51–59 of 59 posts
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> In Egypt, unemployment of college graduates is higher than for non-college graduates. If pay is also higher then college could still be +EV.
Thats not how EV works. It all depends what the increase in pay and unemployment are.
Good salesmen in high-commission industries like software, pharma, high-end real estate, etc. will make much more than a good engineer will over their career. I had a buddy in sales who closed an enterprise software deal and made $80k from that alone. He had a lot of deals cooking.
I'm curious about this. What does it take to make a "good" salesperson by this definition? Just grit and experience, or some innate and uncommon skill? I know there are people who make millions working in sales, but I guess I'm just wondering how common that actually is. Should a reasonably motivated and intelligent salesperson early in their career expect to be making $200k+ a few years in, or does that take a very…
It really comes down to making people (a) think that your shit (mostly YOU) will help them with their problems and (b) feel confident in trusting you.
As for comp: Most people in sales jobs go through ups and downs in their annual comp largely because most of it comes from commission and bonus. You could make >$1M one year and <$100k the next. Technical sales are more stable since salaries tend to be higher, but comp is still highly variable. Also, unlike engineering where one's performance criteria are somewhat superfluous, sales is a very numbers-driven job. Most have quotas they need to hit with bonuses for every level above that. Not hitting your quota == not having a job next month/year in some places.
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Every great salesperson I know is fearless in any social situation. They can strike up a conversation with anyone, anywhere, anytime - effortlessly. You can't teach that. There are a host of other qualities, but this strikes me the most "inborn" one.
You can teach that, or at least learn it, with cognitive behavioural therapy for social anxiety and practice in progressively more difficult situations.
it is very hard to replicate the behavior of someone that just loves being around people. i can usually tell who is a "natural" and who isn't (i.e. those that went through therapy, coaching and the like)
learning how to be around people can't really be done in a safe space since the world at large in unsafe. people will say dumb shit at you. people will cut you off. people will do unexpectedly nice (or mean) things. everyone is different.
the only way to truly learn these skills is to get out there and be vulnerable. i can see how classes and sessions can get you to a point at which one is comfortable enough to even BEGIN doing this (I went to a few social anxiety meetups with friends), but that alone isn't enough.
getting to the root of that anxiety with a psychologist is more effective, in my (limited) opinion, but that can be expensive for many
you CAN get pretty far on the basics though. most people like being around someone that is humorous and makes them feel good about themselves. you can go REALLY far by finding what someone really likes to talk about and letting them talk (while asking questions throughout)
podcasts with interviews from journalists or news companies helped me with this a lot
Good salesmen in high-commission industries like software, pharma, high-end real estate, etc. will make much more than a good engineer will over their career. I had a buddy in sales who closed an enterprise software deal and made $80k from that alone. He had a lot of deals cooking.
Anecdotally when Oracle signed a deal with BT for oracle anywhere the salesman "retired" on the proceeds.
at the right company with the right compensation structure, a handful of $100M+ deals can set you up for a LONG time
I'm not sure if this is a good way to quantify it. It was always common for people to get low end jobs after graduation. It's not the jobs they've done in the last 5 years that are of interest, it's the ones they hold after 5 years.
I'm not sure we should expect anything differently, if recent graduates are less intelligent (as a cohort) than ever. [Difficult degree] enrollment is relatively flat because aptitude is flat, and grad jobs will reflect this. I wrote a little about this framing it as a CS degree problem, but it seems true for a lot more than just CS. > Can we prove aptitude is flat? Kinda. In 1970s 1-in-2 college grads aced Wordsum t…
Thanks for writing that article. I'm extremely disappointed in the CSU system's decision to give college credit for remediation classes. As a society we need to really reassess the purpose of higher education in light of increasing student debt, flat grad salaries, and decreasing quality of graduates. Anecdotally, I'm still baffled at those in my extended social circle who followed a path similar to: - Graduate high…
We're extremely luck to work in an industry where meaningful experience only requires a time investment, all our tools are free (or near free) and we can collaborate with other people around the world.
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You can teach that, or at least learn it, with cognitive behavioural therapy for social anxiety and practice in progressively more difficult situations.
ehhhhh sort of it is very hard to replicate the behavior of someone that just loves being around people. i can usually tell who is a "natural" and who isn't (i.e. those that went through therapy, coaching and the like) learning how to be around people can't really be done in a safe space since the world at large in unsafe. people will say dumb shit at you. people will cut you off. people will do unexpectedly nice (or…
People LOVE stories they can see themselves in. Gets their imaginations all worked up.
Also, EVERYBODY has incentives. Money, becoming a 10x developer, travelling the world, being a better parent. All of these are incentives.
If you don't believe me, check this out.
Remember the last time you got pitched a timeshare? (If you ever went on a heavily discounted Disney vacation, you almost certainly did.) The salesperson working the room will spend at least the first 15-30 minutes setting the scene. "You. Puerto Rico. Corona. Beach. Need I say more?" type stuff.
Pyramid marketing salespeople do the exact same thing to build their downlines (i.e. hire more people under them). They spend 80% of their presentation on how much you can make and maybe 10% on what they're selling (the other 10% is lost to heat).
Luxury brands are THE MASTERS at this. (I would not be surprised if hip hop icons got some kind of commission/free clothing from high-falutin haute fashion brands; luxury setting is all they do!)
They seem cheesy, but people eat stories up (and, consequently, buy product) like no tomorrow.
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Wages have been stagnant since the 1980s: http://www.epi.org/publication/charting-wage-stagnation/ Lots more to read here: https://www.google.com/#q=wages+flat+since+1980
https://fred.stlouisfed.org/series/COMPRNFB Total compensation per hour has increased 44% since the 80s.
Is it just me or does it seem like $40k has been the default for far too long. I believe (anecdotally) that it's been the average white-collar entry-level salary since the late 90s/early 2000's. Seems that the number isn't adjusted for inflation and should be closer to $45 or $50k in 2017+
You also need to include other benefits as well. Benefits as a percent of total compensation have increased heavily over the past 20-30 years. Now they make up ~30% of an employees total compensation. https://fred.stlouisfed.org/series/COMPRNFB
for the 1%.