<p>"I can tell you right now, my dad as the CEO of a publicly traded company doesnt make close to 20 million dollars...."- he should definetely take his business elsewhere then unless he's comfortable with that.</p>
<p>Being a former practicing tax lawyer and CPA, I have met a lot of successful people.</p>
<p>College won't make you rich! Get this straight. It will give you some good skills in order to read, write and think coherently, which are all important, but it won't make you rich.</p>
<p>There is an old saying among wealthy people: "If you want to fly like an eagle, you don't hang around with turkeys."</p>
<p>Have you met any rich professors? Case closed!</p>
<p>High five to tax guy! Lol. Most high net worth individuals continue with their businesses rather than teach because it's a passion of theirs despite the massive amounts of cash they're making. i.e.- me :-) entrepreneurship is a PASSION of mine. God's gift to me. I know someone who has a strong thing for like cosmetics and such...she wishes to own her own product line...I wish her the best of luck. If she can focus her energy on it...every fiber of her being...she'll be immensely successful in the business world as well as immensely wealthy. Sephora watch out!! Competition is on the way. :-)</p>
<p>"Have you met any rich professors? Case closed!" yes i do!!My chemistry professor has a plastic company(produces plastic chairs ,tables, garbadge cains...)..Most of my professor have other "stuff" going on other than teaching...another professor that i had , have a company that manufactures hydralic systems ...How can you be so naive to think that a professor only teaches..</p>
<p>"I can tell you right now, my dad as the CEO of a publicly traded company doesnt make close to 20 million dollars...."- he should definetely take his business elsewhere then unless he's comfortable with that.</p>
<p>Well he did resign. He made VERY good money as the CEO and President of that company though. He is now the President and COO of a startup company. While he isnt making as much, he's still doing just as well. Not everyone needs to be like Mr. Blankfein you know...</p>
<p>"I can tell you right now, my dad as the CEO of a publicly traded company doesnt make close to 20 million dollars...."- he should definetely take his business elsewhere then unless he's comfortable with that.</p>
<p>Well he did resign. He made VERY good money as the CEO and President of that company though. He is now the President and COO of a startup company. While he isnt making as much, he's still doing just as well. Not everyone needs to be like Mr. Blankfein you know...</p>
<p>Pateta, I am fully aware that professors have other things going on including consulting. However, I know a LOT of professors and most aren't rich by any financial standard. The ones that have tenure had to do a LOT of reseach and writing. They usually don't have the time and inclination to start and run a business. </p>
<p>Yes, some professors are rich based on patents, inheritance, or some may have had a prior business etc., but the vast majority that I have met are not rich-- period.</p>
<p>I agree that being an entrepreneur is a tremendous way of life. BUT even in entrepreneurship it doesn;t hurt to have a big name school behind you, great schools provide great networks and it doesn't hurt having a Harvard MBA when you are trying to raise capital. If you look at the big winners in this current environment (YouTube- Stanford, Facebook- Harvard, etc) many have people from top schools running them. Its in no way a pre-req, but it sure doesnt hurt.</p>
<p>
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Top exectuives of Yahoo, Google, Microsodt, Dell, etc...all MULTI MULTI MILLIONAIRES OR BILLIONAIRES...
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<p>ok, keep listing. Seriously. There are not many companies like that in the world to be in charge of.</p>
<p>ps I'm pretty sure you don't need a 50,000 sq foot house.</p>
<p>The truth is, it's not that easy to make multi millions, because if it was, more people would be doing it.</p>
<p>Lots of people make multi-millions.</p>
<p>Yeah Forbes 400 is ONLY 400 PEOPLE OUT OF THE 6 BILLION ON THIS PLANET. I would say that's a pretty big anomaly. Major investment bankers (they don't have to be CEOs) make 8-9 figures...look at Frank Quattrone, he took home $120MM last year.</p>
<p>About the top execs at Yahoo, Google, etc, there's probably never going to be another tech boom like that, and they just happened to be in the right business at the right time. Do you think they would have done as well for themselves if they started up in 2002? Exactly. And I'm not sure about the 50000 sqft house (it's NOT quantity of square footage, it's the QUALITY-Donald Trump for example I believe doesn't even live in a 10000sqft house, but his walls are plated in gold-I'd rather live in a 12000sqft house to spare the expense of multiple maids, escalators, etc) but the CEO of google DOES have a private 250 passenger B767.</p>
<p>And Frank Quattrone is how many out of all the world's Investment Bankers?</p>
<p>1 out of how many?</p>
<p>Get realistic. Hate to break your IB bubble.</p>
<p>Like I'd WANT to make $120MM...what the hell would I do with that money? Put down cash for a Gulfstream Jet? But look at Quattrone...he has no family or happy kids, he's under 3 different SEC investigations, he's pretty much got nothing but money. I don't want to be like him.</p>
<p>A couple million would do fine for me. And that's PERFECTLY realistic, considering a second year associate (age 27-28) makes close to $500k.</p>
<p>I am similar that I want to make 5 million before I am 30(not through IB, then say goodbye to USA, its taxes and its living expenses.)</p>
<p>
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About the top execs at Yahoo, Google, etc, there's probably never going to be another tech boom like that, and they just happened to be in the right business at the right time.
[/quote]
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<p>...well... i'm not so sure about that, even as a former investment banker, i'd say that some of the tech guys are poised to do quite well.</p>
<p>look at freakin' YouTube.com for a quick moment - you mean to tell me that a website with a bunch of worthless homemade videos is worth something? I guess so - this little baby sold to Google for a cool $1.65 billion dollars just last week.</p>
<p>something tells me that the death of the tech "bubble" has been greatly exaggerated.</p>
<p>I finally saw a trailer for that movie the other day. Looks awesome ^^^^</p>
<p>I would say $5mm is realistic at 35, although if you're good enough the possibility of making $5mm at age 30 is still there.</p>
<p>Its not easy. I'd say the standard is for people to make about 85K 3-4 years out of a top school, then about 120-220K out of MBA depending on what you go into. After 5 years post MBA it starts to seperate, but many are making 200K+, bankers 300K-500K.</p>
<p>"I would say $5mm is realistic at 35"</p>
<p>Yeah right</p>
<p>I see a reality disconnect in this thread, however nothing wrong with confidence, however few can back it</p>
<p>The late Buddy Rich, the world's greatest drummer, had one of the world's biggest egos, however, he also had THE TALENT to back it</p>
<p>However Buddy Rich was literally one out of a billion</p>
<p>I never said it was easy. I'm just saying that you can expect that kind of money when you're working 90 hours per week.</p>