Understanding rich vs poor mindset 1

Associate 1 in Other

So I unfortunately did not get a IB job straight out of college, but I do work for a F500 company. Most the other people doing this work at the company are not very ambitious, most complain about work and they are not paid enough. Meanwhile I come from a wealthy family and started working there, any opportunity they give me I work as much as I can they only let me work 50 hours a week currently but that has netted me a 20 % increase in pay from what my original offer was so well worth it. Yet for instance the person right beside me complains 24-7 about money but will not stay even a minute extra at work and collect that big overtime pay.

Just makes me notice how much peoples difference in mindset is.Due to me having money already given to me by my family I likely need money the least out of everyone in there, I just need experience. Yet I already do more work than most people in the office.

Comments (13)

Feb 22, 2020

Weird flex but ok.

    • 18
Feb 22, 2020

My initial comment is meant to be playful and jokeful. I agree it's annoying that people complain about their circumstances but do nothing about it. However, you should be careful with expressing these views as you come across as elitist and arrogant. I know this because I've made comments like this at work, it did not go well.

Feb 23, 2020

Id never do it in person people would get emotional and assume you are arrogant like you said.

Feb 24, 2020

ok I'll bite. what's the difference between a rich-mindset and a poor-mindset?

Feb 22, 2020

Thank you for your post - very insightful.

    • 1
Feb 22, 2020

Do u have chungus

Feb 22, 2020

Unfortunately many of us are salaried, so the only incentive to want to work longer hours is that hopefully our bosses will notice and give us a promotion. Then we can work even longer hours and the cycle continues.

Also most people who work at a F500 are most likely middle to upper middle class so I don't understand how they're considered poor.

Feb 23, 2020

Well not poor I suppose by the rest of the worlds standards. But I have some people near me who live paycheck to paycheck on 80k a year, have nothing in the bank ( less than 1k) and live in a trailer not payed off and a car not payed off. So way negative net worth, they always complain they cant do anything because they have no money. Many other special circumstances like this.

Feb 22, 2020

Ambition comes from within, it is produced through the burning desire to be successful that makes someone such as yourself want to work the hardest and work extra hours to be rewarded in compensation or a promotion. There are some limiting factors but generally speaking ambition transcends socio economic status.


Feb 22, 2020

Pretty sure actual poor people want that overtime...

Feb 23, 2020

I thought companies fired people that always juiced the overtime...

  • Analyst 1 in Other
Feb 23, 2020

I am in a similar situation, but I am fairly certain that my view is diffferent than most people.

BG - non-target > finance department of a small tech company
My pay is below market, I knew that coming in, but was okay with it bc it was communicated/implied that I willl have opportunity to take on more responsibities and as I "prove" myself, my pay will increase. I also knew that small companies usuallly dont have lot of money sitting around so I knew they weren't intentionally trying to screw me over.

But over the year and a half I ONLY stay longer than necessary if the work needs to be done ASAP. Many people think that I am not motivated, care about work, etc.

But this is how I look at the employer employee agreement (implied ofc.)
-above market pay - facetime AND quality work from employee
-market - facetime OR quality work/results from employee; employer gets to pick
-below market - same as market, expect employees preference matters more (or should); OR there is some other major factor (like working at a MF out of undergrad)

For me, since the promises of taking on more responsibilites turned out to be false, I leave as early as possible.

However, I wouldn't say I am not motivated or not up for doing the "b*tch" work. I leave early, but its so I can go network or study for the CFA or do something else to furthur MY CAREER bc its obvious that my firm does NOT GIVE A SHIT about my career progression.

OP - I understand where you are coming from and I also don't like ppl that complain and not do anything about it. But one thing you have to recognize is that the idea of employer loyaty is dead. It might have been the case >20 years ago when employers had the power, but now its more balance (i.e. its a two way street - employer better care about their employees if they want loyalty.)

    • 1
Feb 23, 2020