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5 Once-prestigious jobs now on the B list

Villanova U

Villanova U

All VUSports.com Team
Sep 22, 2014
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48
(1) Lawyer (not enough jobs, huge debt)
(2) Professor (not enough jobs, current professorial jobs are not as cushy as they used to be due to budget cuts)
(3) Stock Broker (presumption is that you are an unethical liar, mostly done by computers now)
(4) Family doctor (huge debt required for entry, low pay due to insurance cuts)
(5) Travel Agent (people use the internet now)



http://www.marketwatch.com/story/5-once-prestigious-jobs-that-are-now-b-list-2015-01-13
 
Was Travel Agent ever a "prestigious" job? It always seemed like a housewife alternative to a real estate agent or Mary Kay rep.
 
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my country club used to be 100% jewish until about 10 years ago, 50% of the membership were Doctors , the other 50% lawyers. nothing worse than hearing a Dr complain he isnt making as much money. ok so you were making $500K per yr now youre making $400K. man that sucks.
 
The problem is that all of these jobs have been eclipsed monetarily by what bankers and finance people are making. You can make SO MUCH more money on Wall St that traditionally A list jobs like Lawyers and Doctors are now seen as second tier.

Sure, there are types of doctors that make bank. Lawyers, too, can do very well as partners in large firms, or as highly skilled trial attys doing plaintiffs work. But even then, you're talking about the highest earners making in the single digit millions of dollars a year, and that's if everything breaks right and you are at the pinnacle of your career.

There are finance people that make that kind of money in their early 30's. There's just no comparison.
 
Originally posted by novabball2:
my country club used to be 100% jewish until about 10 years ago,
Click to expand...
"Hey, Wang, don't tell them you're Jewish."

cs_099.jpg
 
As far as working as a securities (stock, bonds, etc) salesman or broker, I think some guys will stick around but if you are a young guy and you have people telling you this is where you should look for a job they are obviously clueless.

I did it for a little bit dealing with institutions, no wolf of wall street type stuff, and everything was going electronic. Buy-side clients don't need a sales person to rely on to get trades done anymore. Totally a dying business and with all the new technology coming out it isn't going to get better.

I think most guys who are fairly young, regardless of whether or not they are making money, should start thinking about a career change if they are currently in this business. This is very relevant to Villanova because of all the alumni who have taken these types of jobs. Hopefully now they are being pointed into other directions. Not saying don't go into finance, but definitely don't become a securities sales person.
 
Family docs don't make that much money and they have to now see twice the patients to make the same amount of money. They aren't pulling in 400K unless they own the practice and made some solid business deals. Factor in the education, time etc...not a great gig.
 
The lesson is own stuff, work for yourself or go rake some dough on Wall Street. The bottom might fall out but taxpayers will bail you out. Edit, private equity is better IMO than Wall street. Those dicks don't even pay their fare share.

This post was edited on 3/4 11:42 AM by adp98
 
Adp - was that last blurb a poor attempt to get me to engage? Even private equity comp is declining ...
Posted from Rivals Mobile
 
I have no idea what you're talking about. However, sounds like you guys need to hire even more lobbyists.
 
Aside from learning programming so that you can make apps to help teenagers send each other dick pics, what advice do you give a high school kid about what to major in? It seems like so many fields are in complete freefall, or are impossible to break into.
 
Business or Engineering. The specific major is less important, the basics of both fields will help your child learn to think in the real world.
 
accounting is always a safe bet and you are sure to land a job as an auditor. your child will die of boredom but will be able to get a job right out of college with a nice salary.
 
Originally posted by adp98:
The lesson is own stuff, work for yourself or go rake some dough on Wall Street. The bottom might fall out but taxpayers will bail you out. Edit, private equity is better IMO than Wall street. Those dicks don't even pay their fare share.

This post was edited on 3/4 11:42 AM by adp98
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What are you taking about? I pay so much into the system - I SHOULD be taxed at a far lesser rate than everyone else. People hate us because we make money!

-said every private equity guy I've ever met.
 
Originally posted by Villanova U:
Aside from learning programming so that you can make apps to help teenagers send each other dick pics, what advice do you give a high school kid about what to major in? It seems like so many fields are in complete freefall, or are impossible to break into.
Click to expand...
Agree with engineering. But also:

-Econometrics
-Actuarial science

i.e. The type of math and stats that normal people can't learn
 
Learn statistics and programming thoroughly. Then add specialized knowledge in a field of your choice.
Accounting is not a promising field. Anyone in Bangalore can add numbers based on a set of established rules.
Or follow your heart and work as a barista with your arts degree.
 
I'm learning to code ASAP. Saw the contract of some dweeb we just hired and he's making 150k to shoot nerf guns around all day. Plus, the product he makes will generate next to 0 revenue. But at least he's getting paid.
 
Sales in finance is consolidating, but it's a long way from being obsolete. I use my coverage for tons of stuff. Well worth the value, if only for access to research and economists. Execution can be done a variety of ways that may or not be value add depending on product.
Posted from Rivals Mobile
 
I agree that "Stock Broker" is a dying job. Anyone or any computer can provide you with a tailored investment strategy.

But if someone here is still working with a "Stock Broker" they probably deserve whatever comes their way. There are so many nuances to investing now that you can't trust a stock jockey anymore. The tax code, Obamacare, interest rates, public debt - all things that need to be taken into consideration. Stock brokers don't offer any advice on those things.
 
Originally posted by NickleDimer:
Learn statistics and programming thoroughly. Then add specialized knowledge in a field of your choice.
Accounting is not a promising field. Anyone in Bangalore can add numbers based on a set of established rules.
Or follow your heart and work as a barista with your arts degree.
Click to expand...
Is ND opinion on accounting true here? Doesn't the accounting degree also confer enough understanding of how a business is supposed to operate to confer some additional mileage? Most of the people I know who went the accounting route are doing very well, one extremely well (basically retired at 50 and doesn't need to worry about $$ at all). I'm not saying I disagree with ND, just interested in whether anyone thinks he's right here. Need to steer the offspring correctly.
 
I don't think stock broker is really what most Nova people in finance get into. Most go into an ops role from what I remember.
Posted from Rivals Mobile
 
Is it just me, or does 4.6 need to tighten up its game on the whole 'inserting pics into threads' dept?

Seems that most fall flat these days
Posted from Rivals Mobile
 
I'm sorry that I'm such a disappointment to you. Do you know what an "ops role" is?
 
Originally posted by Villanova U:
I'm sorry that I'm such a disappointment to you. Do you know what an "ops role" is?
Click to expand...
yes. i feel like that's not an obscure job function. at all
 
Originally posted by LGBlue:
Is ND opinion on accounting true here? Doesn't the accounting degree also confer enough understanding of how a business is supposed to operate to confer some additional mileage? Most of the people I know who went the accounting route are doing very well, one extremely well (basically retired at 50 and doesn't need to worry about $$ at all). I'm not saying I disagree with ND, just interested in whether anyone thinks he's right here. Need to steer the offspring correctly.
Click to expand...
Fair point. Some accountants just know the numbers. Some leverage that to actually get to know the business, too. I guess every profession has it' subgroup of "ditchdiggers".
 
Even with those examples, I still have no idea what you guys are talking about. I guess it's a finance thing. Isn't "back office" just a code word for "HR women with short hair?"

Back on topic, I think shooting to work in government in some role is a good way to push kids. Not just teachers, cops, and firefighters. There are a million different jobs in state, local, and the federal government. You're never going to get rich, but it's steady pay and good benefits, and it's pretty much impossible to get fired. At least in this country, not many people grow up dreaming about being a low level government agency drone, but considering how shitty and unpredictable it is to work in every other industry, government work sounds pretty good.
 
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