Rank: Member Joined: 1/22/2011 Posts: 322 Location: Chicago, IL, USA
|
|
|
|
Rank: Veteran Joined: 7/22/2011 Posts: 1,325
|
Hey Rwathpuro,
my thinking is always shoot for the stars, I know chances of me first getting into Goldman, then getting $622,000 are negligible, but even if I get the $100,000 starting salary, thats GOOD money!!! What other industry can you get that kind of money as starting salary. They can give me all the stress they want, if it becomes too much, I work for 5 years and bail. The top investment bankers make millions a year but still demand more coz they know they can go to the next Investment bank and get their demands. Thats what happened at Salomon brothers. I would still rather work in Wallstreet and possibly retire in 5 years, than work my whole life.
Jason, I would rather not say which school coz there's like 2 Kenyans here, my revelation of said school would be tantamount to my revealing my identity to thousands of strangers. I saw your critique of high tuitions elsewhere, lets just say the big companies pitch tents to recruit, though Goldman has not as yet pitched.
|
|
|
Rank: Veteran Joined: 6/2/2010 Posts: 1,091
|
my, my the idealism of youth!!
I passed up the chance to go to LSE and have never regretted it.
That sort of investment just will not pay back if you do not get a scholarship. MBAs are waaaaaaaaaaaaaaaaaaaaaaaaayyyyyyyyyyyyyyyy overrated. So are top tier schools.
|
|
|
Rank: Veteran Joined: 7/22/2011 Posts: 1,325
|
2 cents, so what did you do instead?? People, give alternate scenarios, dont just state ati I passed up on it, how did you make it instead?? That way we can quantify the opportunity costs.
By the way food for thought, most of the students at said school are Asian, not American Asians, but continental Asians from India, China, Korea etc on student visas. I'm guessing that they are cosigning for each other in order to pay the steep fees, though I heard their governments also give scholarships. If Kenya wants to be at all competitive, it should consider sponsoring its brightest to these schools. 10 years ago India was very similar to Kenya, now its in the BRIC category, they are aggressively investing on a good education.
|
|
|
Rank: Member Joined: 4/2/2011 Posts: 629 Location: Nai
|
Nabwire wrote:Hey Rwathpuro, great insights there. Looked at the links, I had actually seen a documentary about college students being given money not to attend college, BUT you had to be in a very competitive school already. Nobody is giving those deals to people in mediocre schools. I hate to sound elitist but its the truth. I should apologize for generalizing Kenyans, actually Kenyans fare far better than my friends from a West African country that I will not name, who consider that someone with a CNA license has it made. So my apologies, I was just trying to make a point. About average salary on Wallstreet, note that I said average, meaning the mean of the highest paid and the lowest paid. Plus it doesnt hurt that the mean salary of my dream company to work for is $622,000. http://www.boston.com/bu..._employee_makes_622000/ Suddenly shelling out $80k doesnt sound that foolish right? Ofcourse not everyone who goes to an Ivy league will make it to Goldman, but I love to dream, and dreams become reality, sometimes! Thanks for your advice, I have a few months to ponder this through. I know at least 3 people who went to the local universities, worked in audit firms here in kenya and ended up at the ivy league schools that you are talking about for their MBAs. My assumption has always been that they either paid their way or scored high in the GMAT. My point is that if that is what you want, it is quite easy to achieve. A friend did his BA at the UON, and left for an MA at Bowling Green. He dropped midway to do his CPA exams which he completed and joined Deloitte in Illinois. 4 years down the line, he was attending the same business schools that you want to attend. There are many ways to go about it and btw networking is a talent that not many people have. The advice advanced by others to live within your means for now and work your way up to achieve your goals is quite sound. You may want to look for Kenyans in Goldman and JP Morgan to get a first account of how it is to work in those firms. From all accounts, you will have to put in extremely crazy hours and be prepared to burn out in 2-3 yrs if you are to earn the kind of money you are expecting. Some people thrive in that kind of environment but others never recover long enough to take charge of their lives. It also appears that the days of human traders are long gone. A PHD in maths + programming looks like the surest ticket to wall street.
|
|
|
Rank: Veteran Joined: 7/22/2011 Posts: 1,325
|
Thanks for your input Accel. I dont think I explained myself well, I am already in the US pursuing my undergrad, so going back to Kenya, finishing the undergrad and coming back to the US is out of the question. Thats the reason why i'm at a crossroads, if I leave the US, I dont plan on coming back for school, anyone who has schooled in the US knows how tough life is for a student. Thats why I will either finish my schooling, get a good job then eventually head back to Kenya, or just head back to Kenya without the diploma, those are the choices on the table.
About Goldman, I thrive under pressure, I dont think they can put me through more stress than I have already been through as a student. Plus worst case scenario, if I burn out, I still would have Goldman freaking Sachs on my resume, its a win win!!! Thanks but im not changing my major, Finance all the way.
|
|
|
Rank: User Joined: 5/3/2011 Posts: 559
|
Nabwire wrote:Thanks for your input Accel. I dont think I explained myself well, I am already in the US pursuing my undergrad, so going back to Kenya, finishing the undergrad and coming back to the US is out of the question. Thats the reason why i'm at a crossroads, if I leave the US, I dont plan on coming back for school, anyone who has schooled in the US knows how tough life is for a student. Thats why I will either finish my schooling, get a good job then eventually head back to Kenya, or just head back to Kenya without the diploma, those are the choices on the table.
About Goldman, I thrive under pressure, I dont think they can put me through more stress than I have already been through as a student. Plus worst case scenario, if I burn out, I still would have Goldman freaking Sachs on my resume, its a win win!!! Thanks but im not changing my major, Finance all the way. Don't listen to all this people, great schools give you big opportunities and a foot into the door of great companies, walk into these big companies and see if no-name school is represented!
|
|
|
Rank: Veteran Joined: 7/22/2011 Posts: 1,325
|
Sawa, basi loan me that money, I promise ni A's all through!!! Hata naweza kupatia 5% stake in my future earnings. By the way I googled triangular arbitrage, mtu wa ubongo za nguvu hivyo na you fell for advice from domo domos?
|
|
|
Rank: Chief Joined: 1/13/2011 Posts: 5,964
|
@nabwire lol. I opted to learn and did my LLB right here. That's my profession but capitalism is my occupation.
|
|
|
Rank: Chief Joined: 8/4/2010 Posts: 8,977
|
Interesting to see that some people want to work for the squid aka goldman sucks... http://t.co/MeddvL9
http://www.youtube.com/watch?v=L_0Y8OCAgk8
http://www.fhfa.gov/Default.aspx?Page=110 - A parade list of mortgage fraud firms... Why would one want to work for such firms... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
|
|
|
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|