<p>Originally, I was prepared to go into ibanking, but after hearing oh so many horror stories online and from friends... it doesn't seem to be worth it all that much anymore.</p>
<p>Ideally (don't laugh now...), I'd like to be a management type position where I'd be able to be assigned to projects, and do them. I don't mind if it's selling a product or talking with a client. I've been around the world a lot and I'd love to be one of those that travels around the world and makes deals. I'm generally a good talker / seller and I'm fluent in Chinese and English, with knowledge in Japanese, Korean, French and Italian. I'd like to put that to use somehow... The bad news is, I'm not sure exactly if those kind of jobs</p>
<p>1) exist
2) probable</p>
<p>Money, really isn't too much of an object for me. I'd ideally like to be making 40-60 when I graduate, and be able to actually move up, and possibly make 6 figures after 5-10 years. Also having a social life is sorta important to me... (hence why ibanking wouldn't work too well)</p>
<p>Originally, I was planning on first getting into a Top school like UMich, then hopefully internally transfer into Ross, land an IB job, work two to three years hard, and then go to a school like Wharton to get my MBA. From there, I'd like to do what my dream is to do...</p>
<p>So, tell me, is that even... viable? While I don't mind giving up hours to work, I don't want it to all consume the rest of my life. I'd like to live in an upper middle class setting, and other than that... I really don't care.</p>
<p>You know, after having done as much reading and thinking about the same thing as I have, in the end, I think having a track laid out is ultimately worthless.</p>
<p>I've always been an overly ambitious person, but my action never measured up to those ambitions. I was that kid in 6th grade saying, "Well, I'm gonna work hard in middle school, go to high school, get straight A's and my 3.8 there, take AP courses, get above a 1450 on my SAT, join my tennis team and become varsity member, then ease my way into MIT or Harvard. Maybe UPenn as a safety. Then go onto become one of those big, bad, rich Wall Street guys like Michael Douglas in the movie of the same name (Wall Street, then live out the rest of my life rolling in cash." Lol... It was pathethic once I realized that I never lived up to those grandiose ideas. I was naive.</p>
<p>I'm not saying having a plan is bad, but I think you just take things as they come. Don't plan too far ahead because then you'll just set yourself up for failure, like I did. Could you make 6 figures after 5-10 years? Very possible. But to be in any sort of management position as you mentioned, it's gonna take years of long work. Traveling around the world and pitching/selling ideas to clients is usually reserved for top brass.</p>
<p>Making 40-60 right outta college is very realistic. If you want to go into auditing, accounting, financial analysis, then you'll be working close to 40-50 hours a week, making an average of around 55k with plenty of time left over. But keep in mind, for most people doing stuff like auditing is very boring. Most people I assume do it because they have to...pay the bills, loans, etc.</p>
<p>Ultimately, my advice is to just focus on the important things now and the rest will fall in place as you learn more.</p>
<p>Thanks, I was mostly just wondering if there was a position like that even... there. I know that generally laying out a strict plan isn't too smart, but I'd like to get an idea of where I'm going in life, even if it's just an idea. </p>
<p>that being said, I recall when I was flying home from HK this summer, seeing this Chicago business man, we were both stuck because of high winds / storms in the region, and he goes to the hotel clerk, and is like "put it all on the card, I'm gonna be needing room service tonight"</p>
<p>I just thought that was the coolest thing I ever saw.</p>
<p>
[quote]
But keep in mind, for most people doing stuff like auditing is very boring. Most people I assume do it because they have to...pay the bills, loans, etc.
[/quote]
What background in accounting do you have to be able to say something like this? Because of technology, the old stereotype of "accountants are introverted number-crunchers" is changing. Public Accounting is a very people-oriented job, and from what I've heard from teachers and friends is that studying accounting is indeed boring, but the work itself is quite exciting. Also, the exit opportunities are excellent for those that have big 4 auditing experience, as you gain so much exposure to different industries.</p>
<p>
[quote]
Thanks, I was mostly just wondering if there was a position like that even... there. I know that generally laying out a strict plan isn't too smart, but I'd like to get an idea of where I'm going in life, even if it's just an idea.
[/quote]
Consulting seems like an ideal career for you as it involves a lot of traveling and human interaction. The avg work hours are less intense compared to IB, but you still have to put in an avg 60 hrs a week. I think in order to succeed (ie make a lot of money) in any job, you have to be willing to work hard. </p>
<p>
[quote]
Ultimately, my advice is to just focus on the important things now and the rest will fall in place as you learn more.
[/quote]
My old boss from work used to say something like this...She is currently a 45 yr old single mom, making 30,000 a year;)</p>
<p>I doubt Bill Gates ever had a plan about dropping out of Harvard to start a fledgling software company until his junior/senior year. Larry Ellison as a matter of fact dropped out of U. of Illinois and migrated to California before starting Oracle. My point being, each person has his own formula for success; they just have to find out what it is. What works for someone may not necessarily work for another.</p>
<p>For a student in HS, I think studying and getting good grades is more important than getting caught up in figuring out what his career goals are going to be.</p>
<p>And who are you kidding? I think few people view work in accounting as exciting. From all of the graduates I have kept in touch with who are at the Big 4 now, they relayed to me that theirs is simply a job. It might be exciting, but I think the initial novelty of accounting would wear out very quickly save those few diehard accountants. And having taken a variety of accounting courses as a part of my finance major, I can safely say even with today's technology, it is quite mundane. Imo of course.</p>
<p>btw, if your old boss was making 30,000/year, what in the world did you make?</p>
<p>I'm 18, I'm a Freshmen at a Tier 2 college, hoping to transfer into University of Michigan my Sophomore year for Fall 2007, do well, and internally transfer to Ross. ideally 2 years of probably Ibanking to get started, and go get my MBA at Wharton. Ideally ;p</p>
<p>Of course that'll probably not happen. Consulting eh? The general thought of that seems to be like it's for older and more experienced folks? (I mean that in the way that, I have a friend's uncle who's a consultant only after doing a lot of management and stuff, he's in his 50s right now)</p>
<p>A friend of mine at Penn (not Wharton, he's an architect major) accepted a job offer as management consultant last fall. He'll be working there after graduating this spring. Pay is very close to 6 figures, and from what he told me he'll be doing lots of traveling. I also think he said he can rise as high as associate without MBA, and in a few years be pulling in close to low 200k.</p>
<p>Lots of Ivy grads this year seem to be getting offers from consulting firms. The economy is looking very hot as of right now. Could change in a few years. UMich is indeed a great school, but I'm not sure how much weight its name carries when it comes to i-banking..</p>
<p>
[quote]
if your old boss was making 30,000/year, what in the world did you make?
[/quote]
This was a boss I had back when I was in high school. I was talking to him about college, future careers, etc, and then he told me to "not think much into the future and live for the moment." </p>
<p>
[quote]
And who are you kidding? I think few people view work in accounting as exciting. From all of the graduates I have kept in touch with who are at the Big 4 now, they relayed to me that theirs is simply a job. It might be exciting, but I think the initial novelty of accounting would wear out very quickly save those few diehard accountants
[/quote]
And what, in your opinion, is an exciting job? Putting together pitchbooks for 15+ hours a day?</p>
<p>
[quote]
And having taken a variety of accounting courses as a part of my finance major, I can safely say even with today's technology, it is quite mundane. Imo of course.
[/quote]
If you read my post, I also stated that the STUDY of accounting is boring.</p>
<p>
[quote]
Ideally (don't laugh now...), I'd like to be a management type position where I'd be able to be assigned to projects, and do them. I don't mind if it's selling a product or talking with a client. I've been around the world a lot and I'd love to be one of those that travels around the world and makes deals. I'm generally a good talker / seller and I'm fluent in Chinese and English, with knowledge in Japanese, Korean, French and Italian. I'd like to put that to use somehow... The bad news is, I'm not sure exactly if those kind of jobs</p>
<p>1) exist
2) probable
[/quote]
</p>
<p>You may want to look into management consulting.</p>
<p>With global business, more and more companies need employees that speak many languages. If you like the idea of an I-bank you could look into M&A companies, more and more M&A's are occuring between companies across the world and fluent employees are in high demand. </p>
<p>IMO Vault guides are not a waste of money because most business schools offer them free to their students and their costs are built into tuition. You gain more value out of your tuition if you use the resources your college provides.</p>