<p>I realize that this should probably be in the Business Major section of the forum, but I really wanted the advice of some of the older, more experienced CC members. </p>
<p>I am a sophomore student planning to major in either Finance or Economics, and yet I am beginning to have serious doubts about my future. I find the economy and stock market interesting (though its far from being a passion of mine), so I decided to pursue a career in business because of the potentially lucrative job opportunities. Plus the idea of doing something like being paid to travel to make financial deals for my company always seemed like a rather exciting lifestyle.</p>
<p>However, I have read stories about people investing 70+ hours per week for years of their life into the company in an attempt to move up the corporate ladder; neglecting their kids and their families. I also watched my step brother barely have any time to sit and relax on Christmas day because he had so much work to do for the bank (not sure exactly what his job is). Ultimately, I have begun to realize that I do not want my entire life to be spent in an office, with no time for any of the things that I enjoy. Money is important, but it is no longer everything to me. </p>
<p>So my question is, can you actually be a successful businessman without being consumed by the business world? Or are all the guys that only put in ~50 hours per week doomed to low salaries and cubicles for the rest of their lives?</p>
<p>You can live a very middle class life (sans cubicle) without having to work killer hours. Will you be a top investment banker in NYC with million dollar bonuses or a top lawyer at a national law firm without having to put in lots of hours? No.</p>
<p>It seems your passion isn’t there if you have a step brother in banking and don’t know what his job is. In general, it’s hard to be very successful at anything you don’t have passion for. There are few 40/50 hour per week jobs that will make you wealthy, but plenty that will provide a decent living. It all depends on your expectations.</p>
<p>I agree, it certainly isn’t my passion. Its more like a, “I think I can do this, and not hate it,” type of thing.</p>
<p>My true dream is to either be a script writer for TV shows/films or at least work for a major doing something along the lines of production. However, this is a lot easier said than done since there is a much larger chance of failure than success. Still, I have considered pursuing this route, but I’m paying for college almost entirely on my own and am looking to be financially independent as soon as possible. This is another reason for me pursuing a business major.</p>
<p>Anyway, by “successful” I don’t necessarily mean massive salaries and wealth, more along the lines of upper-middle class income.</p>
<p>" Anyway, by “successful” I don’t necessarily mean massive salaries and wealth, more along the lines of upper-middle class income."</p>
<p>If this is the goal and you want 40 hour week, get digree in IT / Computer science - one of the majors in Business school. They predict higher demand in this field in next few years. Job is very interesting and pays sufficiently, but not top $$. Hours are flexible in most places with possibility to work from home at least some days of the week, both of which are nice when you have kids.</p>
<p>Orange- the simple answer to your question is “of course”. The world is filled with successful business people who are also Girl Scout troup leaders, volunteer at their local hospital, raise nice kids, serve on the board of many fine charities,etc. Some of them even vacuum and manage to get dinner on the table most nights.</p>
<p>The harder answer is “it depends”. Much of it is luck- who you end up marrying, the type of family support you are able to garner while you are raising kids, the values of your boss and bosses boss during those child-rearing years, how much energy you have, your health, etc. Some of it is choice- make some sacrifices some years (lots of travel, lots of face time in the office) which can pay off in a job with less travel, more money, less face time.) Much of it is your attitude-- I’ve known people who believe themselves indispensable; they spend their vacation at the Grand Canyon looking for a cellphone signal so they can call the office. And frankly- some of it is talent. There are some people who are just better at whatever it is than others- and so they don’t have to kill themselves to get where they want to go.</p>
<p>You are way too young to be worried about all of this. You should be exploring your interests, developing your intellectual curiosity, and let these issues sort themselves out down the road. Just my opinion…</p>
<p>“I agree, it certainly isn’t my passion. Its more like a, “I think I can do this, and not hate it,” type of thing.”</p>
<p>You’ve set the bar too low for your career. Even in business there are enough options for you to be able to find something to do that you at the very least enjoy.</p>
<p>Think about it: At the least, you’ll be spending 40 hours a week working, and doing this for decades of your life. Do you really want to spend that time doing something that you “don’t hate”. </p>
<p>Take the time to explore your various interests, and then find something that you can earn a comfortable living at doing while also enjoying it.</p>
<p>Orange - I can’t recommend an area of college study for you. But I can recommend working a variety of jobs while in your twenties. One successful businessman I know worked in a shoe store for a year. He told me the experience was invaluable. Go figure.</p>
<p>Pretty much. Success is often directly related to how badly you want it. Pretty much everyone I know that “made it” put in many extra hours every week.</p>
<p>So much depends on the employer. Look at the culture at the company you are interested in working for. Choose your company carefully. Even in businesses known for working people to death, you can find successful smaller firms that give you quality of life. </p>
<p>My husband works in a business known for working through the weekends, 14 hour days. When we first had our child, he disliked how he mostly saw her when I would bring her in for lunch or when he would come home for dinner before going back to work. It wasn’t something he wanted for a lifestyle.</p>
<p>A few years later he started his own company. As a rule, he wants his employees to work an honest 8 hour day and be home with the family on the weekend. He closes the company for the week between Christmas and New Year and that time does not come out of your vacation days. Lots of flexibility for seeing the elementary school special events. If one’s wife and kid are home sick, he expects you to go home and take care of them.</p>
<p>He has the most loyal employees. Former employees are frequently back in touch, asking for their job back. They didn’t know how good they had it.</p>
<p>All this is great for his bottom line. He has very little turnover and they work effectively together. Work comes to them without having to go out looking for it. By any definition, his company is successful.</p>
<p>Straight out of college, you can have a lot of fun doing it while you have a minimum of entanglements. Pay off your student loans, and build a nice savings towards a house. When home life becomes more important, you may be able to find positions that are less lucrative, but still pay a decent wage, and will allow you to spend more time at home.</p>
<p>I did that. I went from the private sector to the public sector. I think I lucked into it, but it happens.</p>
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[QUOTE=Orange44]
I agree, it certainly isn’t my passion. Its more like a, “I think I can do this, and not hate it,” type of thing.
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<p>I would seriously rethink going the finance/business route if it is the money you are after. It is hard to put in the 70 hours a week if you don’t enjoy what you do. It is also hard to find someone willing to pay you to work 70 hours a week if you are not great at your job.</p>
<p>Depends on the definition of success. If you define success in terms of monetary wealth you put in more energy to get more money. If you have other definitions you devote your energy to meeting those other goals. Business is about making money. There a lot of people who feel far more successful without much money because they had other goals- think of many college professors or others good in their field in many other occupations.</p>
<p>well, OP i am 50 with plenty of money, but that doesn’t mean i didn’t work hard. I worked excessive hours to earn the ample money I have now. Without persistence and hard work you will most likely have to settle for a lower-class, working class life (that is fine if you are into that). It is all up to you, i just think your being lazy :/</p>
<p>Will you be happy if those around you are progressing faster than you are? It is not uncommon for the entry level years to be the ones where the longest hours are worked. That said, my experience in the government was that I was promote rapidly, given responsibilities, and then was able to leave when I leveled off. During the time there hours were usually good, with some seasonal long hours at the end of a fiscal year. After that I did not have to work long hours unless I was trying to move up again. Each company will be different as to what is expected to be promoted. But you can also leave if it does not suit. . </p>
<p>Agree it is early to worry about that. Become very good at what you are going to do. That is the best way to determine your own future.</p>
<p>Thank you all for the replies so far. I think the problem is that I’m not sure of what I truly want. I have always known that I didn’t want a “cubicle type” job when I was older, and would prefer to major in something in the humanities to improve my writing ability and perhaps study some fascinating material as well. </p>
<p>However, I also don’t want to worry about not being able to pay off my college debts because I can’t find a suitable career. I have thought about graduate school, but as I said I’m already paying for college almost entirely on my own, and I have no idea how I would afford graduate school in addition to my undergrad debts. My greatest fear is waking up one day as a 28 year old with no career, still living in my home town with my parents because I can’t afford anything else.</p>
<p>I realize that in today’s economy even a business major is far from secure, but it definitely seems a lot safer than something like an english major (unless you’re at an ivy league school I guess…).</p>
<p>Note that production companies, theatre, movies, tv etc., need sound business management. </p>
<p>Generally the more hours you work, the more successful you are. However you do not have
to kill yourself for a career. Most companies iin the US expect a 50 hour work week from mid-level business associates(accountants, purchasing agents and managers) and technical staff (engineers, scientists, and computer programmers). You will not get to be CEO working those hours but you can survive and even thrive. </p>
<p>I recall a conversation I overheard beween two lawyers and a doctor. The lawyers were giving the doctor a hard time about medical salaries. He finally replied, almost shouting; Yes I make a lot of money. If I spent this many hours a week manageing a D$@## carwash I would make a lot of money. </p>
<p>I know of fork truck drivers (not autoworkers!) that sometimes make over $100K a year in wages. They are cross trained in every hourly job in their employers plant, never turn down overtime, and work holidays. They do not do this every year.</p>
<p>If you’re thinking about going into business mainly for the dollars, you might want to reevaluate (unless you think doing so would be the most exciting thing in the whole wide world!). </p>
<p>Chances are you’ll have to start out in a cubicle or perhaps a retail store. Eventually you may get the chance to travel, as mentioned in your original post. Travel can be fun at first, but it gets old. H is in upper level management and is gone an average of one night per week. Travel pushes his time up to at least 60 hours per week.</p>
<p>I am the co-owner of a 22 year old business, attend college right now (business major) and I homeschool my children. If that isn’t busy then I don’t know what is. lol! But I do many, many things and the business is 24/7 since I’m co-owner and I’ve managed to get it all down to a good routine each day.</p>
