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Oh boy, this one hits home hahaha."How money works" is an amazing channel. Thanks for sharing this video I also saw it yesterday and found it quite interesting. I can only speak from personal experience. I have done IQ tests and I understand that they have many limitations in regard to applying them as a predictor. The reason is they measure a very specific set of skills. Also in my experience, way too many people even if they are extremely smart fail to understand basic economic concepts. Concepts like supply and demand. For example, many times I hear from colleagues in FINANCE AKA the experts, that x,y,z people should be paid more because they did a master's degree and studied and they have skills. And these people have roles like FP&A managers and heads of Finance. I am like what??? Who gives a shit what you studied or how accurate your Big data query is? Way too many people have these skills nowadays so you have to compete with all these people that drive your market value down. And the market is a very selfish place. But NOOOO "I studied and I am good with numbers hence I need to get paid mooooooore". Five years from now, I will be laughing on the sidelines when these roles (including my current role) become obsolete while young plumbers and electricians make the big bucks.
It's funny to see how certificates or degrees in the financial industry are perceived as the pinnacle of mastery and your "golden ticket" into the big bucks.
And just the other day, I saw they were expecting CFA Level I and (desirably) a Master's degree, just for an entry-level position at a job where you won't be the actual portfolio manager .
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