WHO MAKES 6 FIGURES?

[chiqga]

Originally Posted by wawaweewa

Originally Posted by VirgilMalloy

Originally Posted by wawaweewa

Originally Posted by VirgilMalloy

Average MBA Starting Salaries at the Top Business Schools

1. Stanford $133,000

2012, ship it.

Not after this bottoming out.
MBA's have finally proved what they're worth.

1. If the economy is still trash in 4 years, y'all got a lot more to worry about.
2. You might have a point if I did banking or consulting or some nonsense like that, but thankfully I don't.

Everybody will be worrying.

Most MBA's go into some type of financial services company because most have backgrounds in finance/accounting/economics. I'd be more than willing to bet that the average of $133k was made up of quite a few Hedge Fund/PE earnings that netted MBA grads well over 100k their first year out. Averages can be misleading.

MBA's are glorified B.A. in Communication degrees. Most old school execs know it too.

It kind of depends how old one is when he gets the MBA.
A 25 year old kid with an MBA (no matter where its from) is still a 25 year old kid with no real experience.

Question out of curiosity, by no means am I trying to argue, but don't many statistics disregard outliers? I don't think people at hedgefunds with starting salaries in the millions or a few 100k are included in this average.

 

[pushak513]

I think 6 figures is reall relavant to where you live. the OP lives in KY right across the water from me. 100K around here will do alot for ya. In a biggercity NY LA or somthing its not enough to get by. I don't but I have a few co workers who make 100K or better. we work in a stainless steel mill.

 

[lazyj10]

100k not enough to get by in LA/NYC? Hardly if you live within your means.

 

[kickmatic23]

Originally Posted by lawinnn

I'm gonna be a teacher, so not in my lifetime.

NYC teachers after about 30-35 years bring in about 100k

Originally Posted by SpringfieldXD

i'm actually looking into being a NY garbage man now... i think i can deal with the smell for a decent salary...

my boy was a teacher and quit to become a sanitation worker.. it can be a very physical job but a lot of opportunities to get night differentialand overtime.. great job tho overall

 

[wraith aka invincible]

Originally Posted by LazyJ10

100k not enough to get by in LA/NYC? Hardly if you live within your means.

100k is very doable

 

[shoehead117]

Originally Posted by Ricardo Malta

^prob around 80... it sucks but its great experience. technically 1st 2nd and 3rd year analysts dont make bonuses based on how many deals the group closes because they aren't experinced enough to be leading deals, just doing all of the *****work. at least thats what management says...

Great experience in what sense????? I did mergers and acquistions at Goldman for a year and a half and it was the worst. I got no sleep, I damn near lived at the office, and it was killin' my social life on the weekend. Yea, coupled with an MBA, it ultimately led to a spot within a Hedge Fund but I probably would have done things differently if I could.

And good luck thinkin' you're gonna get that bonus you're talking about

All that *****work you'll be doing won't be as lucrative as it was 3-4 years ago buddy.

good info in this post. 100k is nothing for someone with a high mortgage payment/kids. alas, smart folks who make 100k throw whatever they don't spend on bills into investment accounts. that's where millionaires are bred
Well if you're speaking for someone who has dependents and multiple assets then of course you're going to be living check to check. Speak for yourself though. I'm 25, single, 3 cars, an apartment in Boston, condo in Hartford and I'm livin' comfortably. It's just about how you manage your %$$$. My condo I currently rent out to college kids and my apartment in Boston I rent out one of the rooms, so I'm recouping money monthly.


Good investment. Having that cash flow on top of your salary is definitely living comfortably. I'm assuming you make over 100k from your salary alone?

 

[virgilmalloy]

Originally Posted by wawaweewa

Originally Posted by VirgilMalloy

Originally Posted by wawaweewa

Originally Posted by VirgilMalloy

Average MBA Starting Salaries at the Top Business Schools

1. Stanford $133,000

2012, ship it.

Not after this bottoming out.
MBA's have finally proved what they're worth.

1. If the economy is still trash in 4 years, y'all got a lot more to worry about.
2. You might have a point if I did banking or consulting or some nonsense like that, but thankfully I don't.

Everybody will be worrying.

Most MBA's go into some type of financial services company because most have backgrounds in finance/accounting/economics. I'd be more than willing to bet that the average of $133k was made up of quite a few Hedge Fund/PE earnings that netted MBA grads well over 100k their first year out. Averages can be misleading.

MBA's are glorified B.A. in Communication degrees. Most old school execs know it too.

It kind of depends how old one is when he gets the MBA.
A 25 year old kid with an MBA (no matter where its from) is still a 25 year old kid with no real experience.

1. Your MBA stereotype has some definite truth, however that's much more of the HBS/Wharton drone type than what you get from Stanford.
2. 90% of the reason I'm going is for networking
3. I currently work at a startup and turned down ~80-90k consulting/hedge fund jobs for dirt $ and decent equity in a company that I think is going to bereally successful. I also put in about 15 hours of poker a week (down from 30-40 last year) and am raising ~1/2m for my own start up which was going greatuntil the market crashed and has since been a complete @%%++.
4. Those numbers reflect SALARIES not INCOME. A vast majority of H/S/W grads pull in well over 100k, and those who don't are probably workign at startupsor taking pay cuts to do something interesting. Generally, the guys that you read about pulling in the millions are doing it all with bonuses etc.
5. 100k in SF isn't really ballin' anyway. You need to make like 60-70k just to break even imo.

 

[lazyj10]

Originally Posted by Wraith aka invincible

Originally Posted by LazyJ10

100k not enough to get by in LA/NYC? Hardly if you live within your means.

100k is very doable

Exactly, that's what I meant

 

[virgilmalloy]

Originally Posted by ChiqGa

Originally Posted by wawaweewa

Originally Posted by VirgilMalloy

Originally Posted by wawaweewa

Originally Posted by VirgilMalloy

Average MBA Starting Salaries at the Top Business Schools

1. Stanford $133,000

2012, ship it.

Not after this bottoming out.
MBA's have finally proved what they're worth.

1. If the economy is still trash in 4 years, y'all got a lot more to worry about.
2. You might have a point if I did banking or consulting or some nonsense like that, but thankfully I don't.

Everybody will be worrying.

Most MBA's go into some type of financial services company because most have backgrounds in finance/accounting/economics. I'd be more than willing to bet that the average of $133k was made up of quite a few Hedge Fund/PE earnings that netted MBA grads well over 100k their first year out. Averages can be misleading.

MBA's are glorified B.A. in Communication degrees. Most old school execs know it too.

It kind of depends how old one is when he gets the MBA.
A 25 year old kid with an MBA (no matter where its from) is still a 25 year old kid with no real experience.

Question out of curiosity, by no means am I trying to argue, but don't many statistics disregard outliers? I don't think people at hedge funds with starting salaries in the millions or a few 100k are included in this average.

See previous post. Equity/Stock/Bonuses/etc. are not calculated in salary figures and that's usually where the huge incomes come from.

 

[melomandnvnuggets]

How much does dirty make??? what does he do?? he seems like a smart person

 

[southzeztpdot]

lol @ 100k not being enough how you think the people in the projects live?

 

[feelmode]

The last couple years i have, this year doesnt look like im going to be even close tho

 

[cobra kai]

I'm making about 5 figures now, if we don't count the decimal point.

.... (work study)

 

[mvp07]

IB guy expecting to make that much right out of college huh?

you better be from a top 10 business school, high ranked, freakin genius ---> with a nice CFA score.... That is all I have to say.

 

[dbbabd]

Originally Posted by ShoeHead117

Originally Posted by Ricardo Malta

^prob around 80... it sucks but its great experience. technically 1st 2nd and 3rd year analysts dont make bonuses based on how many deals the group closes because they aren't experinced enough to be leading deals, just doing all of the *****work. at least thats what management says...

Great experience in what sense????? I did mergers and acquistions at Goldman for a year and a half and it was the worst. I got no sleep, I damn near lived at the office, and it was killin' my social life on the weekend. Yea, coupled with an MBA, it ultimately led to a spot within a Hedge Fund but I probably would have done things differently if I could.

And good luck thinkin' you're gonna get that bonus you're talking about

All that *****work you'll be doing won't be as lucrative as it was 3-4 years ago buddy.

good info in this post. 100k is nothing for someone with a high mortgage payment/kids. alas, smart folks who make 100k throw whatever they don't spend on bills into investment accounts. that's where millionaires are bred

Well if you're speaking for someone who has dependents and multiple assets then of course you're going to be living check to check. Speak for yourself though. I'm 25, single, 3 cars, an apartment in Boston, condo in Hartford and I'm livin' comfortably. It's just about how you manage your %$$$. My condo I currently rent out to college kids and my apartment in Boston I rent out one of the rooms, so I'm recouping money monthly.


Good investment. Having that cash flow on top of your salary is definitely living comfortably. I'm assuming you make over 100k from your salary alone?


what do u do??? and what is your salary if you dont mind me asking. 3 cars at 25 and living comfortably thats

 

[mastamind89]

Ricardo Malta wrote:

good info in this post. 100k is nothing for someone with a high mortgage payment/kids. alas, smart folks who make 100k throw whatever they don't spend on bills into investment accounts. that's where millionaires are bred
Well if you're speaking for someone who has dependents and multiple assets then of course you're going to be living check to check. Speak for yourself though. I'm 25, single, 3 cars, an apartment in Boston, condo in Hartford and I'm livin' comfortably. It's just about how you manage your %$$$. My condo I currently rent out to college kids and my apartment in Boston I rent out one of the rooms, so I'm recouping money monthly.

Hartford

...I go to school at Uni. of Hartford

But I hope to be a doctor one day

 

[tylerhundley]

i dont make 6 figures, but to the OP, NO you are not the only white boy in KY who collects shoes, I am white and I live in KY and I collect shoes lol

 

[ricardo malta]

Good investment. Having that cash flow on top of your salary is definitely living comfortably. I'm assuming you make over 100k from your salary alone?

what do u do??? and what is your salary if you dont mind me asking. 3 cars at 25 and living comfortably thats

I'm an associate at a Hedge Fund in Boston (no I won't tell you which one and no I can't get you a job

) My base is over $150k with quarterly, performance, and year end bonuses. Alot of what I have in regards to assets didn't all come from my income but from solid investments when I was younger that have done well over the years(lots of CD's, bonds, VMWare IPO

, etc). When I was 21, me and 2 ofmy friends bought 2 beach houses in Belmar, NJ and rented them out during the summer for the past 4 summers before selling them 2 months ago.

I do alot of supplemental real estate stuff with various investment partners because it's lucrative over a period of time. My next move is to sell mycondo in CT and purchase a 3 or 4 bedroom condo in NYC and rent out the rooms. There is always a need for apartments in NYC and quite frankly, people arewilling to pay well over $1500 a month for a room and depending on where it is in the city (Midtown, Gramercy, etc) I could possibly stretch a 3/4 bedroom to$7,500-$8,000 a month. Real estate ain't hurtin' in big dense cities like NYC, San Francisco, Chicago, etc so if you can get in on it and have thefunds then do so.

 

[mvpd3434]

i do

 

[chiqga]

Originally Posted by Ricardo Malta

Good investment. Having that cash flow on top of your salary is definitely living comfortably. I'm assuming you make over 100k from your salary alone?

what do u do??? and what is your salary if you dont mind me asking. 3 cars at 25 and living comfortably thats

I'm an associate at a Hedge Fund in Boston (no I won't tell you which one and no I can't get you a job

) My base is over $150k with quarterly, performance, and year end bonuses. Alot of what I have in regards to assets didn't all come from my income but from solid investments when I was younger that have done well over the years (lots of CD's, bonds, VMWare IPO

, etc). When I was 21, me and 2 of my friends bought 2 beach houses in Belmar, NJ and rented them out during the summer for the past 4 summers before selling them 2 months ago.

I do alot of supplemental real estate stuff with various investment partners because it's lucrative over a period of time. My next move is to sell my condo in CT and purchase a 3 or 4 bedroom condo in NYC and rent out the rooms. There is always a need for apartments in NYC and quite frankly, people are willing to pay well over $1500 a month for a room and depending on where it is in the city (Midtown, Gramercy, etc) I could possibly stretch a 3/4 bedroom to $7,500-$8,000 a month. Real estate ain't hurtin' in big dense cities like NYC, San Francisco, Chicago, etc so if you can get in on it and have the funds then do so.
No d ride, but you are my idol right now. Working at a hedge fund and investing in real estate at such an early age.

BTW, what schools did you attend?

 

[gunna get it]

My son Malta

I bought a townhouse over by my old school and I'm in process of remodel so I can rent them out for top dollar.

I'm good with $ but it could always be better.

Btw, my losses since the market collapsing is now at 37k

Malta, u need to help a brother out with some insider info word to martha stewart

 

[dbbabd]

can someone explain hedge funds and what do u need to do such a thing

 

[espnonthescreen]

Originally Posted by GUNNA GET IT

Malta, u need to help a brother out with some insider info word to martha stewart

 

[shapeshiftah]

what do you do? how long did you work before you started making 6 figures?
i am an IT consultant working for a number of new york city government clients. i was working for about seven years (three of those years stuckat the $80k mark) until i found this consulting company, which offered me a really nice six-figure salary. i started out as a salaried employee making $105k ayear, but switched to W2 (hourly) after a year, and basically doubled my salary. only thing i gave up was vacation time; i still get medical, dental, vision,and 401k.

two years later, i'm still here, and loving the work i do.

 

[shapeshiftah]

double post.