Drop Outs are Killing the Economy

[USF11]

Re: Drop Outs are Killing the Economy

Where did you attend school?

A small private school in Chicago......ya ya I know that attending a small school hurts your chances.

The price was right though.

[Cebby]

Re: Drop Outs are Killing the Economy

A small private school in Chicago......ya ya I know that attending a small school hurts your chances.

The price was right though.

I was under the assumption that investment banks want top school kids.

I would assume with the current economy having the biggest effect on those institutions, there's probably a decent pile of Wharton, Harvard, and MIT kids looking for work.

[USF11]

Re: Drop Outs are Killing the Economy

I was under the assumption that investment banks want top school kids.

I would assume with the current economy having the biggest effect on those institutions, there's probably a decent pile of Wharton, Harvard, and MIT kids looking for work.

The misconception is those graduates are more prepared.

[Cebby]

Re: Drop Outs are Killing the Economy

The misconception is those graduates are more prepared.

I don't intend to be a **** (I am, but it's not my intention), but those kids not only tend to be the smartest in the world, but they are more prepared since they receive better education.

If those firms didn't believe the kids in question to be better prepared, they wouldn't hire them in such numbers.

[USF11]

Re: Drop Outs are Killing the Economy

I don't intend to be a **** (I am, but it's not my intention), but those kids not only tend to be the smartest in the world, but they are more prepared since they receive better education.

If those firms didn't believe the kids in question to be better prepared, they wouldn't hire them in such numbers.

Technology evens the playing field. In the past I would agree, but since the internet - alot of the hidden infromation is out there now. There isnt a competitive advantage from a learning standpoint at bigtime schools.

The advantage is their connections.

Its not what you know, Its who you know.

[Cebby]

Re: Drop Outs are Killing the Economy

There isnt a competitive advantage from a learning standpoint at bigtime schools.

Aside from this being untrue, the people who are admitted to the top Ivy's, Chicago, Stanford, and so on are going to be far smarter going in than everyone else.

If you want to use it as a coping mechanism go ahead, but the top investment banks have far too much money at stake to really care too much about things that you claim don't matter.

[USF11]

Re: Drop Outs are Killing the Economy

Aside from this being untrue, the people who are admitted to the top Ivy's, Chicago, Stanford, and so on are going to be far smarter going in than everyone else.

If you want to use it as a coping mechanism go ahead, but the top investment banks have far too much money at stake to really care too much about things that you claim don't matter.

Agree to Disagree.....theres hundreds of millions of young adults sitting in india who are just as smart in mathematical areas as the top grads from the top american schools.

[Cebby]

Re: Drop Outs are Killing the Economy

theres hundreds of millions of young adults sitting in india who are just as smart in mathematical areas as the top grads from the top american schools.

1. That's not even close to true

2. Indians (and foreigners in general) have trouble getting long term, post-student Visas. American graduates from lower level universities do not face such issues.

[CMH]

Re: Drop Outs are Killing the Economy

I hate the entitlement arguement. I have a 3.8 gpa in Finance and 4.0 for my masters in finance and I havent gotten 1 interview at a private equity or investment bank. Thousands of Resumes sent.

I think I am entitled to an interview.

I never heard that as the problem with "entitlement."

The problem is a kid like you thinking they should make $60 grand a year just because they graduated with those grades.

Now, that number is arbitrary but I'm going to make a safe assumption that most people don't start off with 60 grand working for an investment bank. I'd bet that whoever does has been working there for a few years or has been promoted a few times.

If I'm wrong, then increase the number and the same thing applies.

The truth is: there are jobs out there, but there are a lot of people that refuse to work certain jobs because they think they are entitled to the pay that someone with more experience makes. That's not how it works in this world.

If you have a specialized skill (ie: Nursing) then, yes. My sister has been a nurse for only a few months and she is making over 60 grand a year. That's how it works.

Young people need to accept that they have to take an entry level position especially if their degree is mostly liberal arts (history, english) or business related (management, finance). They don't. They think they are entitled to high paying jobs and consider themselves too educated to take an entry level position for 30+ a year.


Keep in mind I'm not talking about you specifically. I'm just jumping on your statement.

[CMH]

Re: Drop Outs are Killing the Economy

Aside from this being untrue, the people who are admitted to the top Ivy's, Chicago, Stanford, and so on are going to be far smarter going in than everyone else.

If you want to use it as a coping mechanism go ahead, but the top investment banks have far too much money at stake to really care too much about things that you claim don't matter.

Maybe their grades were better and that's what got them into those schools, but that doesn't mean they will be great employees. I disagree that they are going to be far smarter going in to their job. They learn the same things a student in a smaller school is going to learn. The difference is the name of the school and the perception that the education is better. It's all the same text book. Some students apply the lessons better than other and it's not about what college they go to.

That being said, I don't necessarily disagree with you regarding the investment banks having too much at stake to gamble. The reality is: a greater percentage of better workers go to top schools because they tend to be the smartest in their age group. Those schools accept them because history says that with their intelligence they will better adapt to everyday lessons in the workplace.

So, an investment bank is going to go where they've found the most success and that's an absolute truth.

I've seen that with WB Mason. A top executive there attended Stonehill College and though I'm not sure of his exact reasons, WB Mason as a whole loves to hire Stonehill College students based off the perception that they are better prepared for the job. Does that mean someone that went to UMass-Amherst couldn't be a better worker than Joe Somebody that attended Stonehill? No. But, WB Mason isn't going to risk it when there are real dollars involved in the hiring process.

[USF11]

Re: Drop Outs are Killing the Economy

I never heard that as the problem with "entitlement."

The problem is a kid like you thinking they should make $60 grand a year just because they graduated with those grades.

Now, that number is arbitrary but I'm going to make a safe assumption that most people don't start off with 60 grand working for an investment bank. I'd bet that whoever does has been working there for a few years or has been promoted a few times.

If I'm wrong, then increase the number and the same thing applies.

The truth is: there are jobs out there, but there are a lot of people that refuse to work certain jobs because they think they are entitled to the pay that someone with more experience makes. That's not how it works in this world.

If you have a specialized skill (ie: Nursing) then, yes. My sister has been a nurse for only a few months and she is making over 60 grand a year. That's how it works.

Young people need to accept that they have to take an entry level position especially if their degree is mostly liberal arts (history, english) or business related (management, finance). They don't. They think they are entitled to high paying jobs and consider themselves too educated to take an entry level position for 30+ a year.


Keep in mind I'm not talking about you specifically. I'm just jumping on your statement.

I agree with you 100%

Nurses and Teachers are the hot jobs in my area. Your making 45-60 in your first 3 years.
Anything funded by tax payer money is were the money is at.

I have applied to everything. I just want health insurance and $15/hr.

But there comes a point when u have to look at this realistically.

$450 payment for car and insurance
$750 Rent/Internet/Utilities
$500 for Student Loans
$100 Gas
$200 Food
$75 Phone

$2075/Month

Thats before a cent is spent on leisure.

You almost have to start a 30k just to make ends meet.

[PVarck31]

Re: Drop Outs are Killing the Economy

I agree with you 100%

Nurses and Teachers are the hot jobs in my area. Your making 45-60 in your first 3 years.
Anything funded by tax payer money is were the money is at.

I have applied to everything. I just want health insurance and $15/hr.

But there comes a point when u have to look at this realistically.

$450 payment for car and insurance
$750 Rent/Internet/Utilities
$500 for Student Loans
$100 Gas
$200 Food
$75 Phone

$2075/Month

Thats before a cent is spent on leisure.

You almost have to start a 30k just to make ends meet.

Exactly. How has it come to this? Ok I know a number of reasons why it has come to this, but damn. Even with a college education, I don't know how We are expected to get by.

I will give an example. Without revealing to much personal information, we were in a pretty bad position for about 2 years up until about 4-5 months ago. We lived in a pretty descent apartment complex. I will break down our expenses like you did.

Rent $700
Bills/utilities $200-250
Student loans $200
Food $300-400
Gas $100-150
Misc. $100-150

It was a rough go for a while, we were getting help from my family, pretty much none from my wife's. Plus there is my stepdaughter we have to take care of who gets no child support payments.

Things are better now. Not like we have money to wipe our asses with or anything but definitely better.

[Cebby]

Re: Drop Outs are Killing the Economy

I disagree that they are going to be far smarter going in to their job. They learn the same things a student in a smaller school is going to learn.

They're smarter in the sense that people generally go to the highest tier of school that they can.

Obviously this isn't true for 100% of people, but for the vast majority, if you get into Harvard/Yale/Wharton/Chi/Princeton/Columbia/MIT you're going to attend that school.

As the phrase goes, "garbage in, garbage out." On the other end of the spectrum is "smartest kids in the country in, smartest kids in the country out."

[ProjectRipCity]

Re: Drop Outs are Killing the Economy

Agree with title...Not to mention everyone is getting pregnat. 700 for rent? LOL I am paying 275 at a decent place. Look for roomies.

[CMH]

Re: Drop Outs are Killing the Economy

Agree with title...Not to mention everyone is getting pregnat. 700 for rent? LOL I am paying 275 at a decent place. Look for roomies.

Depends where you live.

Live in NYC and see that rent double and you're still making the same amount of money as someone in another state where rent is lower.