Spare me the from-rich-to-richer stories!

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Whenever I hear of fresh graduates securing high-paying jobs or students being awarded scholarships, the first question I ask is: Are their parents rich?

The rich people can afford to hire the best tutors and when the opportunity arises, they send their children to the best schools and help them secure high-paying jobs through their connections or by stating the name of the university they graduated from and their parents' job titles in their job applications.

A child who has talent or a strong ability but lack financial muscle would have to turn down certain opportunities. For example, this Singaporean girl was offered a place in the prestigeous Royal College of Music (RCM) in London but she has yet to take up the offer: her family does not have the ability to pay for it. I can relate to this because in my semister year of studies I was offered an overseas posting in Europe but I needed a guarantor with a certain income level and my parents did not earn that much.

I enjoy hearing from-rags-to-riches stories but please spare me the from-rich-to-richer ones!

7 comments:

Anonymous said...

one of my ex jc classmate was accepted into nus engineering...., rejected by nus law...her parents send her overseas for some law degree....shes a lawyer now...Imagine if her parents were not rich enuff, she wld not b where she was today...

David said...

Yu-Kym.

I agree that many children coming from wealth do have certiain advantages.

However that advantage diminishes after working a number of years.

Stateside, a Havard or Columbia grad my get a better intitial job and pay.

However a hard working and motivated student from most State Universities can often match the pay and job when they have job experience.

Even here it is mostly middle upper and wealthy that can afford to send children overseas for studies.

In today's economy there are more riches to rags stories. Kids from high class families and Universities who not only cannot find work, but when some find work they prove incompetent when working. More than a few of these spoiled kids are waiting tables or have moved back with parents.

David

subil said...
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Paul said...

I agree with David. Coming from a humble background made me determined to succeed against all odds and it made me very independent to source for my own solutions. That is not someone who is well-off could have. I can share more with you via email.

CBS said...

Just read this:
While inheriting a billion dollars is still the easiest way to land on our list of the world's wealthiest, it certainly isn't the most common. Almost two-thirds of the world's 946 billionaires made their fortunes from scratch, relying on grit and determination, and not good genes.

Fifty of these self-made tycoons are college or high school dropouts. The most famous billionaire dropout is Microsoft's Bill Gates, who finally got his honorary degree from Harvard University in June, 30 years after quitting the prestigious school to sell software. ''I did the best of everyone who failed,'' joked the world's richest man in his official graduation address. With failure like that, who needs success?

The rest of the story here:
http://www.forbes.com/2007/06/22/billionaires-gates-winfrey-biz-cz_ts_0626rags2riches.html

Paul said...

Somehow, in a strange twist of fate, my parents adopted the American way of bringing up children even though they were traditional Singaporean Chinese. They pretty much did not support me from poly onwards. My university studies was self-funded. Their lack of wealth did not stop me from pursuing what I wanted. Somehow, if you want it badly enough, you'll think of ways to get there.

David said...

CBS,

Bravo for you brilliant insights!

Singapore no doubt has manyentrepreneur's with ideas like CEREASLEY.

Stevne Jobs, Bill Gates, and Sam Walton did not graduate from top tier schools.

Sereral commenting have mentioned lack of parental support, yet those same people are successful from their own drive and effort.

Often being born into wealth does not guarantee success, Lindsay Lohan comes to mind as a spoiled rich girl that aside from family money, has only modest talent at best and has a career that appears to be going no where.

If someone wants to truly be successful the way will be found.

One more example. The very successful Forever 21 chain of fashion stores was found in 1984 by Korean immigrant Do Won Chang.

With little capital, some say about $500USD Do Won Chang started the first store of what grew into the chain Forever 21 stores.

Yu-Kym, is quite successful, making her mark in businesses often dominated by ment and male networks.

David