Why DONT you want to be well paid?

I want to make money, but I want to do something unusual and exciting.


This is why I'm struggling of thinking of careers at the moment

For some funny reason I highly doubt that. Even with years of experience IB's earn around £150k and you have to work your way up to that from around £40k. That isn't that much in reality. The reality is you'll be slaving away for someone else all day and night so they can get richer and richer. Sorry, but there's no chance you're going to be richer than myself by working for someone else. On top of that you'll have a mortgage to pay off whereas I won't have a mortgage as I already own assets.

You have no idea about IB salaries m8..

£150k all in is achievable within 5 years..

VPs are pushing £300-500k all in (~7 years)

MDs are more variable but about £500k-£3m (depending on how much they bring in of course)

You have no clue what you're on about. After years of experience - then you say £150k within 5 years. Do you understand how plurals are formed? So I was right then. Thanks for validating my claim.

On top of that, a MD is not strictly an IB anymore. They're a MD running things and thus its a different job entirely and would go down as a different job title on paper so no, those with the job title of IB very rarely make that sort of money and those that do usually own their own firms. No MD is going to call themselves an IB. They'll go by the title of MD of 'x' firm.

All you've done is validate my claim that running your own business is the surefire way to getting rich whereas working for others, in most cases, isn't. Those who get rich working for others are the exception, not the norm.

Considering 20% of business fail in the first year and its expected that another 50% won't last more than 3 years, running a business is clearly not a "sure fire" way of getting rich

MD is a senior investment banker - they are NOT the CEOs of the companies they work for

You have no clue what you're on about. After years of experience - then you say £150k within 5 years. Do you understand how plurals are formed? So I was right then. Thanks for validating my claim.

On top of that, a MD is not strictly an IB anymore. They're a MD running things and thus its a different job entirely and would go down as a different job title on paper so no, those with the job title of IB very rarely make that sort of money and those that do usually own their own firms. No MD is going to call themselves an IB. They'll go by the title of MD of 'x' firm.

All you've done is validate my claim that running your own business is the surefire way to getting rich whereas working for others, in most cases, isn't. Those who get rich working for others are the exception, not the norm.

Only if your company bring in revenue and makes a profit.

People think running a business is easy.

For some funny reason I highly doubt that. Even with years of experience IB's earn around £150k and you have to work your way up to that from around £40k. That isn't that much in reality. The reality is you'll be slaving away for someone else all day and night so they can get richer and richer. Sorry, but there's no chance you're going to be richer than myself by working for someone else. On top of that you'll have a mortgage to pay off whereas I won't have a mortgage as I already own assets.

x

A MD and a CEO are roughly on the same level and most use them interchangeably. In banking, it may be different and if that is the case then they're using the term incorrectly. A Managing Director isn't a senior position. It is it's own position. You are a Managing Director responsible for the day to day responsiblilities. In America they're called CEO's. In Britain they're referred to as MD's. That's just the way it is. They both answer to the Board of Directors depending upon the structure of the company.I know how bankers bonuses work and I don't envy them at all. They work ridiculous hours, some doing 80-100 hour weeks and quite frankly deserve them. I certainly would not work that much to line someone else's pocket and if I was in that field I'd be striving to save up as much money to set up my own firm as soon as possible. The difference is, the only real way of getting rich is to run a successful business unless you are one of the very few exceptions who proves to be indispensable to a company. These people are few and far between.Everyone I know who's rich and I'm talking top end 6 figures and 7 figures in terms of wealth owns their own business and are Managing Directors in the actual sense of the word. It's no shock. When you are in control of your financial assets, obligations and your stability depends on the choices you make it is your responsibility. In the banking world you may see an MD as a top end banker but they're not, they're a highly experienced banker who has now taken upon the role to manage the day to day affairs of the company. Of course you need to know your stuff and that's where experience comes because you want to make profit.

Why do you think so many people and businesses fail?

just lol @ ur posts. Go get jel some more.

A MD and a CEO are roughly on the same level and most use them interchangeably. In banking, it may be different and if that is the case then they're using the term incorrectly. A Managing Director isn't a senior position. It is it's own position. You are a Managing Director responsible for the day to day responsiblilities. In America they're called CEO's. In Britain they're referred to as MD's. That's just the way it is. They both answer to the Board of Directors depending upon the structure of the company.

I know how bankers bonuses work and I don't envy them at all. They work ridiculous hours, some doing 80-100 hour weeks and quite frankly deserve them. I certainly would not work that much to line someone else's pocket and if I was in that field I'd be striving to save up as much money to set up my own firm as soon as possible. The difference is, the only real way of getting rich is to run a successful business unless you are one of the very few exceptions who proves to be indispensable to a company. These people are few and far between.

Everyone I know who's rich and I'm talking top end 6 figures and 7 figures in terms of wealth owns their own business and are Managing Directors in the actual sense of the word. It's no shock. When you are in control of your financial assets, obligations and your stability depends on the choices you make it is your responsibility. In the banking world you may see an MD as a top end banker but they're not, they're a highly experienced banker who has now taken upon the role to manage the day to day affairs of the company. Of course you need to know your stuff and that's where experience comes because you want to make profit.