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/sci/ - Science & Math

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3065069 No.3065069 [Reply] [Original]

Econbros report in!

Tell me your tales of success (or failure) with jobs/college/life. give advice to future generations. let's see the wealth

>> No.3065074

The only jobs available now are unpaid internships.
Losing.

>> No.3065091

I'm going to switch out of mechanical engineering, I was thinking about economics with a minor in math. Good idea?

I love analyzing systems and politics/current events, I just don't want to be paid to bullshit to people.

>> No.3065096

>>3065091
Become a quant. Get a masters or PhD in Mathematics.

>> No.3065102

Ive met two econ graduates. One was fresh and I presume he didnt have a real job but he said he didnt use any of what he learned.

The other worked at a bank, and said finance people make more money than he does.

>> No.3065103
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3065103

>>3065091

Consider careers and such available. Here might be a useful link for opportunities.

http://www.career.fsu.edu/img/pdf/mm/economics.pdf

>> No.3065120

>>3065096
Or Financial Mathematics. Quants are usually proficient in programming (esp. C++), statistics, and stochastic calculus.

>> No.3065125

>>3065120

Hey Mickey, how have you been?

I saw Dan Ariely and recorded his whole lecture. You want to see?

>> No.3065137
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3065137

>i put $20 in a box
>you put $20 in a box
>I sell the box to you for $30
>we both make $10 profit

>> No.3065138

>>3065102
Yeah. Why do you niggas not also major in finance? If you do reasonably well, you can get a job at an investment bank, PE or HF firm for $80k+ straight out of uni.

>> No.3065146

>>3065137

nope.exe

>>3065138

http://www.youtube.com/watch?v=ekSyFkwu_ic

>> No.3065147

>>3065125
Sure. Had a lot of stuff to do IRL over the past week. And I was banned.

>> No.3065156

>>3065096
I like math, but I don't want to be doing nothing but that all day every day. I want a career that applies it as part of its job but involves other activities.

Part of why I switched out of engineering is I found out I was not near as interested in the physical sciences as I thought I was.

>> No.3065159
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3065159

>>3065147

I preemptively answered you.

Also I got banned too. Totally unjust. I have been banned 4 times. All of them were not at all justified.

>> No.3065170

>>3065137
Heh, funny you say that, I was just having a conversation with my dad today about something similar. He's a sales manager & econ major and he was bitching about how accounting and finance fake growth by moving numbers around and inventing assets.

>> No.3065172

>>3065159
Well, if it's any consolation, the modfag that usually monitors /sci/ isn't an especially bright fellow. I think I argued with him once and then got a 2 day ban.
Oh, and thanks for the link. Watching atm.

>> No.3065173

>>3065170

Heh, thats funny, and unfortunate.

>> No.3065183

>>3065156
What about a company economist? Your analyses will heavily take into account current affairs.

>> No.3065191

hai guiz
I don't know anything about econ, complete neophyte.

Just a janitor in fact. I hire people to clean your offices for you. Have done for the last decade.

My biz only employs 16 people, but it's worth 3mil most days, and has been for the last 8 years. Me, I'm worth a bit more than that myself.

I'm not looking for advice, or offering any. Just wanted to point out that I know nothing of economics. G'day.

>> No.3065200

>>3065172
sci mods are fags that need to have their fingers removed

>> No.3065212

>>3065191

16 employes company worth 3 million

Don't think so Tim.

>> No.3065216

if investment banking pays so much money why dont more people do it

obviously anyone who can do mathematics/physics is smart enough to do IB

my guess is the 90 hour work weeks

>> No.3065221

my name actually is Tim...

accrual accounting method on firm assignable contracts spanning 6 years including gov and industrial contracts for millions. Accts rcvbl treated as assets, underwritten for performance and default.

it's not hard to hit millions on long term service contracts, even with employees.

>> No.3065223

>>3065216
>>3065216
Not that many people know about it
It's boring
It can be difficult
As a fellow poorfag, I would hate myself for screwing over the other poors even more in order to be making bank. I'm perfectly content with being solidly middle class with mid-tier engineering.

>> No.3065227

>>3065216

Not many people get to be investment bankers. Investment bankers have the potential to lose a lot of money very quickly. Only the best finance guys get to be investment bankers.

>> No.3065228

>>3065223
i know it's like a well kept secret

if i knew during highschool there was a job that makes 100-150k out of undergrad and can be making 1million+/year at 30, i'd have immediately gone for that, just like everyone else in my class.

>> No.3065240

>>3065223
I don't get it. Since when did screwing over the poor become a profitable M.O. for an investment bank, whose clients are often very wealthy individuals? And the environment's quite intense and competitive, so I dunno man.


>>3065200
Agreed.

>> No.3065244
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3065244

>>3065240

>> No.3065268

Any one in here looking to go into a PhD program in econ?

That is my plan. Im about 2/3 done with my BS as of now.

>> No.3065272

>>3065183
Yeah I've been heavily considering this, seems like it's a sufficiently in-demand and interesting career, as long as I don't have a moral objection to what I'd be doing.

Also, do economists have to specialize in either micro/macro before graduation, like how engineers have to specialize in chemical, electrical, etc?

>> No.3065281

>>3065138
Rare. If you're outside of Ivy league and don't know anybody, your shot at IB is essentially 0.

>> No.3065282

>>3065216

>if investment banking pays so much money why dont more people do it

Investment bankers make mega bank for the same reason any other job that pays well does: barriers to entry.

>> No.3065291

So who wins fags?

Keynes or Hayek?

WE'VE BEEN GOIN' BACK AN FORTH FOR A CENTURY

>> No.3065298

>>3065223
You would also have to psychologically deal with the fact that your job, at best, contributes nothing to the progress of society as a whole, and at worse deteriorates it.

>> No.3065306

>>3065272

No, they dont.

>> No.3065319
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3065319

>>3065272
>Also, do economists have to specialize in either micro/macro before graduation, like how engineers have to specialize in chemical, electrical, etc?

At the undergrad level, you usually don't unless you're doing an honours program.

And this is the sort of analysis conducted by company economists. Can't post the whole thing, unfortunately.

>> No.3065329

>>3065298
no you dont because the people aren't people, they're numbers on paper.

>> No.3065342

>>3065281
Really? Not all Ivies are target schools, and even those at high-ranking non-targets can get into IB. I'd say it's relatively difficult, not near-impossible.

>> No.3065347

>>3065298

>deciding how millions of dollars should be invested
>does nothing for society

>> No.3065356

>>3065347
>investing money
>useful to society
lolno

>> No.3065359

>>3065356
>implying society matters except insofar as what it can do for you

>> No.3065362

>>3065212

google has 20k employees and it's worth >$200 billion

I think you know fucking nothing of economics. Stop trying and go to bed.

>> No.3065364

>>3065356
Are you a moron?

>> No.3065368

>>3065356
It's literally the most important thing to society.

>> No.3065374

>>3065356
Come back when you've turned 12, faggot.

>> No.3065371

>>3065356
It's useful. It keeps our Jewish overlords happy, discouraging them from activating the LHC and summoning the Annukai.

>> No.3065380
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3065380

>>3065356

>hfw

>> No.3065382

>>3065356

If I had $20, that $20 could become anything. Companies would be no where without investors.

>> No.3065387

>>3065382
>>3065380
>>3065374
>>3065359
>>3065371
>>3065368

>see reply
>give normal response
>worry about being too harsh
>see others response.

Whelp.
>>3065364

>> No.3065392

>>3065382
>>3065380
>>3065374
>>3065371
>>3065368
>>3065364
>>3065359
I did not expect my post to generate so much mad, I am please with myself.

>> No.3065404

>>3065387
namefagging is notorious for toning down people's bile.

carry on.

>> No.3065411
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3065411

>>3065137

Can't... wrap my head... around this paradox... someone help meeeeee-

>head explodes

>> No.3065413
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3065413

>>3065392

>I am please with myself

One time, when I was a young resident /sci/ economist. This was, probably 4 years ago when I was about a junior in high school. I disagreed with my dad. He made some comment about investing because extremely important. I disagreed. I said it wasnt important as actually doing something. For example, doing what the investment was going into.

As Ive gotten older, Ive realized, you cant do anything with investing. I could go out into the woods and start a car company from scratch, but it would literally take hundreds of years. Or someone could just invest money into me.

Investment is important yo.

>> No.3065424

>>3065413
also could point out that investing is about the only way for most laborers to own any of the proceeds of their own work, or any work.

employees get subsistance wages, if they want anything more in life they need to invest.

>> No.3065426

>>3065411

1. Both A and B lose $20 and put it in box

A has -$20, and B has -$20

2. A sells the box for $30 to B

A has $10, B has -$50

3. B opens box and gets $40

A has $10, B has -10$

From then on, there was peace and harmony. And everyone lived happily ever after.

>> No.3065434

>>3065424

If more of the population actively traded stock, I think it would do a lot of good for society.

If normal people, and even anti-business people, were trading around based on how they felt the company was behaving, then companies would have a significantly larger incentive to please normal people.

Or maybe not. Maybe they'll all be dumb and trade for stupid reasons because they are all dummys who dont know anything in their idiot heads.

>> No.3065433

>>3065426

Thanks, I could feel pressure mounting up around my sinuses the longer I couldn't explain it.

>> No.3065436

>>3065413
....you, are a faggot, and nobody cares what the fuck you think

>> No.3065441

>>3065411
Think of it in terms of positive/negative cashflows. Dude buying box loses $10, while troll gets $10.

>> No.3065446
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3065446

>>3065436

>> No.3065453

The importance of investment really shines when its explained in a Robinson Crusoe type setting. I don't know if anyone is familiar with that though.

>> No.3065458

>>3065446
I bet you just scraped into your economics degree. Enjoy being a mediocre faggot, like all economists.

>> No.3065460

>>3065458

"Scraped into"?

>> No.3065461

>>3065458

0/10

fail troll is fail

>> No.3065464

nvm

>>3065426

captcha: ndomRegi {Hauser

>> No.3065466

>>3065458
paycheck envy?
don't go all psycho on janitors when you find out that they also make far more than you.

>> No.3065481

Listening to the Ariely talk. Interesting stuff.

>> No.3065482

>>3065466

is it always about the salary on /sci/ or do people go into fields because they actually enjoy it for its own sake?

>> No.3065480

>>3065460
Are you stupid?

>> No.3065485

>>3065480

What does "scraped into my degree" mean?

>> No.3065489

>>3065482

Thats crazy talk for religious people and hippies.

>> No.3065491

>>3065489

which part of it?

>> No.3065496

>>3065491

Im just kidding, that part where people do something out of enjoyment instead of money

>>3065481

Hey I dont know if it makes a difference, or if you noticed, but whenever he drew a graph on the board, I reproduced it in MS paint and put it in the youtube video. Just in case.

>> No.3065504

>>3065291

Hayek fo sho nigga

http://www.youtube.com/watch?v=GTQnarzmTOc

>> No.3065523

>>3065504
Just in case anyone thinks of taking the video seriously, it contains a multitude of strawmen. Entertaining, though.

>> No.3065527

>>3065496
Aight. I'll give it another listen when I get back.
Thanks for taking the time to record and upload the talk, btw.

>> No.3065537

>>3065527

Youre welcome.

>> No.3065541

>>3065496
nobody ever or ever will care about that slideshow you put together

>> No.3065545
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3065545

>>3065541

Well I dont know, I think some people enjoyed it.

>mfw when you are being mean

>> No.3065551

Don't do what i did. that'd be weird.

>> No.3065599

hit 14.3billion debt ceiling, wait for apocalypse

>> No.3065617

>>3065342
getting in IB is only possible if you aim for boutiques, in the case that you arent from ivies or target schools. it pretty much is near impossible.

>> No.3065660
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3065660

Y'all nigga be crazy.


I actually switched from Economics to Finance and I feel good about the choice.

Also working at an investment bank might be one of the lamest things someone can do. Not original at all. I'd rather work with a small business to help them do well with their money.

>> No.3066312

bump

>> No.3067186
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3067186

all yall nogs mad as hell