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      01-17-2012, 11:48 PM   #36
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Quote:
Originally Posted by Vanity View Post
Just because you have a million dollars doesn't mean it buys you connections and favours with anybody; it just gets more than your foot past the door. And I wish having a million dollars was enough to employ people. At least not here in Canada. Unless, of course, you meant leveraging that million against bank loans.

And lastly, you really ought to be less greedy with your talents. Making a million (in comparison to what people in GS make) is not a life-achievement in the financial industry. A millionaire can't afford the millionaire life-style. You need to be a multi-millionaire to do that. Using your talents in the markets, getting your foot through the door, you might as well use it to make good money in the industry and "be someone with money" and not just "somebody with money".
I can agree with almost all of what you said. The only problem being that you make it sound that the first million is your easiest with things getting harder when it comes to multiplying that money. That's simple not true, in fact it's the opposite... if I had the knowledge to make a million in college, I would have multiplied that money 10 to 15 x by now (all by myself and on my own accord, frankly I have a few ways to that down). All this while employing a few people personally and trying to help them out with their projects.

Quote:
Originally Posted by Vanity View Post
Probably true statistics. But 95% of the people at GS have just jobs. I'm talking about the managers of the employees. This advice really is for not just "getting in" but getting a "career". Like I said above, get a career inside those big names, don't get a job. No one wants to be a desk employee working 9-5 under someone. I'm sure those fund managers all have really interesting stories about success in college, though. A lot of them started companies from scratch, most likely. It's not uncommon for economics or finance undergraduates to participate in programs that initiate entrepeneurial growth. They also have access to sponsorships and etc. You dont need your own money to make a million, but just getting the investments to get there is where most people start.

These are the guys who usually sit at the top of the class in the Ivy leagues across the nation. Thats where GS picks their interns from. That's all I'm saying, really.
Like I said; there are and will always be exceptions. Just remember that in this economic environment in terms of funding and start up capital it's a little more difficult than it's ever been nor is that the best advice for someone who is simply looking for an internship at a financial services company. Let's just put it this way; if he had a million, he wouldn't be asking this type of info to someone on a car forum. If I had a million in college and you told me what you did; then more than likely I'd laugh... although it may not be the same case for everyone.
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