Its actually a complex job and you have to be able to think on your feet. First, you have to know about cars. Not just know models, but know about how they are built, how to take various parts off the car, install them, painting the car, etc. Second, when your working at a small business, you have to know something about how a business operates such as accounting, profit/loss, etc. Third, you have to sell your estimates to experienced insurance adjusters who want to redline your sheets at every turn. Fourth, you have to work with commissioned technicians and sell them on your estimate. These are usually rough 3rd world guys who get a commission on each hour on the sheet. Fifth, dealing with the owner of the business is a complex reality. Sixth, there is too much to it to entirely explain and there is no way just anyone can walk off the street to do it. I have been into cars my entire life, since high school, and know exactly what it takes to rebuild one. I've been in various car clubs and participated in several rebuilds. I have worked with various estimating systems like ADP, Mitchell and Pathways. As well, I have been a salesman my entire life and know how to sell. As for salary, it depends upon where you work. If you want to make a six digit salary as an estimator, then you have to be in an area like Mountain View or Southern California where new cars are the rule and not the exception. You have to be able to push through at least 100k in repairs per month without any problems or complaints. You wont make that kind of money in some place like Kansas. There is simply not enough new cars there and bodyshops in that region are not profitable. If you want to see the money that can be made in bodyshops or at a car dealership in California, then walk into Harry's Body Shop on La Brea in Los Angeles. Harry Barsegian is a rich man and so are his estimators in the office. Bentleys and Vanquishes are what he repairs as well as many other vehicles. Walk into Holmes Bodyshop in Pasadena and look at the pieces of expensive artwork on the wall. How about Marco's Autobody which is a 25+ million dollar a year operation? You can find their headquarters in San Gabriel and that location alone moves $1,000,000+ in repairs per month. Last time I checked Marco drives a Lexus SC430 and his wife a BMW 5 series. In California, the estimators make close to six digits, the guys who work in the service booths close to six digits, the car salesman over six digits, and the guys who own these operations close to seven digits if not more. These are not easy jobs. Dont think you can just walk right in not knowing anything and think you will last two weeks. You have to know how to sell, know what your selling and know who your selling to. You have an owner that is constantly on your back and watching your every move. If your not an aggressive knowledgable "rainmaker", then you will be fired in about a week. If there is so much as one complaint from anyone because of your service, then your fired quickly. For myself, I have always worked in aggressive sales operations and know how to hold my own. I've always produced without excuse and have always been able to make six digits year after year. Even in the worst of times like the recession of 2001, I was still able to turn six digits. I had to work at a car dealership to do it selling repairs, but I did it. There is no estimator, car salesman, service coordinator, etc. that will work for 40k in California. None. The most successful man that I met, who didnt actually own the operation itself, was the general manager of the Penske operation in Downey California. He could regularly be seen driving out of the dealership in either a Mercedes S500 or Porsche 911 wearing a tailored suit. Try hiring an estimator yourself either in the NYC area, Los Angeles area or the San Francisco bay area for 40,000. You wont be able to find one for that, guaranteed.... Im willing to bet a grand that I could get twice the money working at a car dealership or autobody in Greenwich then this young man can get working at a hedge fund. This is a very shocking reality. They will have this guy work his ass off for that 5k, which is year 2000 salary, and I dont think they will move him anywhere where as I can get a job at car dealership selling cars and EASILY make over 10k a month. I'll put a grand up right now because I know that I am right. Are you willing to throw up a grand and participate in this bet or just post up some random links and talk about something you dont know about?
first you say that you walked in off the street, had a 10 minute interview, and was in, and now you say this. There goes your credibili.. oh shit, i forgot, you have none.
He went from body shop estimator to investment bank prop trader: http://www.elitetrader.com/vb/searc...=1875259&sortby=lastpost&sortorder=descending IB sell-side 101: This is a turret: This is a standard phone used on a PBX system:
It's a bet, $1,000. $120,000 yearly salary at a Greenwich auto dealer or body shop. You've got a month. Proof in the form of a signed employment contract by August 19, 2007. Here's some more action. I'll bet you $10,000 you can't stay on your feet for 10 minutes in a boxing ring with me. A mutually agreed date in December07 in/around the NYC metro area. 12oz gloves, no headgear. If I win I will donate the $10k to the American Cancer Society.
atticus wow you are such a tough guy and all challenging someone to a fight on a forum. GET A LIFE sucker.
Unfortunately, there are no contracts in the automobile business. You walk off the street, talk to the owner or manager and then he gives you a shot for a few weeks to see if you can "hack it". Those who can hack it make six figure salaries while those who dont get fired within weeks (sometimes days or hours). If you walked into Ray Catena Lexus, BMW of Westchester, etc., Im certain they will give you a shot for a few days. If you can move their cars or sell their repairs, then Im certain you'll be able to make six figures easily. In a place like Greenwich, you would have to be a babbling idiot not to make six figures in the automobile world. Believe me, I would feel like a kid in a candy store working in a luxury car dealership in the hedge fund capital of the world. It would be **too easy**. The beauty of the auto dealership world is that they will take on anyone without checking your background. In some states, they require you to be licensed by the state because there were too many ex-cons becoming car salesmen. Its a no BS type of environment where you either can move the product or you cant. They dont care about your education, where you worked before or how you go there. All they care about is if you can move their product and, if you can, you are rewarded handsomely. If you cant, you get the good ole pink slip. In the year 2001 after September 11th, many of us were forced to take jobs that we did not want or desire at the time. We didnt know how long the bad times would last. Would it last for 16 years like it did in the 60s/s70s? Maybe last like it did from 1929 to the 40s? It was a shocking wake up call for myself. During the New Year of 1999/2000, everything seemed like roses made of gold in the Bay area. We were all thinking of a life of luxury living. However, almost one year later at the end of 2001, I knew what it was like to be a stock trader after the crash of 1929. The only difference is that the 1929 crash came sudden and swift like a heart attack. This crash was more like dieing from aids as the indexes kept making new lows and grinding lower, ever lower. To add to the horrors and perplexing feelings, one day my sister calls me to say the Trade Towers are coming down. I watched on television that day wondering what has become of the world. One day, I am sitting at a luxury reception celebrating the new year with my co-workers and everything seems like roses. We have dreams of becoming these barons. The next day the world trade center is a bunch of rubble and the stock market is trading like we are in the depression. Having an MBA in the late part of 2001 meant nothing...It didnt matter. You were lucky to just have work. I never thought I would feel so glad to have a job at a car dealership with a steady paycheck as some of my other colleagues were out of work for at least a year or more. Fortunately, history did not repeat itself and things were able to bounce back nicely. We found our way out of it and moved on. My point here being that this guy's expectations are way too high. This hedge fund is paying him dirt. A below average car salesman can get a better salary then that. In a year or so, this hedge fund might not even exist and who knows, maybe the indexes will once again look like a wreck and another great terrorist attack might occur. He is spending his cash like a drunken sailor on liberty call. New cars, expensive apartments. Not saving a dime. Ok you can do that, fine, but beware if things dont go your way then you will surely be hurting and looking for creative ways as I did in 2001. As for boxing me, atticus, I'm signed up for the competition. If you want to box me, then if your qualified for the competition, you can come down and face me. The competition is coming up soon. You can only participate in the competition if you received an invitation from the publication. I believe there is a certain net worth requirement. I do not fight in the streets of NYC, but in these competitions within my own circle. If you want to fight people, then there are plenty of guys lined up in the bars who are ready for you. I box in civilized boxing clubs not in bars or on the streets of the Bronx. If you like to do that, more power to you. I like to do things slightly differently.
Then you concede on the $1,000 bet. I'll PM where to send the check. The $10,000 bet is a fight in a gym. You can name the venue. I never stated anything about a street fight.