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The story BCG offered me $16,000 not to tell

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Re: The story BCG offered me $16,000 not to tell

#141

Post by gaius »

nekopa wrote: post #126
jrockway wrote: post #78

Earlier quoted context omitted.

Depends. If you are making $300,000 a year and live like you are making $15,000 a year (and save the rest), then you can retire at 30. Most people aren't willing to be this frugal, however. It seems some people making this much even have trouble "making ends meet", because they buy so much crap that they can't afford. Ah, consumerism. (In the interest of fairness, I am almost as bad -- I love buying stuff. I just sto…

The problem here is in the matter of status symbols. A quick tale for you: A consultant who gave me my start in the industry once had his car break down before an initial meeting with a client(Mercedes). He had to borrow his son's tricked-out VW boy-racer to get to the meeting on time. As he pulled into the meeting the clients were exiting their cars and saw him parking. He said the meeting never even really got star…

There are lots of little cues like this. The car you drive, the cut of your suit, the watch you wear. It's funny because this is an industry that everyone is aware is awash with charlatans, so everyone is looking for clues that the person they're speaking to is credible. Which is something that can obviously be hacked. Having said that, it does basically work. A guy wearing a huge Rolex is probably faking it, for example, it's just too obvious.

Re: The story BCG offered me $16,000 not to tell

#142

Post by count »

gaius wrote: post #110
microcentury wrote: post #39

"At my salary level, and with my expected advancement path, I could comfortably retire in my thirties." I've heard this or statements like it in quite a few articles over the years, but I've never actually met a retired thirties business consultant. Do they exist and am I just missing them? The only ones I know are well into their thirties, working 70+ hours a week, and looking forward to making even larger boatloads…

It's not true, is why. After 10-15 years at one of the top consultancies you could have completed outright the major capital purchases of your life (e.g. a house or two, maybe a boat) and could downshift to something much less stressful but you certainly couldn't stop working altogether. And these houses would be nice, sure, but we're not talking mansions with helicopter pads and servants here. Basically you would be…

Which you should be within 15 years...

Re: The story BCG offered me $16,000 not to tell

#143

Post by count »

gaius wrote: post #141
nekopa wrote: post #126

Earlier quoted context omitted.

The problem here is in the matter of status symbols. A quick tale for you: A consultant who gave me my start in the industry once had his car break down before an initial meeting with a client(Mercedes). He had to borrow his son's tricked-out VW boy-racer to get to the meeting on time. As he pulled into the meeting the clients were exiting their cars and saw him parking. He said the meeting never even really got star…

There are lots of little cues like this. The car you drive, the cut of your suit, the watch you wear. It's funny because this is an industry that everyone is aware is awash with charlatans, so everyone is looking for clues that the person they're speaking to is credible. Which is something that can obviously be hacked. Having said that, it does basically work. A guy wearing a huge Rolex is probably faking it, for exa…

On the other hand - if you've got the Armani suit, the Tag Heuer or Rolex, and drive the Porsche, you can only be 'faking' so much; obviously you've had some financial success.

Re: The story BCG offered me $16,000 not to tell

#144

Post by gaius »

jacquesm wrote: post #130
gaius wrote: post #110

Earlier quoted context omitted.

It's not true, is why. After 10-15 years at one of the top consultancies you could have completed outright the major capital purchases of your life (e.g. a house or two, maybe a boat) and could downshift to something much less stressful but you certainly couldn't stop working altogether. And these houses would be nice, sure, but we're not talking mansions with helicopter pads and servants here. Basically you would be…

To be able to afford something does not mean you can afford the upkeep of it. If you live frugal a little goes a very long way.

Exactly.

A good consultant could probably retire at 55 having set up his family well, private education for the kids, a bit of a trust fund, a comfortable retirement and bit of an interitance and so on. But as I say, this is not what most people would consider "rich". There's a good bit in Wall Street where Gordon Gekko is trying to explain this to Bud Fox. $100k salary and flying business class everywhere is not the same as $50M in the bank and a private jet.

Re: The story BCG offered me $16,000 not to tell

#145

Post by sigstoat »

sree_nair wrote: post #139
sigstoat wrote: post #18

i have the feeling, children or not, that we wouldn't have been hearing this story if the $16,000 offer had been a bit larger.

Can you tell me Why?. How can you morally judge a person without knowing him?,If his story is true, he gave up a $200,000/Annum Job.

because he spent that entire article telling us how great he was at rationalizing selling out. he pretty clearly had enough practice that he could've handled one last rationalization.

as far as judgment, i don't consider attempting to predict someone's behavior a judgment. i didn't say "he is an awful person". that'd be judgment. i was implying, though, that you shouldn't be impressed by his turning down $16k. the only thing that tell us about him is that his price is above $16k, and below $200k/yr.

and, there was no giving up of his job, in the end. i quote: "I was not surprised the day I lost my job."

Re: The story BCG offered me $16,000 not to tell

#146

Post by known »

arvinjoar wrote: post #13
kolya3 wrote: post #5

Great description of burnout: "What I learned is that burning out isn’t just about work load, it’s about work load being greater than the motivation to do work."

This is so true. My father took on a nightclub all by himself. It was a stupid move, he lost a lot of money doing that. What he was missing was a partner. Not only to lessen his work load, but also to keep him motivated. This is the reason you see musicians take 5 year breaks, or even quitting music. They are lacking in motivation. Look at the band Queen, They are still making music and touring, but half the band has…

"Not only to lessen his work load, but also to keep him motivated."

Advantages of doing http://c2.com/cgi/wiki?PairProgramming

Re: The story BCG offered me $16,000 not to tell

#147

Post by gaius »

count wrote: post #143
gaius wrote: post #141

Earlier quoted context omitted.

There are lots of little cues like this. The car you drive, the cut of your suit, the watch you wear. It's funny because this is an industry that everyone is aware is awash with charlatans, so everyone is looking for clues that the person they're speaking to is credible. Which is something that can obviously be hacked. Having said that, it does basically work. A guy wearing a huge Rolex is probably faking it, for exa…

On the other hand - if you've got the Armani suit, the Tag Heuer or Rolex, and drive the Porsche, you can only be 'faking' so much; obviously you've had some financial success.

Not really - the suit and the watch would fit onto a fairly normal credit card, for example. You'd be a fool to go into debt for them, of course, but people do, status symbols, even misguided ones, can be powerful lures. Rolex and TAG in particular are now almost anti-brands for that reason (same with Louis Vuitton luggage, Porsche, Burberry, etc).

The guys who signal to each other with these accessories are subtle and understated - their messages are intended only for others of their type. Anything a rapper would wear is out! Think Pierce Brosnan in Thomas Crowne or James Bond. He's a actor who is "faking it", playing the role, and doing that on screen takes a wardrobe professional who studies this full-time and the budget to spend not $2000 but $20,000 on a suit (really, that's what Brioni costs, and what the production spent) and I'm sure there are real "upper class" people who glance at Bond and spot all the little mistakes straight away.

Re: The story BCG offered me $16,000 not to tell

#148

Post by gaius »

count wrote: post #142
gaius wrote: post #110

Earlier quoted context omitted.

It's not true, is why. After 10-15 years at one of the top consultancies you could have completed outright the major capital purchases of your life (e.g. a house or two, maybe a boat) and could downshift to something much less stressful but you certainly couldn't stop working altogether. And these houses would be nice, sure, but we're not talking mansions with helicopter pads and servants here. Basically you would be…

Which you should be within 15 years...

Hah, every newbie analyst thinks he or she is sure to make partner. Maybe 1% actually do.

Re: The story BCG offered me $16,000 not to tell

#149

Post by c00p3r »

It's the same everywhere. For example, people who are reselling SAP in, say, Russia, are doing exactly the same thing - tuning numbers and telling lies. The better you're able to lie the better SAP consultant you are. There are no project with was completed on schedule and within budget.
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