Apartments for Low Income

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Your Questions About Luxury Apartments Nyc

May 28, 2013

David asks…

Investment banking vs management consulting?

Hello. I recently applied for a job at numerous companies and got offers at my top choices. I have my MBA. Goldman Sachs (investment bank) and McKinsey and Company (management consulting which is consulting companies on how to run their company) both are offering my jobs in NYC. I would love to be super rich, have a family, and become an executive of a fortune 500. I am debating on which offer I should take. Here are pros and cons.

Goldman Sachs
Pros- make six figures and 60 k more than McKinsey, work in NYC, get job offers at hedge funds after a few years at GS, great company to have on resume.
Cons- normal work weeks are 110 hours each week, no work life balance, when you leave you most likely can only get another financial job, job growth rate is really bad, would have no time for a family.

McKinsey and Company
Pros- Six figures a year and seven figures when partner after 6-8 years with the firm, great company to have on resume, normal work hours, great work life balance, have time for a family, travel only in the first few years, great benefits, most people who leave after being partner for some time go on to become fortune 500 Executives and are super rich (could easily afford a private jet and a mansion and a luxury apartment in NYC and a lamborghini), more opportunities for when you leave the firm, your role greatly impacts a huge company which is exciting.
Cons- less pay than investment banker.

Overall, I think McKinsey is better since even though I won’t be making as much as I bankers in the first few years, when I’m partner, I’ll make a ton more and when I leave, I could get a job as senior management/executive at a fortune 500.

What do you think?

Administrator answers:

If you want to be a top executive at a F500 company then let us compare the alumni of both companies. The choice is apparent.

Http://en.wikipedia.org/wiki/Goldman_Sachs#Alumni

http://en.wikipedia.org/wiki/List_of_McKinsey_%26_Company_people

Lizzie asks…

Investment banking career vs management consulting career?

Hello. I recently applied for a job at numerous companies and got offers at my top choices. I have my MBA. Goldman Sachs (investment bank) and McKinsey and Company (management consulting which is consulting companies on how to run their company) both are offering my jobs in NYC. I would love to be super rich, have a family, and become an executive of a fortune 500. I am debating on which offer I should take. Here are pros and cons.

Goldman Sachs
Pros- make six figures and 60 k more than McKinsey, work in NYC, get job offers at hedge funds after a few years at GS, great company to have on resume.
Cons- normal work weeks are 110 hours each week, no work life balance, when you leave you most likely can only get another financial job, job growth rate is really bad, would have no time for a family.

McKinsey and Company
Pros- Six figures a year and seven figures when partner after 6-8 years with the firm, great company to have on resume, normal work hours, great work life balance, have time for a family, travel only in the first few years, great benefits, most people who leave after being partner for some time go on to become fortune 500 Executives and are super rich (could easily afford a private jet and a mansion and a luxury apartment in NYC and a lamborghini), more opportunities for when you leave the firm, your role greatly impacts a huge company which is exciting.
Cons- less pay than investment banker.

Overall, I think McKinsey is better since even though I won’t be making as much as I bankers in the first few years, when I’m partner, I’ll make a ton more and when I leave, I could get a job as senior management/executive at a fortune 500.

What do you think?

Administrator answers:

I will suggest Banking career. Cos it has less stress and effort to income a high salary. So the choice is yours. For any job related questions you may like to see this link:

http://www.ugrowu.com/main_sitedoc_grow_sourcing

Charles asks…

Does this sound like a good career path?

I got my MBA from harvard business school. I would love to be super rich, have a wife, have kids, have a mansion, and have a luxury apartment in NYC. So far, I have been offered two jobs. 1 at McKinsey and Company in NYC and another at viacom international in NYC. Both are huge companies and viacom is a fortune 500, however, for job growth and starting salaries, McKinsey sounds like the best option. Also, my dads friend who is a mega rich guy who is an executive of viacom, he says I should learn some business management skills from the management consulting firm (McKinsey) and then join viacom as a senior posit . McKinsey pays it’s first year associates $200,000 plus a bonus. Each year, as your work gets more interesting, you get a higher salary. After ten years with the firm, they most likely promote you to partner and most partners at the firm are making multi millions a year. So here is my proposed career path that I would like, but I realize things change for the better or for the worst.

1.take the job offer at McKinsey and Company as an associate and make six figures a year with tons of hard work and travel.

2. After ten years or so, I would hopefully be promoted to partner and make multi millions a year. If I were to start a family, this would be the time.

3. After five years as partner, I would apply for a senior management position at viacom international. I would then hopefully be promoted to an executive and make a killing a year?

I know that this is probably unlikely to happen like this, but if it did, would it make me very rich? Some people say you need to start your own business to get rich, but can’t your job make you rich if you climb the corporate ladder? If I had a choice between starting my own business and working at a firm, i would take the firm job even though a small business would require less time. I would take the job since the job is a more of a chance that you will make six figures, and a small business involves risk.

Administrator answers:

A management consultant making $200,000+ a year in their first year? Investment bankers at bulge bracket firms make $150,000 – $200,000 in their first year. That salary seems out of proportion.

If all you want to do is work and make a lot of money become an investment banker. Start at 150k work a years as an analyst make around 300k. Move on to MD after 5-10 years and make anywhere from 500,000 to 1mm. If you get to the top rank you’ll be pulling several mill a year. The only down side is all of the work time, 80-100 hours, 80 on average. You can move into PE and make more money will less hours, but not drastically less. Consulting… You have to travel a lot, fly here fly there, meet with clients.

You have to do that for investment banking but like 90% of your time is in an office. If all you want are models and bottles go into investment banking.

Robert asks…

Management consulting career?

Hello. I recently got my MBA from grad school. I have been offered jobs at huge management consulting firms (McKinsey,BCG, and Bain) that pay six figures right out of grad school. Each year, your pay increases and job growth rate is high. After ten years, you are usually promoted to partner and make 1 plus million a year. Once you leave the firm, you have tons of business management knowledge and cash. Your opportunities for your next career is huge. Most alumni from these firms go on to fortune 500 companies and become CEO. My goal is to get super rich, have a family, have a mansion, and have a luxury apartment in NYC. I would probably stay with the firm for 5 years after becoming partner and then move onto viacom where I would apply for a senior management position and make my way up to executive. I would then retire.

I also have an idea for a business. It would be a web consulting firm that consults clients on their websites and web businesses and how they could achieve certain goals. I am great with determining what a eel company needs to make revenue, traffic, and marketing. However, if I have a job, I would not have time to start the business. Maybe I could do this as a fun project when I retire, work the company for a little, and then sell it off. Also, I think it would be easier when I retire since I would have time and I would gain experience from my jobs at viacom and the other co silting firms.

Normally, I would agree that people who make bad income should quit their job and start a company. However, I am being offered jobs that could easily make me super rich. I am thinking that when I am in apposition for a really high paying job, it makes more sense to work for someone else, than start my own company.

What do you think?

Administrator answers:

I think that if you are being offered the kind of jobs that you indicate you should definitely take one. Judging by your writing ability i think you are over rating your ability

George asks…

In my line of work, I often here complaints about immigrants and others working under the table…?

The prostitute that Elliot Sptizer bought apparently hasn’t paid taxes on any of the money she earned that supported her well enough to afford a luxury apartment in NYC. Will she have to pay back those taxes? Or will this be spun somehow and she will be a victim who deserves to not pay back taxes?
The media is reporting that she will probably not be prosecuted in exhange for her testimony and it is being down played as a victimless crime, but considering that someone earning minimum wage would be prosecuted for tax evasion, I wonder what places this prostitute earning $1000/hr above the law. I am angry that she is not being forced to pay back taxes for all of her earnings as a prostitute which seems to be a helfty sum. 33% (single person)of each $100,000 she earned is $33,000.

Administrator answers:

That is so frustrating. Most of us work for a decent living and it’s frustrating to hear of those who just don’t pay their fair share of the taxes. Especially when those people have nicer things than the average hard working person.

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