You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Looking for advice coming out of college!
- Thread starter Josh26
- Start date
Quote from PAPA ROACH:
I would recommend you plan on a career other than trading as a foundation, especially if you want a family in the future. You will have the ability to trade on the side and learn over time, (a "degree" in trading only comes through time and lessons learned). At some point in the future you may decide to make it a full time profession or just keep it as a side hobby.
I think this is good advice: do both. And be careful about what money you risk and when. Don't jump right in. Sim/paper trade for a year or several months first to gain confidence and slowly ease into live trading over another year.
Josh,
After thinking more of your situation, I'll say I am extremely envious. I wish to god I could be 1 year out of college, I know without a doubt what I would do.
This may fly in the face of many here, but for me I would join the Navy. Many reasons here, first being that with a 4 year degree, you will become an officer. It sounds like you may be a little like me in your quest for risk, adventure, glory, etc. The cool jobs you can train for are amazing; aviation, special warfare (SEALs), medicine, maritime engineering (maybe command a ship one day), etc.
Put in 20 years service and draw a retirement pension the day you leave! At say 42 years old, you are a retired Naval Officer, with many incredible job opportunities ahead, including toying with trading, and drawing a check for 75% of your highest pay.........for the rest of your life.
Unfortunately I am too old to even consider this. All I will say is trading isn't a glorious existence, a life of the related stresses that accompany trading take a toll.
http://www.military.com/benefits/military-pay/retired-pay/military-retirement-system
After thinking more of your situation, I'll say I am extremely envious. I wish to god I could be 1 year out of college, I know without a doubt what I would do.
This may fly in the face of many here, but for me I would join the Navy. Many reasons here, first being that with a 4 year degree, you will become an officer. It sounds like you may be a little like me in your quest for risk, adventure, glory, etc. The cool jobs you can train for are amazing; aviation, special warfare (SEALs), medicine, maritime engineering (maybe command a ship one day), etc.
Put in 20 years service and draw a retirement pension the day you leave! At say 42 years old, you are a retired Naval Officer, with many incredible job opportunities ahead, including toying with trading, and drawing a check for 75% of your highest pay.........for the rest of your life.
Unfortunately I am too old to even consider this. All I will say is trading isn't a glorious existence, a life of the related stresses that accompany trading take a toll.
http://www.military.com/benefits/military-pay/retired-pay/military-retirement-system
I agree completely. I've seen a lot of people jump from their BA/BS to an MBA and try and find a job afterwards with very little luck. An MBA with no experience in this job market == one very expensive useless degree. Job experience is absolutely necessary before and MBA. In fact, most employers have tuition reimbursement so getting the employer to pay for it is another benefit to getting a job 1st. The key is getting that job...
Quote from TheGoonior:
If you can jump in to the workforce, I'd do it. I think an MBA looks better once you've got some experience under your belt. Then your resume looks more like "guy who has spent some time in the trenches and has some advanced learning" as opposed to "kid who has no clue about the real world and has only spent time in the classroom" Plus, it seems that your desired job is going to have lots of learning you can only get through OJT.
One other possible huge benefit is that many employers often subsidize or even fully fund continuing education for programs that apply to their duties.
The downside is that it is more difficult once you've entered the workforce and takes more effort on your part.
My $0.02.
So many of these threads are by guys who never respond. I think it's a form of spam.
I had the same dilemma 30 years ago. I chose not to get my MBA and worked very hard until 50 when I retired. At 43, I took some specialized training to update my technical skills and kept a spreadsheet of forgone earnings versus higher pay on new skills and truly earned back my investment in knowledge.
MBA's were needed for a bygone era in my view. They have caused a lot of damage to companies, along with some good stuff. If the SHTF in the government debt area, they may be wiped out. In tough times, you need superb corporate operations folks, not spreadsheet and presentation people. That edge is almost done. All this is just my opinion now, I may change my views in a year or two.
Don't aim for where companies have been, aim for where they will be. Read the broad landscape, discover the really tough problems, and move to be the solution. If MBAs come back, then learn that. If you discover something else needed much more with less competition, become that and become the best one in that field.
So, if I were as you described. I would go find work and learn marketable skills and particularly broad-based skills. Make sure you actually like what you are doing or you will not be able to keep the high internal drive up for many years that produces sterling results.
After a few years, these decisions will be much clearer to you and you achieve them after hours while you are earning. Heck companies may even help you pay for them if you are perceived as the real deal. There are very few mistakes out there, simply turns in the road for those who can read the future signs today.
I learned to trade in the evenings and on the weekends after my job was done. Don't forget money isn't everything. You need to at least like what you do.
Good luck and I would love to be where you are today.
MBA's were needed for a bygone era in my view. They have caused a lot of damage to companies, along with some good stuff. If the SHTF in the government debt area, they may be wiped out. In tough times, you need superb corporate operations folks, not spreadsheet and presentation people. That edge is almost done. All this is just my opinion now, I may change my views in a year or two.
Don't aim for where companies have been, aim for where they will be. Read the broad landscape, discover the really tough problems, and move to be the solution. If MBAs come back, then learn that. If you discover something else needed much more with less competition, become that and become the best one in that field.
So, if I were as you described. I would go find work and learn marketable skills and particularly broad-based skills. Make sure you actually like what you are doing or you will not be able to keep the high internal drive up for many years that produces sterling results.
After a few years, these decisions will be much clearer to you and you achieve them after hours while you are earning. Heck companies may even help you pay for them if you are perceived as the real deal. There are very few mistakes out there, simply turns in the road for those who can read the future signs today.
I learned to trade in the evenings and on the weekends after my job was done. Don't forget money isn't everything. You need to at least like what you do.
Good luck and I would love to be where you are today.
Best answer.
Quote from TheGoonior:
If you can jump in to the workforce, I'd do it. I think an MBA looks better once you've got some experience under your belt. Then your resume looks more like "guy who has spent some time in the trenches and has some advanced learning" as opposed to "kid who has no clue about the real world and has only spent time in the classroom" Plus, it seems that your desired job is going to have lots of learning you can only get through OJT.
One other possible huge benefit is that many employers often subsidize or even fully fund continuing education for programs that apply to their duties.
The downside is that it is more difficult once you've entered the workforce and takes more effort on your part.
My $0.02.