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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The obsession with STEM, with CS, with Wall Street, with Investment Banking “target schools,” with MBB consulting, with Silicon Valley, with Ivies, with T10s… I don’t get it. I was a first-gen, low-income kid at an Ivy (went for free) and double majored in psychology and philosophy. I never once did a corporate internship in college and worked at an NPO for a few years after graduating. I got a PhD in Psychology afterwards and make around ~$180k/year in private practice.

I met my husband in college (also a poor kid on a full ride), and he double majored in visual arts and English. He went to law school on a large merit scholarship and is now a GS14. Sure, our combined HHI isn’t nearly as high as many people on this board, and a lot of our friends from college who went into more lucrative fields outearn us significantly. But it’s enough to give us a nice life in NoVa and fully fund our two kids’ 529s, retirement, our mortgage, and send some money back to our parents.

So what gives? Why are so many people on this forum obsessed with ROI and making sure that their kid makes as much money as possible? [/quote]

You apparently learned nothing.  People follow their minds/hearts on what they want to do.  The maximum options is the best way to proceed.  And why would someone not want to make a lot of money?  Money is useful.  [/quote]

What is very odd about the folks on this board, is that they seem to have the "right" way to become wealthy and the "wrong" way to become wealthy.

The right way is to be a drone at an IBank, P/E, Law Firm, Silicon Valley, etc. where it is a "low-risk" proposition in that you are paid well all along the pathway.  Of course, many of the kids going this route don't do it because they have any interest or passion for the work (how could you...the work is mindless), but they know it is a path to $$$s and it really is just outlasting the competition.  The churn rate is massive during the early years of these professions, so you just have to eat s**t and bear it.

Now, mind you in law, IBank and P/E you get to a level and there are execution partners/MDs who have to do the grunt work of getting the deal done, and there are relationship MDs/Partners who are way more valued because they actually bring in the clients.  You will of course be pissed to know that the relationship guys will be the D1 athletes that spent time building the connections and having fun...but that's life.  Mind you, the relationship folks probably get paid a factor of 5x the execution folks.  Execution people are a dime-a-dozen, but if you can "sell" business you are invaluable.

Even posts regarding Tech sound much more like trying to achieve Middle Management at Initech vs. god-forbid your kid deciding to ditch the corporate life and create a start-up.  Does not sound like many future Zuckerberg's are in this group.

I finish with an interesting little story.  Girl I knew, yes from an Ivy, was an English major.  She was obsessed with Hollywood and screenwriting and quite motivated.  Headed out to LA after graduation and started at the bottom with no connections...other than alumni who (no surprise) held some interesting positions and were willing to lend a hand.  Fast forward, and she ended up being a Show Runner for a top TV show for many years and getting a piece of the show (and it happened to be one of the shows with multiple offshoots).  I would imagine her net worth is in excess of $100MM.  I assume that qualifies as UC in everyone's world?

Of course she got wealthy the "wrong" way because there was no safety net and she made peanuts for many years as she clawed her way.  If your kid is passionate and has drive and work ethic, then that is worth 1000x just about anything else

[/quote]

I agree with you.  Entrepreneurship is a core American value.  It’s so weird that folks just want their kids to be line level employees not founders and creators.  I think it is largely wealth insecurity of the parents.[/quote]

Hardly anyone is cut out to be an entrepreneur. It’s very very tough and most of them fail numerous times before succeeding. If your kid is not that type of resilient, risk-taking personality they are far better off being line employees.[/quote]

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