Reply to Steering child to a high-paying career?

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[quote=Anonymous][quote=Anonymous]Nothing wrong with talking about what type of lifestyle he wants to live and how he support that. Ideally, he will find a career he loves that allows him to live comfortably and happily. That’s hard to find though. He may have to compromise and explore careers that may not provide everything he wants but pay well.

Careers that pay well include Medicines, Investment Banking/Hedge Funds/Private Equity, Consulting, Law, and Tech. However, for most of these, you have to be in the top quartile of the firms, and inside the firms, you have to be in top quartile of employees. For example in Consulting or Law, you have to be a Partner at a top firm to make $2M-$4M+ a year. [/quote]

I don’t know why people talk about lawyers making 2-4 million.  That’s less than 1% of lawyers.  It makes more sense to discuss the 99% who don’t make 7 figures.  I wouldn’t persuade my child to into a boring field of law because it’s a high salary.  A state prosecutor or public defense attorney both start with low salaries but if that’s what your child is interested in that’s what they should do.  I know plenty of attorneys on the low end of salaries and they have houses!  Even summer cottages!

Tech is something your kid already knows if it might be something he’s interested in or definitely not.  [/quote]

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