The college kids not working..it makes me sick.....

[JoaoPinto]

If you don't fancy stock market investing, start a chain of Olive Garden restaurants. Buy some land and start a golf driving range. Buy a gas station. Buy and place vending machines all over the city. Start a hand car wash. Buy apartment buildings and renovate them.


This is the idea. It's no life sitting grinding out a specific ROI in SNG's or cash games. The successful poker pro's I know have all invested their winnings either in property or in a resurant/bar etc.. It means poker is still fun to them. Look at the top pro's, all of them take advantage of endorsements and business opportunities. How many top stars can still say poker is their primary source of income? If your going to sit and grind what happens when the boom fades and the fish leave? Or if the economy hit a downturn and ppl didn't have enough disposable income to play poker. You'll be up a famous creek without an important item.

[Municipal Hare]

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i agree with this post, to go out and get a real job, but for different reasons. there's more to life than money and half the posts in this thread demonstrate that you people don't [censored] understand that.
i was making bank the past yr playing online poker but no thanks, i went and got myself a consulting job for 1/10 the pay of poker . . . you all should do the same, honestly . . .

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Snipped your post to get to the heart of what you're suggesting.

Preaching mainstream employment as an end unto itself is just dim, coerced thinking. The OP is guilty of it and so are you. Life isn't about working any more than it's about money any more than it's about raising families or building churches or saving the planet or burning it all up while we can. Life encompasses those things, but it is unimaginably more than those things.

Poker entered my life for two reasons: (1) It's the best stopgap for my unstructured manner of living. It allows me to sleep when my body tells me to, live off the fat of the land, continue to be an arts undergraduate bum, contemplate things and generally squeeze every last drop out of my youth. (2) Whether or not there's a career in it, I like playing poker. Maybe you don't, but I do. It's mentally stimulating and demanding. I like almost every aspect of what poker is. I like that I'm better at it than I was two months back, and that the same will hold true in another two months. Doing something I truly like tends to beat other random trash.

Yes, of course being employed has the potential to make you a more valuable human being. It can also sap your soul and crush your imagination to the point where much of your satisfaction comes from belittling those who are still excited, scared, challenged, and moved by things. The point here isn't whether you have a real job or not. The point is whether you have a real life or not.

Let me also take a moment to praise DVaut1's replies upthread. Chocolaty goodness.

[fnord_too]

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Again, my first question for someone who has a blank resume will be "WTF have you done for the past 4 years?"

IMO, if you don't know what it's like to go to work everyday, be responsible, have experience with someone telling you what to do and when to do it, then I don't want you working for me.

That's just my opinion though. Plenty of places hire people who've never worked a day in their lives.

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What I look for when I interview people is how clearly they think. For software development positions, for instance, I really want to know how the candidate attacks problems. I don't particularly care about technologies they have used unless there are some very specific technology requirements for the position. For entry level, if they have never had a job I don't care. In my experience, experience really does not matter that much. It may make a learning curve shorter, but a lot of the stuff I look for is either there or not, and whether the person has zero or twenty years on the job doesn't really make a big difference.

I can usually tell within a couple of minutes whether I want to hire someone or not. It really is that clear. A resume may get you in the door for an interview, but for an entry level position, the degree is the most important thing on the resume.

My first real question is usually not even a question, it is something like "Talk to me about a software project you worked on. Walk me through it from start to end." For a financial position I might say something like "Talk to me about risk mitigation" or "decision making under uncertainty." I really prefer to have a dynamic dialog. (btw for a financial position if someone said they were a winning 10/20 player, that would be a big plus. Some firms teach their employees poker to ingrain certain financial concepts. King Yao worked for such a firm if I am not mistaken.)

[spamhead]

I would guess most of the people on this board are above average intelligence.

I just got canned from a $125K job that I was at for 11 years. We had a hostle takeover and most management lost their jobs.

I made the company over $50 Million in my time there, worked like a damn dog, and put them in the top spot for e-commerce in the printing industry.

And I get repaid by getting a sevrance? F that. Working for the man is OK for some, but a terrible idea for us smarter people.

Work for yourself, play poker, get up late, do whatever the hell you want to do. You were blessed by God with a better than average brain, use it for your self, not for someone else to suck it dry and throw you out with the trash.

don't be a slave.

[fnord_too]

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There are plenty of very talented people who also have a good, proven work ethic.



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I have trouble just finding plenty of talented people. Maybe my standards are too high.

[KKsuited]

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KK,

I live in Atlanta, am majoring in Industrial Engineering at GT, have a 3.60 GPA (3.77 major GPA), and would like an internship this summer.

[/ QUOTE ]

I don't work with engineers, but you grades and a degree in Eng from Ga Tech would absolutely get you $60k coming out of school, regardless of how off some people think my numbers are.

I posted the article that talks about starting salaries. That is a national average. Kids in Atlanta and New York get more than that. Maybe some of the dissentors don't know what kind of money people really make. I look at payrolls for corporations on a weekly basis, so I feel pretty confident in my ability to talk about salaries.

Again, I live in Atlanta, so if you live in Kentucky, then no, you won't see $100k for a long time, so I suggest getting out of the woods.

[odellthurman]

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I could teach a retarded monkey to beat this game for 80k/yr. No problem. I can teach anyone of above avg intelligence to beat the 1k and 2k games and easily make $250k/yr.

If you love the game, by all means play. Play a lot. Make a lot of money and invest it. When you become bored of the game take some of the hundreds of thousands that you've saved and do something grand with it.

If you don't fancy stock market investing, start a chain of Olive Garden restaurants. Buy some land and start a golf driving range. Buy a gas station. Buy and place vending machines all over the city. Start a hand car wash. Buy apartment buildings and renovate them.

Now hire a bunch of college kids to work for you and you and your growing empire, and hire guys with degrees to manage it for you.

Now vacation all over the world doing whatever the F you want. Buy a few vacation homes. Buy a few exotic cars. Play super high stakes poker whenever you want because you've hundreds of millions in the bank, all because you made a living playing a game you love.

Poker can be a great way to kick start an empire. College, internships, and summer jobs are a great way for reasonably intelligent people to torture themselves and virtually guarantee a life of hard work, long wage whoring hours and barely enough money to retire at 65. (College is great for developing social skills, social roundedness, etc. State schools and junior college are great for this. However, I learned more by reading at Border's book store than during my 4 year tour of duty in university.)

Truly wealthy individuals are usually business owners. If you can make it in poker now, don't miss a golden opportunity to kickstart an empire.

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Lyric - If you are looking for investors to help you buy retarded monkeys to start your hundred million dollar plus empire, please let me know. Thanks.

[KKsuited]

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looking at what you were saying, im sort of in a been there done that position

i'm not exactly sure if you get the scope of competition when you talk about ibanks, hedge funds, private equity etc.

heres a quick example from this year:

3.7 gpa, "decent" resume (2 previous jobs unrelated to industry), business major from haas school of business - currently 3rd best undergrad business program in the nation

1 interiew in the catagory you just mentioned. this includes applying for ubs, deutsche, goldman, ml, ms, credit suisse, lazard, various pe/hf in the bay area

with a blank resume you cant even get an interview, let alone a job, and this is the west coast where its supposedly less competitive

2. friend from wharton, 3.5 gpa, ~100 resume drops, ~60 interviews, 2 offers.

the challenges from a blank resume are basically you cant get the interview. and even if you do, they dont care about how you have a portfolio of 100k as an undergrad. all they care about is your ability in finance (aka things such as valuation/forcasting, and what you can do for the company.

heres some sample questions from csfb:

1. Talk about valuation.
2. Walk me through a DCF.
3. Why would one company have a 5x multiple and one have a 10x multiple?
4. Why use the P/E ratio and not FV to EBITDA? Why not FV to NI?
5. Why banking?
6. What do you know about LBOs?
7. What do you know about IPOs?
8. If you had $1 MM, what would you do with it?
9. If interest rates increase, what effect does it have on a LBO?
10. What are two ways to calculate the terminal value?
11. What do you do for fun?
12. Why choose equity or debt?
13. Tell me about the 4 financial statements.
14. What do you think would happen if depreciation when up by 10 million and tax increased by 40%? How does that flow through all of the financial statements?
15. What is 19 x 19?
16. What is the degree of the angle between the hour hand and the minute hand when the clock says 3:15?
17. What’s your favorite movie?
18. What’s the hardest thing you’ve ever had to do?
19. Can you give me an example of something quantitative or analytical that you had to do?
20. What would you tell a client if they were comparing two income statements and their revenues and net income were the same, but their expenses were different?
21. Does depreciation go on the cash flow statement?

as you can see, poker doesn't really matter. =|

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Thanks for the insite from the real world. I'm not sure what planet some of these people live on.

Most of the people in question probably don't have the chance at jobs like you are mentioning. They're looking to work in the accounting department at home depot.

My fiance is a portfolio manager from the Ultra High Net Worth group at UBS. She didn't get that job dip stick'n around for 6 years, then showed up wanting a good job.

If you're aspirations in life aren't very high, then go ahead and spend all summer playing poker. It won't make a difference.

But, if you have aspirations of being ultra successful in life, I'd start now.

That's just my opinion.

[KKsuited]

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Again, my first question for someone who has a blank resume will be "WTF have you done for the past 4 years?"



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Fair enough.

My answer would be I'd been self-employed. I'd be prepared to show stats from PT with hours worked and money earned.

I'd explain that though your job was offering a lower hourly rate than I could make playing poker, I'd be prepared to make the investment because I thought I had good prospects and I thought the work would be rewarding.

If you didn't agree that I had shown more initiative than someone working at 7-11, I'd be quite happy not to work for you.

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