<p>I'll be frank here. The average kid at my school has parents who make a lot of money. The median is probably above 500k per year. The mean is probably above 1 mil because of a few outliers.</p>
<p>What I've noticed is that people on HSL and CC who didn't grow up around money and success have totally wrong ideas about how to become successful. They tend to think within the box all the time. They want to get a job on wall street, in a big law firm, or as a doctor. Those are 3 great professions, but here's the truth:</p>
<p>The richest people I know are self-starters. They're entrepreneurs, and they don't work within the system. Their academic credentials have no importance, just their drive to succeed. Think of them as "general businessmen." They finance different ventures(some legally questionable) and start businesses whenever they get a chance. They're always, always, always networking. Talking to everyone they meet. Some make 20 mil a year, some more. </p>
<p>This is my public service announcement for the day.</p>
<p>^ this is an important message. a lot of people think "I need to work my ass off in school and then go into medicine, finance, or law."....but perhaps the better path to success is entrepreneurship, and it doesn't require hard work in school at all. granted, you need some capital to start with, and it usually comes from friends or family.</p>
<p>Honestly, I agree with you 100% Not a lot of doctors or lawyers make above the $500,000 mark, but it's quite possible to achieve that if you own a business. Of course it's a very high risk job because if you're a doctor you will always be needed (and also always have an income) however if you own a business you are basically putting your future on the line (especially during the first couple of years)</p>
<p>As we say in Russian, those who don't take risks don't get to drink the champagne.</p>
<p>^ I also agree completely, but sometimes, people are in a profession not to be completely successful, but to fulfill their own wants or desires. Sometimes, the money just comes along ;]</p>
<p>I agree to some extent. Bill Gates and Steve Jobs, they make a hell of a lot more than lawyers, right? The founders of Google, Yahoo and YouTube as well.</p>
<p>But let me ask you something. What is the chance that you will hit it big? Very, very slim. If you're one of those lucky people, then good for you. You've definitely earned it. But not everybody can be successful through entrepreneurship. You say that the richest people you know are entrepreneurs. Hey, me too. But they make up a fraction of a percent. The majority of wealthy people that I know are lawyers, doctors, etc. I'm not saying that you shouldn't try to start your own business. By all means, go ahead. I'm all for opportunism. But you shouldn't rely solely on that. You should always have a backup plan, because the chance of failure is much less than the chance of success.</p>
<p>Of course, money isn't the only measure of success. You don't have to be a lawyer or doctor to be happy with your job.</p>
<p>Or...maybe some people actually want to be doctors, lawyers and so forth because they might honestly enjoy the field.</p>
<p>Whether it be pursuing a career in medicine or law, or pursuing an entrepreneurial career - if either is done in sole pursuit of money with no earnest joy or interest in the field...then it's going to be a rough road.</p>
<p>You have a point; I won't take that away from you.</p>
<p>However, you mention networking ... Ivy League universities are AMAZING in the fact that anyone who attends will most likely get to rub elbows with the brightest/richest students in the country (possibly the world). </p>
<p>And as someone else mentioned, these entrepreneurs are really needles in a haystack - they're hard to find. I'd say they are the exceptions, not the rule. I would much rather play it safe and earn $200, 000 for the rest of my life, than take a gamble, hope I'll be that "needle" entrepreneur and strike it rich.</p>
<p>Another thing to consider is that most of us realize it will take more than a great education to succeed. That said, getting a degree from a top university will certainly give you an edge in ANYTHING you do.</p>
<p>if i remember these stats correctly...90% of businesses fail in the first five years, and 90% of those that survived then go on to fail in the next 5 years</p>
<p>The OP is right to a certain extent. Going to college, working hard there, and networking is a way to make cash. I do agree that social skills and an unwavering resolve to succeed are absolutely necessary in being financially successful.</p>
<p>The chance that a person will get a 2400 on the SAT is .02 percent. But when certain CC members take the SAT, the chance is more like 20 percent that they will get a 2400. Same thing with entrepreneurship( a smart person with a well-conceived plan is NOT facing 10% odds of success. most business starters are idiots, never forget this)</p>
<p>You have a point and I will be frank. I also go to a school where it is unlikely you will find someone not driving a BMW/Mercedes. </p>
<p>I think like a few others have pointed out entrepanuership is one way to "make the millions". I think you will be dismayed when the number of successful businessmen in this "oh so great" economy will be few and far in between. People will be far more successful (in terms of average salary... if you try becoming an businessman and fail, you will be seeing paychecks no larger than 250k) becoming Lawyers, VCs, Ibankers, going into medicine. </p>
<p>Well, the problem is that being an entrepreneur and networking relies on 1) luck and 2) social skills/ EQ, and there's not much you can change about that can you? But ppl feel like they can change their grades.</p>