patrick.net

DS,

You stated in your last comment: "you said, how does someone make 250K, and i pointed out it’s quite possible in the mortgage business, and in finance generally, without too much ‘formal’ education or a college degree."

Let me remind you that I originally said: "Wow, a job that pays a 22 year old high school graduate with no training $250K a year. Where was this job all my life?" and followed up with "Well, damn me for knowing better… I’m still quite impressed. $250K is quite a lot of commission for a 22 yr old broker (presumably one who does not have an assistant and must pay a large portion of his commission to his office)."

Both of which clarified that I'm merely surprised about the existence of a particular subset of (1) high school graduates (2) with few years of work experience (3) making $250K a year. I also explained why I thought the scenario was unlikely, because a 22 year old is likely to work by himself and share commissions with a head broker, which requires him to do a lot of work, gross.

You replied after my two comments with: "how many times have i said this before? my broker mate in DC pays herself $250K out of the business, works from home, employs loan officers and takes 40% of their commissions as well.

she didn’t bother completing her arts degree in college…

brokers in Oz only make 0.7% on a transaction, whereas in US it’s flexible, but around 5% (!). That’s about 7x the pay for doing the same work, i.e. filling out a few forms. "

You said "but around 5%" with no specification of prime or non-prime. Indeed, your use of the word "around" creates the impression that 5% is the norm, when in reality the majority of the mortgage business does not receive that level of compensation. With your unqualified statement on the matter, you held yourself out to be an expert. Expect to get called for confusing and misleading statements like that.

There's also the fact that your comment failed to explain my original query because your example was different from that of the 22 year old mortgage broker. I never said that mortgage brokers or undertrained mortgage brokers can make $250K, you just extrapolated that all by yourself.

As for how I chose to waste my time. (eye roll). It's my time, not yours! Though I've usually found time spent debating with you to be quite futile for reasons I've already explained numbers of times, I commented on your comments because they were in response to my query. If you don't like my responses to you, don't respond to me.