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Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work. |
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#1
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An answer to why the reduction in science and engineering majors in US universities
"Ed Huntress" wrote in message ... The NYT says starting salaries for freshly minted analysts in areas that deal with risk, such as hedge funds, are running up to $200,000/yr. That's *starting* salaries. -- Ed Huntress I think that's a very small number of the best Wharton grads, or at the quant funds like Renaissance, exceptional math PhD's. In addition, the bottom may be about to fall out of that market. But I agree the compensation is incredible. Private equity firms charge 2% of money under management and 20% of net gain. Many of these funds are over a billion dollars and the firms may consist of relatively few employees whacking up a pretty big prize. Makes the rest of us wonder why we didn't even think of a career in finance...... |
#2
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An answer to why the reduction in science and engineering majors in US universities
"ATP*" wrote in message ... "Ed Huntress" wrote in message ... The NYT says starting salaries for freshly minted analysts in areas that deal with risk, such as hedge funds, are running up to $200,000/yr. That's *starting* salaries. -- Ed Huntress I think that's a very small number of the best Wharton grads, or at the quant funds like Renaissance, exceptional math PhD's. In addition, the bottom may be about to fall out of that market. But I agree the compensation is incredible. Private equity firms charge 2% of money under management and 20% of net gain. Many of these funds are over a billion dollars and the firms may consist of relatively few employees whacking up a pretty big prize. Makes the rest of us wonder why we didn't even think of a career in finance...... As you say, though, it comes and goes like the tides. At one time a seat on the NYSE was a license to print money. Then it started to go south, and various kinds of arbitrage took its place, ending with risk arbitrage (Robert Rubin's former career). Then it was currency, and then a few other things, and, today, hedge-fund and private-equity-fund management. Those jobs aren't very transferable so you have to make it quick. In some of those jobs, it's assumed you will commit suicide or quit before you're 50. They give huge bonuses and it's very déclassé to spend them. You're supposed to save $10 or $20 million or so for your early retirement. It's not for me, although there are times... -- Ed Huntress |
#3
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An answer to why the reduction in science and engineering majors in US universities
On Mon, 1 Oct 2007 21:51:21 -0400, "ATP*"
wrote: snip I think that's a very small number of the best Wharton grads, or at the quant funds like Renaissance, snip I think you nailed it. This is a variation on the old "guarantee" "you can make up to 200,000$ the first year." When parsed, what this says is that we guarantee you won't make more than 200k$. It as also an attempt to generalize from a very small selected sample to an entire polulation. No sane person would encourage their child to be a golf pro with the expectation they will earn like Tiger Woods. To be sure there will be one or two that do, but the odds are better if you "invest" in Power Ball tickets (and a whole lot less work). Unka' George [George McDuffee] ============ Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson (1743-1826), U.S. president. Letter, 17 March 1814. |
#4
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An answer to why the reduction in science and engineering majors in US universities
On Oct 2, 7:24 am, "Ed Huntress" wrote:
"ATP*" wrote in message ... "Ed Huntress" wrote in message ... The NYT says starting salaries for freshly minted analysts in areas that deal with risk, such as hedge funds, are running up to $200,000/yr. That's *starting* salaries. -- Ed Huntress I think that's a very small number of the best Wharton grads, or at the quant funds like Renaissance, exceptional math PhD's. In addition, the bottom may be about to fall out of that market. But I agree the compensation is incredible. Private equity firms charge 2% of money under management and 20% of net gain. Many of these funds are over a billion dollars and the firms may consist of relatively few employees whacking up a pretty big prize. Makes the rest of us wonder why we didn't even think of a career in finance...... As you say, though, it comes and goes like the tides. At one time a seat on the NYSE was a license to print money. Then it started to go south, and various kinds of arbitrage took its place, ending with risk arbitrage (Robert Rubin's former career). Then it was currency, and then a few other things, and, today, hedge-fund and private-equity-fund management. Those jobs aren't very transferable so you have to make it quick. In some of those jobs, it's assumed you will commit suicide or quit before you're 50. They give huge bonuses and it's very déclassé to spend them. You're supposed to save $10 or $20 million or so for your early retirement. It's not for me, although there are times... -- Ed Huntress- Hide quoted text - - Show quoted text - Just like professional sports, television/movie/music stars and call girls....each has their 15 minutes of fame. TMT |
#5
Posted to rec.crafts.metalworking
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An answer to why the reduction in science and engineering majorsin US universities
Ed Huntress wrote: "ATP*" wrote in message ... "Ed Huntress" wrote in message ... The NYT says starting salaries for freshly minted analysts in areas that deal with risk, such as hedge funds, are running up to $200,000/yr. That's *starting* salaries. -- Ed Huntress I think that's a very small number of the best Wharton grads, or at the quant funds like Renaissance, exceptional math PhD's. In addition, the bottom may be about to fall out of that market. But I agree the compensation is incredible. Private equity firms charge 2% of money under management and 20% of net gain. Many of these funds are over a billion dollars and the firms may consist of relatively few employees whacking up a pretty big prize. Makes the rest of us wonder why we didn't even think of a career in finance...... As you say, though, it comes and goes like the tides. At one time a seat on the NYSE was a license to print money. Yeah, back in "the day", like the 1950's to 1980's, they could charge $100 for a single stock transaction. Now, anybody can do it online for $5.99 or something. Jon |
#6
Posted to rec.crafts.metalworking
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An answer to why the reduction in science and engineering majors in US universities
"Ed Huntress" wrote in message ... "ATP*" wrote in message ... "Ed Huntress" wrote in message ... The NYT says starting salaries for freshly minted analysts in areas that deal with risk, such as hedge funds, are running up to $200,000/yr. That's *starting* salaries. -- Ed Huntress I think that's a very small number of the best Wharton grads, or at the quant funds like Renaissance, exceptional math PhD's. In addition, the bottom may be about to fall out of that market. But I agree the compensation is incredible. Private equity firms charge 2% of money under management and 20% of net gain. Many of these funds are over a billion dollars and the firms may consist of relatively few employees whacking up a pretty big prize. Makes the rest of us wonder why we didn't even think of a career in finance...... As you say, though, it comes and goes like the tides. At one time a seat on the NYSE was a license to print money. Then it started to go south, and various kinds of arbitrage took its place, ending with risk arbitrage (Robert Rubin's former career). Then it was currency, and then a few other things, and, today, hedge-fund and private-equity-fund management. Those jobs aren't very transferable so you have to make it quick. In some of those jobs, it's assumed you will commit suicide or quit before you're 50. They give huge bonuses and it's very déclassé to spend them. You're supposed to save $10 or $20 million or so for your early retirement. It's not for me, although there are times... -- Ed Huntress I don't know, I think as an entire sector, the financial industry in the metro NY area has been incredibly good to a LOT of people over the last 25 years, not just the high stakes traders on the floor. Of course, I'm just seeing that now and wondering why I never considered it as a career when I was younger. |
#7
Posted to rec.crafts.metalworking
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An answer to why the reduction in science and engineering majors in US universities
On Oct 2, 8:04 pm, "ATP*" wrote:
"Ed Huntress" wrote in message ... "ATP*" wrote in message ... "Ed Huntress" wrote in message ... The NYT says starting salaries for freshly minted analysts in areas that deal with risk, such as hedge funds, are running up to $200,000/yr. That's *starting* salaries. -- Ed Huntress I think that's a very small number of the best Wharton grads, or at the quant funds like Renaissance, exceptional math PhD's. In addition, the bottom may be about to fall out of that market. But I agree the compensation is incredible. Private equity firms charge 2% of money under management and 20% of net gain. Many of these funds are over a billion dollars and the firms may consist of relatively few employees whacking up a pretty big prize. Makes the rest of us wonder why we didn't even think of a career in finance...... As you say, though, it comes and goes like the tides. At one time a seat on the NYSE was a license to print money. Then it started to go south, and various kinds of arbitrage took its place, ending with risk arbitrage (Robert Rubin's former career). Then it was currency, and then a few other things, and, today, hedge-fund and private-equity-fund management. Those jobs aren't very transferable so you have to make it quick. In some of those jobs, it's assumed you will commit suicide or quit before you're 50. They give huge bonuses and it's very déclassé to spend them. You're supposed to save $10 or $20 million or so for your early retirement. It's not for me, although there are times... -- Ed Huntress I don't know, I think as an entire sector, the financial industry in the metro NY area has been incredibly good to a LOT of people over the last 25 years, not just the high stakes traders on the floor. Of course, I'm just seeing that now and wondering why I never considered it as a career when I was younger.- Hide quoted text - - Show quoted text - Ask those tens...or make it hundreds of thousands of financial workers who are being RIFed because of the housing bust...with more to follow. They have mortgages to pay every month...and educational loans to repay...just like everyone else. TMT |
#8
Posted to rec.crafts.metalworking
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An answer to why the reduction in science and engineering majors in US universities
"Too_Many_Tools" wrote in message ups.com... On Oct 2, 8:04 pm, "ATP*" wrote: "Ed Huntress" wrote in message ... "ATP*" wrote in message ... "Ed Huntress" wrote in message ... The NYT says starting salaries for freshly minted analysts in areas that deal with risk, such as hedge funds, are running up to $200,000/yr. That's *starting* salaries. -- Ed Huntress I think that's a very small number of the best Wharton grads, or at the quant funds like Renaissance, exceptional math PhD's. In addition, the bottom may be about to fall out of that market. But I agree the compensation is incredible. Private equity firms charge 2% of money under management and 20% of net gain. Many of these funds are over a billion dollars and the firms may consist of relatively few employees whacking up a pretty big prize. Makes the rest of us wonder why we didn't even think of a career in finance...... As you say, though, it comes and goes like the tides. At one time a seat on the NYSE was a license to print money. Then it started to go south, and various kinds of arbitrage took its place, ending with risk arbitrage (Robert Rubin's former career). Then it was currency, and then a few other things, and, today, hedge-fund and private-equity-fund management. Those jobs aren't very transferable so you have to make it quick. In some of those jobs, it's assumed you will commit suicide or quit before you're 50. They give huge bonuses and it's very déclassé to spend them. You're supposed to save $10 or $20 million or so for your early retirement. It's not for me, although there are times... -- Ed Huntress I don't know, I think as an entire sector, the financial industry in the metro NY area has been incredibly good to a LOT of people over the last 25 years, not just the high stakes traders on the floor. Of course, I'm just seeing that now and wondering why I never considered it as a career when I was younger.- Hide quoted text - - Show quoted text - Ask those tens...or make it hundreds of thousands of financial workers who are being RIFed because of the housing bust...with more to follow. They have mortgages to pay every month...and educational loans to repay...just like everyone else. TMT I'm thinking of higher level employees- I don't doubt that many of them are overextended but they had a really good run and should have had some pretty decent equity built up. |
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