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Which College Majors Will Make You A 1%'er: The Answer May Surprise

Tyler Durden's picture





 

By now we know that at least according to conventional wisdom says one has to be a banker, lawyer, or hedge fund manager to be guaranteed a spot in the fabled "1%". But a still outstanding question is what college-level studies do future 1%'ers take to end up in the top of the social pyramid? As the NYT shows, the result is quite surprising. As it turns out, "the majors that give you the best chance of reaching the 1 percent are pre-med, economics, biochemistry, zoology and, yes, biology, in that order." Just as curious, in terms of actual proportional representation, coming in at 1.9 million, the second most represented major within the 1% is... English and English Language. Bottom line - good news for Liberal Arts majors: all you have to do to get that PM job in Greenwich is to convince the boss that extensive knowledge of Shakespeare's sonnets is conducive to procuring some quality "information arbitrage" (on an untapped phone line of course). Alas, bad news for sociology and geology majors - these two are nowhere to be found, dooming the Rocks for Jocks crowd to a life of "99%"ism.

From the NYT:

Below is a chart showing the majors most likely to get into the 1 percent (excluding majors held by fewer than 50,000 people in 2010 census data). The third column shows the percentage of degree holders with that major who make it into the 1 percent. The fourth column shows the percent of the 1 percent (among college grads) that hold that major. In other words, more than one in 10 people with a pre-med degree make it into the 1 percent, and about 1 in 100 of the 1 percenters with degrees majored in pre-med.

 

Of course, choice of major is not the only way to increase your chances of reaching the 1 percent, if that is your goal. There is also the sector you choose.

 

A separate analysis of census data on occupations showed that one in eight lawyers, for example, are in the 1 percent — unless they work for a Wall Street firm, when their chances increase to one in three. Among chief executives, fewer than one in five rank among the 1 percent, but their chances increase if the company produces medical supplies (one in four) or drugs (two in five). Hollywood writers? One in nine are 1 percenters. Television or radio writers? One in 14. Newspaper writers and editors? One in 62.

 


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Wed, 01/18/2012 - 11:53 | Link to Comment Tortfeasor
Tortfeasor's picture

I'd like a comparison between - % of the 1% who have bachelors v. % who have masters v. % who have doctorates.

Wed, 01/18/2012 - 11:55 | Link to Comment Clueless Economist
Clueless Economist's picture

Will my degree in African American Lesbian Studies do me well?

Wed, 01/18/2012 - 12:03 | Link to Comment SHEEPFUKKER
SHEEPFUKKER's picture

Yes, look at Condi Rice. 

Wed, 01/18/2012 - 12:09 | Link to Comment MillionDollarBonus_
MillionDollarBonus_'s picture

 

Top tier investment banks, elite hedge funds and select prop firms are more concerned about the calibre of the candidate than the specific area of education. The educational institution is of particular importance - graduates of colleges such as Harvard, MIT, Carnegie Mellon and Princeton will have a significant advantage over candidates from mediocre colleges. These institutions like to hire natural leaders who have demonstrated exceptional initiative both in the classroom and in their personal lives. Successful candidates tend to be top of their class, head of the investment club, national chess champions or Olympic athletes. These institutions are serious about hiring and developing future talent, and they want the best of the best only,

Wed, 01/18/2012 - 12:20 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

It has indeed been my experience that 10% of the people make 90% of the money in any industry.

Viva the 2% to 10%!

Wed, 01/18/2012 - 12:31 | Link to Comment iDealMeat
iDealMeat's picture

If you're envious of 1% and make it your goal to become one. You will lie, cheat, copy, and steal in your [insert profession] to get there.

If your desire is just to be a FIAT 1%er you are a failure.

 

Wed, 01/18/2012 - 13:00 | Link to Comment trav7777
trav7777's picture

economics?  I guess a lot of them become lawyers or are just already the children of 1%ers.

Economics is a shit degree that is commonly studied by legacies, as are a lot of the others on that list.

The "real majors" are down at the bottom...chem eng?  Lol.  Produce something?  Actually create something?  Fuck you...get down below those confettiers.

Wed, 01/18/2012 - 13:16 | Link to Comment francis_sawyer
francis_sawyer's picture

becoming a 1% er...

Hmmm... I didn't know that "being born a Rothschild" was offered as a college university course...

Wed, 01/18/2012 - 14:44 | Link to Comment GiantVampireSqu...
GiantVampireSquid vs OWS UFC 2012's picture

(excluding majors held by fewer than 50,000 people in 2010 census data)

Wed, 01/18/2012 - 17:03 | Link to Comment Ahmeexnal
Ahmeexnal's picture

"Community Organizer" is not on the list? HHHMMMMMMMMMMM

Wed, 01/18/2012 - 14:28 | Link to Comment economics1996
economics1996's picture

You fail to understand why so many economists are 1%ers.  Economists are the propagandist of the university.  All students have to take a course in economics and this is where the Keynesian bull shit is spread far and wide.  University professors make good money and with some outside work can easily reach the top 1%. 

Economists are also the way politicians justify ripping you off.  Do you understand their role better?  Economists baffle the peasants with bull shit and provide the smoke screen politicians and the Federal Reserve need to plunder and pillage million and billions of people all over the world.

Is that clear?

Wed, 01/18/2012 - 15:17 | Link to Comment Taint Boil
Taint Boil's picture

 

 

 

I work in the industrial automation field. I spend half of my time on Zero Hedge and surfing the internet BUT …. When there is work to be done you are on the floor working your ass off and getting dirty. It is challenging work and the money is good (top 5% easy last year), this year much less. Google Peter Principle and / or the Dilbert Principle (Oh wait Wiki is down today! LOL) and I can tell you that these are both very, very true – well at least in the automation field.

Bonus video: Taint Boil himself can be seen wandering about ha ha. No hints as to which person it is.

 

 

Wed, 01/18/2012 - 12:15 | Link to Comment BobPaulson
BobPaulson's picture

They also like to hire rich people who have connections, especially their children, neices and nephews, grandchildren, etc, not to mention people who went to the university they attended and have the same colour skin and don't have black hair.

Wed, 01/18/2012 - 12:17 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Not for yard work they don't.

Wed, 01/18/2012 - 12:29 | Link to Comment economics1996
economics1996's picture

You must be referring to affirmative action Herman Cain.  

Wed, 01/18/2012 - 12:30 | Link to Comment economics1996
economics1996's picture

Or Obama?

Wed, 01/18/2012 - 12:34 | Link to Comment economics1996
economics1996's picture

 

I mean if I get one more of these poor negro post I will pull my hair out.  All we have been doing for the last fucking 50 years is promoting black haired idiots over smarter blonde haired people.  Will these mother fuckers ever shut the fuck up.

 

Wed, 01/18/2012 - 13:32 | Link to Comment MrTown3
MrTown3's picture

No one cries about more bullshit on this planet than white men. BAR NONE. White bitches man up before you guys do. Funny things you guys cry when people call out facts...instead of the bullshit you promote that only you believe and get upset when no believes it. Shit you're crying now.

Wed, 01/18/2012 - 13:39 | Link to Comment trav7777
trav7777's picture

True.  White people are complete bitches.  They let a bunch of desert nomad war tribers convince them that THEY INDIVIDUALLY are responsible for shit that other people did and bear some guilt for being part of a group that has invented nearly literally EVERYTHING useful in the entirety of history.

They let a group of cousins become oligarch parasites and subvert their entire moral ethos, work ethic, sense of community, everything.  People shake the hands of savages that murder their daughters, and don't feel "whole" until their daughters' wombs are used for propagating colored bastards.  And even then, they are STILL guilty, just for EXISTING.

The control structure of parasitism is inherently antagonistic to COMPETITION.  There is plenty of money to be made on things like vice trades and slavery, even in a world absent anglosaxon innovation.

Wed, 01/18/2012 - 14:02 | Link to Comment MrTown3
MrTown3's picture

I know this is as cathartic as it gets for you so have at it. That is unless you're around a group of friends or family. People like yourself should be grateful that you have a few psychopaths at the "top" that allow certain benefits to extend to you. You're not superior...you're a fucking benefactor that better pay his taxes or else.

Wed, 01/18/2012 - 14:37 | Link to Comment economics1996
economics1996's picture

STFU.  Unles you have trigger time you didn't do shit.

Wed, 01/18/2012 - 14:49 | Link to Comment MrTown3
MrTown3's picture

Unless I was taken advantage of? LOL....ask Henry Kissenger what you low asvab punk motherfuckers are good for...

Wed, 01/18/2012 - 15:03 | Link to Comment Incubus
Incubus's picture

I think those two think this is stormfront, or something. 

 

Your "disadvantaged & disgruntled" white guy forum is that way.

These fucking idiots love to fall back on race because it's a convenient excuse for them.  It allows them to 'act' superior without any effort. 

 

For the record, you "angry white guys": it's nurture, not nature.  And every time "race" is brought up, you'll always see the same idiots hanging around.  Do they get off on this shit?  I bet they do.  Fucking conditioned little monkeys.  I'm getting sick of this dumbass economics guy spamming up every thread, too.

 

Dear "Economics,"

I've read in your past comments that you're a teacher.   How about you try to teach people instead accepting yourself as a fucking failure of an instructor and soaking up your institution's funds. You're doing a wonderful job of dumbing down the Zero Hedge population, though.

 

Thanks and GTFO,

Incubus

Wed, 01/18/2012 - 15:18 | Link to Comment MrTown3
MrTown3's picture

Agree wholeheartedly.

Wed, 01/18/2012 - 18:59 | Link to Comment Incubus
Incubus's picture

They (disgruntled white guys) like the "race" crutch as a basis for supposed "superiority" just as much as black people love using it as an excuse for their inequity.

They're a bunch of balding or middle aged losers who need an excuse as to why their lives amount to massive amount of failure--and what better way to do that than to blame everyone and everything but themselves?

 

"Race" is a nice way to socialize the achievements of a few individuals and pin it on to yourself, like the fuck you did anything that any of those individuals did.  God, I fucking hate people, let me tell you. 

 

I'm a misanthrope for a reason: people come in too many flavors of stupid.  None of these zero hedge wannabe badass "racists" will tell me anything differently other than excuse upon excuse as to why they're supposedly better because they're trying to claim accomplishments that they themselves had nothing to do with. 

And I bet a lot of them love that nasty bitch, Ayn Rand, too.  Bunch of fucking hypocrites.  They love to talk tough, but they're just a bunch of blubbering pusses.

 

And what the fuck are they gonna do?  Downrate me?  I'm so fucking hurt, you bunch of worthless fucking failures.  Why don't you losers go kill yourselves. And I mean it, too.  You're (ZH racist crew) all a bunch of ugly trash that hate the world because you can't do anything with your lives. (and I mean that, also.  I look better than you ugly disgruntled fucks.  Seriously, I have better looks than most people...and I bet you hate me because I was "genetically lucky," huh?)

Back to that cretinous economist1996:  if he was serious about being a teacher, it's no wonder America is going down the drain:  when you have extra chromosomal trash like him teaching the future of America, what do you expect to happen?  This is a lesson in why America fails, people.  After reading his comments here on Zero Hedge, lord help anyone in his class that doesn't fall into his preferred demographic;  there's hardly anything objective about his perspective.  If he's man enough, he'd state what school he teaches at, so he can be reported and reviewed--if he's so confident in his instructional abilities and capability of remaining objective. But no, he's too comfortable collecting his welfare sum from a college while sabotaging people he doesn't like, based on genetic preferences.

 Come on, you bitch: state your name and where you teach.  Let's see how far removed Zero Hedge is from your parasitic social existence. 

 

You see, though, people?  This is another example of why western civilization can't cut it:  too many pussies who are more interested in safeguarding what they've been handed in life than to work for anything greater than themselves.  I hope all of these people like "economics1996" suffer greatly.  When TSHTF, he doesn't deserve a quick death for what he's done in life.

Thu, 01/19/2012 - 00:33 | Link to Comment StychoKiller
StychoKiller's picture

Then prove yer moral superiority, alleviate some suffering:  http://www.worldvision.org

Wed, 01/18/2012 - 20:03 | Link to Comment kekekekekekeke
kekekekekekeke's picture

so fucking relieved to finally see this called out on zerohedge, keep at it.

Wed, 01/18/2012 - 20:02 | Link to Comment kekekekekekeke
kekekekekekeke's picture

SERIOUSLY

 

If you are a white dude and you still can't make it in life?  You are a failure at life.

Wed, 01/18/2012 - 12:16 | Link to Comment Caggge
Caggge's picture

It all makes sense to me now. You would have to have a liberal arts degree to construct a financial system such as we have. I am not surprised it isn't required to have a degree in Art appreciation to dream up this masterpiece.

Wed, 01/18/2012 - 12:18 | Link to Comment Hober Mallow
Hober Mallow's picture

The amount of people studying accounting (big regulations) and political science (big government) vs health (which everyone really needs) just shows how fucked up everything is.

I'm curious to see how many are studying law.

What the fuck are 147k people doing studying international relations?

Those guys should be building more aircraft carriers! the best international relation there is.

Wed, 01/18/2012 - 12:26 | Link to Comment clymer
clymer's picture

mdb, you ..complete me.

 

(I realize now exactly why I should be rightfully ashamed of my low-brow, public-school, albeit paid-for u-mass degree)

Wed, 01/18/2012 - 12:38 | Link to Comment MillionDollarBonus_
MillionDollarBonus_'s picture

There's no need to be ashamed. These elite institutions offer highly desirable compensation packages, with benefits far exceeding those of the average employee. Places are limited and compeition is fierce, so not everybody can be guarenteed a place.

Wed, 01/18/2012 - 14:39 | Link to Comment economics1996
economics1996's picture

I can see why you are so popular.  Thank you for the infomercial. 

Wed, 01/18/2012 - 12:29 | Link to Comment SheepleLOVEched...
SheepleLOVEcheddarbaybiscuits's picture

These institutions are serious about hiring and developing future talent, and they want the best of the best only,

 

then why does the industry need countless taxpayer bailouts?  You go to those schools for one reason: to learn how to steal on a massive scale

Wed, 01/18/2012 - 12:47 | Link to Comment LaLiLuLeLo
LaLiLuLeLo's picture

An undergraduate degree is simply conditioning you to turn in your work on time.

Wed, 01/18/2012 - 12:46 | Link to Comment homersimpson
homersimpson's picture

Blah blah blah. I can sum up your paragraph in one sentence: Who ever can frontrun the fastest or figure out a way to get more Fed money gets picked.

Best my ass. More like greediest.

Wed, 01/18/2012 - 16:50 | Link to Comment rbjmartin
rbjmartin's picture

I think I just gave myself a hernia, I laughed so hard.

Wed, 01/18/2012 - 17:13 | Link to Comment Iwanttoknow
Iwanttoknow's picture

SF,She was taught by no other than madeline albright's Dad.

Wed, 01/18/2012 - 12:04 | Link to Comment JFK.4PREZ
JFK.4PREZ's picture

only if it came from Princeton 

Wed, 01/18/2012 - 12:10 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

 

 

There ought to be a degree in jacking-off.    Most college graduates today would voluntarily take 15 years to get their Bachelor of Arts.

Wed, 01/18/2012 - 13:19 | Link to Comment francis_sawyer
francis_sawyer's picture

That's not a degree study program... It's simply a proficiency exam for getting an SEC license...

Two different things...

Wed, 01/18/2012 - 14:31 | Link to Comment Kobe Beef
Kobe Beef's picture

So if I demonstrate "porn proficiency", I can get a job at the SEC? Parasite sector pays twice as much as the Productive sector, along with all kinds of unearned bennies too. Hope! Change! America-- Fuck Yeah!

 

Wed, 01/18/2012 - 12:14 | Link to Comment VanillAnalyst
VanillAnalyst's picture

Ya know it just might.

There's an argument to be made that the reason you see a higher % of pre med majors becoming "1%ers," than finance majors, is because its a less competitive sector. Surely the brilliant statisticians at the NYT grasp that if 100,000 more people decide to be doctors this year than last, you won't see 10,000 more doctors who are "1%ers." Why bother with facts when you have a good narrative though? (self criticism intended)

Wed, 01/18/2012 - 14:41 | Link to Comment mccoyspace
mccoyspace's picture

according to the chart, that is one step higher than a finance major.

Wed, 01/18/2012 - 12:05 | Link to Comment jekyll island
jekyll island's picture

I agree, biology, zoology and biochem all funnel into Pre-Med, so study may not be sufficiently designed to provide accurate, useful information.  On a side note, I just returned from Ghana and learned that the pay ratio for a physician vs. educated worker (college degree) was about 6-7x higher, and over 10x higher than unskilled laborer, which is similar to ratio that exists in US.  

Wed, 01/18/2012 - 15:20 | Link to Comment Sizzurp
Sizzurp's picture

This material looks dated to me.  It's not what has happened already, it's where we are going that counts.  Pre-med? Not when they want to take healthcare from 15% of GDP to 10% and force docs to be employed by hsopitals.  That ship has sailed.

Wed, 01/18/2012 - 15:57 | Link to Comment EnglishMajor
EnglishMajor's picture

It would be more interesting to find out if the respondents' parents ranked in the 1%...especially the English majors.

Wed, 01/18/2012 - 12:04 | Link to Comment Mercury
Mercury's picture

Pre-Med.......not for long under Obamacare!

The bureaucrat will see you now....

Also, I'd like to see marriage-adjusted figures for Art History majors.

Wed, 01/18/2012 - 12:08 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

Indeed. Nothing has the potential to pay better than a strategically earned "MRS" degree!

Wed, 01/18/2012 - 12:45 | Link to Comment Captain Kink
Captain Kink's picture

Or "Ex-Mrs."   It's an executive program funded by New York State legislation...  You attend only briefly and walk away with huge income.

Wed, 01/18/2012 - 14:32 | Link to Comment Kobe Beef
Kobe Beef's picture

Thank you, feminism and no fault divorce.

Wed, 01/18/2012 - 12:50 | Link to Comment duo
duo's picture

Every nursing school undergrad I knew at Michigan in the early '80s married some med-school student and dropped out.  They were fun to date when freshmen or sophomores, but after that it was med students only.

Wed, 01/18/2012 - 12:23 | Link to Comment Silver Dreamer
Silver Dreamer's picture

Exactly.  I pity anyone that plans to use this data for the future.  Things are going to change drastically in the medical field.  Heck, a doctor lives across the street from me.  His wife has been forced to get a job because he cannot!  Apparently, the hospitals in our area are better off not hiring someone with his skills, and he's been replaced by 4-5 lower paid in training doctors instead.  The closest job offer he's had is Colorado, and he doesn't want to move.  He of course has over 100K in student loan debt as well.

Wed, 01/18/2012 - 13:23 | Link to Comment Raymond Reason
Raymond Reason's picture

Highly trained physicians and surgeons will always make bank.  In countries where they pay-rate of surgeons is less than taxi drivers, there is still extreme competition to become surgeons.  Because they will make most of their money outside the system, working privately, under the table. 

Wed, 01/18/2012 - 17:17 | Link to Comment Iwanttoknow
Iwanttoknow's picture

Unless as a physician,one serves the 1%,forget about becoming rich.Go for CEO of HMOs.

Wed, 01/18/2012 - 12:24 | Link to Comment NotApplicable
NotApplicable's picture

Better yet, inheritance-adjusted.

Not too many common people in those classes.

Time to cue Shatner.

http://www.youtube.com/watch?v=zc4Avp-6YBk

Wed, 01/18/2012 - 12:46 | Link to Comment Captain Kink
Captain Kink's picture

You rang?

Wed, 01/18/2012 - 11:56 | Link to Comment dracos_ghost
dracos_ghost's picture

Alas, poor Yorick, his funds were rehypothecated Horatio.

Wed, 01/18/2012 - 11:56 | Link to Comment lizzy36
lizzy36's picture

I think this is somewhat misrepresentative.Given that many of those undergrad degree's that are highly represented in the 1% usually have either an MBA, LLB or a masters degree to compliment their undergrad degree.

Btw, nothing says "trust fund chick" or "royal" like a degree in "art history"....just saying.

Wed, 01/18/2012 - 12:01 | Link to Comment s2man
s2man's picture

I was thinking of getting an MBA.  What does that take?  Like, a couple of weeks?

Wed, 01/18/2012 - 12:03 | Link to Comment aquagreen73s
aquagreen73s's picture

Mail order

Wed, 01/18/2012 - 12:07 | Link to Comment lizzy36
lizzy36's picture

Probably get a, buy one get one free on a mail order MBA + mail order bride. 

Couple weeks, sounds fair. 

Wed, 01/18/2012 - 12:15 | Link to Comment MachoMan
MachoMan's picture

~1 year/34 hours.  Depends what your undergrad was...  if you have the basic business courses completed, then you should be able to knock it out in a year easy with summer school (unless they'll let you take that many graduate hours during the semester proper).  If not, plan on a longer stay...

Find some place cheap in state and bang that shit out asap...  or, alternatively, find an employer that will pay your way.  Many of the programs are set up to offer courses in the evening so that you can work during the day. 

If you want to be a fancy pants and go for your phd, they'll probably pay you to do your course work and even if you fail your comps, you'll end up with a masters out of the deal...  just depends on how much time you want to blow and your opportunity cost... 

Wed, 01/18/2012 - 12:17 | Link to Comment BobPaulson
BobPaulson's picture

Large amounts of money.

Wed, 01/18/2012 - 13:08 | Link to Comment MachoMan
MachoMan's picture

Not really...  I got mine for ~$12k w/ in state tuition and having a business undergrad...  can basically pay for itself in 1 year of employment...  not a tough decision.

The people who are looking at 20 years to repay their loans might reconsider...  (I literally know of no one who is paying off principal early).

In large part, a degree is a fungible product.

Wed, 01/18/2012 - 15:26 | Link to Comment BobPaulson
BobPaulson's picture

That's quite surprising actually. The MBA factories seem to be huge money grabs from what I can see.

Wed, 01/18/2012 - 14:52 | Link to Comment anotherbob
anotherbob's picture

 

MBA guy: I have an MBA and yet I keep losing money in the stock market. How can this be?

Dilbert's boss: I put all of my money in gold because it's shiny. My portfolio doubled last year.

Dilbert's boss: I'm thinking of getting an MBA. How long does it take? A week?

http://www.cleananalyst.com/2011/10/01/dilbert-mbas-stocks-vs-gold-non-mbas/

 

Wed, 01/18/2012 - 12:04 | Link to Comment nonclaim
nonclaim's picture

Btw, nothing says "trust fund chick" or "royal" like a degree in "art history"....just saying.

Exactly, how many where in the 1% before whatever title they got?

Wed, 01/18/2012 - 12:15 | Link to Comment Bartanist
Bartanist's picture

Yes, the chart is meaningless without eliminating all those who were in the 1% prior to getting a degree. Without that added change it says ABSOLUTELY NOTHING about which degrees lead people to the 1% from not being in the 1%.

... and just to be clear, I believe that being in the 1% simply labels the type of person one is and where their priorities lie ... and little else. Even though it is pounded into our heads day and night that we should strive to become one of the 1%, along with using lots of cosmetics to change our appearance and have sex 6 times a day (or more), IMO (and experience) this is not what life is about.

It is the distraction.

Wed, 01/18/2012 - 12:13 | Link to Comment Agent P
Agent P's picture

My thoughts exactly...there's no better way to get rich than to start rich.

Wed, 01/18/2012 - 11:58 | Link to Comment maxw3st
maxw3st's picture

So computer scientists and programmers are screwed. But that's where there are 1000s of jobs.

Wed, 01/18/2012 - 12:01 | Link to Comment fnordfnordfnord
fnordfnordfnord's picture

computer scientists, programmers, engineers, etc. = Fry cooks of industry.

Wed, 01/18/2012 - 12:05 | Link to Comment tekhneek
tekhneek's picture

Better than majoring in "mass communications" or "liberal arts" and getting all the free internships you can get your hands on.

I'd rather make $.

Wed, 01/18/2012 - 12:27 | Link to Comment Silver Dreamer
Silver Dreamer's picture

We are still on hamster wheels like everyone else in the working class.  Our compensation is just higher.

Wed, 01/18/2012 - 13:27 | Link to Comment trav7777
trav7777's picture

and management (the valuable people LOL) have been tripping over themselves to outsource, H1B, and wage compress the industry.  Who cares about the domain knowledge that walks the fuck out the door, who cares about the BUSINESS?  It's all just cost and profit numbers to these morons and making the next quarter's bonus.

When the last place I was at attrited people who had critical enterprise knowledge I told them to take solace in that their former salaries were going to be a bonus divided up amongst all the management up the chain (none of whom knew fuck about the particulars of how to operate the company).

Wed, 01/18/2012 - 13:19 | Link to Comment mr_T
mr_T's picture

Why waste ur time being scientist engineer.. no job security.no good pay.
Be a Plummer. People gotta shit..

Wed, 01/18/2012 - 13:48 | Link to Comment Diet Coke and F...
Diet Coke and Floozies's picture

"computer scientists, programmers, engineers, etc. = Fry cooks of industry."

Right on! I am an ex-software developer (3+ years). Never again. Two friends of mine are software developers as well; they will never do it again.

Wed, 01/18/2012 - 12:15 | Link to Comment Alex Kintner
Alex Kintner's picture

Any job performed at a desk with computer or phone is subject to offshoring. You are competing on a 'wage only' basis with barefooted people with Devry tech certificates. And this is the prime reason that US U6 unemployment is 15-20%.

Wed, 01/18/2012 - 12:25 | Link to Comment NotApplicable
NotApplicable's picture

To think of all that money I wasted on shoes!

Wed, 01/18/2012 - 12:20 | Link to Comment BobPaulson
BobPaulson's picture

Not just computer science, all the techies. I teach engineering and I see a lot of brilliant Mr. Spocks go by and shake my head thinking they will be working for some parasite one day. That said, most techies kindof like being grunts in the trenches.

Wed, 01/18/2012 - 11:58 | Link to Comment SHEEPFUKKER
SHEEPFUKKER's picture

100% of college grads will become debt slaves. 

Wed, 01/18/2012 - 12:29 | Link to Comment Silver Dreamer
Silver Dreamer's picture

100%?  I have not become one.  My college degree in Computer Networking is quite useful, and I didn't pay for over half of it.  The company I was working for at the time funded much of it through the $5250 tax break they received.  The only debt I have from student loans is very small, and I'm leaving it unpaid because the interest rate on it is lower than current inflation.  Why bother?

Wed, 01/18/2012 - 20:08 | Link to Comment Vlad Tepid
Vlad Tepid's picture

Just like a techie to answer that way - in a specific example that relates just to them about a general trend...I take it metaphorical phrase, irony, and hyperbole were not part of the networking class curriculum.  But it's OK.  You know what else kills humor?  Knowing that it is only the combination of two incompatible frames of reference and a timed delivery.  Techs are great people, but the party really dies sometimes...

Wed, 01/18/2012 - 11:58 | Link to Comment williambanzai7
williambanzai7's picture

Many of the liberal arts majors wound up in law school.

Wed, 01/18/2012 - 12:04 | Link to Comment A Lunatic
A Lunatic's picture

Or as potheads living in their parents basements. To be fair, a good many went on to bigger and better things such as the Occupy movement. (not to be confused with bowel movement)

Wed, 01/18/2012 - 12:06 | Link to Comment MachoMan
MachoMan's picture

Yep.  Basically take anything on the list that is liberal arts and just toss it into the lawyer category...  no other explanation (other than getting a part of the academic teet and reteaching those impractical things).  To a certain extent, you probably have quite a bit of spill over from the business degrees into the lawyer industry too...

I'd also be curious about double counting...  I'm sure plenty of people have multiple degrees on the list.

Wed, 01/18/2012 - 11:59 | Link to Comment s2man
s2man's picture

And look at the right hand column, the share of 1%ers.  Top four are:

Biology, Economics, Political Science and Accountants.

WTF mate?  Biology?

Wed, 01/18/2012 - 12:00 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Monsanto.

Wed, 01/18/2012 - 12:02 | Link to Comment s2man
s2man's picture

That's what I thought.  But splicing genes gets you into the 1%?  Ah, maybe royalties on the patents...

Wed, 01/18/2012 - 12:18 | Link to Comment MachoMan
MachoMan's picture

lots of docs w/ biology degrees...  vets...  even patent attorneys...

basically 3/4 of the list of undergrad degrees get funneled into lawyers or doctors...

Wed, 01/18/2012 - 20:12 | Link to Comment Vlad Tepid
Vlad Tepid's picture

And remember it has to be the RIGHT biology.  "Biology" does very well, but "miscellaneous biology"...that one's for losers and idiots.  Better get a good advisor at the college admissions department!  (This is the screwiest and most nonsensical chart I've seen in a while -  for all thr reasons pointed out above.  NYT should just stick to making not-yet recycled kitty litter.)

Wed, 01/18/2012 - 12:25 | Link to Comment Oh regional Indian
Oh regional Indian's picture

I say if you have the genes, you can march into the banks.

Ain't that th etruth, MonAmigo?

;-)

ori

1460-days-ago

Wed, 01/18/2012 - 12:02 | Link to Comment SHEEPFUKKER
SHEEPFUKKER's picture

Biological weapons. 

Wed, 01/18/2012 - 12:05 | Link to Comment Alex Kintner
Alex Kintner's picture

Rich kids can major in any thing they want, as long as Daddy's trust fund will carry them to retirement.

Wed, 01/18/2012 - 12:11 | Link to Comment tmosley
tmosley's picture

lol, sure, all the rich kids are going into biology these days.  Not that it is the single most strenuous major out there.

I've never seen so much crap that had to be memorized rather than learned in my life.  Give me chemistry any day.  There you can learn the basic principles, and follow anything in the field.

Wed, 01/18/2012 - 12:08 | Link to Comment tmosley
tmosley's picture

Biotechnology is hot.  My own company has made quite a few 1%ers.  Ethically (by killing bacteria and other pathogens, not crop seed lines).

Wed, 01/18/2012 - 13:30 | Link to Comment trav7777
trav7777's picture

you're not supposed to be looking at the contents of their wastebaskets when you're emptying them during your evening rounds, cliff.  You can get fired for that

Wed, 01/18/2012 - 12:10 | Link to Comment jekyll island
jekyll island's picture

Biology is a premedical degree for most, the remainder will go on to graduate degree or work in a research lab.  When I went to medical school 20 years ago there was no "Premed" classification or degree.  You got a bachelor's and then applied for entrance.  

Wed, 01/18/2012 - 12:25 | Link to Comment BobPaulson
BobPaulson's picture

For sure. Fear of death still drives the market for doctors. If you look at it from a societal standpoint, doctors make way too much, but from an individual market standpoint, old people have the money and are willing to pay anything for a few more years of life, even if our society would advance much more if we doubled the salary of kindergarten teachers and made that occupation more competitive.

Wed, 01/18/2012 - 12:29 | Link to Comment tmosley
tmosley's picture

I highly suggest you read this article: http://mises.org/daily/4276

Doctors make too much because they are artificially scarce.

Wed, 01/18/2012 - 13:17 | Link to Comment Widowmaker
Widowmaker's picture

Leave the AMA out of this!

Their associations (same with dentistry) are a fucking racket.

It's a repressed field alright, only the "chosen" alumni spawn may enter.  They know to keep their mouths shut because daddy said so.

Wed, 01/18/2012 - 12:38 | Link to Comment Stack Trace
Stack Trace's picture

Answer to this is simple but complicated :-)

Tax the hell out of old folks and funnel it into Kindegartens. Then the old folks die off sooner consuming fewer benefits and the young get a fighting chance.

Too bad that just won't work for a myriad of reasons. That is why I find social engineering by tax policy as offensive. Instead there should be market based incentives to promote investment in our children. I believe this is the single greatest problem facing the viability of naked short-sighted capitalism: the inability to coordinate with other competitors to provide a foundational system that produces educated, thoughtful, open-minded, and engaged young citizens. Eventually the populations segment into so many groups that the cohesive body of national identity disolves. Dissolution is on the way unless some sort of self-correcting mechanism kicks in...a reset.

Wed, 01/18/2012 - 13:33 | Link to Comment trav7777
trav7777's picture

bad idea.  Too much is already spent on education, the results versus cost graph slopes DOWNWARD.

Only the now-gone majority white babies were able to keep it flatlined.  As brown babies continue to proliferate, results will inevitably crater and gravitate toward the medians of those populations.

Your silly belief that you can just nurture in all these highminded concepts is absurd.  You apparently never went to school. 

Wed, 01/18/2012 - 14:34 | Link to Comment Stack Trace
Stack Trace's picture

Obviously reading comprehension isn't one of your strengths. I didn't state that these concepts are engendered solely by education. I spoke of "foundational" changes in a society necessary to prevent the dissolution of the status quo. I didnt say I thought this was possible or would occur and made no mention of race. I don't think race has anything to do with it. Of course your ignorant rascism is noted.

Furthermore, I didn't say more money needed to be spent. I simply was rephrasing the other poster to make my point that I find social engineering through tax policy alone as offensive. Clearly you need some education.

Wed, 01/18/2012 - 15:33 | Link to Comment BobPaulson
BobPaulson's picture

Sorry if this doesn't fit into your eugenics world model but there is a fair bit of pretty good research out there showing it isn't race but early childhood education. Since this comes from parents, on the surface it looks like race, but it's just that class is entrenched by motherhood. Look at the data for adopted kids and their age at adoption and you'll find DNA is not a very strong predictor of success.

 

(edit, this was meant as a reply to the post above)

Wed, 01/18/2012 - 12:53 | Link to Comment Ropingdown
Ropingdown's picture

Old folks don't have THE money.  Old folks have YOUR money.  And when you are old it isn't going to be that way.

Wed, 01/18/2012 - 17:28 | Link to Comment Iwanttoknow
Iwanttoknow's picture

compared to what,Wall street,professional sports players,Congress,worthless management fucks in HMOs?The CEO in the HMO I work for makes 1 millon,with an MBA from a pedestrian school.

Wed, 01/18/2012 - 12:03 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Get into any of the complexes and you're made. Big Pharma, MIC, top tier banks = TBTF.

Wed, 01/18/2012 - 12:00 | Link to Comment Seasmoke
Seasmoke's picture

i still say nothing beats Street Pharmasist

Wed, 01/18/2012 - 12:26 | Link to Comment NotApplicable
NotApplicable's picture

Free-market pharma, ftw!

Wed, 01/18/2012 - 12:00 | Link to Comment fnordfnordfnord
fnordfnordfnord's picture

I want to know which ones will make you a 1%er if your parents are not also 1%ers.

Wed, 01/18/2012 - 12:06 | Link to Comment spinone
spinone's picture

None

Wed, 01/18/2012 - 12:08 | Link to Comment fnordfnordfnord
fnordfnordfnord's picture

I was afraid you'd say that.

Wed, 01/18/2012 - 12:06 | Link to Comment SheepDog-One
SheepDog-One's picture

'What degree to become a 1%'er'?

LOL, if you have to wonder if youre a 1%er, its already a fact youre not in that bloodline club.  

 

Wed, 01/18/2012 - 12:04 | Link to Comment 847328_3527
847328_3527's picture

savings....spending less is THE KEY.

Buy the Kia not the BMW....buy (or rent these days) the 1,620 sf house...not the 3,800 sf house...

stuff like that....

Read the Millionaire Next Door....it's true.....the wealthiest are the "cheapskates" not the flashy high earners who tend to be more frisky with their money.....

..in general....

Wed, 01/18/2012 - 12:03 | Link to Comment POpatriot
POpatriot's picture

Zoology??? Am I missing something?  Are these doctors or Vets as well.

 It looks like doctor's make up the vast majority.  Biology, Biochemical sciences, physiology, premed and zoology (?) .  Aka go into a field the government massively subsidizes.  Healthcare!!!

Wed, 01/18/2012 - 12:26 | Link to Comment MachoMan
MachoMan's picture

Over the next few years there are going to be a LOT of medical professionals that have a rude awakening as the teet is removed and/or their documentary and filing burdens are increased...  They'll also try and remove doctors from seeing patients and have nurses do most of the billing (at lower rates)...  doctors will merely "supervise."  It's already started in some fields.

My suggestion for joining the 1% is to avoid professions reliant upon direct government payment...  pick up a trade, name your own price, and rock and roll. 

Wed, 01/18/2012 - 12:30 | Link to Comment NotApplicable
NotApplicable's picture

I think you're forgetting where the government gets the payments from. Hard workers will never make the 1% either, as they will be bled for the masses.

About the only way left to get into the 1% club is to choose richer parents. Otherwise, all you can do is sell your soul to them in exchange for a ticket to the club (Lady Gaga and the infamous meat dress, for example).

Wed, 01/18/2012 - 13:20 | Link to Comment MachoMan
MachoMan's picture

This is true in large part...  but a significant part of the tradesman mystique is that a large portion of sales are done in cash...

The future holds these possible avenues of socioeconomic improvement: (1) manage the wealth of the wealthy or otherwise find a job as a middle man/water carrier; or (2) figure out how to take a little bit of money from a whole lot of people of lesser socioecomic status.  The concept of being a real producer or otherwise reinventing or creating an industry is largely dead...  a very, very select few will strike it rich with refinements of existing products and industries, but what I consider to be "game changer" innovations are...  well...  probably not coming (who would even want to in this political environment?), despite our system's fickle stability solely dependent upon these new innovations.

I'm not sure that being a part of the 1% should be so important as being a part of the autonomous.  Those with at least a mediocre degree of freedom comprise a much larger percentage of the population than the 1%...  as long as you stay above that bar, you and your offspring have a chance for socioeconomic improvement (albeit possibly over generations)...  but the grinder is cruel and sometimes arbitrary.  Hedge accordingly. 

Wed, 01/18/2012 - 13:34 | Link to Comment trav7777
trav7777's picture

if they fuck the trade classes, revolution follows.  Marx was not wrong about everything.

Wed, 01/18/2012 - 14:36 | Link to Comment MachoMan
MachoMan's picture

There aren't many more tradesmen around than unicorns...  FIRE FIRE FIRE FIRE for decades will do that to the economy.  Marx's premises were largely correct, but his solutions were...  nicht sehr gut. 

Wed, 01/18/2012 - 17:30 | Link to Comment Iwanttoknow
Iwanttoknow's picture

Machoman,you are on the ball.They are PA and RN.Most patients already see them.

Wed, 01/18/2012 - 12:03 | Link to Comment RockyRacoon
RockyRacoon's picture

Lame!  Too many variables not factored in.  Many of them pointed out already above.  Useless information.... again.

Wed, 01/18/2012 - 12:22 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

well, it is from the NYT, rocky!  but if U want something more nourishing, try the toronto star! which features the "boutique" commodities brokerage ponzi-0-the-week and how the professorships are "landed" & endowed

here's an update on barret capital's boondoggling up north [Barret Capital faked accounts to cover up client losses, investment regulator alleges - thestar.com] (paste):   By Josh Rubin Staff Reporter

 

A Toronto investment firm used clients’ money to make unauthorized trades, then produced fake account statements to cover up tens of thousands of dollars in losses when clients demanded answers, according to accusations from an investment regulator.

The accusations against Barret Capital Management Inc. were made in an affidavit from the Investment Industry Regulatory Organization of Canada. The affidavit was revealed as part of a rare IIROC “expedited hearing.” IIROC is seeking to suspend Barret’s membership.

The affidavit, by IIROC investigator Vito Pedone, alleged Barret has 162 clients, more than half of whom live in Israel. The total scope of the alleged losses wasn’t detailed in the affidavit.

and (paste):

A Toronto investment firm used clients’ money to make unauthorized trades, then produced fake account statements to cover up tens of thousands of dollars in losses when clients demanded answers, according to accusations from an investment regulator.

The accusations against Barret Capital Management Inc. were made in an affidavit from the Investment Industry Regulatory Organization of Canada. The affidavit was revealed as part of a rare IIROC “expedited hearing.” IIROC is seeking to suspend Barret’s membership.

The affidavit, by IIROC investigator Vito Pedone, alleged Barret has 162 clients, more than half of whom live in Israel. The total scope of the alleged losses wasn’t detailed in the affidavit.

Barret lawyer Darryl Mann called the proposed sanctions a “death penalty,” and asked for a delay so he could prepare a proper defence. The three-member panel granted his request, ruling that the full hearing would be delayed until Feb. 13. Until then, Barret is barred from trading in the futures and options markets, while any trades in physical gold or silver will need to be approved by a monitor from Laurentian Bank Securities.

During a break in proceedings, Mann wouldn’t say whether Barret’s clients would see any or all of their money returned.

“There’s no issue. That’s between Barret and their clients,” Mann said.

He vowed his client will fight the allegations.

“The Cohens have no prior disciplinary record with any regulator, and Barret has no prior disciplinary record,” said Mann.

IIROC staff lawyer Susan Kushneryk told the three-member panel that the unusual proceeding was warranted because of the “imminent” danger to clients if Barret was allowed to keep trading.

“I admit that this is an extraordinary remedy, but these are extraordinary circumstances. This is not a case of messy records. This was deliberate, manipulative conduct,” alleged Kushneryk.

IIROC was tipped off by suspicious “carrying brokers,” firms which provided back office services, including executing the trades.

The affidavit paints a portrait of investors shocked to learn most of their money was gone.  (my emph~~L0L!!!)

One investigator, according to the affidavit, told a client his money was wiped out entirely.

“I guess it would surprise you to know that your account not only lost the $10,000, but there’s a balance owing on the account of $21,000?” the investigator Doug Cope said. The stunned client responded “Holy f---, no I didn’t know that at all.”

Among the allegations, which have not been proven, detailed in the affidavit:

One client, who invested $50,000 with the company in June 2008, saw his account’s value fall to $2,646.43 within a year. Barret officials, including CEO and founder Jamie Cohen, later allegedly repeatedly assured him his money was still there, claiming he had soy bean futures investments worth $21,000, wheat futures worth $12,000 and a Swiss franc option worth $13,000.

Barret regularly used client funds to make its own trades, then decided at the end of each day which accounts to put the money into.

  One of the carrying brokers who grew suspicious of Barret was MF Global, the company run by former New Jersey governor John Corzine which filed for bankruptcy last year. Barret founder Jamie Cohen worked at MF Global for more than four years. (my emph, again; end paste)

this is mosta the print, but there are still a few tidbits if you read the whole piecereminds me of bilary's broker, back in Arkansas, deciding which accounts to use for this, that, and the gubbba family account

also, we get the odor of a madoff sweating away to keep things "presentable" as so much of modern economic theory seems to require of it's bonus-bonered "managers and executives" as they flail away at y-o-u from their ww.zombieFortresses.con

finally, if MFGlobal BK'd on/abt halloween, they prob "reported the irregularites" b4 then, which leaves us w/ the canuck version of "regulation" = wtf, eh? those fuking hoZers!

 

Wed, 01/18/2012 - 12:56 | Link to Comment 847328_3527
847328_3527's picture

"Financial Fraud 101: A Beginner's Guide" is the most in demand course now at business schools....

Wed, 01/18/2012 - 13:41 | Link to Comment RockyRacoon
RockyRacoon's picture

“The Cohens have no prior disciplinary record with any regulator, and Barret has no prior disciplinary record,” said Mann.

That means that they haven't been caught... until now.

The whole thing is really sickening.

Thanks for the update, Slewie.

Wed, 01/18/2012 - 12:04 | Link to Comment MrBoompi
MrBoompi's picture

The vast majority of all these graduates are in the 99%.  Still the best way to become a 1%er is to be born into the 1%.

 

 

Wed, 01/18/2012 - 12:10 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

Nothing beats being a member of the "Lucky Sperm Club"!

Wed, 01/18/2012 - 12:11 | Link to Comment Spastica Rex
Spastica Rex's picture

The Ministry of Truth would like to have a word with you...

Wed, 01/18/2012 - 12:19 | Link to Comment Liquid Courage
Liquid Courage's picture

Bingo. Anyone really believe whatever degree is required cannot be aquired - one way or another. Care to give George Bush a pop quiz on his major? Not to pick on "poor" GB ... he's just one example who seems to stand out like a sore thumb.

Wed, 01/18/2012 - 12:08 | Link to Comment Spastica Rex
Spastica Rex's picture

I knew my undergradutae degree in English Language and Literature (University of Wahington, 1988) would pay off some day. 1%, HERE I COME!

Wed, 01/18/2012 - 12:18 | Link to Comment Flakmeister
Flakmeister's picture

Was the typo deliberate???

Wed, 01/18/2012 - 12:31 | Link to Comment Spastica Rex
Spastica Rex's picture

No. Damn.

Wed, 01/18/2012 - 12:32 | Link to Comment NotApplicable
NotApplicable's picture

Or Delibertae?

Wed, 01/18/2012 - 13:02 | Link to Comment Flakmeister
Flakmeister's picture

Yep... well spotted  :-)

I thought maybe Rex was being subtle.... (i.e. he ain't in the 1% despite an English degree because he can't spel )

 

Wed, 01/18/2012 - 12:09 | Link to Comment aquagreen73s
aquagreen73s's picture

Economics, Poly Sci, Finance, English....their representations in the chart will prove as fleeting as the $300,000 realtor. Those majors represent the periphery that has reaped stunning benefit from the Keynsian, fake economy blow-off of the late 20th, early 21st century. Game over. Like everything else, we shrink back to the core which means the market will reward based on what one can produce. Hard to envision greater rewards for quoting Shakespear over the ability to design a better turbopump.

Wed, 01/18/2012 - 12:15 | Link to Comment Spastica Rex
Spastica Rex's picture

Let me assure you, I've reaped little from the Keynsian fake economy due to my peripheral English degree. I did (and still do) enjoy William Butler Yeats, though.

Wed, 01/18/2012 - 12:34 | Link to Comment NotApplicable
NotApplicable's picture

I've a friend with a masters in English. Best damn Scrabble player I've ever seen.

Wed, 01/18/2012 - 13:03 | Link to Comment aquagreen73s
aquagreen73s's picture

That probably has more to do with you having a conscience. The degree is but one factor.

Wed, 01/18/2012 - 13:20 | Link to Comment Ralph Spoilsport
Ralph Spoilsport's picture

I credit my English degree with giving me the abilty to digest computer programming manuals. Then the offshoring began and we were all outsourced. My current occupation requires the ability to digest lots of oatmeal and peanut butter since I'm unemployed.

Wed, 01/18/2012 - 13:51 | Link to Comment ucsbcanuck
ucsbcanuck's picture

Spastica - bet you can pull the chicks though

Wed, 01/18/2012 - 21:45 | Link to Comment chindit13
chindit13's picture

Let's drag this out one more time....

The intellect of man is forced to choose
Perfection of the life, or of the work,
And if it take the second must refuse
A heavenly mansion, raging in the dark.
When all that story’s finished, what’s the news?
In luck or out, the toil has left its mark;
That old perplexity, an empty purse,
Or the day’s vanity, the night’s remorse

Wed, 01/18/2012 - 12:10 | Link to Comment Dick Darlington
Dick Darlington's picture

When will they change "eCONomics" as "voodoo shamanism"?

Wed, 01/18/2012 - 13:23 | Link to Comment MachoMan
MachoMan's picture

Or just steer people into its proper components, psychology and math...  instead of their red headed bastard child.

Wed, 01/18/2012 - 14:53 | Link to Comment Sokhmate
Sokhmate's picture

"Financial Sorcery" would be the closer Western equivalent

Wed, 01/18/2012 - 12:11 | Link to Comment Scottj88
Scottj88's picture

Economics, History, Accounting, Finance, Biology (big pharmas), etc...

Translation:
Shut up and be a good little slave.

Wed, 01/18/2012 - 12:13 | Link to Comment kote
kote's picture

Why are we still looking at earned income for these "1%" posts?  Mitt Romney doesn't even qualify as being top 1% by this definition.

12% of premeds are top 1%, but Mitt Romney isn't?

Wed, 01/18/2012 - 12:11 | Link to Comment vegas
vegas's picture

Economics? WTF, you can't be serious? Unless of course they are like Stolper and can land a job at Vampire Squid and fuck clients blind while enriching the Prop desk. NOW yur talkin' ECONOMICS baby.

 

http://vegasxau.blogspot.com

Wed, 01/18/2012 - 12:37 | Link to Comment NotApplicable
NotApplicable's picture

Perhaps all of the rational, logical people drop out as the material gets more and more ludicrous, leaving only the idiot water-boys like Krugman at the end to be the tools of the Street?

Good work, if ya can get it, I guess.

 

Wed, 01/18/2012 - 12:12 | Link to Comment Rainman
Rainman's picture

I guess embalming comes under ' miscellaneous biology '. Now that's a great gig. Everybody's in the pipeline as a new customer and never a complaint.

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