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Exactly, if you think all those GC wealthy family's athlete kids are toiling away at best buy you are living in a fantasy land. Many of them are probably masking as much if not more that the hard working asian kid for doing a fraction of the work because a high paying career is handed to them from mommy and daddy.
Agree, although the hand me down Wall Street jobs are getting to be harder to come by so when the meathead athlete takes 6 years to get through a fair-to-middling college it's not so easy anymore to get the cushy Wall St. job. And those jobs are no longer an automatic route to being a millionaire anyway.
Also know a kid or two who went off to really good colleges on athletic scholarships and were packing their bag by the end of first semester because they couldn't handle the work and had zero life skills for living away from home.
Those meatheads are now working on Wall Street because their daddies got them cushy, high paying jobs. Never underestimate the power of a privileged upbringing.
Nope, thanks to tighter regulations and fewer big spending clients, Wall Street isn't making as much money as it used to. Pay has been declining 4-10% annually since the recession 6 years ago. If those "privileged" kids are making money, it's not in Wall Street.
Now where financial institutions are growing are areas like compliance, audit, risk, Basel - those fields one would need good academic abilities.
Nope, thanks to tighter regulations and fewer big spending clients, Wall Street isn't making as much money as it used to. Pay has been declining 4-10% annually since the recession 6 years ago. If those "privileged" kids are making money, it's not in Wall Street.
Now where financial institutions are growing are areas like compliance, audit, risk, Basel - those fields one would need good academic abilities.
Sorry not buying it. Although I'm sure Wall Street may not be the cash cow it used to be (and who said every wealthy family in GC is Wall Street anyway) there is no way kids like that will be toiling away for 10 bucks an hour somewhere.
Nope, thanks to tighter regulations and fewer big spending clients, Wall Street isn't making as much money as it used to. Pay has been declining 4-10% annually since the recession 6 years ago. If those "privileged" kids are making money, it's not in Wall Street.
Now where financial institutions are growing are areas like compliance, audit, risk, Basel - those fields one would need good academic abilities.
To work in those areas as you need academics, but to need the boss you need some good social skills. A six foot three inch well spoken ex athlete who looks the part will run the area and make the big bucks.
Academics alone gets you in the door. Want a corner office with a water view on Wall Street. You need a lot more than a 3.9 GPA when you were 20 years old. Those jobs dont come till you are 35-40 and by then no one cares about your GPA
You could do a lot worse than Garden City, especially if you need to commute into NYC and live near one of the four train stations (not counting Stewart Manor). I loved the relative "walkability" of 7th St and Franklin when I most recently was back on the island (Floral park Feb '14-August '14, GC August/Sept '14).
That said, if you have kids and have strong academic aspirations for them, I would recommend you account for the cost of private education.
GC non-white & Catholic (the venerable WASPS are long dead) is growing, thank God. You won't be the advance guard, but it will be a while before affluent professional minorities become visible a la Great Neck.
If a kid is hardworking and smart (and has good parents that help them along the way) she/he will succeed no matter what school they go to. Private schools are overrated especially in this day and age.
If a kid is hardworking and smart (and has good parents that help them along the way) she/he will succeed no matter what school they go to. Private schools are overrated especially in this day and age.
Yeah, Aiden McGonagle from Garden City HS stands as good a chance of getting into 8 Ivies as Kwasi from Mastic. Sure.
I agree that private school for most LI districts is in no way a necessity, though.
Yeah, Aiden McGonagle from Garden City HS stands as good a chance of getting into 8 Ivies as Kwasi from Mastic. Sure.
I agree that private school for most LI districts is in no way a necessity, though.
Kwasi would succeed no matter what. So would most children if they have parents like Kwasi. I don't think schools are magical places where a lazy bum would learn by osmosis. I'm sure his upbringing in a working class but still-on-Long Island district helped him but he did 90 percent of the work to get there
Kwasi would succeed no matter what. So would most children if they have parents like Kwasi. I don't think schools are magical places where a lazy bum would learn by osmosis. I'm sure his upbringing in a working class but still-on-Long Island district helped him but he did 90 percent of the work to get there
Totally missing the point of my post, but that's OK. I agree with what you said anyway.
I think the most important thing you can teach a child is a work ethic.
Sorry not buying it. Although I'm sure Wall Street may not be the cash cow it used to be (and who said every wealthy family in GC is Wall Street anyway) there is no way kids like that will be toiling away for 10 bucks an hour somewhere.
I work for a large investment bank. My employer and every one of our competitors is shrinking its balance sheet and with that go the pay raises, bonuses and quick promotions. It's all there in the public domain. Credit Suisse, Citi, JP Morgan, UBS, BofA are all doing it. My own job is to keep a lid on the bank's capital to the undoing of the salespeople. So where are the deal makers going to get their capital for underwriting or grease M&A transactions? And of they can't do deals, where will they get their bonuses?
So where are the non-academic kids ending up? Maybe out of state? We have openings for lower skilled positions like ops, client support and sales in our Florida office. Goldman is doing something similar in Utah as is Morgan Stanley in Maryland. But here in NYC, it's knowledge, knowledge, knowledge.
Quote:
Originally Posted by SandyJet
To work in those areas as you need academics, but to need the boss you need some good social skills. A six foot three inch well spoken ex athlete who looks the part will run the area and make the big bucks.
Academics alone gets you in the door. Want a corner office with a water view on Wall Street. You need a lot more than a 3.9 GPA when you were 20 years old. Those jobs dont come till you are 35-40 and by then no one cares about your GPA
To be the boss (aka. director) you need to toil in the role for >10 years, which means you need academic abilities to position you for one day becoming the boss. And who says someone who was not a jock in HS cannot develop good social skills?
Last edited by Forest_Hills_Daddy; 02-21-2015 at 05:22 PM..
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