Any Economists'/Econ Gurus?
Originally Posted by GPMike,Oct 23 2008, 09:20 AM
The training is pretty good I will give them that, except for all the PC diversity bullshit they shove down your throat. After going through that you don't even want to be in the same room as a female co-worker for fear of a lawsuit 
But back to the person who mentioned the long hours at law.
Salary of law student starting at a decently large firm in a large metro area = 120-150k. Hours....most likely 80 plus.
Salary of an accounting student starting in a Big 4 in a large metro area, roughly 50-60k. Hours on average: 60, with busy season (Dec-apr) its 80 plus hours.
So pretty much the same hours but 40 percent of the pay.
Factor in many states now require a 150 hour rule to sit for the exam....I'd rather do two more years of school in law vs. accounting.

But back to the person who mentioned the long hours at law.
Salary of law student starting at a decently large firm in a large metro area = 120-150k. Hours....most likely 80 plus.
Salary of an accounting student starting in a Big 4 in a large metro area, roughly 50-60k. Hours on average: 60, with busy season (Dec-apr) its 80 plus hours.
So pretty much the same hours but 40 percent of the pay.
Factor in many states now require a 150 hour rule to sit for the exam....I'd rather do two more years of school in law vs. accounting.
law student starting salary could be 150k, but lets not forget about the post tax 150k minimum you spent on law school.
so figure 5 years out of undergrad, you will break even. however, there is a lot more upside to a lawyer than accountant after 5 years.
accounting hours or units can be easily had if you take course at the local community college. i got all my accounting units that way, and the best part was, the classes are super easy and can be taken online!!!!
if you live in california, UC santa barbara offers a summer cpa prep course that gives you 24 accredited accounting units in one summer. Bonus: living in isla vista will be the best summer evar! when i went it cost like 3-4 grand.
i am in accounting, but read a lot of contracts for my job. I dunno wut is more boring, being an accountant or lawyer. meh, its actually not that boring if u have internetz. i have surfed to the end of the internet and back 14x and my fantasy teams are updated to the minute!
Originally Posted by trainwreck,Oct 23 2008, 12:47 PM
big 4 is where all the females are at!!!
Although most of the women, especially first and second year staff were pretty hot. Got to keep a good face on client service.
Originally Posted by trainwreck,Oct 23 2008, 10:30 AM
its Haas Bschool at Cal...
not saying its impossible. but if you have ever gotten a C in any class, u can cross off stanford bschool from the list.
not saying its impossible. but if you have ever gotten a C in any class, u can cross off stanford bschool from the list.
.Those schools aren't my final choices, but money talks, and if my employer wants to pay.. I'm sure I'll end up at a nice ivy league. VC's and the like can be big money, and when you know some of the top dogs in the SV it makes life a tad easier. It's not what you know, but who, remember

Originally Posted by espelirS2K,Oct 24 2008, 08:27 AM
My bad I spelled it wrong
.
Those schools aren't my final choices, but money talks, and if my employer wants to pay.. I'm sure I'll end up at a nice ivy league. VC's and the like can be big money, and when you know some of the top dogs in the SV it makes life a tad easier. It's not what you know, but who, remember
.Those schools aren't my final choices, but money talks, and if my employer wants to pay.. I'm sure I'll end up at a nice ivy league. VC's and the like can be big money, and when you know some of the top dogs in the SV it makes life a tad easier. It's not what you know, but who, remember

my roommate works in private equity, my older bro worked in private equity and is graduating this year from hbs, and my little bro works for goldman...even they cant help me break in. VC's and PE's are the most exclusive club. usually its 20-30 guys that manage billions.
the type of people you are competing with for these jobs have been training for that kind of stuff since 5th grade. i would say 80% have attended private boarding schools since middle school with tuition that costs more than my undergrad tuition.
if you really want to break in, steer clear of accounting. concentrate on landing a strategy/management consultant or ibanking job. then make your move. also read up on "vault" materials. GL
[QUOTE=espelirS2K,Oct 22 2008, 03:12 PM] So today in my MicroEcon class my professor asked for examples of perfect competition and I proposed Car Dealer ships because the fufill all five requirements:
-Many Buyers/Sellers: Obviously true tons of dealerships, and always SOMEONE wanting to buy a car
-Homogeneous Products: New-car dealers always sell the exact same manufacturer, while in a macro prospective, it's un true about perfect competition, but per certain manufacturer, it's true as they all sell the same models of honda, toyota, etc (do not include used car)
-No Barrier market: Obviously if you have money, anyone can become a car dealer, that's not an issue.
-Buyers and Sellers Set Price: true because the market does set pricing for new cars, regardless of the price the manufacture sells (MSRP) it can be lower if there is no demand. Exact opposite in the sellers case if there's a lot of demand, they'll sell above MSRP there for giving them the advantage in certain cases
-Small Market Share: There's so many so of course they only have a small market share
But my Professor was saying that they may offer different SERVICES for their new cars, i.e. warranty packages, service packages, etc.
-Many Buyers/Sellers: Obviously true tons of dealerships, and always SOMEONE wanting to buy a car
-Homogeneous Products: New-car dealers always sell the exact same manufacturer, while in a macro prospective, it's un true about perfect competition, but per certain manufacturer, it's true as they all sell the same models of honda, toyota, etc (do not include used car)
-No Barrier market: Obviously if you have money, anyone can become a car dealer, that's not an issue.
-Buyers and Sellers Set Price: true because the market does set pricing for new cars, regardless of the price the manufacture sells (MSRP) it can be lower if there is no demand. Exact opposite in the sellers case if there's a lot of demand, they'll sell above MSRP there for giving them the advantage in certain cases
-Small Market Share: There's so many so of course they only have a small market share
But my Professor was saying that they may offer different SERVICES for their new cars, i.e. warranty packages, service packages, etc.
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