Comments on: $200,000 To Attend Nine Meetings http://www.johnchow.com/200000-to-attend-nine-meetings/ The Miscellaneous Ramblings of a Dot Com Mogul Sun, 12 Oct 2008 23:10:30 +0000 http://wordpress.org/?v=2.6.2 By: Rich http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-7760 Rich Fri, 17 Nov 2006 10:33:34 +0000 http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-7760 slasher is so on the money with the Wall Street jobs. Been there, done that for a year as M&A analyst and it was enough for me... But then I could travel for more than two years with all the money left untouched from my bonus;) slasher is so on the money with the Wall Street jobs. Been there, done that for a year as M&A analyst and it was enough for me… But then I could travel for more than two years with all the money left untouched from my bonus;)

]]> By: slasher http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5591 slasher Sun, 29 Oct 2006 05:44:53 +0000 http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5591 Harry: Thanks for the compliments. I agree with your MSFT stock price assessment, though it has gone up about 22 percent from its 52-week low in the last few months, plus like a lot of employees and executives, I'm sure they get discounts on the stock price. :) Harry:

Thanks for the compliments. I agree with your MSFT stock price assessment, though it has gone up about 22 percent from its 52-week low in the last few months, plus like a lot of employees and executives, I’m sure they get discounts on the stock price. :)

]]> By: Harry http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5584 Harry Sun, 29 Oct 2006 02:30:01 +0000 http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5584 Slasher said it all, except that 120k in stale Mr Softy stock ain't no prize. Slasher said it all, except that 120k in stale Mr Softy stock ain’t no prize.

]]> By: Dude http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5572 Dude Sat, 28 Oct 2006 20:01:30 +0000 http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5572 Right, thanks for the clarification. Yeah, 200k does seem like a lot for a board member; probably most smaller companies are in the range you mention. But it's actually comparable to non-management director comp at other really large companies -- think Walmart, Cisco, Ford, GM, etc. Directors at those companies are in the $150k-$250k range. Right, thanks for the clarification. Yeah, 200k does seem like a lot for a board member; probably most smaller companies are in the range you mention. But it’s actually comparable to non-management director comp at other really large companies — think Walmart, Cisco, Ford, GM, etc. Directors at those companies are in the $150k-$250k range.

]]> By: slasher http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5570 slasher Sat, 28 Oct 2006 18:21:50 +0000 http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5570 Nomar: No, you wouldn't. And if you retired after making all this money to live on some island, I'm afraid you will never be financially successful. These executives and a lot of really successful people aren't doing their jobs for the money anymore. It's like the saying goes: "After you make the first million, money doesn't mean a whole lot anymore." Considering there are only 990K millionaires in the US, I would say the saying is pretty true. So what do you plan to do after buying the island? If you are Bill Gates, you can buy a few islands, a new Ferrari everyday for the rest of your life, a few mansions and then what? Sip drinks and relax on the beach. You are willing to sit on the beach and sip drinks for the rest of your life. Wow, talk about leading a boring life. Ever heard of life/work balance? If you continue to work without ever taking a vacation, you will burn out regardless of how much you enjoy your work. Similarly, if you are on vacation for years on end, you will get tired of it as well. I'm sorry to say this, but your dreams are messed up. Those of you who dream making $200K by being on the Board of Directors on a company like MSFT, keep dreaming. I hope you realize the pressure it takes to be on a BoD of a multi-billion dollar company. I love it how people jump on news stories (like the Reuters story above) where it talks about making millions per year, but you don't realize the pressure and responsibility for that job. Get this: an average 24-year old analyst on Wall Street makes easy 6-figures per year + bonus if he is qualified, but these guys work 14-18 hours a day under hardcore pressure that av average person can't handle. Not to mention, analysts have to be on call 24/7, so some days you are back to work fully dressed ready to discuss things after getting 3 hours of sleep. Yea, making 6-figures is great right out of college and you get to network with a lot of influential people that can further boost your career when you retire from Wall Street, but again, the margin of error on Wall Street is right next to zero. If you think these analysts get to enjoy spending money, you are sorely mistaken. A lot of rich and successful people have gotten to where they are because they have put a lot of hard work and dealt with a lot of highly stressful situations. There's a reson why an average analyst only lasts three-four years on the Street. I love to hear morons cry who work at Wal-Mart about how crazy their last week was and their dreams of working as a CEO, making enough money and retiring early to enjoy life. Yeah, sure ... keep dreaming. I only wish people would post more insightful comments to inspirational blog posts such as this one. Nomar: No, you wouldn’t. And if you retired after making all this money to live on some island, I’m afraid you will never be financially successful. These executives and a lot of really successful people aren’t doing their jobs for the money anymore. It’s like the saying goes: “After you make the first million, money doesn’t mean a whole lot anymore.” Considering there are only 990K millionaires in the US, I would say the saying is pretty true.

So what do you plan to do after buying the island? If you are Bill Gates, you can buy a few islands, a new Ferrari everyday for the rest of your life, a few mansions and then what? Sip drinks and relax on the beach. You are willing to sit on the beach and sip drinks for the rest of your life. Wow, talk about leading a boring life. Ever heard of life/work balance? If you continue to work without ever taking a vacation, you will burn out regardless of how much you enjoy your work. Similarly, if you are on vacation for years on end, you will get tired of it as well. I’m sorry to say this, but your dreams are messed up.

Those of you who dream making $200K by being on the Board of Directors on a company like MSFT, keep dreaming. I hope you realize the pressure it takes to be on a BoD of a multi-billion dollar company.

I love it how people jump on news stories (like the Reuters story above) where it talks about making millions per year, but you don’t realize the pressure and responsibility for that job.

Get this: an average 24-year old analyst on Wall Street makes easy 6-figures per year + bonus if he is qualified, but these guys work 14-18 hours a day under hardcore pressure that av average person can’t handle. Not to mention, analysts have to be on call 24/7, so some days you are back to work fully dressed ready to discuss things after getting 3 hours of sleep. Yea, making 6-figures is great right out of college and you get to network with a lot of influential people that can further boost your career when you retire from Wall Street, but again, the margin of error on Wall Street is right next to zero. If you think these analysts get to enjoy spending money, you are sorely mistaken.

A lot of rich and successful people have gotten to where they are because they have put a lot of hard work and dealt with a lot of highly stressful situations. There’s a reson why an average analyst only lasts three-four years on the Street.

I love to hear morons cry who work at Wal-Mart about how crazy their last week was and their dreams of working as a CEO, making enough money and retiring early to enjoy life. Yeah, sure … keep dreaming. I only wish people would post more insightful comments to inspirational blog posts such as this one.

]]> By: John Chow http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5569 John Chow Sat, 28 Oct 2006 18:20:06 +0000 http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5569 I understand they must do a lot of work to prepare for a meeting. I'm just saying $200K to be a director of a company is very high compared to some of the other companies that I had held stocks in. Most of them pay $10,000 to $50,000 a year. I understand they must do a lot of work to prepare for a meeting. I’m just saying $200K to be a director of a company is very high compared to some of the other companies that I had held stocks in. Most of them pay $10,000 to $50,000 a year.

]]> By: Dude http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5566 Dude Sat, 28 Oct 2006 16:37:02 +0000 http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5566 Do you do all of your work in meetings? Every single working person I know-- including me-- does an insane amount of work to PREPARE for meetings. Board members certainly don't do all their work at their meetings. I can't say whether the work that the MS directors do is worth $200k, but it's misleading to say that they are paid it to attend nine meetings. Particularly the audit committee directors, those guys actually do a lot of work, since nowadays their asses can be on the line for accounting controls/financial-related matters. Do you do all of your work in meetings? Every single working person I know– including me– does an insane amount of work to PREPARE for meetings. Board members certainly don’t do all their work at their meetings. I can’t say whether the work that the MS directors do is worth $200k, but it’s misleading to say that they are paid it to attend nine meetings. Particularly the audit committee directors, those guys actually do a lot of work, since nowadays their asses can be on the line for accounting controls/financial-related matters.

]]> By: Nomar http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5565 Nomar Sat, 28 Oct 2006 16:25:22 +0000 http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5565 Damn, what is Bill Gates still doing there, if I was him i would buy me a island at Dubai and relax for the rest of my life !!! what a dream Damn, what is Bill Gates still doing there, if I was him i would buy me a island at Dubai and relax for the rest of my life !!! what a dream

]]> By: Bryce http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5546 Bryce Sat, 28 Oct 2006 08:16:15 +0000 http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5546 I want to be on the Board of Directors. Gotta beat the $7.10/hr at Maccas :D I want to be on the Board of Directors. Gotta beat the $7.10/hr at Maccas :D

]]> By: John Chow http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5544 John Chow Sat, 28 Oct 2006 07:54:05 +0000 http://www.johnchow.com/200000-to-attend-nine-meetings/#comment-5544 Ya, that story about Goldman is just insane! Ya, that story about Goldman is just insane!

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