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Boston ITer
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 Posted: Sun Jun 24, 2007 4:48 pm GMT Post subject: |
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| Quote: | | You know some of these countries have billions of people so I wonder if you'll find say 100 million have one strategy and another 100 million have another. I wonder if it is hard to judge what direction so many people will go. |
In east Asia, there's quite a bit of planning, as far as economies of scale go (see South Korean Caebols as an example). Nonetheless, nations like South Korea and Taiwan maintain leadership roles in high end manufacturing of electronics so in a sense, a lot of our Anglo-American ideas of economics don't work abroad. Likewise, this Imperial planning of economics, as in the case of China Inc, will keep higher end R&D work gravitating towards the center but as work gets lower and lower on the value chain, (backoffice IT support [not R&D, design/analysis for controllers], rubber adhesives, timber composites, etc) gets pushed out to the "colonies", Vietnam, Indonesia, Namibia, and even Canada (in the future). |
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Boston ITer
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| Posted: Sun Jun 24, 2007 6:59 pm GMT Post subject: |
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| BTW, Samsung, Korea's largest Caebol, earns near $150 billion USD per annum (profiting almost ~$10 billion of that), was relatively unscathed during the east Asian currency fiasco of '98 and they've pretty much anniliated Intel's entry into the flash memory business during the past few years. So once again, the concept of America's blue chips always triumphing, is a myth of the prior century. |
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Guest
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| Posted: Mon Jun 25, 2007 8:37 pm GMT Post subject: |
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http://www.patentbarstudy.com/career/patentattorneysalary.html
Typical patent attorney salary is $115,000 - $150,000
http://www.physicianssearch.com/physician/salary2.html
And for doctors, a tad higher, esp if one's a specialist.
This is simple, regardless of the flow of global capital, Americans, as a group, will not waste a high GPA on an engineering career track. Those with the best credentials will opt for a better profession. The words, passion and dedication, apply to starving artists. The rest of the people are more practical. |
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Boston ITer
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| Posted: Mon Jun 25, 2007 10:37 pm GMT Post subject: |
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| Quote: | | The words, passion and dedication, apply to starving artists. The rest of the people are more practical. |
Hear, hear!
And on that note, I predict a glut of patent attorneys and agents in a decade's time as the ABA has done a terrible job of keeping science and engineering students out of law school. It's better to be a top college achiever, 3.8 GPA in any major plus 173 LSAT, graduate from a top program like Columbia or Harvard Law, and work for a big 100 firm (Wachtell/Lipton or Hale/Dorr), than to be a specialist in patents because there's a shrinking demand of tech saavy individuals considering that a lot of IP is being developed abroad. A corporate type of attorney can negotiate the multinational agreements on how terms are globalized and those big name firms always hire the usual suspects from the usual pedigree schools. The other route, though less lucrative, is to be a public litigator (or investigator) and get one's feet wet in the halls of govt for future big dollars in lobbying. But if you're a true science person, and enjoy studying, medical school's really to only path for lifelong job security at a six figure salary. |
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Guest
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| Posted: Tue Jun 26, 2007 1:59 am GMT Post subject: |
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| Quote: | | to be a specialist in patents because there's a shrinking demand of tech saavy individuals considering that a lot of IP is being developed abroad |
The advice is effectively the same, keep away from the sciences. Even a failed patent attorney can file someone's bankruptcy papers on the side whereas a 40-something out of work nuclear physicist doesn't have much to fall back on without going back to school for a health care job like nuclear medicine tech or rediology equipment repairman. |
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john p
Joined: 10 Mar 2006
Posts: 1820
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| Posted: Tue Jun 26, 2007 2:53 am GMT Post subject: |
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| I know some very successful financial people that are as dumb as a box of hammers. If someone had some brains they'd take a chance on the out of work nuclear scientist. I think it would take him about a month to learn more than the typical financial professional. Ask a typical financial professional a direct question about where things are headed, what to buy and why. As them to predict something. Most can't. They brag about how many billions their company has under managment but very rarely can operate beyond their basic tasks. Even the technical analysis, the convexities would be childsplay to a serious mathematic person or scientist. Why a Fidelity wouldn't snatch up a smart person is beyond me. I think they might have enough patronage hires and could use some talent. As far as the "passion" comment, let's say that if you're passionate about money i.e. greedy, don't discount that, your passionate. People without passion tend to be boring. |
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Guest
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| Posted: Tue Jun 26, 2007 3:52 pm GMT Post subject: |
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| Quote: | | If someone had some brains they'd take a chance on the out of work nuclear scientist. |
Isn't this an old story... "PhD Apollo engineer" driving a cab?
I think our society's adapting to the idea of underemployed scientists for around two decades since the oil patch bust of the 80s in Texas and Colorado. |
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Boston ITer
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| Posted: Tue Jun 26, 2007 7:03 pm GMT Post subject: |
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The age of the disposable worker, especially in tech, is in full bloom.
Many engineers try to get into the govt before the age restriction glass ceiling hits them.
You'll seldom see a fiftysomething, outside of management, wander the halls of a Cisco or Oracle. Tech companies want them either young, with a few years under the belt (24-29), or reasonably experienced (33-39) but not much older w/o hair coloring and botox. During the housing run up, a lot of ex-engineers worked at a Lowe or Home Depot but today, those fellows are out of luck. |
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Guest
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| Posted: Tue Jun 26, 2007 10:06 pm GMT Post subject: |
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| Quote: | | Tech companies want them either young, with a few years under the belt (24-29), or reasonably experienced (33-39) but not much older w/o hair coloring and botox |
Sounds like modeling or acting but without the big payoff after a promo/magazine stint or hit film. |
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MIT Guest
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| Posted: Wed Jun 27, 2007 2:43 am GMT Post subject: |
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| Anonymous wrote: | | Sounds like modeling or acting but without the big payoff after a promo/magazine stint or hit film. |
Au contraire. The big payoff carrot dangled in front of engineers is "equity." That may even be more likely to bear fruit than the modeling/acting retirement (non)strategy, albeit still very unreliable and risky.
Also, engineers can at least get a few good years of reasonable pay in before being put out to pasture, whereas most aspiring models and actors won't. Overall, I would consider the expected value to be substantially higher for engineers. |
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Boston ITer
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| Posted: Wed Jun 27, 2007 1:04 pm GMT Post subject: |
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| Quote: | | The big payoff carrot dangled in front of engineers is "equity." |
That was kinda 1990s, wasn't it? I mean today, other than the Google/eBay ethos, most other job environments are pretty much straight salary with an equity stake as a bonus when things work out.
As far as entertainment goes, most newcomers are well informed of their chances for failure and realize that for every Jessica Alba, there are probably fifty wannabes who can only get stints, standing around in lingerie sections of dept stores. Still, at least they know that if they reach the age of 29, without a record deal, it's time to apply for medical or pharmacy school. Most engineers don't know about age discrimination until they hit their 40th birthday, get no callbacks from headhunters, and find themselves reporting to a newly minted 30 yr old MBA w/o a clue. |
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john p
Joined: 10 Mar 2006
Posts: 1820
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| Posted: Wed Jun 27, 2007 2:12 pm GMT Post subject: |
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| I think that the big "start-up" bubble in the past business cycle has affected your industry's culture. I think you'll find a new form of organization will emerge. The opportunity and talent is there for someone creative enough to align the tools with the task. |
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AgentGrn
Joined: 28 Sep 2006
Posts: 82
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| Posted: Wed Jun 27, 2007 3:50 pm GMT Post subject: |
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The culture has indeed been affected ... now they outsource the engineers when possible.  |
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Boston ITer
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| Posted: Wed Jun 27, 2007 7:13 pm GMT Post subject: |
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| Quote: | | now they outsource the engineers when possible |
I believe the late 90s was the antithesis of the MBA->to->(screw the underling techie) ethos of corporate America. So for a short time, engineers were at an even playing field with lawyers, doctors, and MBAs. There was even a touchie feelie term floated about... the technocrat, as if a worker bee owned the rights to the IP he was working on. LOL! Well, you knew that couldn't last with the disempowering of the tech worker culture we live in where non-licensed/non-professional association types couldn't command anything. |
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Guest
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| Posted: Wed Jun 27, 2007 8:06 pm GMT Post subject: |
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That's a load of MIT media lab gobbledygook. The people who advocate that perspective are media friendly, independently wealthy software engineers, like Ray Kurzweil, who have simplistic ideas about the world where people become rich and healthy by inventing nanocomputers or nanobots.
Nothing could be further from the truth. It's the executives at a Mitsubishi or GE who bank the proceeds from those inventions who're rich. Many technocrats are full time students or postdocs at research universities, not financial kingpins. |
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