What are careers where you can become wealthy ($10M+) over a 10-15 yr period? Consulting and banking don’t seem to be worth the hrs in the long run if money is the big goal

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There is a correlation with the risk you are willing to take. 10m over 10 to 15 years would be very difficult in banking or consulting, unless you start counting after you make partner or you are a rainmaker.

High risk high reward, go for professional athlete, your own hedge fund, youtube star, unicorn startup founder

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Why I’m still in consulting

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Most money is made by people building mostly unglamorous businesses over time. Think car dealerships, retail, etc.

For professional careers - investing (hedge fund, PE, etc), investment banking, biglaw, consulting stand out (prob in that order).

likesmarthelpful

Still doesn’t make sense ! Sorry guys how many cars do you need to sell to make $1M plus take home?

If I go 15k average car price , that equals to $10M in sales a year . The numbers just don’t add up!

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Marry a rich dude from Dubai

likefunnyuplifting

Start your own company

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Can’t get there earning wages. Have to own things.

likehelpful

Could easily do that in IB as a top performer at a bank and live an unglamorous lifestyle. MD comp, one step below partner at most banks, will definitely be close to $1 MM per year. Just have to hope we don’t have a huge financial crisis again that tanks banking stocks

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Gucci makes sleds?? That must be a euphemism and I must be out of touch

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My college roommate went to work a cushy 40 hr/wk gig in O&G and has been putting majority of take home pay into a Vanguard brokerage account.

He won’t have 10M+ by 15 years but he is certainly well on his way 2M+

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I think we all could have $2M in 15yeaes, that’s why I’m trying to find out how people 5X that amount in the same time

likefunny

WLB in IB and consulting as a partner/md level is largely comparable - both are senior counseling and sales roles. Not sure why you think consulting gets worse. Both are very hard working / high dedication roles with significant travel and entertaining after hours. If you want a 50 hour week, look elsewhere. WLB in below partner roles is worse in IB for sure. BigLaw is the absolute worst. Investing is best.

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Either a specific set of private practice law firms (alternatively called “white shoe firms”). Or broadly, any law firms hat follow the so-called Cravath Scale for pay.

PE, carry can go a long way. Obviously it’s an outlier, but I have seen returns on investments of 50x+.

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F500-1000 P&L VP or C Level. Can make VP in 15yrs from Undergrad or 10yrs post MBA but probably not the norm

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Congrats

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Buy some lottery tickets and say a prayer

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Blue collar business print money if they are run properly. Paving contractors, HVAC, Plumbing companies, etc.

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Definitely not the norm. I’ve spent 15 years as a concrete contractor, GC, and consultant in the building materials and construction space.

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Quit. Start a business. Walk the talk.

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Be a hoe

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