- #106
Niles
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twofish-quant said:You do realize that physics Ph.D.'s are a pretty good way into finance.
Does that work only for theoretical PhD's, or also experimental?
twofish-quant said:You do realize that physics Ph.D.'s are a pretty good way into finance.
twofish-quant said:It's more like 500K. Also, it's not one person. If everyone on your block except for you made 500K more than you did, and displayed it in obvious ways, then you are going to feel poor. One problem is that if you are around people that are a LOT richer than you are, your definition of comfortable starts go change.
This happens a lot in NYC and the other major financial centers. If you want down Fifth Avenue, you'll see shops and services that are intended for people that make over $20M. People can and do get into their private jet, fly to NYC, spend $500 a meal, blow $50K on a shopping trip and then fly home to their estate in Barbados. Once you *see* people do that, then your definition of comfortable changes.
Also if you actually talk to people like this, they aren't going to be your neighbor or your friend. Something that you have to realize about investment bankers is that most of them are merely extremely highly paid bank tellers. If you are an investment banker that makes $200K, then a hyper-rich oil baron will look at and treat you like a waiter or a bank teller, because you are.
You might deal with it by being "proud to be poor", but it's something that you can't ignore. Personally, I deal with this by laughing at the absurdity of the hyper-rich and getting a little angry that people can make that much money (which is where Karl Marx comes in).
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TMFKAN64 said:Being ridiculous doesn't make it any less true.
General_Sax said:Meh, it's not a fact that one's definition of comfort changes.
However, it is true that the wealthy lifestyle is ridiculous.
TMFKAN64 said:I'll agree that *some* people are immune to the effect... but studies have been done (yes, I know, handwave, handwave), and *most* people do judge themselves in comparison to the people around them.
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clope023 said:Let me ask you something, why would you care about any of the things you mentioned? Why would you be so obsessed of keeping up with the Jonses when you know its stupid and unnecessary?
franznietzsche said:You consider $90,000 low?
$90,000 is more than double the average kid.
if you're that obsessed with your paycheck, don't bother with physics. Post docs make $50,000 maximum (in general). Usually less. Tenured professors or industry physicists make $90,000 to $110,000.
I'm sorry, but you ahve no real understanding of money if you consider $90,000 low. Either that or you come from a horribly spoiled upbringing. Or both.
twofish-quant said:Nope. It's the economic structure of the market. I'd like to teach "Intro to Astronomy" I'm probably perfectly competent to teach "Intro to Astronomy." It's just that without a way of turn that class into money, no one is going to take it.
brno17 said:At 90 000, your lucky if you end up with 10 000 in your pocket at the end of the year.
brno17 said:You are wrong!
$90,000 (in Canada)
Lets see.
90,000 x 0.64= 57 600 After tax
That is what you get after tax, I am not even mentioning living/car expenses.
At 90 000, your lucky if you end up with 10 000 in your pocket at the end of the year.
Silverbackman said:Guys, don't get me wrong. I am just not after the money. If only was then I wouldn't bother on making this thread. I keep telling my parents that it is better to do a job you enjoy than the money but they keep saying it is better to have money.
There a couple of reasons why I myself want more money. One reason is that I want to go into politics later in life and you have to have lots of money to be sucessful in that line. Secondly I want a better life than my parent. My father makes on average $112,000 an year as a small business owner, so that is why I judge $90,000 a bit lower. It probably is not bad pay at all, so just because I found out most theoretical physicists maker around that much it doesn't mean becoming that profession is out of my idea.
What if you were to find a major discovery as an theoretical physicist such as a way to travel time ec.t ect. Wouldn't that boose your pay up? There is so much to discover in this line work so it is very likelly I will discover something big. Won't it booste your pay?
galib20 said:Hi! I am from India and a doctor. I am adding some case studies for you to take decision.
1. The all India IIT JEE topper for the year 2011, took up computer science & eng. He has decide to pursue physics after completing his B Tech(called BS in US).
Implication: You can move into applied physics after your BS in several engineering fields including Electrical, electronics(they are separate in India), computer science.
galib20 said:for MD/MS starts at 60K a year median would be 400K for physicians and 1000K for surgeons in superspecialities
Silverbackman said:My father makes on average $112,000 an year as a small business owner,
brno17 said:You are wrong!
$90,000 (in Canada)
Lets see.
90,000 x 0.64= 57 600 After tax
That is what you get after tax, I am not even mentioning living/car expenses.
At 90 000, your lucky if you end up with 10 000 in your pocket at the end of the year.
Vanadium 50 said:It is still more than what 95% of the people make.
Silverbackman said:Guys, don't get me wrong. I am just not after the money. If only was then I wouldn't bother on making this thread. I keep telling my parents that it is better to do a job you enjoy than the money but they keep saying it is better to have money.
There a couple of reasons why I myself want more money. One reason is that I want to go into politics later in life and you have to have lots of money to be sucessful in that line. Secondly I want a better life than my parent. My father makes on average $112,000 an year as a small business owner, so that is why I judge $90,000 a bit lower. It probably is not bad pay at all, so just because I found out most theoretical physicists maker around that much it doesn't mean becoming that profession is out of my idea.
What if you were to find a major discovery as an theoretical physicist such as a way to travel time ec.t ect. Wouldn't that boose your pay up? There is so much to discover in this line work so it is very likelly I will discover something big. Won't it booste your pay?
Eratosthenes said:Success is waking up every morning and being able to do whatever you want, and if that thing you want to do happens to be your job, then you have made it.
biophysicist said:If you wanted to, you COULD just go into Applied Physics, go on to work for Wall Street, and just make twice as much as a doctor? As you said, normal doctors make about $200,000 a year (after several years of experience). With the same experience, you could be making $400,000 on Wall Street (probably MUCH more than that to be honest, depending on how efficient you are). A double major in theoretical and applied physics sounds VERY possible. Have fun with wormholes and the like while in college, but then when you go out into the real world and try to get a job, you could go to be a Quant (Quantitative Analyst) or maybe a consultant. That's what I thought of as one of the many plans I have had for my future.
chill_factor said:if you actually looked at applied physics curriculum then it's clear that you're going to be nowhere near finance if you did what their curriculum and research asked for. are you in college yet?
biophysicist said:Quantitative Analysis doesn't have as much to do with money as some of the other fields. Most of Quantitative Analysis is being good with numbers in general. I have done my research and a lot of Wall Street workers have a strong Physics background, especially in Applied Physics because of the way they think. But I learned at RPI that Physics can actually get people really close to Wall Street... Well I already knew this but RPI sort of confirmed it. You just have to be willing to learn the money part, and the Physics looks really good. In recent years, majors are becoming less and less important. In fact, college in general is becoming less important. My best friend's father didn't even go to college and makes millions per year. Well that isn't my point, but the major alone isn't what dictates your career choices. It's your entire background... If you majored in Biology in college, and you had an internship with an artist, then you could end up drawing leaves and bugs if that's what you enjoy... while someone else with a Biology major who took some courses in programming could end up just keeping records for some sort of health insurance company. It depends more in your background and overall goals, as well as your marketability, rather than your major. I say pick a major that you find most desirable, but make it closely related enough to at least some of your intended career paths so that you still have a shot at the career. One course could make the difference between a computer programmer and particle physicist researcher for MIT... or the difference between a game designer and an engineer...
ok... do I talk too much? It's 4:52AM and I just said all this, and I don't even know if half of it makes sense... but oh well