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Mentor
Hey sharks
I got offer on Citiustech Healthcare Technologies
May I know how WLB in this company, I see in glassdoor and ambitions contains positive and negative. Is it worth to join? Is it useful for me to enhance my career for long run? How about the retention pay? If we leave the company we need to pay entire retention pay?I have other wipro and CTS, which company is better to join?
Best Chicago agencies for work life balance?
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Anyone has a sephora promo code to share? 🐠🐠
Rising Star
Ekaterina is back 😍😏💅🏻
Rising Star
Looking for some book recommendations :)
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Social dynamics, mostly. I’m not one of the lucky trust fund types, but I was once engaged to a young woman whose family gave her a generous quarterly stipend.
They work because it allows them to have something to talk about when they’re at social functions, and it’s less forced than the trust fund types who become artists or “have a boutique thrift store” — if you know the type. If you’re in consulting, it’s relatively safe, the name looks good on the business card, and it reduces social friction.
Of course, you’re still living in a house beyond your salary, taking vacations beyond your salary, and driving a car that your father signed the lease for. The money you earn from your job is simply additional entertainment, and you’ll never deal with the stress of “losing your job” because a job loss won’t change your financial circumstances.
I will say this, and it’s probably obvious — it isn’t always easy to navigate these situations, socially speaking. I wasn’t comfortable with her family paying for extravagant vacations, so for a while I tried to keep up and pay my own way. It also leads to strange power imbalances, because you’re working hard to save up the 20% down payment for a house, and the person you’re dating was simply gifted a home. It’s hard to “work towards goals together” when one person doesn’t actually need to work towards… anything.
I don’t mean to sound resentful or bitter, it’s just a strange situation, dating someone who basically doesn’t need to work, but chooses to work because they find work amusing and a nice way to make friends.
Booz1, that’s an amazing decision you made. Good on you
I barely work 40hrs a week lol. Get in the right service line bro
Yea tell me babes
I am one, didn’t even start college until 22 because I was just pratting around and got bored so actually decided to go to College on a whim very last minute.
I actually enjoy working and having a purpose, still do charitable work but I like feeling a part of something, the comradery and just proving I’m not just my moms money.
Awkward part is I didn’t even know what the Big4 or Deloitte was until 6 months before graduation when a friend said they’d gotten a grad role.
If I were 18 and had $5M in the bank and wanted to do something meaningful, I'd go become a doctor or medical researcher or scientist. As someone who's been in consulting >20 years while the work can be enjoyable you're unlikely to find "meaning" in it if making money is not a priority.
My roommate is one, he took a year off and got bored. What else are you supposed to do in your 20s when everyone else is working?
EY I know you’re joking but I’ll oblige, he really only dates other rich people. He met his last 2 gfs through the family country club.
Rising Star
It was a stipulation to getting my trust fund 😭
As a not trust fund kid, can I join? 😆
Chief
For the prestige or some shit, bro.
I do this and I have about $2M after this recent downturn. Don’t know what else I should be doing, am not inspired to do particularly anything, and my parents aren’t around to guide me.
Not a lot of people try to empathize with this perspective. I’m trying to figure myself out and not do this anymore though.
Hey, it is hard when you don’t feel like your life has direction, purpose or meaning and you don’t know what to do next. I feel you. I’ve felt that and especially last year. It’s a hard feeling to wrestle w SA1. Keep going, keep trying to figure out a purpose that will give meaning for YOU to your life
Pro
Is it that crazy to actually want to build something for yourself?
I kinda sucks if every single accomplishment you have can be chalked up to being priveleged. I think blazing your own trail is admirable
Not a trust fund baby, but I lost my grandparents and then parents in the span of a few years and they left behind enough for me not to work any longer.
However I still enjoy challenging myself, having a sense of purpose, further building my nest egg/creating generational wealth to pass down to my children and grandchildren. Plus I have two young children so traveling the world is not really an option, nor would I have the sanity to be a full time stay at home parent. So here I am.
Because it’s better than having one of my parents or in-laws as my boss… 🫡🫡
I’m one of those as well. 10M in trust fund, but still working 60hrs a week. I would feel like I’m wasting my life if I didn’t learn and grow as professional and use the gifts I’ve been given. It’s this notion of being an owner vs a steward
I love the phrasing of owner vs steward. Can you teach the stewardship mentality to all rich people, but maybe just all people? I think we could all benefit from seeing our lives and resources this way
Pro
$5m in the bank returning 2.5% interest gets you $125k a year. So if you’re earning $100k you’re getting basically doubling your yearly pay. Monopoly money basically. They’ll want some money of their own to invest. It’s kinda expected that they have a career and earn so they can provide the same opportunity to their kids. They could definitely just spend it all if they wanted but not without social ramifications. I doubt they are the ones grinding away 70 hours, probably more like the minimum effort knowing they don’t need the job and their connections will carry them up regardless
It’s also possible that children raised by successful, driven parents might be motivated to do well themselves? Live up to their parents?
Not good or driven enough to make it into MBB
yes and those that have both don't typically join consulting in general or for long if they do. They will follow their passion or start a business when very young etc.
I still need health care, free Chobanis, and dating app profile name
Not the type of hits you want
Grew up rich in another country so it's not the same money scale as dollars, but I know plenty of people who could just live off their parents forever.
You can't run the company you inherited from dad if you have zero skills and fuck up so they either go out there to learn, or are forced to by family.
Also, most people want more money. Sure, they could live pretty well in the apartment they got as a gift, but they also want a house by the beach for vacations, a nice sports car to get there and a yacht to party in when you arrive.
$2, 5, 10, 20 million in a trust fund will get you a long way, but not as far as being filthy rich which is something they can realistically achieve.
Also, getting your social / familiy capital to compound the earning potential of whatever random business you wanna get into.
Little nephew Chad wants to open a pizza place? Oh yeah, the guy knows what he's doing, he worked at McKinsey, let's give him 2mill so he gets a headstart.
Same
Prestige, based on however you define prestige. I know one trust fund kid in the art gallery world making 35k with 10 yoe and 60 hour weeks, but is often painted/in art works by famous contemporary artists, so is basically immortalized.
What EY1 said - a trust fund is not a checking account, and there are limitations on how you can spend the money. Sure, you could buy a home outright, but if you want to get a Netflix subscription you’ll need to get a job.
$5 million in the bank is nothing nowadays. Seriously, assuming an infinite withdrawal of 2%, you’re talking about $100k a year in income. No one is going to live a good life on a non-adjusting fixed income of $100k a year.
Rising Star
It seemed like half of the NY office at the B4 I worked at fit this category
Ofc
Because the stress hits differently