In this video, we continue our exploration of how Harvard students make money. Join us for insightful interviews and valuable tips on managing finances as a student. Learn from real experiences and discover diverse income sources. Stay tuned for practical advice and inspiring stories from fellow students. Don't miss out on this engaging discussion about student life and financial strategies!
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#Harvard #Students #MoneyMaking #Part 2 #StudentLife #FinancialTips #College #Income Sources #StudentInterviews #Money Management
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00:00What is the number one way you make money as a college student?
00:02How much would you say you spend every single month?
00:04What is the busiest thing you've seen a Harvard student do?
00:06How much would you say you make every single month?
00:0880k hedge fund internship over the summer.
00:1180k over the summer?
00:12Dang!
00:15Oooo, it's good to be back, baby!
00:17Now the last time we were at Harvard, we asked a ton of different students exactly how they made their money
00:21and ended up getting some pretty crazy numbers like
00:2340 grand doing an internship at Amazon.
00:2540 grand at Amazon? What?
00:27But even though we got some great financial advice from some of the brightest people in the world,
00:30there was still one thing missing that Harvard's notoriously known for more than anything else.
00:34Genius students making a shit ton of money.
00:36So today, we're back on the Harvard Yard with brand new students, even more questions,
00:40and a goal to find the most successful students on campus that really do make a shit ton of money.
00:44Let's do it!
00:45So you know, we're gonna cut out all the BS today.
00:47I have a very serious question for you.
00:49You gotta be honest with me though, okay?
00:53Who's your favorite singer?
00:54Oh.
00:56That was not what I was expecting.
00:57Favorite singer's gotta be Taylor Swift.
00:59Oh, a Swiftie! Okay, right off the bat today, alright.
01:04I'm gonna have to go with Bad Bunny.
01:05Maybe Hozier?
01:05Billie Eilish.
01:06Bruno Mars.
01:07Oooo, that's my favorite answer all day. Love Bruno Mars.
01:10My favorite singer is probably Tyler, the Creator.
01:12Close second is Erykah Badu.
01:14Wow, you are a man of very good taste over here. Okay, I like that.
01:18Well, now that we're best friends, you ready to get into it?
01:19I'm ready to get into it. Let's hear it.
01:21Alright, let's do it.
01:22So first question, what is your name? Where are you from?
01:24And what are you studying here at Harvard?
01:25My name is Cosimo Fabrizio.
01:26Jahir Tineo.
01:27George Ivanovic.
01:28Christian Calhoun.
01:29Erykah.
01:29Joshua.
01:30Ruben.
01:30If you can't tell from my accent, I'm from the UK.
01:32I'm originally from South Orange, New Jersey.
01:34Albuquerque, New Mexico.
01:35Lincoln, Massachusetts.
01:36Brockton, Massachusetts, which is like 30 minutes away from here.
01:39I am from Montenegro. It's a very small country, close to Serbia.
01:42Germany. I'm a visiting student for half a year.
01:44I am from California and I study neuroscience.
01:46Computer science.
01:47Environmental science and public policy.
01:49Psychology and African American studies on a pre-med track.
01:52I study government with a potential secondary in economics.
01:54Economics and government.
01:55So if you put the two worst Harvard majors in a person, I'm the person.
01:58I study molecular biotechnology.
02:00Oh, wow.
02:01Dang, that's very, very fancy.
02:03Okay.
02:04And what do you plan on doing with that degree?
02:06That is such a good question.
02:07Trying to figure that out right now because I really don't have any idea.
02:10Still figuring it out.
02:11I still haven't figured that out yet, but once I do, you'll be the first to know.
02:14I'm not entirely sure what I'm going to be doing afterwards.
02:16Maybe IB, not really sure.
02:18Maybe consulting.
02:19Starting consulting and like getting an MBA after.
02:21Probably pursuing a PhD, maybe, or joining consultancy.
02:24Practicing law, presumably, but still figuring it out.
02:27I'd love to go to law school and like work for the EPA as a litigator.
02:30Probably law school, hopefully in an academia sort of way as opposed to a sellout way, but we'll see.
02:35Going to a big law firm.
02:36Any specific type of law.
02:37Probably transactional corporate.
02:38Just like that boy over there.
02:40Did some work in the government, liked it.
02:42Trying out a law firm this summer and then we'll go from there.
02:45I think I'm going to go back to my country, start a company.
02:47That's my goal and hopefully stay there.
02:50I think it's the most beautiful place to live in.
02:52Future business owner.
02:53I hope so, I hope so.
02:54Yeah, I think that's the best route.
02:56That's so awesome.
02:57I love that.
02:58And if you were to give a ballpark range, what do you hope to make salary-wise once you graduate Harvard?
03:02Pretty high.
03:03I think most Harvard students can expect a pretty high salary on graduation, but...
03:07I mean the goal would be like six figures coming out of college.
03:10Hopefully like $300k.
03:12$235k.
03:13$300k to like $600k.
03:14I don't know, I'd love to make any money at all.
03:17You know, I do want to work for the state, so that's on the lower side.
03:20Maybe like anywhere from like $80k to $130k.
03:22Hopefully at least $100k.
03:23$500k or something like that.
03:25Starting salary for most law firms is around $230k.
03:28And then with bonuses added on top of that for clerkships or other things that could be firm dependent.
03:33It could go a little bit higher, so...
03:35Just trying to make mom happy, gotta get her Fenty products, you know.
03:39You gotta treat moms well.
03:40I don't get really satisfaction from having money and I really want to go back home, so...
03:45I would say like at least a livable range.
03:47I'm not really too set on like how much I'm being paid yet.
03:49The range is endless.
03:50The range is endless.
03:51Yeah.
03:52Zero to infinity.
03:53Yes.
03:54And beyond.
03:55And that's the goal, ladies and gentlemen.
03:56And now getting into the more nitty gritty questions here.
03:58If you were to give an estimate, on average, how much would you say you spend every single month?
04:02Spend every single month.
04:04Ooh, that's a great question.
04:05How much do I spend a month?
04:06I'm not gonna lie, there's a reason I'm going into that job.
04:09I'm broke.
04:10We don't be spending a lot these days.
04:11Probably not a lot, honestly.
04:13Around like maybe $150.
04:15$150.
04:16Under $200.
04:17Oh, like nothing.
04:18My credit card bill last month was like $17.
04:20I've got a meal plan.
04:21I've got like everything that I need.
04:23Look at you.
04:24That is amazing.
04:25Very frugal.
04:26Okay.
04:27I would have to say I spend so much on food, so probably like a good $300.
04:29$500, $600.
04:30A couple hundred.
04:31I try to keep it low.
04:32Less than like maybe $750 for sure.
04:34Now that I'm saying it, no, it's gotta be less than $500.
04:37Under like $400.
04:39$300 to $500.
04:41$600 every month.
04:43$600.
04:44All right.
04:45And what do we spend on usually?
04:46Mainly food.
04:47I spend a lot of food.
04:48Because I mean the dining hall is not the greatest, but.
04:50Food.
04:51Samosa.
04:52Takeout.
04:53Usually food.
04:54Food.
04:55Ubers.
04:56Food and like online shopping.
04:57Mainly clothes.
04:58That's all I buy is like clothes.
04:59A lot of food.
05:00There's a lot of good restaurants in Harvard Square.
05:01I love Pinocchios to death.
05:02Or like Felipe's.
05:03Felipe's burrito late night.
05:04Something like that.
05:05I'm trying to think about it.
05:06No, no, no.
05:07It's gotta be maybe even less than $500.
05:09Like Red Bull from CVS.
05:10Maybe coffee if it's like a pretty bad week.
05:12I'm trying to get rid of my coffee addiction because I realize I spend like $10 a day.
05:17Because when I go and get a latte then I'm like oh wait I need to get a chocolate croissant
05:20too.
05:21So.
05:22I mean you can't have one without the other.
05:23Come on now.
05:24And kind of building off of that, how much would you say you make every single month?
05:27At the moment, not that much.
05:30I am a student so I make zero.
05:32If anything, my bank account is going down by the minutes.
05:35Well I don't do a job, but I'm an ROTC so I get like $420 a month for stipends.
05:40I would say I make about $300 every month.
05:42Probably like $200.
05:43Like maybe $200 a month.
05:45Close to $400.
05:46$600.
05:47A few hundred per month.
05:48Over the summer that would probably change to like $1,000.
05:50I make money from doing little consulting stuff around various research assistant positions.
05:55So I have two like paid internships here on campus.
05:57That's maybe like a cumulative 10 hours for both of them and they both pay like $17 to
06:01$21 an hour so I'm making maybe like $700 a month.
06:04$1,200 I think.
06:06I make about $300 a week doing research.
06:08What kind of research do you do?
06:09Oh, it's a little complicated.
06:11It's something along the lines of like white people are declining as a share of the population
06:15and how that contributes to white nationalism.
06:18Wow.
06:19That is, holy shit.
06:20Okay, look at you.
06:21Now the question that everybody's been waiting for here.
06:24What is the number one way you make money as a college student?
06:26Number one way you make money as a college student?
06:28Feet pics.
06:29Nah, I'm not cosigning feet pics.
06:32I'll be real with you.
06:33I think for me it's getting an on-campus job just because it's like the easiest.
06:36You can like walk to wherever you need to be.
06:39Most college students here tend to be either research assistants or like TFs for classes
06:44which makes a pretty decent amount of money.
06:45I do a lot of tutoring especially for high schools.
06:47I work in a lab so I get paid $20 an hour.
06:50So I work for the Office of Gender Equity.
06:52I'm like a programmer for the Office of Sustainability.
06:55So I work in fundraising with the Alumni Association because I'm on a full scholarship over here.
06:59So I help other students basically get the same scholarships here.
07:03Honestly, I have to say there's a lot of content creators actually.
07:06Ironic.
07:07But yeah, there's a lot of content creators at least on my side especially being like a track athlete.
07:10I'm too camera shy usually so I'm surprised I'm doing this.
07:14Well, I'm very honored to be pushing you out of your comfort zone today.
07:17Honestly?
07:18Go on and start your own business.
07:19Do a little something new.
07:21Some people get involved in like startups, more entrepreneurial stuff.
07:24I'm a musician so I'll gig sometimes as well.
07:26Do you have any experience in entrepreneurship at all?
07:28I ran a gas station before I came here.
07:30Really?
07:31I did consulting projects with real clients.
07:34Gave me really diverse insights into different industries, different work environments.
07:38Right now I'm starting something with my friend back home making HR software for private clinics.
07:43So that's the plan.
07:45Wow, you make that sound like it's no big deal.
07:47That's pretty awesome.
07:48So what was like the average amount of a transaction when you were doing consulting?
07:52Right around 10,000 euros.
07:54It increased a lot every year just because of the dynamics of the area.
07:58But around 100k in revenue per month.
08:00Well, you're the first entrepreneur we found today.
08:02That was our whole mission is to find an entrepreneur that actually has an up and coming business.
08:06You did it! We fulfilled our mission.
08:08And then I have a couple rapid fire questions for you here.
08:10Alright, rapid fire. Let's go.
08:12You ready?
08:13Yeah, super rapid.
08:14Alright, let's do it.
08:15What is the biggest purchase you've ever made?
08:17Biggest party?
08:18Purchase.
08:19Purchase. Oh.
08:20Biggest purchase I've ever made?
08:21Oh man, I don't know.
08:23My tuition.
08:25Probably a surfboard.
08:26Plane tickets to a music festival.
08:28Oh, my computer. I bought a computer last semester.
08:30My laptop.
08:32Macbook.
08:33Yeah, it was.
08:34Always a killer. Always a killer.
08:36That I could think of? Probably these headphones, man.
08:38I don't make big, big purchases.
08:40These were maybe like 400 or something.
08:42Probably the coat I'm wearing. It was like 200 and something dollars when I got it.
08:45I think that's a trumpet for two and a half thousand.
08:48Oh, I have a signed Manchester United jersey from their 08 Champions League final.
08:52And that was like 1,200 bucks, which is a lot.
08:55Worth it?
08:56It was worth it, yeah.
08:57Hey, and that's all I've added.
08:58What is the bougiest thing you've seen a Harvard student do?
09:00Bougiest thing?
09:01Oh, that's a good question.
09:03There's just so much I feel like.
09:04Buy a new car.
09:05On their computer in class.
09:06Wow.
09:07That is definitely, definitely up there, for sure.
09:10Definitely like take Uber to classes.
09:12Call an Uber for like a two-minute walk.
09:13Like Uber to and from class.
09:15I've seen kids just take Ubers from one side of the yard to the other, so.
09:18Our campus is tiny. It's like a 10-minute walk max, the Uber.
09:21I think I know of a few students who have like private jets that they'll fly sometimes, like on the weekend.
09:25I mean, people have a lot of bougie clothes.
09:27People wear some stupidly expensive stuff.
09:29Walk around in like straight-up Louis, like.
09:32People wearing Gucci shoes.
09:33I've seen like a person like wearing like a Van Cleef 10-motif necklace, and then a bracelet on top of that.
09:39You see people coming from like the mail centers with like 20 different boxes, and it's all like designer stuff.
09:44And you're like, oh, okay, so they're rich as fuck, so.
09:47What is the most amount of money you've heard a Harvard student make while they're still at Harvard?
09:51Like millions. Millions, rage, probably, with their business.
09:54Millions of dollars in their, what?
09:56Oh, I've definitely heard people making like $40,000 to $50,000 doing like consulting during the summers and stuff like that.
10:01There's a lot of people who do like internships during, while they're in classes and stuff like that.
10:05Particularly in finance, pretty well paid.
10:07$80,000 hedge fund internship over the summer.
10:10$80,000 over the summer?
10:12I've heard like $100,000 sometimes.
10:14Wow, oh my gosh. $100,000, dang, okay.
10:18People think we're worth a lot more than we might be.
10:21Hey, I mean, $80,000, I wouldn't turn it down.
10:25Maybe $1,000 a month, like because people do things on the side, like have businesses and stuff.
10:29People who are in startups do a lot. They can work for like a little startup for three months and make like $30,000.
10:34I have friends who are getting summer internships that are like in those figures.
10:37$30,000, dang, okay. Maybe I need to start hitting up these people.
10:41I guess so.
10:42That's amazing.
10:43I don't know if they've talked about it or if it's like their parents or them, but probably a couple million.
10:48A couple million? Holy shit, okay, wow.
10:51And I have one final question for you here. It's a little more philosophical.
10:54Oh, yeah.
10:56Do you think that money equals happiness?
10:58No, not at all.
10:59I don't think so.
11:00No, definitely not.
11:01I don't think money equals happiness, but I do think there's a certain level of money
11:05required to maintain a comfortable life that can contribute to your general happiness level, yes.
11:10I think if you have money, it can make you like happier,
11:13but I don't think money equals happiness, if that makes sense.
11:16If happiness and freedom are closely related and money unlocks freedom,
11:20I think you need like a base level amount of money to get that base level amount of freedom,
11:24which then opens up the possibility to happiness.
11:27It's a huge enabler, I think, and it enables you to do whatever you want,
11:31but it's not really equal to happiness, no.
11:33I'll just take it as an absolute, I'll say yes for now.
11:35Why is that?
11:36Because I'm broke and I've seen money makes me happier.
11:39Yeah, to a certain point, I wish I had more money because it would be nice,
11:42but I'm happy in other ways too.
11:43I don't think money equals happiness.
11:45I think happiness is something you're just going to have to get through, you know,
11:47interpersonal relationships and happiness will come, so do whatever makes you happy.
11:51Life is about finding love and meeting people and not about making money.
11:54I'm fine with the amount of money that I have right now.
11:56The things that make me happy are pretty simple, so.
11:58It's people for me, so.
11:59Yeah.
12:00Yeah, friends, family, that's the most important.
12:01Oh, I love that.
12:03Like Vin Diesel talk.
12:04It's only family.
12:06Yeah, it's just like Vin Diesel.
12:07I love it.
12:08Even better than Vin Diesel.
12:13Like my biggest money hack is don't spend money.
12:15Hey, easy as that.
12:16Easy as that, I mean.