How much can you earn with a MFE from a top program after working for 20 years in finance?

[Steve Wu]

if money is one of my goals, should I go into entrepreneurship or finance?

I mean making lots of money.......

 

[bigbadwolf]

if money is one of my goals, should I go into entrepreneurship or finance?

I mean making lots of money.......

How rich? As much as Gordon Gekko? Or the even more fabulously wealthy Scrooge McDuck?

 

[Steve Wu]

can I expect to have a net worth of 10 millions USD before I get retired?

 

[Steve Wu]

How rich? As much as Gordon Gekko? Or the even more fabulously wealthy Scrooge McDuck?

?

 

[Ken Abbott]

How rich? As much as Gordon Gekko? Or the even more fabulously wealthy Scrooge McDuck?

We might be talking Richie Rich territory here.

 

[Ken Abbott]

We might be talking Richie Rich territory here.

Or even Rich Uncle Pennybags from Monopoly. He's a hedge fund guy, isn't he?

 

[Steve Wu]

We might be talking Richie Rich territory here.

Could you please elaborate that?

 

[Steve Wu]

Or even Rich Uncle Pennybags from Monopoly. He's a hedge fund guy, isn't he?

Is it possible to have a net worth of 10 millions as a quant before one gets retired? YES OR NO? thanks a lot.

 

[TehRaio]

@Steve Wu MASTERPLAN: become a quant at 20 yo, 250k salary, you live at home with your parents for 40 years, they pay for everything, you retire at 60 with your 10M

no sweat.

 

[avarava]

Job has hardly made anyone Richie rich. Good jobs (aka medicine, finance etc.) can offer you the social mobility of breaking into the upper middle class but that's about it. Having said that, there are people who have made their millions while working exceptionally well in their jobs (by rising through the ranks). In finance, even middle office VPs make close to 200k (all in) and I have known directors (in their mid to late 30s) who take home in the ballpark of 350k. An MD of fixed income trading group in my previous bank took home $4mm even in an average year. Your expectation of having a net worth of $10mm at the time of your retirement (which I assume is 30 years from now) is difficult but definitely achievable if you work hard in finance and make prudent investments with your savings.

On a side note (and at the risk of sounding judgmental) going by your trifle posts on this forum, it looks like you are still a very immature kid who is not sure about his direction in life other than "making a lot of money". Do yourself a favor and don't commit yourself to a pricey education or an ill conceived attempt at entrepreneurship unless a) you are sure you want to do this knowing this may not "make you a lot of money or b) your parents are both rich and likely to bail you out if things do not go as planned.

 

[bigbadwolf]

@Steve Wu MASTERPLAN: become a quant at 20 yo, 250k salary, you live at home with your parents for 40 years, they pay for everything, you retire at 60 with your 10M

You have to pay tax on that $250k. And what about incidental expenses -- clothes, transport, lunch?

 

[bigbadwolf]

We might be talking Richie Rich territory here.

The following list is of course not authoritative but suggests McDuck may have a net worth ten times that of Richie Rich:

Top 15 Richest Fictional Characters

I am pleasantly surprised to see Smaug on the list. His Get Rich Quick scheme was probably the most effective.

 

[Steve Wu]

lol. I was just joking actually...

Many people get into finance for money or with the illusion of becoming extremely rich one day... but eventually they realize that it is not possible.....

The following list is of course not authoritative but suggests McDuck may have a net worth ten times that of Richie Rich:

Top 15 Richest Fictional Characters

I am pleasantly surprised to see Smaug on the list. His Get Rich Quick scheme was probably the most effective.

 

[Daniel Duffy]

can I expect to have a net worth of 10 millions USD before I get retired?

What about gold mining?

http://www.popoptiq.com/wp-content/uploads/2012/05/sierramadre-trio.jpg