit the new low. Freaking 3.370 × 2.125 in piece of plastic, seriously? Wow, just wow.

If showing-off in front of cashiers who net $30-$50k/year defies your baller status, then I'm truly sorry.

baller has nothing to do with how much money you make.

"A man may fish with the worm that hath eat of a king, and eat of the fish that hath fed of that worm." Shakespeare

1. reach my professional goals by the set benchmark ages.
2. am actually known in the industry as one of the experts in the field (e.g. when my name's mentioned as an MD people would want to work with).
3. have wife and kids who are happy.

All 3 of the above and I'm baller. 2 of the above and I'm successful. 1 of the above and I'm normal. None of the above and I'm a failure.

how are you going to be a baller MD and have wife and kids, you can have a gold-digger lol

Most rich men don't have happy wives bc they don't marry real women, they marry trophy women. The marriage is like a 3 yr Interest only mortage and neither person counts on the ugly reality kicking in after 3 years: You married a common jackass bc she's hot. She married a prick bc she can go shopping at Bergdorf every Sat. Looks fade away and the shopping gets old.

You are officialy a baller when your accountant is paying all your bills for you and you don't worry about making any kind of payments.

Baller status is achieved when your resume becomes obsolete. That is to say, when you no longer need to explain who you are in a job interview (because they already know).

^^^^At that point, you don't even interview. They will invite you out for dinner twice and it's a done deal. I highly doubt that people like Andrew Hall or Pierre Henri Flamand have to sit through 5 rounds of interviews lol

The day everyone knows my name is the day I stop working. Retired at 35 and still living the same lifestyle as if I were working.

When you can buy a brand new bentley or rolls royce without any loans

Shelley's Ozymandias. When you understand this and consequently stop seeking material and ego-gratifying stimulation, you realize that baller status is achieving levels of happiness and personal satisfaction that most people stuck in the rat race ultimately yearn for. Along with this comes the swagger and confidence of knowing that your own life is better than the next person's - but not caring - and instead only focusing on your passions and holistic contentment.

--

It's when wealthy enough to not care what anyone thinks and I do as I damn well please. It's the Blank you and the forse you rode in on too, level of wealth. That is Ballin'

banging the MD's wife

billion or bust.

Baller is when you have completely removed the word "money" from your dictionary. See no $$$, hear no $$$, speak no $$$.

=

Baller.