"When billionaire Michael Bloomberg launched his career after college in the 1960s, he was only making $11,500 a year. To be sure, that was a decent salary back then, and would be equivalent to roughly $114,000 today. But Bloomberg, fresh off earning a bachelor's degree from Johns Hopkins University and an MBA from Harvard University, actually had the option to make more. Another company had offered him a $14,000 salary, but he preferred the people he had met at Wall Street investment bank Salomon Brothers."
"'Certain jobs you shouldn't take' Another finance world legend, Warren Buffett, also shares the same mentality about prioritizing the people you work with over how much you get paid. "Don't worry too much about starting salaries and be very careful who you work for because you will take on the habits of the people around you," Buffett warned the next generation of workers during his final Berkshire Hathaway annual shareholder meeting. "There are certain jobs you shouldn't take.""
Michael Bloomberg began his career in the 1960s earning $11,500 a year, roughly equivalent to $114,000 today. He declined a $14,000 offer to join Salomon Brothers because he preferred the people he met there. Salomon initially offered $9,000 plus a $2,500 loan after Bloomberg negotiated. He received a $500 bonus toward the loan in his first year and a $2,000 bonus for loan forgiveness the following year. Bloomberg emphasized that choosing the right workplace over a higher salary produced strong long-term outcomes. Warren Buffett similarly warns to be careful who one works for and to avoid certain jobs. Economic pressures include inflation, a soft job market, and housing affordability challenges.
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