{ "media_type": "text", "post_content": "There are far too many posts asking for the quickest and cleanest paths to 500k+ salaries as Partners and/or work at FAANG/PE in this bowl. We should be encouraging people to take risks, start companies/join early stage ventures, and actually impact the world—not spend their careers making slide decks and avoiding the fray. Consulting is great for exposing people to lots of fields and problems, but I would be ashamed to still be a consultant beyond 3-5 years.", "post_id": "5f5ca08511fc640025fb4b2b", "reply_count": 100, "vote_count": 129, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }
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There are far too many posts asking for the quickest and cleanest paths to 500k+ salaries as Partners and/or work at FAANG/PE in this bowl. We should be encouraging people to take risks, start companies/join early stage ventures, and actually impact the world—not spend their careers making slide decks and avoiding the fray. Consulting is great for exposing people to lots of fields and problems, but I would be ashamed to still be a consultant beyond 3-5 years.

likefunnyupliftingsmart
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"Having a family" or "having bills to pay" does not suddenly admonish one's part in making our society better. On the flip side, admonishing partners who likely have motives other than making $$$ and achieving purely hedonistic ends is not the right approach.

I come from a poor immigrant family, and I can acknowledge that OP likely comes from a privileged perspective. But the right sentiment is there -- we can all (including our sanctimonious OP) take incremental steps to make society a better place. This shouldn't translate to "quit your job/any activities that could be perceived as self-serving by OP" -- rather perhaps a suggestion to take inventory of what you're doing, and an encouragement to adopt the mindset that we can all contribute a little bit more.

like

Why do businesses pay so much for our services if we don’t add value?

Thomas Sowell, a famous Stanford economist, has some good discussions in his books about this.

One example he used is a prison, where every prisoner gets the same rations. But some prisoners are vegetarians, so they don’t like the meat in their rations and they want to trade. And others don’t smoke, so they want to trade away cigarettes. And others really like sweets so favor that more.

Over and over, some prisoners start to become central traders to facilitate the exchange. Over and over they take a small tax / fee for their effort. These market makers / traders / whatever you call them end up nicely compensated compared to other prisoners.

They end up disdained by other prisoners because they don’t really bring anything to the table — there aren’t more or less rations in the system. They add nothing but collect a fee. Yet everyone pays the fee and used their services.

Sowell goes on to show that across the globe we tend to value the end points of production, and disdain the middle parts of the value chain. His point is more that it’s human bias, not an actual lack of value add in the middle parts of the value chain.

Something to consider, OP. But then again....maybe all those businesspeople paying us are just stupid and wasting their money. :)

likesmart

It’s more of the latter in my experience...

like
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I'm a single earner with 7 dependents.

My risk tolerance is fairly low.

Your comment about "being ashamed" is hilarious. I'd be ashamed to be ashamed of my career.

likefunny

Sounds like privilege and immaturity, OP. You would benefit from some perspective.

likefunny

On the other hand, by rejecting any mention to privileges, you're ignoring the experience of equally capable people who are not given the same opportunities. Maybe you were not targeting them in your original post, and that's also fine, but you just have to make your audience clearer then (step 1 for storylining :-) )

RIP all the Partners in the bowl🤣

likefunny

Principals in accounting firms are partners without CPAs. Don’t get salty.

When you have kids that depend on you the calculus behind your risk tolerance completely changes.

likefunnyhelpful

I tend to agree. Consulting and banking suck up tons of very smart kids and push them into roles with incredibly minor marginal benefit for society.

likesmartfunny

Good thing that that’s not what I said at all

like

Immigration challenges first.

To add: the original post is a very standard example of Americans not being informed about underlying challenges of other people before forming an opinion and telling people around the world who are facing these challenges that they’re in fact wrong

likefunnysmarthelpful

OW1, not a global American thing, just a privileged American view. We didn't all grow up with silver spoons. It's a lot easier to take risks when you know you'll be able to pay rent or move in with your parents if things don't pan out.

like

OP a wee clueless?

like

Agreed. Sounds like rich white boi energy

I mean, it is the Consulting bowl after all, not the Entitled Entrepreneur bowl...

likefunnysmart

Twenty years here. Not ashamed at all as I provide a nice lifestyle for my wife & kids.

like

Most startups are just brokers/rent seekers.

like

I could get behind something like Impossible Foods, but brokerage isn't real world impact.

I’m 33 and already at 500k, so probably gonna retire by 40 and live life as it was meant to be - outside the rat race.

likefunny

Who said risk taking or early stage ventures always have an impact on society? Don't they more often than not burn family or VC cash and then get sucked up into M&A or picked up by FAANG. (That is, if they're even remotely successful)

like

I can see both sides of the argument.

likefunny

Op makes a good point but it may not be applicable to everyone. What we need to understand in life is that everything is not for everyone. Start up life is unpredictable and rewarding if it works out but most folks can’t handle it.

like

A lot of salty, defensive consultants on this thread...

like

💯 I literally said this yesterday. Stop asking for so 500k paycheck and go build a company or do something meaningful. However don’t be ashamed. Many people want different things in life - to be a present parent with a good career is something consulting can provide vs. building a company. If you think startup or entrepreneurship is less hours, stress, and time away from home - you’re wrong.

likesmart

I came from an early stage startup that was going to “change the world”. I worked far more hours, did a lot more menial work at times because we didn’t have the employees or automation for basic administrative tasks, and lived and breathed that company for very little financial benefit.

I don’t have the appetite to help someone else realize their dream. I’d always consider starting something of my own, but for this very much in debt consultant, consulting is comfortable, safe, and I’m still finding fulfillment from my job. If I still find that in 10 years on the partner track, what’s wrong with that? We can’t all be Bill Gates and that’s okay.

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Thought provoking and different. Nice!

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