Can anyone here say they got rich off going to college?

[destination kicks]

You can never tell how well off somebody is by looking at the things that they own.

I know a multimillionaire who takes the bus, and I know plenty of people who drive amazing cars that struggle to get by.

Pushing a 6 figure whip is meaningless, a lot of people just feel the need to project a successful image and are willing to ruin themselves financially in order to do so.

Plenty of people get rich after going to college, and plenty of people get rich after dropping out.

A degree isn't going to make or break you when it comes to being successful.

If you're willing to work towards something everyday, you'll get there one day regardless of your level of education.

Precisely.

And to the guy who mentioned going to a CC… He couldn’t be more right. If you have no idea what you want to study, those first two years at a $20K+ college are almost a waste (aside from the social aspects of a 4-year university). I know in my county in MD, if you have a 3.5 in HS and go to the local community college and maintain a 3.0 you get guaranteed admission and an almost full-scholarship to any public in-state school. I know kids graduating from College Park who’s total tuition cost was like $10K.

Hank Scorpio – Your firm have a RE Investment department?

 

[mivish06]

It's crucial to choose a field of study that's in demand, that way it'll be easier to land a job. Picking a major thats pretty broad in terms of where you can work from what i've seen is not always the best idea. I'm talking majors like liberal arts, english, communications etc. It pretty much becomes a toss-up at that point, where many applicants are filtered out in terms of physical characteristics such as attractiveness, height, race etc. as the technical aspects of the job aren't as specialized.

That's why professions such as doctors, nurses, computer scientists, physicists etc are considered "safe" in terms of job security, they're required for society to function and require individuals with specialized experience and training. These professions however, are definitely very challenging to obtain and require tremendous amounts of hard work, dedication and passion before and after schooling. 

 

[luckyp824]

 
You guys, Mitt Romney also went to Harvard  

Why are you saying that like Mitt's a bad example for Harvard though. The guy was damn near the president of our country. Earned millions in the private sector. Governor. I would guess that he's probably smarter & more driven than most of us.

 

[Hank Scorpio]

That's why professions such as doctors, nurses, computer scientists, physicists etc are considered "safe" in terms of job security, they're required for society to function and require individuals with specialized experience and training. These professions however, are definitely very challenging to obtain and require tremendous amounts of hard work, dedication and passion before and after schooling. 

Some of the professions you mentioned requires post-graduate studies as well. I think this discussion is more in-line with questioning the need of undergraduate studies.

 

[beh235]

It is always funny to me when people say stuff like this because mostly it consists of: My friends dad or my dad or my grandfather.

It was a different time back then....a college degree is almost expected in this day and age at a lot of jobs.

Also: My friends dad makes 6 figures - He is also 50 years old...and has worked at the same company for 20+ years. Of course he makes decent money by now. But you don't get to 6 figures at age 25 in most places it takes time and tenure.

I know our generation (christ and im older 26 years old) is the now now now type. But give it time. When you are 40 years old and still making $60k then you might want to reevaluate things. But have a goal in mind that is actually obtainable and work towards it.

Tell em again

 

[reggiekiller]

if you're 40, and making 60k and you're happy with what you're doing then you're living a great life.

In Pittsburgh 60k can take you a long way....in fact you can life nice in most cities outside of the Boston/NYC/LA/Chitowns of the world off 60K

 

[mivish06]

Besides the MD, the rest can be obtained by a 4-year degree. Difficult to obtain, but from what I know are in demand and hiring. Engineering is good too. 

 

[Hank Scorpio]

Besides the MD, the rest can be obtained by a 4-year degree. Difficult to obtain, but from what I know are in demand and hiring. Engineering is good too. 

If you want to be a physicist and make money--you'll need a PhD.

 

[mivish06]

You might be right, but according to this article it says...

Students with a bachelor’s degree in physics often receive some of the top starting salaries after graduating from college. A survey by the National Association of Colleges and Employers of starting salaries offered by campus recruiters shows that students graduating with a bachelors in physics can make up to $64,000 per year when starting right out of school. More commonly, the survey found that physics graduates can expect a starting salary between $46,000 and $58,000 per year.

http://www.aps.org/publications/apsnews/200911/physicsmajors.cfm

And after working for a few years you'll probably be close to or reach the 6 fig mark.

 

[Hank Scorpio]

Some of those students are being recruited by top financial companies. This is why the numbers seem "impressive".

 

[denni5themenace]

my homie went to college, got his masters and his CPA. started in audit, did consulting work, now is a CFO at an energy company at the age of 28. owns an m3 and just copped an m6 last weekend :x

he's not rich, rich. but homie is definitely doing it.

 

[bamez]

 

 
You guys, Mitt Romney also went to Harvard  

Why are you saying that like Mitt's a bad example for Harvard though. The guy was damn near the president of our country. Earned millions in the private sector. Governor. I would guess that he's probably smarter & more driven than most of us.

Another example of working hard and book smarts > so-called street smarts.

 

[peteweezy]

You can never tell how well off somebody is by looking at the things that they own.

This guy knows. My pops is very well off alot of his friends are as well. Pops goes to the bank and he does get in line with the rest of customers. Bank manager comes out to help everytime he enters the bank. This man drive a 2002 Buick Park Avenue. His good friend drives a used Lexus 350 F sport has a billion dollar company. His other friend whom he and others call "cheap" is the heir to Shlumberger and dude drives an Accord.

Pops told me that more the material things a man has, more the broke he is.

Your pops told you a lie. That's a sounds good comment if I've ever heard one. Just cause you have nice things doesn't mean your rich but it definitely doesn't mean your broke either. I really hate way of thinking where you have to be a millionaire/billionaire or whatever good $$$ situation and live like your making 40k a year smh. That's unrealistic and stupid talk because if that was the case all these luxury ones would be out of business and ill say that everytime somebody wants to come with this millionaire next door flow.

 

[sundoobie]

my homie went to college, got his masters and his CPA. started in audit, did consulting work, now is a CFO at an energy company at the age of 28. owns an m3 and just copped an m6 last weekend :x

he's not rich, rich. but homie is definitely doing it.

Yup I know a few colleagues just like how you describe above in my profession. I stayed in Public Accounting but have had numerous offers to be the CFO for a few of my clients and recruiters.

So use some common sense... do you think these type of executive positions will be offered to someone without a degree?

 

[Chopper]

The O'Jays - *Money Money Money Money, MuhNAY*

Lot easier to stack bread and build a network of connects with a bachelors degree, than without one. Not to mention, lots of cats that start their own companies do it with colleagues they met in the professional world (which they had access to get into as a result of their degree).

Unless you have a great plan which doesn't require a degree, a degree is a good look.

Personally, I haven't figured out a way to stop humping the corporate ladder, and even if I never do, I'll still be retiring at 55-60 with a few mill as a result of being money savvy throughout a ~35 year professional career. Don't think I could say the same if I never got my bachelors.

 

[capital sb]

False.

I will make 200k+ my first year out of my MBA and the only related work experience is a 9 week internship at a different company, where they didn't give me a full-time offer.

Firms want people who will do the best... sometimes that comes from the fresh thinking of people who have not been "trained wrong."

Thats good for you but your major is an exception. 85% of majors will be no where near the 100k and definitely the 200k range coming out of college. So it is still not false. Alot goes into getting a job lined up after college, just graduating and making 200k applies to how many majors? Very few.

 

[eplaya06]

Direct Deposit.

Whatever you do, do it well.

If you work at McDonald's, be the best service person, be the best grill person, or be the best manager.

I never had the plan to go to b-school, but I did the best I could in undergrad (while still having a life) and it paid off when I was applying.

If you are going to take an admissions test, do as well as you can.

Get into a good school and then network.

CEO of Pepsi-Co called me before I even accepted my offer of admission, telling me she was excited I was considering the school and if I had any questions to not hesitate to call her.

Cray.

I'm assuming you're at Yale School of Management.

CMBWHODI and Hank Scorpio, I recently took the GMAT(got a 730) and had some questions about careers in finance vs consulting. Y'all mind if I PM you guys to pick your brain?

 

[Hank Scorpio]

Thats good for you but your major is an exception. 85% of majors will be no where near the 100k and definitely the 200k range coming out of college. So it is still not false. Alot goes into getting a job lined up after college, just graduating and making 200k applies to how many majors? Very few.

The man went to business school. Usually in top MBA programs, they place their first year students in a SA (Summer Associate) role. This is basically like a suped-up internship. They're exposed to all the day-to-day activities at a bank and they do the work of what a full-time employee would do. The only difference between as SA and a full time employee is that the SA stays for only 10 weeks.

The reason why top MBA programs place their first year students in a SA program is because they want to create "organic" employment opportunities for their students. Most companies are more inclined to hire someone they know, especially someone they trained for 10 weeks. It's a lot cheaper to retain those candidates than go out and look for a whole new batch and start the training process all over again.

So, to answer your question--If you go to a top MBA program, the chances of you landing a job that pays VERY well is pretty high if you do everything you're supposed to do.

Aside from the educational institutive activities that's required for students at business, the most vital part of business school is the networking that's involved. You're actually there just to network, to be honest.

I'm assuming you're at Yale School of Management.

CMBWHODI and Hank Scorpio, I recently took the GMAT(got a 730) and had some questions about careers in finance vs consulting. Y'all mind if I PM you guys to pick your brain?

You don't need to ask permission to seek any sort of help or advice from me. I try to make myself available to every member of this community.

 

[reggiekiller]

are yall going to college to get rich, or to find a career that you love?

 

[Majorbread]

you get rich by ultimately living below your means though, college or not

Although lately I've been looking for the PTO, forget the cash lemme get some vacation to blow it

 

[mivish06]

 
are yall going to college to get rich, or to find a career that you love?

Very true. I think folks should major in things they love...but if it doesn't pay them well enough to support themselves and a possible future family, they might have to make some compromises. It doesn't sound right to say, but money is really important and gives you access to a lot of things to make your life easier

 

[reggiekiller]

 

 
are yall going to college to get rich, or to find a career that you love?

Very true. I think folks should major in things they love...but if it doesn't pay them well enough to support themselves and a possible future family, they might have to make some compromises. It doesn't sound right to say, but money is really important and gives you access to a lot of things to make your life easier

supporting yourself, and your family is very different than getting rich.

My parents were never anywhere near rich, my mom was a teacher, my dad was a low level executive at a construction company, but they managed to put me and my brother through college, and we grew up in a $350K house.

no humble brag or anything of the sort.  But if you can do what you love, and make a living, and be happy, then you're already rich

 

[mivish06]

Yeah that's also true, during the majority of my childhood my dad was in school and my mom was supporting us working full-time as a lab technician. I still had a happy childhood, but there were definitely times where I couldn't get those shoes I wanted or a gameboy like my classmates did...and there's nothing wrong with that, I believe it teaches you to be more appreciative of things as you get older. But as a parent I would want my children to be provided for on a scale better than what was raised in. It may not be in the millions, but enough to not have to worry about getting them the birthday presents they want or a membership fee for summer camp and things like that

 

[capital sb]

The man went to business school. Usually in top MBA programs, they place their first year students in a SA (Summer Associate) role. This is basically like a suped-up internship. They're exposed to all the day-to-day activities at a bank and they do the work of what a full-time employee would do. The only difference between as SA and a full time employee is that the SA stays for only 10 weeks.

The reason why top MBA programs place their first year students in a SA program is because they want to create "organic" employment opportunities for their students. Most companies are more inclined to hire someone they know, especially someone they trained for 10 weeks. It's a lot cheaper to retain those candidates than go out and look for a whole new batch and start the training process all over again.

So, to answer your question--If you go to a top MBA program, the chances of you landing a job that pays VERY well is pretty high if you do everything you're supposed to do.

Aside from the educational institutive activities that's required for students at business, the most vital part of business school is the networking that's involved. You're actually there just to network, to be honest.
You don't need to ask permission to seek any sort of help or advice from me. I try to make myself available to every member of this community.

Exactly my point, he is an exception. He is acting like 200k salary after a MBA is something that is guaranteed for ALL majors.The original question was a general  question not directed towards only the extreme cases. IMO college is only worth it if your major has jobs that are in demand and the average salary is 70K-120K.

 

[tsx24]

It is hard to separate college degree=success

You can succeed with or without it but the point of college is to be EDUCATED meaning to be the best you can be and learn and gather as much knowledge in the time of ur college journey. College teaches you the way the world works, the different kinds of views of this world, etc.. there are people who graduate college and are still stupid.

don't go to school dreading everyday and instead embrace it and actually listen to what the professors have to say. They are professors for a reason.

Don't just pass college, take from it everything you can, especially because they are going to be raping your wallet