Ditching a 50k banking job for half the salary
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What is a worthy woman in your eyes? Doesn't seem worthy to me if high level of income is what they look for first in a potential partner.
Original post by Crazy92
I think that's a really funny paragraph. I think it shows how little you understand about banking and its importance in modern society.
There is nothing shameful about being a banker. I would be very proud to tell my children that I work for an Investment Bank.
There is nothing shameful about being a banker. I would be very proud to tell my children that I work for an Investment Bank.
I think banking in your "modern society" has proved to be dangerous and wealth destroying... oh has 2008 not proved there is indeed a problem currently with global finance? Toxic derivatives.. mortgage backed securities?
Yet you are probably naive enough to think money printing can fix a structural problem. Have you not seen how the middle class is disintegrating and there is no real market now thanks to manipulation from these very banks. Bankers bonuses on the contrary have never been bigger
Banks are surviving on nothing but manipulated low interest rates and inflation at the cost of many hard working citizens. Original post by Abdul-Karim
A lot of the major banks are restructuring their Business Model. Look at MS.. banks still have valuable use in contemporary society and given the services they provide, they'll last a while longer.
The banking system needs to be broken down and simplified, that will only happen with the next banking crisis and this time there is not much central banks can do... which honestly is not too far away. Currently it is way too unstable, complexity has increased systematic risk and has allowed fraud/manipulation to become the norm. But bankers love false Keynesian based linear models as it allows them to mislead and over-leverage under the nose of regulators and bag themselves a neat bonus
Original post by Crazy92
Any evidence to support that view?
Original post by Pterodactyl
Sources, son.
Sorry I am not used to discussing finance on TSR, I suggest you do your homework really. I think anyone with half a brain who has been keeping up with current turmoil, CB policy and global finance in general could figure out this will not end well.
Stress tests, enormous amounts of off balance sheet derivatives, aggressive CB policy yet no economic growth in real terms, bail-in policies being put forward by EU etc etc etc... there is no specific source or 'evidence'.
You just keep up and then go figure.
Guys, this thread isn't about the ins and outs of banking careers. I dare say most of you are completely under-qualified to make suggestions on that unless you've had career experience already,
I'm more interested in the psychology of dating in london with respect to income.
Perhaps it would just be a question of moving out to a city with a less corporate culture.
I'm more interested in the psychology of dating in london with respect to income.
Perhaps it would just be a question of moving out to a city with a less corporate culture.
Original post by thatrollingstone
Guys, this thread isn't about the ins and outs of banking careers. I dare say most of you are completely under-qualified to make suggestions on that unless you've had career experience already,
I'm more interested in the psychology of dating in london with respect to income.
Perhaps it would just be a question of moving out to a city with a less corporate culture.
I'm more interested in the psychology of dating in london with respect to income.
Perhaps it would just be a question of moving out to a city with a less corporate culture.
This. I currently reside in London.. I find it so miserable here currently
Women aren't as appoachable or friendly here in public as well... or maybe that is just me.
And sorry for going off topic on your thread
Best of luck, hope you make the right decision.(edited 9 years ago)
Original post by Wisefire
I attended a one-day workshop at Deutsche Bank, and learnt a lot from it, but no. What can I say... I work hard, and have many good reasons to just work damn hard. I like working hard. It puts a close-minded purpose to things, that I appreciate, in our random lives on this random planet we're all on. To top it all off, if you work hard enough, and get enough of this thing called money, you get to travel more, meet more and better girls, have a better car, have a nicer house, and be able to do more and mingle around with better people.
These one-day workshops are propaganda tools. If you think they were meant to give you a realistic representation of the life of the banker, then you have another thing coming.
Don't worry, you're doing as most young people your age would do. Your learning will come with time, and who knows, you may end up being one of those who are ultimately good at and destined for being in banking, and you may enjoy it. But you're showing too much of an unheathly obsession right now.
Original post by thatrollingstone
Guys, this thread isn't about the ins and outs of banking careers. I dare say most of you are completely under-qualified to make suggestions on that unless you've had career experience already,
I'm more interested in the psychology of dating in london with respect to income.
Perhaps it would just be a question of moving out to a city with a less corporate culture.
I'm more interested in the psychology of dating in london with respect to income.
Perhaps it would just be a question of moving out to a city with a less corporate culture.
Do you like high maintenance women? As far as I know those are the ones that would be most bothered about your income. And those women also exist in a city with less corporate culture.
Posted from TSR Mobile
Original post by thatrollingstone
Guys, this thread isn't about the ins and outs of banking careers. I dare say most of you are completely under-qualified to make suggestions on that unless you've had career experience already,
I'm more interested in the psychology of dating in london with respect to income.
Perhaps it would just be a question of moving out to a city with a less corporate culture.
I'm more interested in the psychology of dating in london with respect to income.
Perhaps it would just be a question of moving out to a city with a less corporate culture.
Most Cities will have it. It's at it's worst in london though.
Do you think you'll be happy with a 25k job and that you'll have no regrets?
If yes go on with it. If not don't. I'd advise to try it for a bit and quit after a year or two then do the job you want to do but hey I'm not the guy who's bagged a 50k salary so what do I know?
Original post by Wisefire
But there is nothing that takes my fancy right now. There is nothing I want to do right now, as I have no money to do anything. THAT IS LITERALLY THE CASE. Do you want me to go into the specifics? I can PM them if you want to actually inquire; I'd be more than happy to reveal to you what I flipping mean. A gamble eventually pays off, and if it doesn't... Well, I'll shift whatever ****ty net worth I may have at the end of it all and disassociate myself from our society (the UK). Literally, I'll just move to somewhere like Hawaii and wither and die a failure. Something's got to change if I keep on trying. I hope so. For now, I want money, and nothing anybody says is going to change me and my leaning to either become a corporate slave (I want to be humanity's bitch quite frankly), or be my own boss. I'm that fed up with the stagnant nature of my life. I have a mind more worthy than the **** I'm in.
I was responding to your advice to the OP to do something he doesn't like now in the hopes he'll be able to do something he does like later. You know, hoping he doesn't die or become too accustomed to quit. If he takes the lower job, he's earning, what, 25K a year? That isn't bad, at least where I live. He actually has an idea of where he wants to go and what he wants to do, which is why I wouldn't suggest he take the higher paying job.
As for you, you clearly want to get out of your life, and money is one way to do that, so take the highest paying job you can find but you'll probably just be moving into another stagnant part of your life, only there'll be more apple. If you can cover your basic needs (and I don't know if you can) then happiness is way more in your head than your situation. Saying this, I'm sure there are some people who really are only happy when they have money... good luck!
Original post by thatrollingstone
Guys, this thread isn't about the ins and outs of banking careers. I dare say most of you are completely under-qualified to make suggestions on that unless you've had career experience already,
I'm more interested in the psychology of dating in london with respect to income.
Perhaps it would just be a question of moving out to a city with a less corporate culture.
I'm more interested in the psychology of dating in london with respect to income.
Perhaps it would just be a question of moving out to a city with a less corporate culture.
Sorry for derailing.
Do what you think you'll be happiest doing, you're going to find someone who's right for you doing that rather than grinding your way through a life you hate.
Original post by posthumus
I think banking in your "modern society" has proved to be dangerous and wealth destroying... oh has 2008 not proved there is indeed a problem currently with global finance? Toxic derivatives.. mortgage backed securities?
Yet you are probably naive enough to think money printing can fix a structural problem. Have you not seen how the middle class is disintegrating and there is no real market now thanks to manipulation from these very banks. Bankers bonuses on the contrary have never been bigger Banks are surviving on nothing but manipulated low interest rates and inflation at the cost of many hard working citizens.
The banking system needs to be broken down and simplified, that will only happen with the next banking crisis and this time there is not much central banks can do... which honestly is not too far away. Currently it is way too unstable, complexity has increased systematic risk and has allowed fraud/manipulation to become the norm. But bankers love false Keynesian based linear models as it allows them to mislead and over-leverage under the nose of regulators and bag themselves a neat bonus
Sorry I am not used to discussing finance on TSR, I suggest you do your homework really. I think anyone with half a brain who has been keeping up with current turmoil, CB policy and global finance in general could figure out this will not end well.
Stress tests, enormous amounts of off balance sheet derivatives, aggressive CB policy yet no economic growth in real terms, bail-in policies being put forward by EU etc etc etc... there is no specific source or 'evidence'.
You just keep up and then go figure.
Yet you are probably naive enough to think money printing can fix a structural problem. Have you not seen how the middle class is disintegrating and there is no real market now thanks to manipulation from these very banks. Bankers bonuses on the contrary have never been bigger
Banks are surviving on nothing but manipulated low interest rates and inflation at the cost of many hard working citizens. The banking system needs to be broken down and simplified, that will only happen with the next banking crisis and this time there is not much central banks can do... which honestly is not too far away. Currently it is way too unstable, complexity has increased systematic risk and has allowed fraud/manipulation to become the norm. But bankers love false Keynesian based linear models as it allows them to mislead and over-leverage under the nose of regulators and bag themselves a neat bonus
Sorry I am not used to discussing finance on TSR, I suggest you do your homework really. I think anyone with half a brain who has been keeping up with current turmoil, CB policy and global finance in general could figure out this will not end well.
Stress tests, enormous amounts of off balance sheet derivatives, aggressive CB policy yet no economic growth in real terms, bail-in policies being put forward by EU etc etc etc... there is no specific source or 'evidence'.
You just keep up and then go figure.
I'm a trader in an Investment Bank.....I reckon that I understand the industry better than you do.
I would say that you simply don't understand what you are talking about, please go and get some real-world experience and then reformulate your views.
Original post by thatrollingstone
Just someone really intelligent and passionate about something. Nothing to do with income.
Going on just about everything I know, there is a strong inverse correlation between predominantly high-income career domains and personal integrity and passion, with some important exceptions (namely, the healthcare and creative sectors).
Original post by Wisefire
To the OP: I would say in your younger years definitely get the very best job you can possibly get, pay-wise; that's essential. You'll only be open to jobs at that pay level or more the older you get, generally, and you'll be even more satisfied for getting the money earlier on in life.
This completely begs the the question; 'best' is an evaluative category which doesn't necessarily translate into maximum financial return. If the alternative path better facilitates the OP's happiness, abilities, value-set and world-view, it seems patently obvious they should pursue it.
Original post by thatrollingstone
Guys, this thread isn't about the ins and outs of banking careers. I dare say most of you are completely under-qualified to make suggestions on that unless you've had career experience already,
I'm more interested in the psychology of dating in london with respect to income.
Perhaps it would just be a question of moving out to a city with a less corporate culture.
I'm more interested in the psychology of dating in london with respect to income.
Perhaps it would just be a question of moving out to a city with a less corporate culture.
On the first point, I'm a trader in an IB, otherwise I wouldn't bother giving you my view on the industry.
On the second point, I have dated in London as a poor student and a relatively wealthy trader. Both are good fun, I dare say I had better dates as a poor student!! You just need the right girl!
I have an Aunty who has just retired from a senior post at Citi bank.She is 54
She would go to the gym at 5.00am, be in the office at 7-8.00am.She would return home around 8 and probably got to bed at 11.00/12.00.Honestly she is the most hard working person I know but it's basically been her life for 20+yrs.
She would go to the gym at 5.00am, be in the office at 7-8.00am.She would return home around 8 and probably got to bed at 11.00/12.00.Honestly she is the most hard working person I know but it's basically been her life for 20+yrs.
Original post by Wisefire
I like the idea of having mutually aligned, materialistic, money-centered women, who also have this thing up themselves about 'worthiness'/how credible one is. I like that idea. I'd want that in my life, and I'm not afraid to say it.
Absent a concealed motivation of effective altruism, you should be ashamed to say it; accruing and festishising material resources at the expense of the downtrodden and suffering is disgusting.
Original post by Crazy92
I'm a trader in an Investment Bank.....I reckon that I understand the industry better than you do.
I would say that you simply don't understand what you are talking about, please go and get some real-world experience and then reformulate your views.
I would say that you simply don't understand what you are talking about, please go and get some real-world experience and then reformulate your views.
What do you trade?
Do you at least have a teeny weeny argument for my claim on how banks are only alive today as they leech off of citizens?
What do you do is fairly irrelevant to me to be fair. I'd rather not speak of or make up what I do for a living. If anything, your average trader is just as naive as a 10 year old when it comes to current markets.
I can tell you that I have worked on Algorithmic trading systems and studied Exchange Market Microstructure extensively. I believe I can teach you one or two things of how banks really trade in the market place.
Original post by thatrollingstone
I'm due to start a grad banking job this summer. After having done two internships and realizing how much of a soul destroying, corporate-BS filled role it is, I'm going to ditch it for one half the salary which involves a role which I am hoping will get me better learning and development opportunities in the future, and more oriented towards my long term passion.
Only problem is, I've got this idiotic irrational side of my brain that's telling me I'm doing the wrong thing, and that the only way I'd ever be successful in dating worthy women is if I had a high income start to my career. This is further exacerbated by the face that I am London as well.
Am I doing the right thing? Is the fact that women like men with high income really significant factor when it comes to dating?
I kinda know the answer to this question already, but I just need a few others to tell me I'm an idiot for thinking this way
Only problem is, I've got this idiotic irrational side of my brain that's telling me I'm doing the wrong thing, and that the only way I'd ever be successful in dating worthy women is if I had a high income start to my career. This is further exacerbated by the face that I am London as well.
Am I doing the right thing? Is the fact that women like men with high income really significant factor when it comes to dating?
I kinda know the answer to this question already, but I just need a few others to tell me I'm an idiot for thinking this way
if you want a rinser then take the 50k job. if you want a satisfying life then go for your passion. and before you make your decision watch this http://www.upworthy.com/something-every-teacher-should-watch-and-student-and-person?g=2
personally I find a guy's passion for something very attractive, it doesn't even matter what the passion is
Original post by Wisefire
Yep, exactly. It's subjective; and so, as the bit highlighted does mean 'go after money' for me, I (and the OP, if it does genuinely suit him) would like to go after money...
The implicature of 'yep, exactly' is that my prior comment dovetailed with the comment to which it responded, which is patently false. You originally told the OP to unconditionally secure the highest paying job, which hardly exhibits a concern for his/her particular preferences, world-view and so forth. As indicated by my last comment, I don't think the organisation of ones life and career is merely subjective, but has political and moral significance.
Original post by posthumus
What do you trade?
Do you at least have a teeny weeny argument for my claim on how banks are only alive today as they leech off of citizens?
What do you do is fairly irrelevant to me to be fair. I'd rather not speak of or make up what I do for a living. If anything, your average trader is just as naive as a 10 year old when it comes to current markets.
I can tell you that I have worked on Algorithmic trading systems and studied Exchange Market Microstructure extensively. I believe I can teach you one or two things of how banks really trade in the market place.
Do you at least have a teeny weeny argument for my claim on how banks are only alive today as they leech off of citizens?
What do you do is fairly irrelevant to me to be fair. I'd rather not speak of or make up what I do for a living. If anything, your average trader is just as naive as a 10 year old when it comes to current markets.
I can tell you that I have worked on Algorithmic trading systems and studied Exchange Market Microstructure extensively. I believe I can teach you one or two things of how banks really trade in the market place.
I trade commodities, which requires extensive knowledge of FX and IR.
A quick look at your profile indicates that you are still in university. I would certainly question how much you know or understand about markets unless you have actually traded in them. If you think the average trader in a top tier IB has below average knowledge, then you are simply a fool. There is a reason that HFs come to us to talk about trades.
Fantastic, as have I. I don't think you can teach me much about it, but if you really can I would love to hear it. Please PM me and enlighten me, hell, it may even help me make more money if you really teach me something.
Original post by Wisefire
Oh, I used to be 'happy' and unconcerned and unaware about money and what it gives you... I'm only looking for certain things. I've very definitely defined exactly what I want, and I'd have it if my net worth was £850k, in essence. A £700k-ish house, a £100k-ish car, a stable, well-paid job (either around £80k or more), and enough money for either some decent investments or lots of travelling when I'm free, either via my awesome car or plane... That's it. More? I can keep going after more, and I want more. I don't see myself changing this inkling of mine any time soon. I've been brought up in a world where everybody has more than me, monetarily/materially, and, CLEARLY through that money, more socially. I'm the poorest guy I know, and my family would be at just about the eight decile of income according to the chart on this link:
http://www.theguardian.com/money/2014/mar/25/uk-incomes-how-salary-compare
At my relative position, I want more, and can clearly see why so. What can I say when I've been... About a bit, with my friends... Who own McLaren P1s and Ferrari Enzos...
http://www.theguardian.com/money/2014/mar/25/uk-incomes-how-salary-compare
At my relative position, I want more, and can clearly see why so. What can I say when I've been... About a bit, with my friends... Who own McLaren P1s and Ferrari Enzos...
Well my family is a hell of a lot lower than eight, but then I've never been around people who've earned substantially more. Yes, a bit more and it sucks when you're struggling to pay your phone bill and they seem to have about 4 new phones every month but I got over it.
If you want money, and think it is the only way you'll be happy, that's cool, you have much company - I just wonder what happens if it become unachievable. If you let your happiness depend on it, then what if you never get it? You'll just have been miserable all your life? All because you didn't have the newest car? Or a big house?
Just out of curiosity, if you can go with a hypothetical here, would you rather be incredibly happy (somehow lol) and have just enough money to get by or be extremely wealthy and mildly miserable?
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