Wall Street Playboys - Advice from Real Wall Street Professionals
October 6, 2019 by Wall Street Playboys 121 Comments
Q&A is now closed thanks!
Multiple Revenue Stream Brah says
October 6, 2019 at 2:24 pm
1) When starting a new venture, how do you decide whether to start small or scale upfront?
I ask because proof of concept until profitable usually requires a serious time for money exchange. You could buy back a lot of this time by outsourcing upfront, but then you’d be breaking one of the rules from Rich Thought Process Pt. 1 (to “invest into nothing but cash flow positive assets.”)
2) Can you please clarify the difference between freelance work and selling when you wrote these guidelines “if you’re worth over $100,000 but under $500,000 you have to be proactive on both freelance work and selling, 3) if you’re worth over $500,000 you can focus entirely on selling”
PS – Wanted to thank you immensely. Have used your advice over the years to build a $2-4K/month side biz. Your three recent posts (Pt. 1, Pt. 2, and Where Do I Start) were absolutely amazing and made everything click for me. I re-read them 3 times each and am now taking action to take things to the next level. Thank you.
Wall Street Playboys says
October 6, 2019 at 6:50 pm
1) based on the conversions. If it’s converting well then you spend like a drunken sailor if not you have to start small
2) freelance work means time for money, selling is no time for money exchange (buying ads etc. selling a product online where its not a time for money exchange)
October 6, 2019 at 2:27 pm
Quick question on prioritization. Got into the Tech game In Client Success. Internally made my way to Product Management, but still getting paid as Client Succes (60K annually).
Trying to be efficient – Actively interviewing else where for 90-100 K job range for Product Manager positions at companies with way higher upside(Made several final rounds, no bites yet). Is it wise to use extra time developing technical skills that will help me land the higher paying job, then start building the business after I land a gig with more cashflow to invest in an online biz?
October 6, 2019 at 6:52 pm
With that low income you’re probably better off focusing on getting the job switch for now. Then after that starting a side business. Unfortunately $60K isn’t enough to help you save and if you have a chance to jump to $100K, take it
Emphasis to anyone who reads this his situation is the “exception to the rule” so don’t think we’d recommend this to any particular situation 99.9999% the answer is always side biz.
What quick and healthy dinner recipes can you recommend for those who are working a job (where the company doesn’t provide anything)/working on business at home?
I know in Efficiency you recommend a range of ingredients but wondered if you had any recipes stemming from them?
October 6, 2019 at 6:49 pm
Ha haven’t cooked in years so no clue honestly. Everything is made by someone else since we’ve got money now so unforutnatley can’t help here. We gave the highlights in the book that’s about the maximum
October 6, 2019 at 2:28 pm
What’s so bad about career focus women? They’re independent and not clingy
October 6, 2019 at 6:48 pm
Nothing bad about it, just not very caring at all. Career focused women are also typically more unattractive and hit the wall faster due to stress and poor diets
October 6, 2019 at 2:36 pm
Question on time allocation given 2 different business I am involved in (and focusing on cash flow vs equity – focus has been equity thus far). 28, 5% owner in a $2M+ revenue wealth management business in Midwest. Good mentor, but cash flow isn’t where I want it to be, but have equity. Growth is just slow in WM. It’s a grind and income grows with new Assets. Also have content affiliate business doing a couple hundred monthly.
How would you consider time allocation and where to focus more effort?
October 6, 2019 at 6:53 pm
You need a second stream of income. If not that’s where your time should be spent.
Make sure you’re still a top performer, but if you only have one biz you’re in trouble at age 28
October 6, 2019 at 2:46 pm
Not sure if I’m overthinking this problem or if it’s really that simple.
Two options –
1. Tech company – Sales – 42K base + 20K commission in Miami
+ Side job working $17/hr – 25+ hours weekly for B2C sales/no commission
Within 6 months = $16K saved, but no real career advancement
Make a move to Jersey City, NJ for
2. FinTech Company – Sales – 50K base + 45K commission/uncapped
Within 6 months = Not sure cause haven’t done life adjustment numbers, but career advancement in tech + finance space right next to NY
Should be simple one, but still unsure in my mind. Thanks
October 6, 2019 at 7:17 pm
Honestly not sure looks about equal. If pushed on it probably go to jersey
The job with better ability to switch is best. Unless hours are terrible then it might be better to stay and start a biz.
No matter what, have to start a biz as income (for now!) currently is just too low to get traction
Triple check those cost of living calculations!
Commie Insider says
October 6, 2019 at 3:01 pm
Regarding your previous post on dating. What would you suggest as an avenue for finding women if not online?
This is not a question but more of a post request: It would be great if you can write a post on how to become more self-aware / recognizing other people’s bullshits as you said in your post that’s an area where a lot of the younger readers are struggling with (social skills as the 3rd most important priority).
October 6, 2019 at 6:47 pm
1) same story meet them during the day or through friends. If you can’t meet women during the day your social skills need significant work
2) that’s an interesting idea not sure how to write it out
Consistent feedback from banking and my current role is I need to be more “aggressive” and “confident”. I’m laid back so can see how I received this feedback, but I’m very confident in the work I put out and the way I carry myself. Any strategies you recommend to fix this perception (or does this even matter if I keep making progress the way I want on my side business)?
October 6, 2019 at 6:36 pm
Just ask more questions or bring up points and secondly send some more proactive emails that’s really it. Just a perception issue fixed with emails and questions in public setting
October 6, 2019 at 3:11 pm
Being told I need an MBA to get into IB without prior IB experience. Should I try to get into Valuations group and then transfer into IB? Or switch gears completely and go into Sales?
October 6, 2019 at 7:09 pm
We covered all IB recruiting in here a billion times.
Not sure what you’re doing so can’t answer based on this comment and not searching the blog at all we’d say yes go to sales instead
Degenerate Salesguy says
October 6, 2019 at 8:37 pm
Question for WSPs.
Currenly saving 80% of income due to having zero fixed costs.
Post tax takehome in a small town is $4500 per month.
Have the option to do a seller financed rental propery accquistion for 20% down at a price of 75% estimated of value of property.
Guy selling because hes old wants to move to Florida.
October 6, 2019 at 9:33 pm
No way we can say yes or no to that it’s a specific property. If you are going to be there for over 10 years then Mor elikely a yes
Lefty golfer says
October 6, 2019 at 3:35 pm
After graduating, I took a SaaS Job at a enterprise company, our SVP came in and gave a speech about going into IB as an alternative was a smart move, In my eyes, highly concerning for someone that’s made it up the chain to recommend that. Obviously you need ownership but aren’t there better alternatives for higher paying careers to pair with building a business, not tech sales and your own business.
October 6, 2019 at 6:46 pm
Not sure what’s being asked here. Only 3 careers as outlined in efficiency after that have to start a biz. Everything else doesn’t work mathematically and people can cry all they want but the numbers don’t lie.
If people want info just call a welath management person and ask them how their clients got their money, same old story some small business and real estate
Lefty Golfer says
October 6, 2019 at 7:02 pm
To clarify would it be beneficial to try and break into IB or stick it out in tech sales? I am a top producer SDR but it seems most AE’s are leaving for other companies or going into business development due to stagnation and saturation in the space, The senior enterprise guys I do talk to say that 500K years are a once in potentially 10 years occurrence and it is very hard to maintain that number every year especially when quotas and territories change, 180-220 is a more realistic number.
October 6, 2019 at 7:10 pm
Would just stay in sales and start a biz. Wasting all that time to switch won’t pay off is our bet
Pucks deep says
October 6, 2019 at 3:42 pm
Currently 2y at top Canadian business school, looking to break into M&A. Also working 20h a week as well as president of student group. Have great idea for online biz in gambling consulting. Passion of mine and I’m pretty solid at it as well. Subscription based etc…. asking if you’d recommend I wait until graduation to begin this idea or drop part time gig to devote time to online biz
October 6, 2019 at 6:44 pm
Start it ASAP. No reason to wait
October 6, 2019 at 3:51 pm
How long does it take before you trust another human being, and how does that process work? Do you give them little missions or tasks to see if they’re honest?
There is no “test” you have to know them for 10-years and generally if you know someone that long you’ll deal with money and that says everything about them
October 6, 2019 at 3:55 pm
26 Year old, just started a job in a tier 2 city at a hedge fund, tech side (algo development/implementation). 100-120K a year depending on bonus. The celing is much higher, but all compensation is discretionary. I know the ceiling for my particular skillset industry wide is much higher as well. On top of this, I cannot immediately start a business in the same area while working for the fund for obvious reasons.
Would you recommend I try to become a top performer worldwide within my career and split after ~5 years if the fund cannot keep up with outside demand, or try and start a side business that is unrelated, if not merely tangential, to my skillset?
Recent posts have been top-tier btw.
October 6, 2019 at 6:43 pm
Same story, start a side biz use your parents name. The compliance nonsense is just an excuse, it’s perfectly legal to have your family own a business.
October 6, 2019 at 3:57 pm
1. Not a dating question but family – I come from an unorganized, broke but loving family. I moved out early for career but do see them often. The more experience and money I get in life, the more I cant relate to them – causes me irritation, and I imagine this gap continues to grow as I grow. I imagine the answer is probably to just deal with it but wondering if you had any advice or tips.
2. Don’t laugh, serious – how worried are you genuinely about STDs and pregnancies when sleeping around?
October 6, 2019 at 6:34 pm
1) yes just deal with it and if actually interfering with your life you have to cut them off (if truly toxic)
2) not at all if you only go for attractive girls who are young there’s is next to no chance you get anything. Only the gross ones with hundreds of partners that have stds
October 6, 2019 at 4:06 pm
Followed Efficiency. Cleared the numbers. Compounding + future biz revenue should get me all the way there if all goes well.
Work hours entirely my call. Finding much less interest in money. Could probably double income again here if I had any interest.
During day friends are busy at their office job. Not sure what to do with my time now, but wondering if I am taking my foot off the gas too early (not likely but what if biz stops overnight etc).
How do you know when you can take your foot off the gas pedal and how do you find motivation when you have no stress?
October 6, 2019 at 6:42 pm
You can only take your foot off the gas pedal if you’re rich enough to never work again assuming a 50% decline in your net worth at any time.
If you’re not there yet, your foot should be to the floor.
October 6, 2019 at 4:07 pm
Any way you guys can write an article for those of us who are inheriting wealth/successful businesses and wish to continue to build upon that wealth?
You’ve mentioned generational wealth (or lack thereof) a few times, would appreciate any insight you may have on this.
October 6, 2019 at 6:28 pm
No because we didn’t grow up with money and will never experience it so it would be useless advice based on “theories”
October 6, 2019 at 4:08 pm
is 50k really required for initial product development.. even if rebranding an existing product? ..
been following efficiency & don’t want to go affiliate. how can I test a small niche..skin care product without initially dropping thousands? ..
October 6, 2019 at 6:27 pm
Already covered, you just buy traffic to your sales page and when they check out should be an error message that says “out of stock” then you’ll know the conversion and sales number for fractions of the cost
let me rephrase that. If the ads covert at a good ROA number will I still typically need 50k ish to proceed? Can’t I just somehow scale up slowly …?
October 6, 2019 at 6:54 pm
IF the ads convert then you just borrow money from anyone possible and get the money to scale.
Scaling up slowly is just not true. If your ads convert its like a money making machine, you put a dollar in get a dollar and ten cents back so why wouldnt you want to go get the $50K. Doesn’t make sense.
October 6, 2019 at 4:21 pm
Age 24. Currently interviewing for accounting internships (I know not a good career path but I just discovered this blog). Between the two internships I think I will land, they are very similar in most aspects like pay, expected hours (one is probably 10 hours per week more than the other), culture, and prestige, so the main difference is going to be the industries they focus on. Question is are there any industries or areas I should value more? Or should I just go with the one with slightly fewer hours by default
October 6, 2019 at 6:41 pm
Sure technology is the better industry but end of the day lower hours is probably better if you’re serious about starting something on the side asap
October 12, 2019 at 3:22 pm
I was in a similar situation at your age, I’m now 26 and selling tech products for consulting firm. I had an early interest in accounting, becoming CFO, etc until I found this blog. If you do land the job, make sure it’s with a firm that has strong valuation/fdd reputation. Network, and transfer across to advisory. After a 6-month to year then apply for IB positions. Check out wallstreetoasis for advice. It helped me.
October 6, 2019 at 4:42 pm
1. Have around 30K liquid saved up + working on an online venture from the ground up. Do you guys recommend doing the website design/layout/buildout myself and learn it the hard way with online resources or pay a few grand to have it done professionally?
2. I’ve seen you guys bash on a few clothing brands (brooks brothers etc) so I’m wondering what custom clothing brands or tailors you actually do recommend in Manhattan area. I’ve used Proper Cloth and liked their service but curious to hear thoughts.
October 6, 2019 at 6:40 pm
1) no answer, if you’ve already tested it and its profitable then go for it. If you’re spending ahead of sales this is the exact way to lose your shirt
2) just go made to measure or extremely cheap. Made to measure is stuff like suit supply, extremely cheap would be for throwaway items
October 6, 2019 at 4:45 pm
What are the best cash flow assets you would invest in right now? I was thinking about buying online businesses on flippa, but a lot them seem so scammy. Any recommendations?
October 6, 2019 at 7:12 pm
Hilariously that is quite literally the only one we’d do. Just need to look through the garbage to find the good ones
October 7, 2019 at 8:15 am
Haha ok thanks a lot. Apart from buying online business are you investing in other Cashflow assets?
October 7, 2019 at 9:05 am
Nothing just old RE investments that are in the green
October 6, 2019 at 4:52 pm
23, negative net worth, feeling lost with anxiety and kinda lost.
Do you consider languages as a talent? I have noticed that i can learn them faster and improve my fluidity and pronunciation very fast, some people have told me it’s impressive so i guess is kind of a talent.
I am good with these but tbh I haven’t learnt or noticed a way to exploit them to make money of it.
October 6, 2019 at 7:07 pm
No but if you are good with words/languages you should be good at sales over time. Go in that direction ASAP
SF Tech Sales says
October 6, 2019 at 5:14 pm
AE at early-stage SaaS startup, can prospect to any and all companies outside F500. average deal $70k. spend free time prospecting while territory still boundless, or on starting side biz ASAP?
October 6, 2019 at 6:39 pm
Always the same, side biz is most important. need two income streams. IF you go into a recession and lose your job your income goes to 0.
October 6, 2019 at 5:19 pm
I have an idea for an e-commerce apparel company but don’t have design skills ie Illustrator for clothing design, tech packs, logo design etc. Would you recommend learning the requisite skills myself or outsourcing the sketch designs for a manufacturer?
October 6, 2019 at 6:26 pm
Outsource that one in our opinion
October 6, 2019 at 5:27 pm
What’s your worst pain-point when building an online store?
October 6, 2019 at 7:06 pm
Unquestionably dealing with people and managing people in general. Not even a close second
October 6, 2019 at 5:29 pm
What qualities do you look for in a woman you’re dating?
October 6, 2019 at 6:25 pm
Pretty much the same as everyone else, attractive, loyal and low partner count
Having a career or being smart isn’t really relevant to us
October 6, 2019 at 10:46 pm
Not to shit on your parade, but it’s ironic you seek the same ideal partner as any regular person. Wouldn’t it be more efficient to do the opposite of regular Joe and not worry about partner count or monogamy?
October 6, 2019 at 11:10 pm
This comment makes no sense. What we’re saying is we just avoid low quality women. The high partner count people are generally awful to be around and actually can fuck up your life. Feel free to never be monogomous that wasn’t even mentioned
Doing the opposite of regular guy would
Be dating ugly chicks
Regular guy “wants” the models but never gets them. Same with how regular guy wants money but is always poor. These are Two things every person in the world wants so doing the opposite would make little sense. A third would be healthy and in shape.
October 7, 2019 at 5:58 am
I misunderstood loyalty as meaning monogamy
October 7, 2019 at 8:57 am
Nah it means she doesn’t set you up for drama
October 6, 2019 at 5:31 pm
I am ramping up in SaaS Sales Role- looking at year 1 of W2 between 110-125K. Full OTE earnings puts me at 140K. I also have Contractor income as a sports official of $700 month. Spending about 15 hours month there.
1) Go all in and focus all hours on Saas role and push 150-200K? But lose side income immediately?
2) Drop officials work and start focusing on scalable recurring business idea while maintaining performance in sales road allowing natural ramp up to occur.
3) Open to another route?
Question is around time allocation and focus of 60-70 hr workweeks, trading time for money, and when to start building a business.
October 6, 2019 at 6:38 pm
You’re only working 60 hours a week this doesn’t seem to be a real question
Only time you go all in on a biz is after it is 2x your current career/salary. $700 a month is not much.
You should be working 80 hours if you have a real opportunity to scale a biz not 60. Then in a year or two you already know if it’ll work so your hours go down tremendously while income stays the same. Thats how the game works
October 6, 2019 at 5:32 pm
Recommendation/opinion on municipal bond CEF’s? VYM portfolio is decent size, have cash on hand to buy equities in recession, and in top income bracket. Thanks.
We don’t deal with bonds for the most part just check out triangle investing for what we invest in long-term
Yields are just too low
October 6, 2019 at 5:38 pm
When you say don’t buy RE unless you are sure you want to live there for 10 years. Does that also count for rental properties -especially if you have a management company run a duplex?
Thanks in advance!
October 6, 2019 at 7:14 pm
No this is covered in triangle investing
October 6, 2019 at 5:43 pm
What are the 5 software tools (web or
app based) most useful to your business right now?
October 6, 2019 at 7:04 pm
Already in efficiency, the other stuff is private so we wouldn’t share gives away our edge and kills our biz (also would be easy to know what it is)
October 6, 2019 at 8:30 pm
what about tools to stay productive and manage your time in general?
October 6, 2019 at 9:27 pm
Don’t use any tools for productivity management. We know those are popular but never needed them
October 6, 2019 at 6:02 pm
25 years old – Favorite venues/bars in LA you prefer going solo? Seems like an LA thing but going out, everyone seems to be in their cliques and I find a lot of judgement when I tell people I’m out alone.
Do you have “hacks” for productivity? I personally like going to different cafes to avoid making it feel like such a cyclical grind, wondering how else I can make making money online more “fun” like an rpg game.
October 6, 2019 at 6:24 pm
1) never lived in LA so can’t really help. Just stay around Santa Monica, Venice and West Hollywood. We just know people there and only go to private events
2) all our hacks are in the books/blog. Not sure what you mean here, the only people who are unproductive are losers and lazy people, we are neither
1. If you’re looking to outsource content marketing (writing blog post), from your experience, where is a good place to find people to hire?
2. I work in a tech hub city with shit guy/girl ratio. What venue/event/place would generally have a high concentration of high quality girls assuming I m stuck here for the time being? (I’m in my low 20s).
October 6, 2019 at 6:55 pm
1) we have no experience here so can’t help.
2) During the day is best, if you’re in a terrible city that’s your best bet as most are socially weak and rely on alcohol to get courage to talk to people
2. I find that I just don’t get much exposure in generally during my day. That’s why I m wondering where are places to spend more time in.
October 6, 2019 at 7:11 pm
So Change your schedule… time management problem you have if the girls during the night are not good looking. No other solution
October 6, 2019 at 8:02 pm
I am a sophomore in college – fortunate enough to have landed an ibd SA internship in NYC for after sophomore year at a European BB(not DB lol). Which of the following should I do?
a) spend my time getting into a top group within the european BB either soph or junior summer and pursue it FT also
b) use it as a stepping stone and spend time aiming for a top EB/BB for junior summer/FT
c) aim for junior summer analyst position at a megafund(vista equity, blackstone, kkr)
d) aim for a product management role at a top tier tech company in SV(software engineering doesnt match my skills)
October 6, 2019 at 9:35 pm
None, just get a return offer and learn online sales ASAP.
It’s not like your life will change Much as long as you go to BB. Apply to PE etc if you want but still nothing matters without a biz. Will never get rich in time
October 6, 2019 at 8:14 pm
Currently in tech sales, early twenties, totally sick of company culture and politics.
Not sure how much longer I can stand it, you guys recommend spending time finding a different company or just leaving and launching copywriting biz/doing affiliate?
Expenses are low and have a decent amount saved up
October 6, 2019 at 9:30 pm
Launch side biz while at work, unless you’re already set for life you are not allowed to complain. Keep gas on pedal, could go into a downturn or get cut so not sure why you would ever quit with nothing lined up
23 years old, location: Eastern Europe
Analyst in a local top management consulting company. Current net salary: $12k/year
(1) Project Manager – $23k/year net, 4 years from now to get here
(2) Exit to corporate – $35k/year net, before exiting should work ~1yr as a project manager, thus 5 years from now to get here
(3) Exit to PE (if lucky) – $50k/year net, same as above
Currently working 55-65 hours / week
Since career in my country is highly underpaid I see only two options here:
(1) Don’t be overachiever at work and try to build a side business
(2) Work hard and try to land a job in London/Europe or MBA in a top EU school
What would you recommend?
Some additional info: in my country $500k has the same purchasing power as $1M in USA. My current cash savings: ~$7k.
October 6, 2019 at 9:28 pm
Easy answer, get a biz ASAP. MBA is worthless nowadays
Do you own in Miami and NYC and just spend less than 183 in NY? Moved to Miami for taxes but finding NYC hard to break up with, dating options just too good. Your opinion on California is rightfully negative for taxes etc, but haven’t seen your opinion on NYC with the same punishing rates.
October 6, 2019 at 9:26 pm
Yes that’s the correct strategy. Every set up is different, so it’s case by case we don’t know your situation. Nyc isn’t good enough to justify double digit tax increases
October 6, 2019 at 9:05 pm
Currently working a desk IT job at which there are some downtime to run own business at work, but sometimes work load becomes too much and occasional having to find myself put in extra hours, and get flagged for under performance, as I spent a portion of my time at work doing own thing. any political strategies to make it seems to the management that I am working really hard and be assigned less work? I would occasional sent out email during the after hours to appear that I am working really hard for them. Thanks.
October 6, 2019 at 9:24 pm
Can’t help as never in that industry, as long as you’re in the top quartile you’re fine.
Not sure how we can help when we never worked in the industry. Back when working the goal was always to be the “A-“ person to avoid any harassment
October 6, 2019 at 9:11 pm
I’m 24. If I already have physique, location, and the ability to spend when going out (based on your old numbers), how do I compete with men who are 30+? These guys look older and have more “life experience” so even if I can spend exactly the same, girls who are 27+ and girls who are 21-23 all go for them. Do I need to raise spending to compete? This is a serious issue for me when going out.
October 6, 2019 at 9:23 pm
Nope you are good to go, over spending will likely just make you seem more immature, just talk to more people and improve your social skills and it won’t be an issue anymore
October 6, 2019 at 9:16 pm
Software Dev in Chicago currently interviewing. Have a couple offers already so anticipated salary is anywhere from $120K – $140K. Thinking of moving downtown as that will make transit much easier. Your new book may answer this (looking forward to it) but what’s the upper limit on what I should pay for rent?
Also, been tracking net worth in accordance with the “$1M in 10years” plan, but I believe in one article you mentioned that you don’t include 401k in the equation. Can you outline how exactly you calculate net worth?
October 6, 2019 at 9:32 pm
If you are under 25 the answer is the cheapest possible housing you can do. Should be too busy working and getting rich.
Net worth is everything excluding 401K and primary residence.
October 7, 2019 at 12:41 am
Just turned 32 (wish I’d found this site 10 years ago). How does that change things?
October 7, 2019 at 10:44 am
Doesn’t change much unless your goal posts have changed (what you’d like to do with your life in the future). Would sit on this and come back for next Q&A with exactly
What your future should look like (ideally)
the world says
Any experience with stackthatmoney.com forum, is it worth the 99 dollar to join, are the information helpful. Have used other forums, eg, warrior forum, blackhatworld etc, but seem to be people trying to promote their own product mostly. was thinking of sign up for stackthatmoney for a day and copy and read the contents and cancel right away.
Never used it
“Already covered, you just buy traffic to your sales page and when they check out should be an error message that says “out of stock” then you’ll know the conversion and sales number for fractions of the cost”
Wanted to clarify this point you mentioned above. Currently using SEO to test conversions on a new product idea but finding it hard to rank so wanted to go the paid ads route.
1) are there a efficient ways of buying traffic? Or will we just have to go with a shotgun approach ie. Pay for ads and narrow the scope until you eventually find a demography that converts well.
2) any other ways to test conversions besides buying ads and SEO?
October 6, 2019 at 10:00 pm
You have to take risk. So do your best to find the ideal competing ad copy them and target the audience the best you can
Everyone prays for hacks/cheats and they never work.
People always ask us “how long to make $10K a month” and the answer is always the same. You could get there in 5 days or never even make a cent. It’s like asking “how long until I can run a mile in under 5 minutes”. Some people can do it based on pure talent others will never even break 6 minutes for a mile no matter how hard they try.
October 6, 2019 at 10:12 pm
1. What is your pick, Kovalev or Alvarez to win?
2. Late 20s, 140k salary with flexible working hours. Ran a business bringing in 30k a year but have stopped it as market has dried up and more competition has entered. Total net worth is 8k (mainly properties, cash and small amounts of crypto). Have not focused on personal relationships. (I have neglected this for the past couple of years)
Should I switch from making money to a social/personal relationships focus or continue on the money making path?
October 6, 2019 at 10:21 pm
2) undeniably need to get your money straight. Just socialize when you’re tired and keep it cheap by doing things outdoors
Based on you updated net worth then yes you need to get your social life Ramped up (we hid the comment for your privacy)
October 6, 2019 at 11:03 pm
Early 30s software engineer, $200k liquid. Wasted first decade of career working for failed tech startups (low 100k range salary, worthless equity). At algo trading shop now, $350k total comp. Do I spend my time trying to increase numerics and become a quant for bigger comp, or just start side biz doing consulting etc now?
October 6, 2019 at 11:09 pm
Can easily do both. Same old stay top quartile, extra time to biz
October 6, 2019 at 11:49 pm
I asked a very similar question at 3:55 in this thread. I think WSP is right. Our competition most likely is not putting in the hours/are focusing on fixing their problems form poor social skills. I think you can become a top quant and still make a business on the side. Since you have half a decade over me, any tips on which services in our area we can offer without hitting compliance headaches?
October 7, 2019 at 6:30 am
Neither of you are in big tech (I work at FANG) what compliance? You can literally do anything the big companies do like social media, shopping, maps, etc. I assume you are Tower HRT IMC so aside from maybe the hours the world is your oyster. Try making a social media platform while working at Facebook.
October 7, 2019 at 7:00 am
If you’re front office, they probably own you and your ideas – check your contract. The WSP idea of starting a biz in family name is interesting and smart, I hadn’t thought of that.
You could also form an S Corp for yourself, IF you can work in a consulting capacity for your company. If you don’t care too much about losing benefits this will be fine, especially because you should be making a higher marginal rate. But the real value is that you can control a lot more of the contract language and thus own more of your own IP.
Other than that, you could try a side biz in something outside of the asset class you work in – compliance might be ok with this.
October 8, 2019 at 9:25 am
Do you guys have tips for breaking into your realm from another area in tech? i.e. What to do to skill up for an interview, or what to emphasize on a resume to get the foot in the door? I’ve worked at a big bank as a dev building a risk platform for 4 years. Definitely have become pretty solid at all types of development, and I’ve also been good at math (will need to freshen up though).
October 6, 2019 at 11:16 pm
I want to start a website that offers those recruiting for IB a resume review service and mock interview to start “dipping my toes” in the water
Do you think I can remain anonymous i.e — don’t use my name, but still sell my credentials effectively? I fear the political repercussions if I post my name on the website and it gets around the firm
October 6, 2019 at 11:22 pm
Yes you could but it would take a lot of time and it would likely be lower income. Also not a biz model we suggest Wall Street oasis and mergers and inquisitions already dominate the field
Also that industry is getting significantly less attractive so it’s not a good one long-term
October 6, 2019 at 11:42 pm
Thanks for the prompt reply.
As someone who spend a lot of time at the desk I’m still at a loss for what I can do form the computer to earn money while on the job.
I’ll continue to work learn as much as I can about sales and copywriting by executing on efficiency and get started in affiliate marketing, would you agree with this approach?
October 7, 2019 at 12:08 am
Our blog already has tons of “how to start” posts so just go there we’d just copy paste stuff.
Our approach is already in the book and will never change, two incomes ASAP or you’re falling behind every day the sun rises
Media buys says
October 7, 2019 at 12:10 am
How do you get hired into a media buyer role in an affiliate marketing team (revshare model)?
October 7, 2019 at 12:14 am
That’s pretty much it, you’re going to want to reach out directly and try to get a recommendation
Wouldn’t recommend doing all that work for that industry though, but your choice
October 7, 2019 at 12:20 am
Thanks – why do you recommend against it?
October 7, 2019 at 12:35 am
Not going to make any real money from it unless you become an owner
October 7, 2019 at 12:21 am
1) Any tips for a 3rd world black guy who likes white women?
2) What “sprinkles” do I have to add to my growing sales skills to translate to dating? (Already working out and sorting out wardrobe).
October 7, 2019 at 12:38 am
1) no clue as we don’t have any experience being from that background, would find someone doing it right with your background and ask them
2) the difference between dating and sales is you have to transfer more emotion. You have to move through more types of emotion while in sales the whole game is just excitement.
October 8, 2019 at 4:57 am
October 7, 2019 at 1:11 pm
1. I know where ur coming from. / the mindset you have.. be handsome, fit, dress well (no baggy fashion / street wear).. aim for clean cut tailored look. If you have an accent get rid of it. and tone down on the aggression .. it only works with sistas but scares white women. If you’re not strikingly handsome, use social circle/be friendly to the types of people that hang with the chicks you want to date.
P.s. If you view yourself as “3rd world black guy” that tells me u see them as above you.. aka you’ve already lost. Gotta view it differently. “I’m a black guy whose different/not ratchet.. makes lots of $$… fit.. well spoken, big fkn D..and though I’m from a 3rd world country.. I can offer a more culturally diverse experience to these chicks.. “
October 8, 2019 at 5:04 am
Thanks for the tips. I live in Nigeria, but travel out on occasion hence the “3rd world” clarification . You’re right though, I kinda see western women as unattainable. Gotta stamp that shit out.
October 8, 2019 at 9:20 am
To add the other guy’s response. I think you gotta ask yourself why you want specifically white girls? Because I think the high quality ones will feel something off and know you are just going for them because they’re white and it’s like an achievement. If you do what he says, it will def help you get laid with even hot but still mid level. If you want the best you should open up and just go for girls that click with you (who you really are and not completely a fake projection).
But yeah, go for high quality dress nothing flashy. Build quality social circle (meet guys who you can benefit through your skills or connections). And never be too physically or vocally aggressive. Just be a smooth dude who enjoys life.
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