Take a Great Job or Play Poker?

[JohnnyHumongous]

I will be graduating from an Ivy League university shortly. I have been offered an entry-level job in management consulting that will pay between $70K and $80K to start (including bonuses- base is around $55K). The company is absolutely terrific, I will get a lot of responsibility and a ton of relevant experience. The obvious pros are the business education I will receive, along with potential opportunities for career advancement, B-School etc. which can possibly lead to a very very lucrative life down the road.

For a long time I thought this job was a clear homerun, but now I'm not so sure. Poker has become so lucrative for me that I'd be throwing away a ton of money to take this 50-60 hour per week job. I am averaging around $100 per hour in earnings playing poker as it is right now. As my skill improves even further this would be expected to go up. Putting in 45-50 hours per week, I would be very surprised not to pull in at least $180-200K in a year. Furthermore I have relatives who live in a Caribbean island nation and if I went to live with them, I could earn all this money tax-free.

Of course, in business one can also expect rapid increases in earnings, and the "runway" is much greater in the business world, meaning the ceiling of earnings can be much much higher. Also playing cards, while fun and interesting, isn't necessarily something I would want to spend a lifetime focusing on (don't get me wrong though, I will probably keep it as a serious hobby for the rest of my life). And in theory, I can rejoin the business world after a year or two playing cards (although I don't know how I'll deal with the pay cut).

I know that I am blessed with two very good choices here. I would love your guys' input on the situation... because there are countless pros and cons for both 'careers'. Thanks.

[DMBFan23]

I dont think, from what I've read, that you would want to or be able to put in 45-50 hours playing poker. I would keep poker as a lucrative hobby, especially if this company is going to send you to business school.

[jasonHoldEm]

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and if I went to live with them, I could earn all this money tax-free.

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Take the job, the above statement shows you have a lot to learn.

J

[JohnnyHumongous]

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Take the job, the above statement shows you have a lot to learn.

J

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Come again?

[Bluffoon]

Poker = Great Avocation

Poker = Lousy Vocation

Take the job and enjoy poker as a lucrative hobby. At the worst you can "retire" early to a poker career with financial security.

[nolanfan34]

Take the job, and I don't think this decision is even remotely close.

Nothing says you can't still put in some hours playing poker and have the job as well. You are going to make plenty of money to live on.

[grimel]

1) tax free isn't the end all and be all.
2) you'd be living with someone else.
3) playing for a living different than playing for fun.
4) with a top paying job, poker can be a very nice extra bit of cash AND the inevitable downswings don't cause ulcers, just step down levels, ride it out, and go back up.
5) unless you buy EVERYTHING cash, making $200k a year playing poker won't make you able to buy a $400k house and a $30k car. For some reason banks tend to not look well on gamblers. Now, if you were a stock trader they'd love it.

[La Brujita]

The job is a much much better option.

[JohnnyHumongous]

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Take the job, and I don't think this decision is even remotely close.

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I hear you, but do you mind just elaborating on why you think this is the case?

[turnipmonster]

I think he's referring to the fact you would still have to pay taxes on the money your earn since you are probably a US citizen.