private equity VP
= Win at life
2 years in investment banking -> 2 years in private equity -> 2 years HBS ->
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No step here is too difficult. You just need to be have:
[1] IQ>120 & IQ<145
[2] Go to top 20 school in US
[3] be reasonably committed to this goal at age 19 to secure junior year IB internship
And that's it.Which of the following is the most difficult step in this ladder?
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No step here is too difficult. You just need to be have:
[1] IQ>120 & IQ<145
[2] Go to top 20 school in US
[3] be reasonably committed to this goal at age 19 to secure junior year IB internship
And that's it.Which of the following is the most difficult step in this ladder?
Wendy to a top 20 school by my iq is higher than 145, I got confused by junior year and started painting and writing, when I was trying to get a job in banking it was too late, anyways I think it'd have killed my creativity
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No step here is too difficult. You just need to be have:
[1] IQ>120 & IQ<145
[2] Go to top 20 school in US
[3] be reasonably committed to this goal at age 19 to secure junior year IB internship
And that's it.Which of the following is the most difficult step in this ladder?
Wendy to a top 20 school by my iq is higher than 145, I got confused by junior year and started painting and writing, when I was trying to get a job in banking it was too late, anyways I think it'd have killed my creativity
*went
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LJL. Let's look at some numbers here:
http://www.hbs.edu/recruiting/data/Pages/detailed-charts.aspx#industry
The absolute financial cream of the crop at HBS are making ~280k all-in straight out of school. That's a f**kload of money, yes. But it's not "f**k you" money. It's ~30% more than a top-tier econ consulting shop will pay a finance HRM straight out of school, with *at least* 30% more hours. Trust me, the PE MFs work you *hard*--they exist to do massive deals, so they essentially work ibanking hours. It's not at all clear to me that a PE VP job is preferable to a top industry placement, and I think for the modal person the PE job would be strictly dominated by your average top 40 finance positions.
Of course, some people really love the thrill of the chase when working 18-hour days to close a multi-billion dollar deal. And if you're one of those people you should probably be kicking yourself for doing a PhD. But if you're not then shut up and go back to your research :)
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so enjoy the thrill of being a little bictchboi of some insane PI on your 4th postdoc when you are 39
LJL. Let's look at some numbers here:
http://www.hbs.edu/recruiting/data/Pages/detailed-charts.aspx#industry
The absolute financial cream of the crop at HBS are making ~280k all-in straight out of school. That's a f**kload of money, yes. But it's not "f**k you" money. It's ~30% more than a top-tier econ consulting shop will pay a finance HRM straight out of school, with *at least* 30% more hours. Trust me, the PE MFs work you *hard*--they exist to do massive deals, so they essentially work ibanking hours. It's not at all clear to me that a PE VP job is preferable to a top industry placement, and I think for the modal person the PE job would be strictly dominated by your average top 40 finance positions.
Of course, some people really love the thrill of the chase when working 18-hour days to close a multi-billion dollar deal. And if you're one of those people you should probably be kicking yourself for doing a PhD. But if you're not then shut up and go back to your research :) -
Yeah but econ consulting is really boring with no exit opps
LJL. Let's look at some numbers here:
http://www.hbs.edu/recruiting/data/Pages/detailed-charts.aspx#industry
The absolute financial cream of the crop at HBS are making ~280k all-in straight out of school. That's a f**kload of money, yes. But it's not "f**k you" money. It's ~30% more than a top-tier econ consulting shop will pay a finance HRM straight out of school, with *at least* 30% more hours. Trust me, the PE MFs work you *hard*--they exist to do massive deals, so they essentially work ibanking hours. It's not at all clear to me that a PE VP job is preferable to a top industry placement, and I think for the modal person the PE job would be strictly dominated by your average top 40 finance positions.
Of course, some people really love the thrill of the chase when working 18-hour days to close a multi-billion dollar deal. And if you're one of those people you should probably be kicking yourself for doing a PhD. But if you're not then shut up and go back to your research :) -
For a striver who craves external validation, it is not a bad path. However, this is not a particularly creative path, so the returns tend to be low relative to the hours and talent required. There is lots of competition from similarly qualified people.
As you get older, you should require less external validation. Then winning at life means something more than a good job title. I've seen many successful people say something to the effect that winning at life is getting up and spending the day how you please. For me, having a sense of purpose and a warm family are also essential components of winning at life.
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Well, it depends. Jobs was a boomer dropout - the guys was a killer. Dalio was a boomer pathfollower - the guy is still slaying it.
I do agree that there must be a healthy balance between external and internal validation.For a striver who craves external validation, it is not a bad path. However, this is not a particularly creative path, so the returns tend to be low relative to the hours and talent required. There is lots of competition from similarly qualified people.
As you get older, you should require less external validation. Then winning at life means something more than a good job title. I've seen many successful people say something to the effect that winning at life is getting up and spending the day how you please. For me, having a sense of purpose and a warm family are also essential components of winning at life.