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Old 02-19-2013, 12:31 PM
 
Location: Coastal Connecticut
14,795 posts, read 18,036,290 times
Reputation: 3363

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Quote:
Originally Posted by nep321 View Post
Sounds like you have selfish parents. It is common that people in their 20's may need some form of family or financial help in order to get ahead in life. People do it all the time. Most parents allow their children to stay at their house for a while, as long as they're making efforts to succeed. After all, parents should be there to help out, but not spoil or give too much.
That mentality has ruined some of my friends' lives, who are now almost 30.

They still live at home with an expensive education and zero real work experience.

I've never seen a case where the coddling past age ~23-25 paid off. Ever.

 
Old 02-19-2013, 12:32 PM
 
Location: Jacksonville, FL
11,040 posts, read 13,434,691 times
Reputation: 6770
Quote:
Originally Posted by kidyankee764 View Post
I think it's fair to make that assumption, as I grew up in a town where some of the wealthiest people on the planet live. The Wall St money that my best friend's parent's made in the late 90's and early 00's would dwarf your parent's assets. Period.

You need to gett off of your high horse and start contributing to society instead of trying to get by while doing as little work as possible, living a typical lifestyle, hoping that one day, you'll be sitting on a few million dollars.

Sickening.
I never cared about being wealthy. It's a plus, of course, but you do realize that I have the ability to look for work with a hedge fund, for example, in Fairfield county and start making $100K today, devising investment strategies in long/short funds or multi-strategy hedge funds. I have experience in hedge funds and did well with it. But I don't want to pursuit it. Why? Because I don't want to work 60+ hours a week. Personal choice, period. Let someone else make the money.
 
Old 02-19-2013, 12:34 PM
 
Location: Coastal Connecticut
14,795 posts, read 18,036,290 times
Reputation: 3363
Quote:
Originally Posted by nep321 View Post
I never cared about being wealthy. It's a plus, of course, but you do realize that I have the ability to look for work with a hedge fund, for example, in Fairfield county and start making $100K today, devising investment strategies in long/short funds or multi-strategy hedge funds. I have experience in hedge funds and did well with it. But I don't want to pursuit it. Why? Because I don't want to work 60+ hours a week. Personal choice, period. Let someone else make the money.
But if you want the nice house, in a nice area, with lots of benefits - sometimes you have to work harder for it.

40 hour work weeks are rare these days unless you're happy with a modest income.
 
Old 02-19-2013, 12:34 PM
 
Location: Coastal Northeast
15,780 posts, read 22,073,849 times
Reputation: 5294
Quote:
Originally Posted by nep321 View Post
I never cared about being wealthy. It's a plus, of course, but you do realize that I have the ability to look for work with a hedge fund, for example, in Fairfield county and start making $100K today, devising investment strategies in long/short funds or multi-strategy hedge funds. I have experience in hedge funds and did well with it. But I don't want to pursuit it. Why? Because I don't want to work 60+ hours a week. Personal choice, period. Let someone else make the money.
My other half works at a hedge fund. She works 40 hours a week and her salary dwarfs mine. Even the traders - their day begins at 8 and ends at 4:30 - that includes a half hour to an hour lunch.

Don't be lazy and cut the excuses. You're coming across as a bit ignorant.
 
Old 02-19-2013, 12:35 PM
 
Location: Coastal Connecticut
14,795 posts, read 18,036,290 times
Reputation: 3363
I was going to say I don't think anyone at a hedge fund works 60 hours a week regularly. 50, maybe.

I work in an industry notorious for extra hours and weekend pitch work, and I don't even average 60.
 
Old 02-19-2013, 12:39 PM
 
Location: Jacksonville, FL
11,040 posts, read 13,434,691 times
Reputation: 6770
Quote:
Originally Posted by Stylo View Post
That mentality has ruined some of my friends' lives, who are now almost 30.

They still live at home with an expensive education and zero real work experience.

I've never seen a case where the coddling past age ~23-25 paid off. Ever.
That's probably because they chose to go to an expensive college and get a degree in something where job seekers are a dime a dozen. Luckily in my case, accounting is always in demand, so I wouldn't need to stay with parents for more than a few months at most. All of my education loans are paid off and I happen to have 5+ years of real work experience. So don't put me in the same category as those people. Different person, different situation.
 
Old 02-19-2013, 12:42 PM
 
Location: Jacksonville, FL
11,040 posts, read 13,434,691 times
Reputation: 6770
Quote:
Originally Posted by kidyankee764 View Post
My other half works at a hedge fund. She works 40 hours a week and her salary dwarfs mine. Even the traders - their day begins at 8 and ends at 4:30 - that includes a half hour to an hour lunch.

Don't be lazy and cut the excuses. You're coming across as a bit ignorant.
It really depends on the hedge fund and the position held by the employee. Chances are, that a hedge fund investment professional WILL work 60+ hours a week. Why do you think they pay $100,000 salaries to people in their 20's? They're certainly not expecting you to work 40 hours a week. Like I said, I'm generalizing, but most funds are like that, depending on the strategy.
 
Old 02-19-2013, 12:42 PM
 
Location: Coastal Connecticut
14,795 posts, read 18,036,290 times
Reputation: 3363
Quote:
Originally Posted by nep321 View Post
That's probably because they chose to go to an expensive college and get a degree in something where job seekers are a dime a dozen. Luckily in my case, accounting is always in demand, so I wouldn't need to stay with parents for more than a few months at most. All of my education loans are paid off and I happen to have 5+ years of real work experience. So don't put me in the same category as those people. Different person, different situation.
No, they never tried fully career-wise because they knew they had a fallback. And that was much easier than working hard.

Their degrees were fine.

And I don't care what you have for a degree, you can work your way into a good career with some persistance and talent.
 
Old 02-19-2013, 12:42 PM
 
Location: Coastal Northeast
15,780 posts, read 22,073,849 times
Reputation: 5294
Quote:
Originally Posted by nep321 View Post
That's probably because they chose to go to an expensive college and get a degree in something where job seekers are a dime a dozen. Luckily in my case, accounting is always in demand, so I wouldn't need to stay with parents for more than a few months at most. All of my education loans are paid off and I happen to have 5+ years of real work experience. So don't put me in the same category as those people. Different person, different situation.
Well aren't you just the cat's meow!

Quote:
Originally Posted by nep321 View Post
It really depends on the hedge fund and the position held by the employee. Chances are, that a hedge fund investment professional WILL work 60+ hours a week. Why do you think they pay $100,000 salaries to people in their 20's? They're certainly not expecting you to work 40 hours a week. Like I said, I'm generalizing, but most funds are like that, depending on the strategy.
You're so wrong that it's laughable.
 
Old 02-19-2013, 12:45 PM
 
Location: Ubique
4,091 posts, read 2,949,692 times
Reputation: 2525
If this journey really becomes an experience and lessons are learned, I see no problem pressing the reset button, starting over with the job search.

If your parents see that you are doing the right thing, they should support you. I know I would.
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