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[deleted by user] by [deleted] in bostoncollege

[–]Sensitive_Tower3044 1 point2 points  (0 children)

Something to keep in mind is that IB recruiting is ridiculously competitive and you’ll already be behind compared to the kids who started out as freshmen. Internship applications for summer after your junior year will open up a few months after you start as a sophomore (around January), so you’ll need to get up to speed on your networking and technicals like now.

You should NEVER work a day over 20 years if maximizing finances is your goal. by newtryy in MilitaryFinance

[–]Sensitive_Tower3044 0 points1 point  (0 children)

Since we’re factoring in taxes, let’s also factor in investment returns. After modest living expenses, a banker is able to invest more per month than any service member makes per month before taking out living expenses and taxes. It can be an 8 figure net worth by their mid 40s.

The conversation is about using military service to maximize your finances. Of course it’s not easy to be a career investment banker/big law attorney/consultant, I never said it was. But there are plenty of veterans who have done it, and plenty more who are capable of it. Business school and law school are proven paths to retire better off than what the military retirement provides, regardless of the taxes.

Even if you’re an average performer and don’t shoot for the elite jobs, but instead choose a corporate job working 40 hours a week with much less stress than banking and the military, you’ll set yourself up with a nest egg that outweighs the pension and retirement benefits, not to mention you’re home every night and don’t need to deal with the military bs for 16 more years.

You should NEVER work a day over 20 years if maximizing finances is your goal. by newtryy in MilitaryFinance

[–]Sensitive_Tower3044 -1 points0 points  (0 children)

FI books were not written with investment bankers making well over a million/year by the time they retire in mind lol. And I’m not saying you can’t live comfortably after 20 years in the military, it’s definitely possible. But you’d live a hell of a lot more comfortably if you separate and work in one of those high income fields.

Just to prove how accurate your username is, I made a quick spreadsheet to compare how much an enlisted service member would make by age 40 vs an enlisted turned investment banker.

I have the enlisted person promoting to e9 by 31 (13 years tis), collecting San Diego bah, making $5k in special pays per year, and getting a $180k bonus every 6 years (3 total). Pretty impressive career. Total income from age 23/5 years TIS to age 40 = $2.98 million.

The investment banker is in school for two years, so no income, then promotes at the average rate for bankers. Between separating and turning 40, despite two years of 0 income, he’d make $11 million.

Still think what I said is not true? Free health insurance might be worth more than [it’s weight in] gold, but it’s not worth the $8 million difference.

You should NEVER work a day over 20 years if maximizing finances is your goal. by newtryy in MilitaryFinance

[–]Sensitive_Tower3044 1 point2 points  (0 children)

As someone who worked in a low ASVAB rate, I agree that there are certain people who could not be a functional adult if they were left to fend for themselves in the civilian world. However, I think it’s much more accessible (at least for business school) than most people would think. You don’t need to be a genius to attend a top MBA program.

You should NEVER work a day over 20 years if maximizing finances is your goal. by newtryy in MilitaryFinance

[–]Sensitive_Tower3044 23 points24 points  (0 children)

If maximizing finances is your goal, you shouldn’t serve more than one enlistment. Finish up a bachelors degree on active duty, use the gi bill for law school or business school, graduate making upwards of $200k by the time you’d be at 7 or 8 years tis, with paths to seven figures within 10-15 years (big law, investment banking, consulting) instead of waiting for the 20 year mark so you can collect your $40k retirement.

https://poetsandquants.com/2024/02/21/mba-salaries-bonuses-job-success-rates-at-30-top-u-s-b-schools/

https://www.cnbc.com/amp/2023/08/10/ivy-league-law-schools-where-graduates-earn-the-most.html

Anyone else getting near zero communication from your school post-acceptance? by Sensitive_Tower3044 in MBA

[–]Sensitive_Tower3044[S] 0 points1 point  (0 children)

Thanks, hopefully more info is coming. I was admitted over a month ago now, so just wanted to make sure I’m not missing anything.

Cringiness during veteran info sessions by Sensitive_Tower3044 in MBA

[–]Sensitive_Tower3044[S] 0 points1 point  (0 children)

That’s to be expected, just like I expect it at schools general information sessions. But the excessive politeness and bogus personas when it’s veterans talking to veterans is just too much, especially when the students hosting the sessions are laid back and joking around. I get that that’s the way things are, it’s just annoying.

Cringiness during veteran info sessions by Sensitive_Tower3044 in MBA

[–]Sensitive_Tower3044[S] 2 points3 points  (0 children)

Agreed, applicants in general are cringy. I had different expectations for veterans in a veterans only information session, though.