gohornedfrogs
Tier 1
Yeah, he buried the lede there.
2024 edition of Best Colleges is National Universities
- Thread starter Sweat Equity
- Start date
She's back in the US at the moment; she was in Maine when Lee hit. She thought it would be a "good idea" to climb Champlain Mountain in Acadia N.P. via the Precipice trail (a via ferrate route) as the hurricane was rolling in; she texted steel from halfway up the 1000' route "It's getting really windy" -- yeah, no S -- there's a gd hurricane coming! Ha ha
She was living north of Acadia and apparently the power grid went down there so she moved to Hyde Park, VT.
AT least one of you morons on here knows how to spell "lede"...
James Penny
Active Member
$1.2 to $1.6 million per year. No wonder you are OK with TCUs high cost. Lol.
Sweat Equity
Tier 1
I do not mean to get off track (well, screw with that, that is the point of this forum) but what industry ("tech" is broad)? (You might have already elaborated in other threads, if so, apologies.)
I believe you are referring to carried interest, not "shares" and that is the larger point, which would then make sense, though I reserve the right to be wrong, given I do not know the industry. (Unless you are at a VC shop, which I would place a bet that I am close on that one.) If you are at a New York P/E firm, you could be pulling in ~800$ - ~1$mm at 35-39 y/o to which the CE, if you get it, starts to vest (perhaps another 50% - 150%), so I can see the 20 yr mark you put on it but just bc of the industry I am familiar with (which could be entirely unrelated to what you do).
You nailed the risk associated with K-1 income (which, again, leads me to believe you are referring to carried interest and not "shares") but you also must realize you (and those around you) are outliers.
It is incredibly difficult to find such opportunities and I attest that even the trillion-dollar-asset-managers are not handing out their beloved carried interest (or "shares") to those who have been arnd even for two decades. (Larry Fink keeping those dimes in his coffer.) If I am correct in some or all of the abv, and you are at a VC firm (which would make sense given the comp.), and if you found such a position and are able to hire within, good on you, and count the blessings because that is ... rare.
FrogBall09
Active Member
It’s actually partnership units but most people don’t get that concept
And we have 175k employees and there are over 2 million people employed in our direct competitors - it’s not that much of an outlier
And again back to the point - look at what you want in a career and understand where people go to school to achieve it
I would be that 90% of our employees in the US went to 1 of about 75 schools. Jack Welch recruited exec program participants from 25 schools. The PE firms you talked about focus on a pool of less than 50. Top engineering firms go to the top 30-50 programs only.
The SpaceX example is bs publicity- they have a total of two engineers that don’t have advanced degrees and one of those is the guy that was the head mechanic for several professional race teams- so I guess if you don’t mind waiting 30 yrs for the job…
Sometimes you have to play for the long game even if it hurts upfront
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Sweat Equity
Tier 1
I feared you would mention LPUs. Those are dumb as ...
Man, I like you as a poster, but you are off here. You still did not answer the question (again, as someone who appreciates the content you bring). You do not have 175k employees (you would be approaching Google, for example, and let us just say, for example, if only 10%, at yr20, earn the freight you suggested earlier, that equates to 25$B+ in comp. on that tier alone puts you abv all asset managers) nor do you have 2mm employed directly or indirectly. (Unless, of course, you mislead in previous posts.)
SpaceX and "two engineers." Come'on man ... me, having invested nearly $2B+ in aerospace, that is the most ridiculous thing I ever heard Re: SpaceX (and, admittedly, SpaceX does deserve some criticism). We just landed one of our first stage 17 (SEVENTEEN) times. That is bc of "bs publicity?" We must be "lucky" for 200+ STRAIGHT successful missions, a factor abv even Bo/LM/ULA. However, feel free to attack the "two engineers." We have brought more to orbit in the past 12mths than the rest of time, combined.
Seriously, are you or are you not at a VC shop? I will respond in kind, I run a PE shop. (With a VC arm.) We are one of the larger SpaceX shareholders, now that you brought it up.
Let us go back to the employees making these ridiculous comp. you have not addressed. Where? Certainly not at my firm (which is nothing special when compared to Larry's).
All this is in good argument, and not in a combative nature. (Also: We are hiring! Hugs and kisses.)
Showtime Joe 2.0
Active Member
I had no idea that there was so much money involving the Viet Cong (VC) and Physical Education (PE) these days. Or maybe I'm just an old fart who doesn't keep up with the latest and greatest acronyms.
Not to mention, the high likelihood of finding a potential future spouse who is financially set for life already!
FrogBall09
Active Member
we are over a $30 billion company - and not a PE or a VC - Tech sector software and consulting and we actually have over 175k employees globally. And we are not the largest player in our space by any means and a few of those companies are public but several others are privately held. Not sure why you think partnership units are dumb - how else exactly would you expect to divide ownership in a non-publicly traded organization when a defined group of people actually do "own" it, not just invest.
And Google is terrible benchmark for employee size in a service company - they are a tech platform org that contracts 70% of their development to partners - so they are actually 3x the size of their FTE level it is just in the "contractor expense" line item on their income statement. X (formerly Twitter) is even worse especially after their exodus.
And again - how many non-degreed Engineers does SpaceX have? since we just completed their tech and engineering organizational transformation project - I feel pretty confident I actually know the answer.
And if you work for a PE - then I am not surprised that no one but the Partners make real money - PE's are notoriously bad about actually paying junior people and always holding out the carrot of "one day you will make Partner" - we don't do that. We have several defined career paths for technical and non-tech resources so they don't hit the common developer ceiling where being good at tech but bad with people stops your ability to move up.
As for how people in orgs like ours earn higher salaries across your career - my career suggestion to most people is don't go to work for a company that your boss has to be promoted or leave before you can get promoted. Better performing and higher paying orgs have a promotion process that focuses on the individuals performance - not on if their "manager" moved on. That one idea along with the concept I stated before of being on the sales/profit side of the business combined are the different between making $300k before 30 or hoping to make it by the time your retire.
But back to the original point - I bet your PE firms isn't spending a lot of time at SHSU, Tx State, University of North Texas, etc looking for your next campus hires - most of the PE firms we work with have a defined set of campuses they invest in year after year - and it is not hard to find out what companies recruit at a school - you just have to ask.
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Sweat Equity
Tier 1
I, again, did not intend to come across combative but rather curious and, as I said, acknowledge and tip the hat to you having clearly found a niche.
hometown frog
Active Member
Looking at these two guys tossing out 6 and 7 figure comp numbers as normal shows me I picked the wrong industry (or wrong side of the aerospace industry) when I graduated w my electrical engineering degree 20+ years ago.
hook a Frog up y’all!!!
hook a Frog up y’all!!!
Dogfrog
Active Member
Good for you marrying a lady with six kids.
FrogBall09
Active Member
no - you picked a great degree! that is what I have.
Biggest dynamic change for me was when I got moved to the revenue generating side of the world and got out of working for orgs that charged by the hour - your income level will always be limited if you are viewed as part of the cost structure not revenue generating and there are only so many hours in a day/year - so get paid on the value you bring in total, not how long it took you to deliver it.
Its why commercial contractors are so successful...
FrogBall09
Active Member
so your 5 college grads got into the 2 of the 3 hardest schools in the state to be accepted AND were accepted into the most competitive programs in those schools - but you don't think they would have qualified for the larger academic scholarship levels at TCU if they had applied.....
I would go to A&M for STEM over TCU also - so not saying it was a bad decision - just saying I think you logic is pretty faulty....
And also ignores that less than 5% of students are getting into UT or Aggy...so I guess the rest of kids are just screwed..
That is a bit of a facile argument without more.
First of all, A&M is NOT highly competitive on admission, even to engineering. It does flunk out a good portion in the first year.
The kid who went to UTerus strategically applied to the School of Fine Arts for a studio art degree, and then a year in, applied to the CS program which is in the College of Natural Sciences, believe it or not. She didn't get in on the first application; had to do it obliquely.
And yes, TCU doesn't begin to compete with either of those schools academically, especially STEM.
Tuition at TCU is listed on the TCU website as being $57k; the chancellor scholarship (100% tuition paid) requires 4.0 unweighted GPA (i.e., straight A's entire HS career) and a 1500 SAT, and still, "...meeting minimum GPA and test scores does not guarantee scholarship eligibility." The next scholarship below that is Dean's Scholarship (3.97 and 1500 SAT) which is $25k. That "larger" scholarship would leave $32k/year to pay in tuition alone, nearly three times the tuition at UTerus or A&M. Steel's third kid had a 1510 and was a national merit scholar and went to A&M for free -- many schools have full tuition programs for national merit scholars, but not TCU.
I read that as code for DEI
Virginia Frog
Active Member
This is exactly what my daddy said to me upon matriculation to TCU in 1976.
I failed in the female department and had to work my whole life for my money!
