[RYCeT]

Quote:

Originally Posted by skyline889 /img/forum/go_quote.gif I understand college is important but I don't know, it just doesn't really seem like it would work for me. I guess I'll give it a try for a year and see how things work out. Thanks for the college suggestions guys but I'm already a senior so I have like one day left to decide between UO, OSU, and UP. (That should give you an idea of how not looking forward to this I feel )

Well, college is important, this is coming from someone who have tried anything to avoid going back to school. I'm going back to school now as a back up plan. I find college works challenge me more. If my business opp I'm pursuing doesn't work out the way I want it too, at least, I will have a degree and possibility to get a better paying job, saving more money for my next opportunities, and get some business experience while on the job.

Think what you want in your life. For me, I want my own business and I'm lacking in my accounting skill, for that reason, I took accounting major to help me understand more in that department.

 

[saint.panda]

Quote:

Originally Posted by chesebert /img/forum/go_quote.gif I am not sure what level of business people you often come in contact and what you mean by successful. Sure you get a yawn being an average analyst..but what about anaylsts that get to participate in the big MA deal? or fly around the world buying and selling businesses? I have to agree with you on the accounting (yaaaaawn)...but I have friends for whom accounting is their passion......so what can I say.....I suppose there is a certain analytical and intellectually challenging side to creative bean counting. So the question is do you want to make alot of money the risky/take my chance way or the orderly and sure way.......either way you will get their..but the chance of your failing going the risky/take my chance way is exponentially higher. FYI: IIRC the average starting salary for top MBA student is around $150k with bonus topping out around $200K/yr. and average starting salary for top law student is around $175K with bonus topping out around $240K....just imaging you would have made over $1mil before your 30th birthday of course couple known NY firms/banks have gone higher than that giving out ridiculous large bonus (usually big M/A deals).... Most 'business people' you meet on the street probably don't even come close to making that. And even if they do now they didn't when they first started so the opportunity cost is substantial when you start your own business (unless you are venture backed).

Just kidding about the yawns. I also know some people who are passionate about accounting. Can't really understand them though.

By successful business people, I mean above 200k salary or just a lot of equity. I was also talking about undergrad business students, not MBA, which is a totally different thing, if not for the fact that you don't have to study business to do it, which I think is what the OP asked about. $150-200k after MBA is also a bit more than what I've heard, even for a top school, but maybe with bonus it's different.

You mention whether the question is to take the risky route or the "safe" route via elite business school going on to IBs / VCs, etc., but I think the question doesn't even present itself to most people, so it's kind of a moot point. Also, IBs love to hire scientists actually.

I'm also not sure whether all people would consider IB to be the coolest thing ever. I've talked to people who've worked in M&A and now do something else. And while a short internship probably doesn't tell much much about the actual job, from the 3 months I spent been at an IB, I know it's not something I want to spend my best working years on. Then again, I was in fixed-income, which isn't as exciting as M&A, that's for sure.

Btw, I doubt a Wharton graduate could simply get a $1m venture backing for his new business just because he went to Wharton. Sure, it helps. But there are so many people who are getting venture backing without going to Wharton or Stanford or whatever.

Anyways, I understand your point. I just don't see it as clear cut as you do.

 

[skyline889]

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[dbfreak]

If could roll back the clock, I would of learned business on Maxwell Street and skipped the price of an inflated degree.

 

[vulc4n]

Quote:

Originally Posted by skyline889 /img/forum/go_quote.gif I understand college is important but I don't know, it just doesn't really seem like it would work for me. I guess I'll give it a try for a year and see how things work out. Thanks for the college suggestions guys but I'm already a senior so I have like one day left to decide between UO, OSU, and UP. (That should give you an idea of how not looking forward to this I feel )

I'm finishing up my freshman year at Lehigh University right now... Its a fresh start on your own with tons of new experiences and new people. Don't skip such a great experience... Go to college.

 

[chesebert]

Quote:

Originally Posted by saint.panda /img/forum/go_quote.gif You mention whether the question is to take the risky route or the "safe" route via elite business school going on to IBs / VCs, etc., but I think the question doesn't even present itself to most people, so it's kind of a moot point.

You are correct. Whether a person went through college or not certainly does not determine his future success. But one thing is for sure, to be successful on the street you need 40% luck and 60% smart; OTOH, to be successful with a degree from top school is 20% luck and 80% smart. But regardless, the successful person has to be smart, in 99.999% of the case. So in other words, those for whom success did not come from a degree, choose not to get the degree not because they mentally cannot handle the work; but like others have said, it takes a bit morel luck/time to be successful.

 

[MoxMonkey]

become a plumber and make more than most business school grads