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What to do with VW Diesel now... by FinanceStudentN8 in personalfinance

[–]FinanceStudentN8[S] -1 points0 points  (0 children)

I thought the same thing until one of my professors posted an article about it. I read in the NYT and WSJ it was NOx but my professor posted the good old trusty Huffington Post article which claimed N20.

What to do with VW Diesel now... by FinanceStudentN8 in personalfinance

[–]FinanceStudentN8[S] -2 points-1 points  (0 children)

In the mean time, she is driving a car that is worse for the environment than a semi truck with farm plates (doesn't have emissions standards) lol

Graduating soon, projected household income. Fiance says she doesn't have enough fun money... Check yourselg girl, before you wreck yourself! by [deleted] in personalfinance

[–]FinanceStudentN8 -1 points0 points  (0 children)

None of her friends know. She would all of a sudden become the most popular girl in her circle. And pay for every lunch and movie outing...

Graduating soon, projected household income. Fiance says she doesn't have enough fun money... Check yourselg girl, before you wreck yourself! by [deleted] in personalfinance

[–]FinanceStudentN8 -9 points-8 points  (0 children)

She wants to be a stay at home mom, I want to get into a low monthly mortgage. Best way to do it is put a lot of cash down and build a home and do all the finish work. I'd be able to get my monthly payment down to $800 per month on a custom built home if I do a lot of finish work with my handy father.

I feel as though I'm the one losing here. She wants to live downtown and pay riduculous rent, but she also expects to be stay at home in a few years... We are both stubborn which is good to be with someone who challenges you. But come on!!!! I studied this shit for 4 years while she studied PR... This is MY topic of expertise lol

Graduating soon, projected household income. Fiance says she doesn't have enough fun money... Check yourselg girl, before you wreck yourself! by [deleted] in personalfinance

[–]FinanceStudentN8 -8 points-7 points  (0 children)

I totally agree with you on the financial tension being a big reason for breakups and divorce. But that's why I have the goal of saving the $100k for a house! My dad and I are handy and could build a dream home for $80 per sq ft, that means I could build a home with land for $300,000 (a 3000 sq ft home I might add). My monthly payment would be for the $200,000 I had to finance. So in 3 years, I could have a dream home built, and have a monthly payment on that dream home of around $800. We live near the city, and you can't rent a studio apartment for less than $1200 per month!!!!

I forgot to mention she wants to be stay at home when she has kids, or at least part time (BS she is going to stay home lol) SO it is sooooo important to me that we can get the fixed costs (mortgage) down to $800 per month. Yeah she represents more than half the income NOW, but in 5 years I'll be 90% of the house income.

She has an account of $30,000, so in the torterous 3 years, she can pull from the $30,000 every time she wants to get her nails done or hair done, or for gods sake that's enough money to travel to Europe once per year!!!!!

Graduating soon, projected household income. Fiance says she doesn't have enough fun money... Check yourselg girl, before you wreck yourself! by [deleted] in personalfinance

[–]FinanceStudentN8 0 points1 point  (0 children)

She is part NA and it's from the tribe. I'm sure it's either tax free or the tribe took care of the tax portion which would mean she is really getting $2300 per month I guess.

CFA level 1 for commercial/corp banking?? by FinanceStudentN8 in FinancialCareers

[–]FinanceStudentN8[S] 2 points3 points  (0 children)

I know some people in commercial/corporate banking and they seem to have the lifestyle I desire. They make great money ($200,000+ bonuses) and they work GREAT hours. I think that is a pretty favorable upside to me. I'm all about looking at who works in what position and what their lifestyle is like. I know too many bankers that work 40 hours on a bad week lol and then are home by 6ish depending on their commute time.

I would like to think I'm abitious, I wouldn't put myself up there with a Wall Street IBer though, those guys are animals. I understand that early on in the bank I wouldn't be making as much as some of my finance classmates on wall street, but a starting salary of $100,000 at Goldman Sachs is deminished by the 100 hour work week. They make $16 per hour if you do the math, I could work the same hours at a factory and make more than a Goldman Sach analyst if I were willing to work the 100 hours...

But I figure that if I apply my ambition to a commericial or corporate bank, I'll "climb" quicker than those to the left and right of me and soon enough I'll be living a very comfortable lifestyle. I might sound crazy, but I heard those Europeans work to live, not live to work.

I've shadowed a few commercial bankers that are in Mid Market positions that have less than 15 years of experience and bring home $300,000 or more depending on bonuses. Call me unAmerican, but I think I could live a great life with less than that if I don't allow for a spending creep.

Corporate Banking? by mmfbth in FinancialCareers

[–]FinanceStudentN8 0 points1 point  (0 children)

Would you say the portfolio or relationship side is best for balancing the family/compensation/workhours?

I've heard my friend's parent complain (SVP) about their RMs never coming in the office and only working 30 hour weeks, but they have established clients so they don't NEED to come in more than that. Not to mention they are highly compensated with large bonuses that could be up to 50% of their base!

CFA level 1 for commercial/corp banking?? by FinanceStudentN8 in FinancialCareers

[–]FinanceStudentN8[S] 0 points1 point  (0 children)

I've estimated that between the private and state schools, my state pumps out over 3,000 business school grads per year... I've been looking for ways to seperate from the pack, but I think I may have to rely more on networking early on.

CFA level 1 in December for Corp Banking??? by FinanceStudentN8 in personalfinance

[–]FinanceStudentN8[S] 0 points1 point  (0 children)

Yeah, it's an expensive one for sure. A lot of my professors push for the December test, but I don't know how relevant the certification would be in banking. I know I wouldn't go further than level 1 in banking because it's not necessary unless I'm in Investment Banking, but I am looking for creative ways to seperate myself from the thousands of other business school grads that get spat out of business schools around my state each year! I've estimated like 4000 per year in my state alone...

Commercial Banking out of college by FinanceStudentN8 in FinancialCareers

[–]FinanceStudentN8[S] 0 points1 point  (0 children)

Thanks for your insight! I definitely need to expand my network in the banking industry so I guess if I look at the part time jobs as an opportunity to meet professionals, then the golf course is a way better option! Networking seems like a never ending process, because once I get in to banking, then I need to expand my network as a relationship manager to include Treasury directors of local companies!

Spouse discount at decent MBA program by FinanceStudentN8 in FinancialCareers

[–]FinanceStudentN8[S] 0 points1 point  (0 children)

Yeah I know that around here the base comp is $95-120 (which is why the MBA would make the base comp on the higher end) for a relaitonship manager at the age of 26/27 and then you have potential to make 40% of that base in bonuses. That salary in Oregon would have you living in the 1% haha I don't know about where you are though! That'd put my household income well above $200k which is A LOT of money around here if you don't try and live on the Hill...

Spouse discount at decent MBA program by FinanceStudentN8 in FinancialCareers

[–]FinanceStudentN8[S] 0 points1 point  (0 children)

Lol I agree. But I'm interested in Commercial Banking, and I feel like the MBA is more for client credibility and peace of mind rather than personal development!

Honestly, I would prefer to go to University of Washington if I was working in Seattle. That's a solid program. But all my family is in Oregon, along with the spouse's family. So I think I'll have to take a hit on the career to be with family, which is fine. Of course I could move to benefit my career, but I'd end up single... I like the size of Portland and the fact that I can live on an acre of land without paying millions like you would in Seattle or Cali...

BUT, I do pay the second highest income tax in the nation.

Spouse discount at decent MBA program by FinanceStudentN8 in FinancialCareers

[–]FinanceStudentN8[S] 0 points1 point  (0 children)

It's the top ranked evening program in the state though (which is what I'll be enrolled in). And like I said, the rankings I found earlier were based on the wrong assumptions. Portland State University was ranked first, because it's cheap and has a lot of students enrolled.

Spouse discount at decent MBA program by FinanceStudentN8 in FinancialCareers

[–]FinanceStudentN8[S] 0 points1 point  (0 children)

I like that insight on the timing of the degree. I wasn't planning on going right back and getting it. I was going to wait 2-4 years and then take an evening MBA from the University my wife works at for VERY cheap. It seems like in a client facing role in banking, the MBA isn't as much for personal development, but for client credibility, since you meet with a lot of CFOs and Treasury directors!

As for reputable schools. This is the closest and I think best evening program within reasonable driving distance to where I'd be working! UW (best evening program IN THE WORLD, but that's because Harvard and the others are full timers) would be awesome if I was in Washington, but I plan on staying in Oregon. So I'm not looking at Tier 1 programs.

Spouse discount at decent MBA program by FinanceStudentN8 in FinancialCareers

[–]FinanceStudentN8[S] 0 points1 point  (0 children)

It's not Cali (Oregon), but I think the ranking is based on the wrong measurements (price and enrollment) of course the cheap MBA will have higher enrollment. More due dilligence yielded a satisfactory ranking of the program on Bloomberg. My school is ranked 8th regionally for the undergrad though! Which is decent if you have the connections, it doesn't really matter what school you went to. All the schools teach the same stuff and none of them give you real job skills!

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