vania-janet/multiturn-rag-retrieval-data huggingface dataset:
You will likely need a CFA level 1 to get any traction, unless you can find some people that are willing to pull for you, which you will find is actually more simple than it seems - people love helping their alma matter, and every firm is always looking for smart people. anyways, sign up for the december 2012 cfa exam, and download/buy the schweser notes (don't read the actual books) this will be a great refresher about finance and economics even if you don't end up switching careers. actual answers to your questions 1) yes 2) start as an associate in ib, spend 3 years doing bs, and workin average 90hrs a week, either quit of become vp and start selling work vs doing it 3) ib: immediate sales/trading: immediate, buy side: varies on the firm, size, performance, could be immediate, could be the year after, or you could get fired after 3 months because your phd isnt as useful as they thought it was. 4) mentioned above...a few years, its managable, suck it up 5) no sorry goodluck
And who said high finance isn't criminal half the time? Did any one important go to jail for inflating the housing market and defrauding people in 2008? Of course not...  But back to your point about paying people a lot of money to save lives which is repeated ad nauseam. It isn't relevant because it assumes smart people only discover things to make a lot of money. Ya go tell that to academics who spend their lives in labs etc discovering things and building science from the ground up, I wonder how much they get paid vs. pharma execs.   And even if it proves true to some people I think most would agree that say doctors and drug inventors who actually save lives should be paid well but that's not the people we are dealing with here. We are dealing with financial vultures who just make money off of this because they can and nobody is there to regulate them.
It's called economics, buddy. Supply and demand. That's why IT wages are a lot higher than those in, say, the textile industry. Won't bother explaining it because I think you already understand this but just don't like it.
Supply and demand basically determines wages. Unfortunately our society doesn't even see sustainability of families or society as important enough to make protecting them a high priority.   However, if you are a bank thats been involved in shady business deals, they are going to great lengths to help you avoid prosecution, not just here but all around the world.
"that's one way to look at it.  The point is that the ""wealth gap"" is a LOT less interesting to me than the ""income gap"".  https://www.glassdoor.com/research/ceo-pay-ratio/  I've got all kinds of respect for people who save their pennies, make wise investments, and derive benefit from those actions.  I've got MUCH less respect for a guy/gal who HONESTLY thinks they deserve to make ~$78k / hr."
These articles are such slop. CEO's salaries are rising because it is becoming increasingly difficult to hide income from the tax collectors. Period. End of story. Nobody is getting raises, they're just being forced to pay more taxes because the government needs money more now than it has in recent years
"Why would you just look at salary and not total comp for a first year? It's pretty misleading to say ""$60k to work 100 hours a week"" when you do in fact get paid well above that.  Also, in my 2 years of consulting, I've never come anywhere close to 100 hour work weeks. It usually fluctuates between 45-60 hours. Not to mention Fridays are usually pretty casual/relaxed days since you're working from home or in your home office doing random firm activities/networking."
Lmao dude I'm not going to give any specifics on Reddit, how dumb are you? But I work in infrastructure / P&amp;U, currently working on a ~$2.5bn infra deal so can't complain. I really have nothing to prove to a college kid with a bruised ego that probably wont make it into IB and has a long career of insurance sales ahead of them. Best of luck :)
Do you really think that toll booth collectors deserve a 58k base salary?  I mean, sure, pay them for the hours they work, but that is a job that requires no education and is already being done by computers.  I can't know of many jobs where the skill/pay ratio is so badly skewed.  Fuck me, sit in a booth all day working as a cashier and you can make more than teachers, PhDs, professors, public workers, construction people, and on and on.
"Went to a top tier business school in Canada and applied to corporate finance positions in the oil and gas industry while everyone else sucked cock to get in capital markets. Not only did half of them drop out trying, but I'm getting paid one of the highest intern rates in the country while working 8 hour 4 day work weeks because I combine my vacation and ""flex"" days to take every Friday off while they work 12 to 14 hrs daily for 75% of my take home."
In what world is this new information? and... why does anyone care?  Am I missing something here or is this article totally useless? The upper 1% of wage earners would have to make significantly more than $100k or else I would be able to buy a week's groceries for a dollar fifty and the cashier would make $0.10 an hour...
Not really, we have a 600b deficit. Many people are paid to much for what they're worth.. Our fortune 500 make after taxes 1 trillion. Let alone what the 0.5% are making. Sorry Tom Cruise I like you, but 5 weeks of a movie shoot I don't feel bad you're left with 40 million after taxes from it. You ever stop and think that the executives don't have an incentive to help lower costs because they get these huge checks?
"Without factoring in cost of living that's a pretty ignorant statement. 100k a year in SF really isn't that much. Similar situation in NYC. Most other places in the country that statement might be true but when your average 1200 sq ft 3 bedroom house costs north of 800,000. 100,000 a year stops feeling like a ""fuckton"""
Lol. Anyone that thinks he has earned it is just a clown. Please tell me where 2 years of work experience leads you to be the CFO of a global company. This kid probably has influential parents. How did he become a partner at 3G. How many fucking years of work experience has he had.
"I worked for a large well known corporation as a senior programmer, and was in charge of interviewing programmers. This is in NYC. Out of 50 pre-screened candidates we hired 2. Half of the candidates can't answer the simplest questions like ""write a function to reverse a string"", which every first year Comp Science student should be able to do.  And our salaries were good, not $60K.  So yes, even in NYC there's not enough talent."
"&gt;A) This ain't trolling. This shit is knowledge. I'm seriously not trying to troll anyone. I do not feel there is enough appreciation or attention given to the many many many people sold a bill of goods. These poor dumb fucks I play FF with, working in downtown Boston or NYC, paying $2000 a month in rent for the privilege of earning $30K a year.  They got good grades as Finance majors? They're literally in the bottom 1% of that stratification then. Your anecdote is worthless; the data I provided tells the exact opposite story.   &gt;B) My vendetta is that it is nonsense. All of it. It is the same five fucking ideas rehashed, repackaged and resold to the next generation of idiots over and over and over again. It is literally NOTHING interesting, and it is WAY too many people clamoring for the same piece of a pie they didn't bake.  Rampant ignorance of a topic you don't undertand.  &gt;C) Maybe you are the tallest midget, but maybe you should just not choose to be a midget.  You still have not provided an alternative field of study, just ""finance = bad."""
"The article appears to be making the opposite point it thinks it is making.  The author appears to be talking about income disparity, but if more and more people are making 6 figure salaries - to the extent that it's no longer a ""rich people thing - that would mean income disparity is shrinking, at least if you only look at salary alone (and not equity - which is really what wealth is about).  The top 1% or even 10% **should be** making vastly more than the middle class - that's to be expected.  Otherwise, why would they be 1%?  From time to time, the income disparity folks don't seem to understand their own points."
Economics majors make the most out of the social scientists by far, last I checked it was 60-80k (depending on local market, obv.) but I imagine that trails CS majors significantly. You should be able to afford a decent standard of living in either field, so certainly consider more on the basis of what kind of work you get the most satisfaction from. 4. With an undergrad degree you will start in local government. You may then be able to jump to State and then Federal levels after 5-10 years experience, but still may find it difficult if you forgo the Master's. I have not personally worked as an ""economist"" but I do know you will spend a lot of time searching for/collecting data, writing or using statistical analysis programs to process it, and writing up your reports. 5. Go search ""analyst"" on Indeed.com and you'll find myriad positions in everything from finance, to marketing, to supply chain, etc. which ask for degrees in business, finance, ""or other related field (economics)."" In my opinion, the prestige of the university from which you graduate is secondary to the work you do. Assuming you do a research paper, if it is kick-ass it won't matter much if you went to Harvard or not. Check your city/county jobs site for internship opportunities since no matter what, even getting an entry level job can be difficult if you've never had any job experience in the field (or related field). Labor economics is big since there's a lot of good data and it is a hot topic. Personally, I'm focusing on urban economics, real estate, planning, and transportation. The beauty of Econ is that it is so broad you can almost do whatever you want. But the drawback is that it is so broad it can be tough to show employers that you possess the specific skills and knowledge that make you desirable. Hope this helps!"
"No kidding. I'm not a fan of ""sales guys"" as a whole, but being paid commission alone is just insulting. As far as I'm concerned, it's pretty much just asking to have all your customers poached by a competitor that doesn't jerk people around when said sales guy ultimately leaves for a better position in 6 months -- because you'd have to be kind of a moron to do that job without some other benefit to make it worthwhile."
&gt; K-12 teachers never make six figure sums.  In the U.S. that seems true. I found [this from 2012](http://money.usnews.com/careers/best-jobs/high-school-teacher/salary) that puts the median high-school teacher's salary at $55,050, with the top ten percent making about $85k.  (By the way, this [OECD chart from 2013](http://educationbythenumbers.org/content/us-teachers-6th-highest-paid-world_982/) shows that the U.S. ranks 6th in the world in pay for primary-school teachers. I was surprised when I found this out.)  &gt; Professors in universities sometimes do, but for every professor that makes a lot of money there are probably dozens of untenured faculty who are barely making enough to feed themselves and put gas in their cars.  You may be interested in [this chart from 2011](http://chronicle.com/article/Average-Faculty-Salaries-by/126586/) that gives salaries for professors, associate professors, assistant professors, new assistant professors, and instructors--all broken down by field. The data are only for four-year colleges and universities, though; that excludes community colleges, but I'm not sure whether it includes business schools, medical schools, or other graduate institutions. Not surprisingly, law and engineering are the most lucrative fields.  &gt; The real reason the big corporate interests want to privatize US education is to use all those jobs as bargaining chips in globalization.  Interesting. Can you explain how this is intended to work? And if it would make sense for American corporations to do this, would it make sense for corporations from other countries to do it too? Are they doing it? I don't know anything about GATS or TiSA.  Edit: grammar
Don't have those degrees or even work in finance, but here's the bottom line: Study the job market in YOUR community or what city you want to work in. Ask around at your university and frequent the job searching websites to get a feel for what the potential job market will be like.
YSK that unless you live in a very low cost of living area, you took an extremely underpaid position out of college, and have kind of fucked yourself in the face.  Source: I'm a senior software engineer with a computer science degree.
Obviously a bad title, we have far too many micro corporations for that to be true. If it were a lot of people in the middle class would be kicking ass right now and I'm not seeing it. (not all ceos make millions or even much more than median wage)  &gt;In the largest survey of it's kind out of 2,647 large corporations, The smallest ceo pay increase seen was 27% and increased by a by a median of 36.47%  A more accurate title for you.
Not to mention that he probably worked more overtime than anyone here has ever pulled, lives in a city where the cost of living means that he's only doing sort of well, has to deal with the shitty New York weather, and has people's lives in his hand.
Good thing I'm not at Freddie anymore.  Not sure what I would have picked (They don't use quite the same analyst/VP/Director framework, VP there is like MD elsewhere).  Not sure what someone at the Fed or Treasury would put either, or the rating agencies, or Reuters or Bloomberg.  Before Freddie, I was working for a financial software provider.  Gonna be hard to be inclusive with that list.  And frankly, VP - IB doesn't even tell you much.  I'd much rather know what sector everyone worked.
Look, honestly, I don't care how much they make. Its a tough job and they're working a lot of hours. I'm glad they make this much money, that means they're having a good life. The fact that they are earning this money does not invalidate the fact that a lot of teachers and military personnel do not live as well. That is the problem. We don't have to take from these guys to give to another. We need to take from the people that are hoarding the wealth in this country.  This is obviously a story, I don't want to say planted, but most certainly encouraged by special interest to once again stir up anti-union outrage and make us 99%s fight amongst ourselves over the few crumbs that the 1% let drop down to us.  The problems in this country are not because a few transit cops figured out a way to gets some extra money, it's because we allow 400 people to have all the money when everyone else gets none.
Unless a lot of people I know don't actually exist, yes there are a lot. First off putting UChig as tier 1 is questionable at best. Second, if you've never met anyone from UVA, UMich, BU, Georgetown etc. on the street than you must know only a handful of people.   Also, I was a front office hire out of a lower tier undergrad so there's that as well...
"/endthread   But honestly, we should have a link to something like this in the sidebar, since quite a few people visit this subreddit for ""what are my chances / how do I break in"" advice. A lot of your response applies to others as well (and honestly it's kind of annoying seeing redundant threads about career advice).   Either that, or we direct everyone to /r/financialcareers."
Supply and demand. The market needs highly competent software engineers, and will pay out the nose for them. It needs liberal arts majors too, but there are a lot more of them out there, so wages are lower. Oddly enough, it seems more of the liberal arts majors - and I was one of them once - have developed a pretty strong sense of entitlement, and get pissy when they don't see the same kinds of incomes and perks as the guys with the more marketable skills. Cue OWS!
Let's say they paid you: $300K a year or $3M...would that change your tune?   I've seen the upper end of Hollywood types be absolutely horrid to great people and they will gladly suck it up.  Reason: 1) there is little choice--low percentage of success, 2) All or nothing environment and 3) there is a huge line of people who would kill to have this abusive job.
&gt; earn over 100k a year and they are not even execs  You realize that power transmission and distribution can't be done without electrical engineers right? I don't know about the lunch breaks, but that salary is typical.
Look outside those specific fields in finance to get exp. Custodial banking, back office stuff. Gov't jobs take a while sometimes because of the bureaucracy, and are sometimes much easier with networking connections and exp. rather than fresh out of college. Look at temp jobs that transition to full time roles as well.
It might vary a lot depending on what you'd be doing. I work in PE and my life is mostly a smear of meetings, dinners, weekend getaways, etc., with the people we're trying to pitch to. My friends in VC performing a similar role seem to have a better balance between work and personal life.   That being said, our in office staff work a more or less 9-5 week except when there's a crunch for reports or prep work.
"This.  People that aren't making much think ""Wow - $100k is so much money. If I made that much I'd never have to worry about money again."" Then they start making that much and realize it doesn't stretch nearly as far as they think it will. Biggest problem, of course, is taxes take an ever bigger bite."
Actually he probably saved a lot of jobs at citi. He took over right about the time Lehman bros declared bankruptcy. Every big investment bank was about collapse. The headline is very misleading. The damage was already done when he took over. I don't support CEO pay like this in any situation, but dont blame him for running citi into the ground.
&gt; (mostly ivy leaguers on Wall Street, they've worked their asses off for these jobs).  I spent 6 years in the military and government, 2 of them in Iraq. Getting my job in banking was more difficult and more challenging than anything I had ever done up until that point in my life.
Lol it was pure boiler plate but at least he was straight up and said he's in it for the money. Other than that you could say that about any of the BB firms out there. Not sure if GS or any of the others provide quicker advancement than smaller shops like the ones he shit on right before referencing his internship at one.
&gt;They compensate me fairly  This may be why you bear no ill will as most here probably cannot say the same.  I know I certainly cant, I am shorted almost 50% of the market rate for others in the same field.  The bitch of it is if I left for a year and came back, they probably would pay me that difference, maybe even more.  Makes no fucking sense.
"Guess the military doesn't get those sweet, sweet OT bucks.  Seriously, though. This is what happens when departments are stupid and don't hire the people they need.  Having said that, I'm pretty okay that some SWAT guy gets more than an executive manager. When an executive ""takes a hit"", it's because their pet project overran the budget. When a SWAT officer ""takes a hit"" they end up in the ICU. Plus, as is the case with firefighters, it's not exactly a job that you can do for a long time. There's a period of physical fitness that you can only stretch for so long, and the nature of the job tends to mean that injuries are very likely to suddenly terminate your ability to perform your job. Got to get your retirement covered while you can."
It's a practical, marketable major. If that's what you want to do, go for it. Regardless of the major you choose, the best jobs will be competitive. Some majors are total shit, finance is not one of them. Good luck!
It's a good thing for mid-level to senior bankers; the work that is being replaced is analyst work. This will mean a smaller intake, all other things being equal, and, if demand holds for the entry-level junior jobs, that suggests that salary at the bottom will stagnate.
It just amazes me that they haven't already. I know people who work at big banks that do nothing but run spreadsheets and analyze the balance boxes all day. The only reason they haven't been automated yet is because their tech guys produce more value working on trading algorithms.
"**If** you can resist peer pressure... Go to their meeting, and make a ""counteroffer"" to their promise of gold-plated helicopters and private islands:  You'll take a *mere* $100k salary instead (or if you already make that, double it - The number doesn't really matter).  Then watch them hem and haw as they try to find a way to ""do you a favor"" by not accepting your far too generous offer.  / Had a friend who made a pretty good living off going to Time Share demos for free weeks here and there scattered around luxury resorts.  I should mention he was a *big* guy, and the ""guy #3 blocks the doorway* tactic wasn't particularly effective against him."
I'm talking about household income. $300k is a huge amount of money for a single person to make, but $150k is certainly doable for most doctors/lawyers/engineers. If your spouse is also a high earner that will help put over the 1% threshold.
As operations at a large bank I find I'm there longer than most of the BU. I certainly envy them. Your day is very compressed, but at the end of the day you can go workout/see your kids game/and get a good nights rest. Comparatively I know some people on equity research and they are on a 8am-8pm schedule.
You need field-relevant experience, not just to finish the degree, but to be able to really open up your job opportunities and earning potential. Do not be shy about directly calling/emailing a contact who reaches out to your school looking for ""recent graduates"", and especially any mention of flexibility on early start for those who are almost finished. You can say you are in your final year (you are), and even ask if they are open to working around a light school schedule while you finish up. Most can end up to be ""no"", but it doesn't matter - the recruiting contacts want to hire people, so just reaching out early means you can follow up later once you get your degree and finances sorted out and you will have an even easier time getting that opportunity. In technology and engineering, the importance of summer internships cannot be understated, especially as you are now technically at the end of your degree. In engineering and tech fields, internships pay - often very well. Don't worry about it being the job of your dreams. Depending on your set of skills, apply to insurance companies, IT departments in hospitals and banks (even if you thought your coding skills in engineering were minimal), and of course any paying position that might be more directly in your field of interest. Consider ones outside your immediate area or even the more national internships from the bigger name companies, where possible. It is not at all uncommon for tech and engineering internships for undergraduate students to pay $15-$25+ per hour, even where most non-degree jobs might only pay $8 (and I've seen as high as $40 per hour+ in the high cost of living markets, depending on your skill set). I know many people who were paid more as a student intern than they were previously paid as a full-time professional employee. Many schools - including UNC - charge different tuition for distance learning and satellite campuses, and often also offer University-approved online classes. While this is not always a possibility for every student, you should consider the options. It could be that one of the final classes you need towards your degree can be taken at one of these other options, with reduced tuition. This is not always possible with all courses, but is certainly true if you have any of those general education requirements to knock out.