There’s this guy I know from college who was hired as a credit analyst for a big bank right out of college. I’ve seen he’s had a few promotions now (4 years later). And what I have a hard time processing is the fact that I did this guys homework in college (I was a tutor), he was the guy who never opened a book and rarely came to class. He came from an incredibly wealthy family. He never acted like a douche because he was a rich kid (rich kids exist, I get it, life’s not fair. But if you do come from a rich family, at least be a chill dude and fun to be around - which he was, he did check that box). But when I see life rewarding someone who barely tries at anything, I can’t help but become cynical. Guy’s driving a nice BMW, has a totally hot gf, homeowner, you name it. I don’t have those things, but I know I’m busting my ass. There’s some objective evidence I can offer to support that - I have recieved 2 ‘spot’ bonuses in the last quarter (above my yearly bonus. So, I’ve recieved 3 bonuses in the last year total. And, my boss has to go to bat for me to get those approved). And I get more and more responsibility in my role each day. So, the problem I’m having is, I don’t know what it takes to be successful in this industry. Doesn’t that guys work ethic reflect in his work? Doesn’t his boss see what I saw too? I doubt people just change after college and become a super hard worker.
I had to land my job myself, my parents offered no help. Is it even worth trying in this industry if you have no connections? The analysts on my companies due diligence team (#fintech) say I have always given strong interviews with them, but that they unfortunately hired the more qualified candidate (which they did, I get it, that was a fair decision). And there’s a few gals here who always refer me for positions outside the company, but I always lose the job to a more qualified candidate.
What’s the answer to all of this? I don’t want to just quit and become a plumber, I don’t even care about the CFA program anymore - but unfortunately I’m in too deep to quit right now, and no one else I know is willing to pay me this same salary to do a different job.
Ah shizzle dude… don’t be mad… life probably looks great for him when you scroll through his facebook and linkedin account, but reality is, he prob has big problem coz his Mrs is a greedy money grabber, he’s got a 3 inch penis when erect, and his parents call him everyday asking him to move back home…
The grass always appears greener on the otherside man. I know that too…
Just focus on you’re own goals of passing you’re exams, getting paid good bonuses and getting laid.
Here is how I look at these situation, the kid is rich, so he has some natural advantages. However, I wouldn’t completely discount the guy just because you did his homework; I have seen tons of people who are not book smart, yet very successful at business dealing. He could be one of those guys who is very good at relationship building (nice way of saying playing office politics) at work. At beginning of my career, I am just like you; feeling life is unfair after witness people around the office drive nice cars, have higher income and yet doesn’t know how to even open an excel sheet; later on, I begin to realized that those people DO have other marketable skills that allowed them to command their position within the firm. My advice is that don’t just look the bright side, maybe the guy is doing something right; given that you did his homework, you can leverage that to get to know him better and maybe develop a relationship with him, who knows, maybe he can even share with you how he got his promotions. Good luck!
im friends with a lot of rich millenials and i can tell you they have real unfair advantages in terms of acquiring positions or businesses. most of them are very unreliable, but they do provide good networking opportunities. they do work a lot and they usually dabble in a lot of differnet things and are all over the map. they usually dont want to party, but when they do party, they throw down big.
anyways the way to befriend them is to provide value. knowing how to have a good time by drinking is pretty important. so you need to know how to holler at chicks. be good at something they have interest in whether its sports or dota/fortnite. be their goon and support them in shit talking. their friends need to like you as well so you need to all around well likable. know a lot of information, that isnt just related to investment stuff. they are interested in the investment stuff, but they prolly judge the info on investment stuff based on other info you have on general stuff.
yeah come work in midtown in NYC and you’ll see plenty of these folks. Now, to be fair not all are douche bags and not all are dumb. It’s the few that are super loud, flashy, entitled that get our attention and easy for us to label “them” as such.
Very similar to cops…it’s the 1% of the cops that have ulterior motives or other agenda that gets the rest - 99% - into trouble and labels.
I see what you’re saying, and I tried to mention this in my first post. I actually did say the guy wasn’t a douche bag - and has some genuine good qualities about him. Never once acted like an entitled piece of garbage. I’m more pissed about the fact life is rewarding someone who I know to be lazy on the inside and out. THAT’S what I can’t process.
Most millionaire people in finance around me (basically everyone) do not come from rich families. Sure, if you’re parents are bigwigs, you’ll get an advantage, especially if you’re trying to go from normal affluent (5-10 million) to rich (100 million). But there’s nothing stopping you from getting to the first tier if you’re actually good. If you don’t make it, you probably just weren’t that good.
whats teh average age in finance where they make their first mil like in nw? what age did you guys hit it? i think after your first mil, the law of doubles apply. a cagr between 7% to 20% per year will double your assets every 4 to 10 years.
say you are at 1 mil at 35 and die at 80. you have 45 years. say you double it every 5 years. thats about half a billion by the time you die. and so in conclusion:
A random thought, if you want high returns, you may have to take some risks beyond what normal people would be comfortable with. I don’t think you’re beat or much come close to someone wealthy if you play it safe and do what everyone else is doing. You have to recognize opportunities and take full advantage.
You’re being a bish to put it frankly. Put your head down and keep working or give up and live forever in mediocrity unless you get really really lucky. People with money start a few laps ahead of you in the race, so you have to be extraordinary for a long time to catch up. Simple as that. Obviously easier said than done.
edit - When i say “put your head down and work” i dont mean just stay where you are and bust your a$$. I mean networking + hardwork + learning + looking for opportunities non stop + etc…