Anonymous wrote:Thank you for the dose of reality. I am probably a bit older than PP. I played in the Ivy League in the 80's ,and like many of my college teammates made my way to Wall Street and a lucrative sales/trading position. This may seem like a non sequitur, but perhaps not. The appeal in my day of getting into the "club" of Ivy lax was the pipeline to the Street. Gross over generalization, I know. Back then, a plum sales job was an almost certain path to a reasonable amount of wealth.
Circumstances have changed dramatically in the last 25 years. The multi-million dollar cash salaries/bonuses of WS have been replaced by just enough compensation to keep your nose above the water line when the cost of living in NYC is factored (rents, school, taxes, vacations). Goldman Sachs, at the top of the heap, is no more than a regulated bank earning quite ordinary 10% returns. The celebrated stories of hedge fund and private equity Titans have a huge survivor bias. Most of WS is a group of disappointed and disenchanted 40 somethings sleepwalking through life.
Grim picture, but there is a point. Most of these guys would have been better off spending their college years focused on developing a real passion and using the 30 hours spent cradling a ball in the classroom, library or lab. Lax is just a game; one which none of your kids are going to make any money playing.
Interesting post... I will present another view, but I absolutely agree that finding your life's passion is key to success and happiness. My high school-aged son's current passion is lacrosse. Lacrosse has taken a lot of our time and money over the 5 or 6 years he's played but it has also given back in the form of scholarships to a wonderful boarding school and then to college. If he plays in college - great, but if not he will have gotten a free (yes, free as in no cost to us) education at one of the most competitive and prestigious schools in the country. Given current economic realities for college grads in our area, I can't think of a better option for him. And it would not have happened without his passion for lacrosse. I expect him to grow and change and hopefully find new passions that will help him earn a living and find happiness as an adult but I know that he is grateful for the opportunities that have been presented to him because of his passion for lacrosse.
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