Quitting Your Job Articles

[Shaun]

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I think an overlooked point is that almost any professional poker player would be making more money at another type of job. The discipline and fortitude required to be a pro are tremendous and better compensated in other lines of work. So many choose the life because they don't want to work for anybody else, but soon discover playing poker for a living is a lot of work and comes with its own sacrifices.

http://thispokerlife.blogspot.com

[/ QUOTE ]

Not really. While this is a possibility, many of the characteristics that make one a success playing for a living have less use than other characteristics when it comes to climbing the corporate ladder.

I don't have to kiss ass and politic to make good money playing cards. I also don't have to be concerned with the approval of others, and this is very good for me. While I am good at playing poker for a living, I doubt I'd be good at sucking up to someone I felt knew less than I did in order to get a raise or a promotion.

Furthermore, the idea that one can get some great job right out of college is pretty much a lie. I know a couple of Ivy League graduates with terrific connections who still make less than myself and probably a decent percentage of the pros on this forum. These guys are essentially the cream of the job-pool crop.

I on the other hand, have a degree in humanities from a state university, which makes me fairly knowledgable about some interesting things, but makes my earning potential in the 9-5 world pretty low. The idea that success in a pursuit like professional poker would translate to greater success in the straight world is not really valid. Sure it could, but I think that just as often one would have a less successful life choosing the 9-5 job road.

[Poker Cat]

Actually, Mason, I don't think your post goes far enough.

I agree it can be worthwhile and self-affirming to "settle" for a fourth-rate income and driving used cars if it will free you to do what you want. You didn't mention that that freedom can lead to much greater success, too. I assume 2+2 now brings you a little more than 50K/yr, yes? Where would you be now if you'd stay in aerospace?

[Mason Malmuth]

Hi Cat:

Before I left Northrop, our vice president had told me that they wanted to move me into management. So I suspect my salary would be at least triple today what it was when I left.

But you are right. By following the path I did, I am today far more successful than I ever thought was possible. But I did have some lean years where all resources were going into the effort to put this all together.

Best wishes,
Mason

[Peter666]

And by doing so, you have helped many of us become quite wealthy. Thanks for suffering the lean years Mason. I owe you a Coke.

[Leavenfish]

[ QUOTE ]
But I did have some lean years where all resources were going into the effort to put this all together.


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While I am all for people pursuing their dreams...doesn't this add creedance to those who would voice caution? I mean, if you had lean years, think about what it could be like for your average person.

---Leavenfish

[Shoe]

At first I agreed with you, then I realized these articles could hurt your book sales, and that you and Sklansky just came fresh out of a board meeting and started attacking these messages (from what I hear), after writing in your own books how hard it is to go pro. Coincidence? I hope.

[Mason Malmuth]

Hi Fish:

I realize now that my "lean years" statement can be somewhat misinterpreted. Unlike many other companies, Two Plus Two was always profitable. It's just that to expand and grow all profits plus some other money I had and what I could borrow were going in.

In addition, and this is very true today, we always have a backlog of outstanding payments. It takes most of our big buyers three to four months to pay up. So while often short on cash, I knew that within the next few weeks more money would show up. But it did make it annoying if I had a few losing nights.

One thing to keep in mind, I always had the option not to do another book or update a current one, and thus either save or put off that investment. This would have allowed the lean years to have ended sooner, but then again our family of books today would not be as complete, and I never had any doubt that in the long run Two Plus Two was going to be a big success.

Best wishes,
Mason

[Mason Malmuth]

You're right, David and I were quite concerned about the impact this would have on our bottom line. In fact, most everything we do is designed to only enhance our wallets. So in the future, I suggest you purchase books from other authors who don't think in this fashion.

MM

[garyjacosta]

Interestingly, I am trying to take the opposite route as Mason. I got my BS in Economics 4 years ago, and I have since gotten married and had 2 children.

My plan is to use the flexibility that part time poker playing affords me to go back to school and earn my masters.

Hopefully I'll become so skilled at playing the cards that I won't ever have to use the advanced degree. But more realistically I will have as a backup plan what most resign themselves to.... a job in corporate America. But I will have done it on my terms.

[Shoe]

NH