My entrepreneurial thoughts on "elite" schools.

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username3457004
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I feel that nobody should go to university, or even do A-Levels. With a Job you are only limited to a max salary, and I feel that this does not really correspond with the amount of work you put in, for example if you are generating £2,000,000 of income into the establishment you work for, but are only getting paid £75,000 a year then your really not getting what you deserve, yet if your a business owner you always get what you have earned. And I feel a lot of the people who go to the elite schools are the ones who have the potential to actually dominated in business, but they choose to get a job. If you look at the universities that produce the highest earning graduates, you would think it would be the ones that are the hardest to get into right? Wrong, London business school is currently number one by far, this shows people who go to the best universities work the hardest, yet because of there parents dreams for them to become a doctor, lawyer or whatever. They do not choose the right career, as they choose a path that limits there salary no matter how hard they work. In essence they are "barking up the wrong tree" if your reading this and are one of the few who work hard enough to be able to go to oxford, Cambridge etc. Then my advice to you would be don't get a job as yes you probably will be successful in the job world to depending on what you define as success, if you worked that hard on a business I can almost guarantee that you will be making a lot more, although it is just an opinion.
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LeapingLucy
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I think there are several problems with your argument.

First of all, you assume the majority of people are motivated by the pursuit of money. What about people who have different career goals? For example, what about people who want to work in a field like international development? That is not a field in which you can start your own business - you need to either work for the government (in DfID) or for an NGO. What about science graduates who want to undertake research? They're unlikely to be able to afford their own lab - they will need to work either for a company or a university.

I presume that you're talking more about econ/finance graduates. But the problem is, is there enough room in the market for every Oxbridge/Cambridge/LSE/UCL graduate in these subjects to start their own investment company? The market would become saturated, and only a few would be able to break through and start earning the sort of money you talk about.
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username3457004
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(Original post by LeapingLucy)
I think there are several problems with your argument.

First of all, you assume the majority of people are motivated by the pursuit of money. What about people who have different career goals? For example, what about people who want to work in a field like international development? That is not a field in which you can start your own business - you need to either work for the government (in DfID) or for an NGO. What about science graduates who want to undertake research? They're unlikely to be able to afford their own lab - they will need to work either for a company or a university.

I presume that you're talking more about econ/finance graduates. But the problem is, is there enough room in the market for every Oxbridge/Cambridge/LSE/UCL graduate in these subjects to start their own investment company? The market would become saturated, and only a few would be able to break through and start earning the sort of money you talk about.
I do believe the majority of people are motivated by the pursuit of money, would the people who have different career goals such as your mentioned ones really be chasing after them if they did not make a single penny from it? If they really were not motivated by money then I could almost be certain that they would not be in an oxbridge university, you don't need any GCSE's to work in a charity shop. And I believe every area has the potential for business, like with internal development, I just read that's the rate of development on an international scale? (correct me if I'm wrong) Why can't you start a business teaching computer science to children in third world countries and use donations as a source of funding? Any field is only limited by your creativity. And no science graduates who want to undertake research are not going to be able to undertake research straight away, but how do you think those labs get there in the first place? It was probably a science graduate who gathered investors and influenced them that the research that they are doing is worth there money. Which any science graduate is capable of doing. And no there is not enough room for each and everyone one of them to start there own business, but that's the point. Business is a competitive environment,
the ones who have succeeded are the ones who have delivered the best service, so if there are many graduates in the market then it wouldn't really make a difference it's only if they are an actual competitor. And the ones who 'break through' are the ones who have worked the hardest to get there, so they are the most deserving ones. If there are more people there it just means everyone is working harder meaning society will benefit from it, and the ones who are successful are the most deserving ones, meaning it's more of a positive then a negative.
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LeapingLucy
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(Original post by TheCoolStool)
I do believe the majority of people are motivated by the pursuit of money, would the people who have different career goals such as your mentioned ones really be chasing after them if they did not make a single penny from it? If they really were not motivated by money then I could almost be certain that they would not be in an oxbridge university, you don't need any GCSE's to work in a charity shop. And I believe every area has the potential for business, like with internal development, I just read that's the rate of development on an international scale? (correct me if I'm wrong) Why can't you start a business teaching computer science to children in third world countries and use donations as a source of funding? Any field is only limited by your creativity. And no science graduates who want to undertake research are not going to be able to undertake research straight away, but how do you think those labs get there in the first place? It was probably a science graduate who gathered investors and influenced them that the research that they are doing is worth there money. Which any science graduate is capable of doing. And no there is not enough room for each and everyone one of them to start there own business, but that's the point. Business is a competitive environment,
the ones who have succeeded are the ones who have delivered the best service, so if there are many graduates in the market then it wouldn't really make a difference it's only if they are an actual competitor. And the ones who 'break through' are the ones who have worked the hardest to get there, so they are the most deserving ones. If there are more people there it just means everyone is working harder meaning society will benefit from it, and the ones who are successful are the most deserving ones, meaning it's more of a positive then a negative.

You are incorrectly oversimplifying my argument.

1) Obviously, people want to be able to earn enough to live comfortably, but once they've reached that point, many other factors come in to play, such as fulfilment from the work they are doing, work-life balance, or a sense that they are doing good work. This is called 'post-materialism' - google it. There's a substantial body of literature that has been written about it.

Also, your premise that if people were not motivated by money they would not go to Oxbridge or other top universities is completely stupid and a logical fallacy. Many people go to top universities to learn - they are motivated by their passion for their subject and their desire to learn more about it.

2) A key problem with your argument is that you are ignoring economies of scale. A government department, with a huge budget, or an NGO, with a very large amount of funding, will be able to have a far greater effect proportional to the money it has than small one-man businesses relying on donations. International development requires centralised planning.

And furthermore, my point about market crowding stands here too. If everybody interested in international development started their own donation-funded small business, many of these 'entrepreneurs' would fail almost immediately as the amount of money people are willing to donate to charities will not be infinite.
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gr8wizard10
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risk aversity bud
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