<p>I'm not saying Gates and Buffet are greedy pigs, but their pasts show that they sought to gain the most money personally. </p>
<p>For example: In his mid-20s Warren Buffett quit working for the legenday Benjamin Graham. While he loved working for Benjamin, he knew owning his own investment company would be more profitable for him.</p>
<p>For example(2): Bill Gates steering Microsoft away from being an Apple sub-contractor to becoming the dominant programmer of operating systems.</p>
<p>Also Jonathan: First year IB analysts make more like over 100k their first year. 120k-140k a yr isn't unheard of either. Also, many IB have a roomate and get a nice place.</p>
<p>A few corrections if you don't mind. Microsoft was never an Apple sub-contractor. Microsoft was originally hired to write the operating system for the IBM personal computer, which was launched in 1981.</p>
<p>IBM--in one of the greatest mistakes of the modern age--failed to procure the exclusive rights to the software Microsoft produced. This enabled Microsoft to then sell it to PC clones that spouted up soon thereafter. Some of the better known of these PC clones were Dell, Compaq (who merged with Digital, which was later acquired by Hewitt-Packard), and Gateway. Most of these people actually came to Microsoft--not the other way around.</p>
<p>Gates never even wanted to write an operating system. His original plan was to write business software--like Microsoft Word and Excel. The operating system thing (MS-DOS later replaced by Windows, XP, NT, and now Vista) came later. He actually decided to continue to write the operating system because it was a way to make sure people would use his business software.</p>
<p>As far as Buffett, he quit working for Graham because he didn't want to stay in New York City or Philadelphia. (Graham taught at Wharton). He decided he knew enough to start his own firm, but decided that he would do it in Omaha, Nebraska because he and his wife loved it there. He actually never expected to do very well in his business once he moved (at least that's what he said), but it just kept growing and growing and growing--and he and most of his investors hardly ever took any money out--and everyone he knew kept wanting to put money in. So much for your theory on how things happened.</p>
<p>Also, in TV interviews done with Gates and Buffett in 2004 and 2005 at the University of Nebraska, they both argued that the tax code changes that the Bush administration pushed through helped them tremendously money-wise, but that they thought the tax changes were stupid--and unnecessary--and should be repealed. They said the helping of the wealthy like themselves to get more money through government "subsidies" like this at the cost to those who had less money was a travesty and they encouraged politicians to not pass laws to make them permanent. </p>
<p>So much for your argument on them always wanting more money.</p>
<p>P.S. On your advice above, the average is $88K for first-year analysts (not too far off of your $100K)--and that includes the bonuses--which is usually around $30-35K of that. $140K is more like for 3rd to 4th year people.</p>
<p>One final note:</p>
<p>Not everyone who makes money is noble or selfless--I agree with you there.</p>
<p>While you can see that Gates and Buffett seem to pretty good guys in my opinion, there is a certain individual that works at a large ERP company in Redwood City, California that is pretty much considered to be a terrible person to know or work for--even in the eyes of his closest employees. </p>
<p>Nevertheless, even he had a passion to produce ERP software, and was obviously successful at it. And while he may have expected to make SOME large amount of money, I don't think he ever expected to become a billionaire as a result.</p>
<p>A sideline story: This individual has had a long-standing feud with Gates, but about four years ago decided to "bury the hatchet" and invited Gates to visit him at his home. Gates made the trip from Seattle, but when he arrived, this individual decided he wouldn't allow him in, nor would he come see him or even acknowledge he was there. This individual had "changed his mind". Gates left and the feud continues to this day--well according to this individual anyway. Personally, I doubt Gates cares very much one way or the other.</p>
<p>And who is this individual ? Is he the guy that didn't get the IBM contract because his wife wasn't interested (or something like that) and IBM approached Gates instead ?</p>
<p>you have to work hard to make money... </p>
<p>very very few jobs pays 360k per year.
if you really get paid 360k per year for being a actuary then take the 8 years.
most people in the business field dont reach that much money but if they do it takes many many years of experience.
so those 8 years might not be that bad.</p>
<p>if she doesnt want to spend the time and to hard work then i dont know what to say, tell her to settle for much less.
most people dont even make 70k per year.</p>
<p>Entrepreneurship is the way to go. Biggest risk, but the also the biggest potential payoff. (that's generally the way it works)</p>
<p>Illegal businesses are even more risky, but they are also even more lucrative. Amsterdam is the world's top exporter of E. Given this "friend's" math aptitude, she could perhaps apply that ability to the business of opening an underground chem lab, or perhaps designing refined versions of the drug. Amsterdam is like the silicon valley of the drug industry, so there will be no shortage of very capable chemists willing to offer their services.</p>
<p>The person above has the initials L.E., is a billionaire, and runs a large ERP software company in Redwood City. That's as clear as I'm going to make it for you? I'm not going to mention names of people I'm being critical of (and who might want to sue me or collegeconfidential) on here.</p>
<p>Go check out the Fortune Richest 400 list--that should make it pretty obvious.</p>
<p>I don't think Gates wrote much of the IBM code. They bought a program from another guy in Seattle and that was what they gave IBM pretty much.</p>
<p>When Gates was approached by IBM, Gates was 24 or 25 years old, and didn't know a lot about writing operating systems, so this makes sense. Thanks for the insight and great research, barrons.</p>
<p>Cal I remembered only that he was originally working for another tech-giant who wanted him to write software/OS and that he eventually went on to sell operating systems instead of his original products.</p>
<p>Buffett and Gates (even though we disagree about their wealth aspirations) are probably the best example of rich people with a conscience. There are numerous other wealthy people who spawn immorality by their power and influence. Paris Hilton comes to mind(rich spoiled brat.) </p>
<p>I would agree however that those who earn the money themselves tend to be more responsible and reasonable(Buffett, Gates,etc.) Those who I hate the most are the rich who inherit everything, work for nothing, and blow it all during their lifetime.</p>
<p>I agree about the comparison of those who inherit vs those who earn. However, Paris Hilton isn't just some "rich spoiled brat". She's a "rich spoiled brat" that has earned a hell of a lot more than she has spent.</p>
<p>Well Paris Hiltons' means of gaining that were a little less than professional. I'm sure you would agree Vector that if you were a rich hotel tycoon that you wouldn't want your daughter to be making sex tapes to make a little money. Or maybe I'm the only one who wouldn't want my daughter doing that if I was her father? </p>
<p>I don't know? :)</p>
<p>Paris Hilton was able to use her pre-existing wealth to become a celebrity and earn money. Without the rich girl background nobody would have cared about PH. She'd be just another blonde slut.</p>
<p>
[quote]
Paris Hilton was able to use her pre-existing wealth to become a celebrity and earn money. Without the rich girl background nobody would have cared about PH. She'd be just another blonde slut.
[/quote]
</p>
<p>If I had a dime for every rich blonde slut in this world I'd be a rich man. Unfortunately, most of these girls just waste their daddy's money, which is not the case with Paris Hilton. She has actually made her own money. That is my only point.</p>