My graduating salary is more than anyone in my extended family has ever made

[StageLeft]

Considering I have several MDs in my family and a business guy who's made more than any of them, I have known for years that I would be unlikely to break any records.

 

[FlyLice]

Originally posted by: jEct2

Originally posted by: Jumpem

Originally posted by: jEct2
awesome...

I'm aiming for the same thing. My cousins and I are the first-generation college graduates in the family. With me being the oldest, I'll sure make them proud... I just need a job now...

How muc u making?

About average for what BSCS salary surveys give. Maybe a touch higher.

No one in your family make more than $45K?

ROFL

Shiet, I have a long ways to go before I hit in a year what my dad did in 2003...I would have to 10X my income. But then of course I infinitely surpassed what he did in 2004 (did his taxes, his income = $0 hahah)

 

[Jumpem]

Originally posted by: daniel49
can I have the 20 bucks you owe me now

I owe you money?

 

[maziwanka]

your post is excellent and makes me happy OP.

 

[Jumpem]

Originally posted by: maziwanka
your post is excellent and makes me happy OP.

Thanks!

 

[Playmaker]

Originally posted by: cchen

Originally posted by: Albis
300k with an MBA is pretty high but it's beleivable.

I know someone from Sloan Business School with an undergrad degree in Chem E and Fiance signed for 100k with bonus from Deutche HK

no, its not really believable. you could only make that much coming out an MBA if you're working in private equity for a company like KKR or Silverlake Partners. Usually, only 1 student from each graduating class ends up starting at such a high salary.

It's not even believable at KKR, Silerlake, or even Carlyle (for all your liberal, Michael Moore-lovers). Those top-tier PE firms don't pay much more, often less when bonuses are considered, for the first 1-3 years out of B-School than IB does. It's 4+ years down the road when the carry you build up becomes available as the firm exits investments it has made since you started that one begins to make serious money that bests even the most successful IBankers.

I can only think of three reasonable (if you can call them that) situations in which someone could make $300k from their job out of B-School...Amazing luck at a hedge fund (or investing on your own, for that matter), starting your own business and getting insanely lucky, or working for Daddy's company and receiving a $300k salary...

 

[tami]

Originally posted by: 91TTZ

I have a computer job but I realized a while ago that you're never really going to be rich or successfull if you're working for somebody else. You need to be the employer, not the employee.

agreed, but this could be a big problem as well.

my friend had a high-paying job at wyeth. he was respected by everyone and ultimately became the boss of his department. at that point, he decided it was best that he not work for anyone anymore and he quit to start his own company (career counseling). it didn't work for him and he couldn't afford to stay where he was living so he moved in with the folks. this guy is in his mid-30s.

 

[cchen]

Originally posted by: Playmaker

Originally posted by: cchen

Originally posted by: Albis
300k with an MBA is pretty high but it's beleivable.

I know someone from Sloan Business School with an undergrad degree in Chem E and Fiance signed for 100k with bonus from Deutche HK

no, its not really believable. you could only make that much coming out an MBA if you're working in private equity for a company like KKR or Silverlake Partners. Usually, only 1 student from each graduating class ends up starting at such a high salary.

It's not even believable at KKR, Silerlake, or even Carlyle (for all your liberal, Michael Moore-lovers). Those top-tier PE firms don't pay much more, often less when bonuses are considered, for the first 1-3 years out of B-School than IB does. It's 4+ years down the road when the carry you build up becomes available as the firm exits investments it has made since you started that one begins to make serious money that bests even the most successful IBankers.

I can only think of three reasonable (if you can call them that) situations in which someone could make $300k from their job out of B-School...Amazing luck at a hedge fund (or investing on your own, for that matter), starting your own business and getting insanely lucky, or working for Daddy's company and receiving a $300k salary...

maybe real estate investments as well. however, i do know that 1 grad from columbia b-school last year made upwards of 300k (from his survey)

 

[maziwanka]

Originally posted by: cchen

Originally posted by: Playmaker

Originally posted by: cchen

Originally posted by: Albis
300k with an MBA is pretty high but it's beleivable.

I know someone from Sloan Business School with an undergrad degree in Chem E and Fiance signed for 100k with bonus from Deutche HK

no, its not really believable. you could only make that much coming out an MBA if you're working in private equity for a company like KKR or Silverlake Partners. Usually, only 1 student from each graduating class ends up starting at such a high salary.

It's not even believable at KKR, Silerlake, or even Carlyle (for all your liberal, Michael Moore-lovers). Those top-tier PE firms don't pay much more, often less when bonuses are considered, for the first 1-3 years out of B-School than IB does. It's 4+ years down the road when the carry you build up becomes available as the firm exits investments it has made since you started that one begins to make serious money that bests even the most successful IBankers.

I can only think of three reasonable (if you can call them that) situations in which someone could make $300k from their job out of B-School...Amazing luck at a hedge fund (or investing on your own, for that matter), starting your own business and getting insanely lucky, or working for Daddy's company and receiving a $300k salary...

maybe real estate investments as well. however, i do know that 1 grad from columbia b-school last year made upwards of 300k (from his survey)

there are a lot of pompous jackasses at columbia

 

[Playmaker]

Originally posted by: cchen

Originally posted by: Playmaker

Originally posted by: cchen

Originally posted by: Albis
300k with an MBA is pretty high but it's beleivable.

I know someone from Sloan Business School with an undergrad degree in Chem E and Fiance signed for 100k with bonus from Deutche HK

no, its not really believable. you could only make that much coming out an MBA if you're working in private equity for a company like KKR or Silverlake Partners. Usually, only 1 student from each graduating class ends up starting at such a high salary.

It's not even believable at KKR, Silerlake, or even Carlyle (for all your liberal, Michael Moore-lovers). Those top-tier PE firms don't pay much more, often less when bonuses are considered, for the first 1-3 years out of B-School than IB does. It's 4+ years down the road when the carry you build up becomes available as the firm exits investments it has made since you started that one begins to make serious money that bests even the most successful IBankers.

I can only think of three reasonable (if you can call them that) situations in which someone could make $300k from their job out of B-School...Amazing luck at a hedge fund (or investing on your own, for that matter), starting your own business and getting insanely lucky, or working for Daddy's company and receiving a $300k salary...

maybe real estate investments as well. however, i do know that 1 grad from columbia b-school last year made upwards of 300k (from his survey)

Yeah, I would include that under investing. But even there, entering AND exiting an investment in under a year out of B-School that gains your over $300k is very unlikely. In any event, RE investment/development is the route I hope to take in the future.

And the upper range on salary surveys at business schools, at least from what I've heard and the experience I've had at my own school, are generally students going to a family business. And to the other poster, yes, they are often pompous jackasses. I guess knowing that all you have to do is pass and you get to go work at daddy's hedge fund tends to do that to people (I know someone like that)...

 

[xospec1alk]

Originally posted by: maziwanka
there are a lot of pompous jackasses at columbia

there are a lot of pompous jackasses at most business schools...its almost a requirement. hehe

 

[abc]

Originally posted by: moshquerade

Originally posted by: Jumpem

Originally posted by: jEct2
No one in your family make more than $45K?

Nope, lets see:

Dad: used to make around $35k, now it's closer to $20k.
Mom: around $15-20k
Sister: around $15k
Uncle: unemployed
Aunt: last I heard was $30k
Cousin1: $35k
Cousin2: not very much

looks like they'll be looking to you to support them

not necessarily... the dollar goes further than compared to living in NYC.

 

[Papagayo]

My little sister will be making more money than anyone in our family.. She will be done with her Fellowship in May. Her speciality is Gastro..

 

[jpeyton]

My extended family is mostly doctors or engineers (the men, anyways). Old school.

Kind of a hard act to follow.