Old money jobs: They resemble elegance, hard work and lots of potential of earning a high income. So, what are those professions, quiet luxury earned and still earns its money with?
As a general rule, old money jobs are “classic” professions that exist for a long time. Typically, they require some sort of degree or a certain sum of money to start them. Lawyer, private banker, and financial advisor are typical old money jobs.
As you will learn in this article, there are lots of other professions, old money makes a great living. So, jump with me into a world full of sophistication, hard work, and lots and lots of connections.
Image of old money jobs
As old money typically owns lots of…well…money, you might ask yourselves: Where does all this come from? Surely, old money invested its money early on but somehow, they must have managed to accumulate loads of money.
These old money jobs are not reserved for wealthy individuals only nor is it impossible to get into them without a well-established network or loads of wealth. Sure, it might help coming from an Ivy League university to earn a good living in certain professions, but it is not required at all. Typically, they must have stood the test of time and fulfilled crucial needs.
Jobs, that are associated with old money, are:
- Lawyer
- Judge
- Notary
- Entrepreneur
- Financial advisor (private equity)
- Private Banker
- Private Equity Partner
- Stock broker
- Doctor
- Landlord
- Politician
- Philanthropist
- CEO
- Fashion Designer
- Luxury sales agent
- Luxury Salesman
- Antiquarian
Importance of degrees and education
As old money jobs resemble classic professions, you will most likely need some sort of classic education to participate or succeed in these fields. Therefore, certain degrees are crucial to obtain.
These degrees and the knowledge behind them can be obtained best in prestigious Ivy League universities. Not only will you receive an outstanding education, but also get access to an elite network of like-minded people. Additionally, if you want to be employed, it is very beneficial to have one of these prestigious old money schools and universities standing on your certificate.
If you want to learn more about these schools and universities, check out my article about old money schools.
Some useful degrees and diplomas are:
- MBA (anything business-related)
- Law degree (Lawyer & judge)
- Finance degree (anything financial-related)
- Accounting (financial fields)
- Real estate license (Luxury real estate)
- CFA (Financial advisor)
- Socioeconomics (Politician and Philanthropist)
Old money jobs presented
So, let’s jump into old money professions to learn more about their history, stigmas, and use for old money.
Legal professions
As old money does not want to have conflicts with the law, lawyers, judges and notaries are common careers for them. They are also pretty lucrative.
Lawyer
Lawyers: They are often presented as reckless but highly skilled individualsable to sue everyone and everybody and destroy whole companieswith their actions. Even though, in reality, the life of a lawyer may not be asexcitingas shown in series likeSuitsorBetter Call Saul, the right tricks and knowledge of legal actions can help businesses a lot.
For a family business or friends or partners,fitting specifications and legal advicecan be crucial to getpermissions and market advantages. This, besides their great revenue, makes the lawyer a perfect old money job.
Judge
What’s even more well-known than a lawyer? The one deciding about the faith of people and companies: a judge. Achievable only with the highest degree in law, this profession literally screams old money.
This high-earning old money job based on neutrality and decision-making is a great opportunity to make a good living. Being around for over 3000 years only helps this profession to be seen as old money.
Notary
To legally sign important contracts, you will need a notary. To have a skilled, trustworthy partner in crime (jokes), companies will pay large sums for sure. This profession has a high prestige and shows intelligence and calmness.
With a degree in law and optimally economics, you are good to go and pursue a well-earning career in this profession.
Entrepreneur
When we talk about creating something new and old money, something clearly doesn’t add up, does it? Whilst I am not talking about creating a fancy web design service or an online marketing agency, some “boring” business models have proven the test of time and therefore, have made people very rich.
In fact, the richest people on this earth own businesses. According to Forbes, the 10 richest people in this world possess an accumulated wealth of about 1.174 $ Trillion, a pretty nice sum, I guess.
Almost anyone on this list has ‘boring’ businesses like software or marketplaces. Old money also doesn’t need it fancy. In fact, Import and export businesses, waste management, and other ‘boring’ niches offer great revenue old money knows to make profitable and build a heritage.
Financial career in old money style
As it is already hidden in the term ‘old money’ finances are very important. For the richest of the rich, finance may be even more crucial than for average people. Therefore, financial jobs offer great opportunities for old money to make connections and gain lots of value.
Financial advisory
Welcome to the world of private and secret tips and tricks regarding money. As money can be multiplied through the right investments, financial advisors are crucial for the success of old money.
Also, many companies in this segment have been in the market for more than 100 years and therefore established quite some expertise and connections. Whilst it may be a little difficult to get into great firms, it is a very lucrative option to pursue.
Private Banker
The even more exclusive option to manage wealth is private banking. Offered to only high-net-worth individuals, private banking focuses on the management and growth of their client’s wealth.
To get into this profession with contacts to many rich individuals, you will need some sort of financial degree if you want to succeed. With lots of prestige and bright history, private banking may just be the perfect old money job for you.
Private equity manager
Staying on the private side, this old money profession is all about managing and multiplying the wealth of a company. Old money loves to manage their family businesses wealth, so it is purely logical this job is crucial and has high prestige.
No matter if you do it for the family business or another company, you will need a financial degree optimally from a prestigious university to really succeed, making it an old money job by any means.
Stock broker
Not only during the early 20th century, but even today the profession of a stock broker has an outstanding image. Being a ‘job’ with a long history and many mysteries, it is also suited for old money.
Predicting the market and turning small sums into lots of wealth may be the dream of many ambitious people. Stock brokers can determine their success for themselves in this area.
With great expertise, the right know-how, and a great degree, you can start in many companies with a pretty good salary early on.
Doctor
A high earning profession requiring a specific, hard-to-obtain degree: Perfect old money job material! Jokes aside, the profession of a doctor may just be the perfect opportunity for you to have a high-earning and purposeful career.
With many fields you can specify yourself, the doctors truly is a great old money profession. Whilst it may take some time to master, try it out!
Landlord
A relict from the time of the landed gentry you think? Not at all…well maybe a bit. Landowners always have been some of the richest people in history.
Today you have to choose the right path in order to succeed. Whilst they may not always be that ethical correct, Plantages earn lots of landowners a little fortune.
Politician
Aristocracy, influence and a long and mostly bright history. The politician is an old money profession by any means.
Whilst it may not be crucial, for the sake of the people try obtaining a degree or some noticeable knowledge in a specific field before pursuing a career path as a politician.
With high earning potential and that bright history, it literally screams old money.
Philanthropist
Not exactly a profession, you will earn money with, rather the opposite can describe a Philantrosophist. Rather than earning money, you will give it away for a good cause. Since old money typically has some wealth and a reputation to maintain, it is a useful old money ‘job’.
Also, you will not need any form of degree or otherwise. So go ahead and donate some money.
CEO
Every large firm where the owner doesn‘t want to do everything anymore needs a CEO. In huge companies, CEOs are like football players, at least the best of the best.
If a person has established himself, either trough hard work, connections, family business, or all three, he/she can earn some huge money.
Fashion designer
When we think about brands like Gucci, Louis Vuitton, and Loro Piana, we will have in mind long-standing dynasties of fashion designers.
If you are not born into the family, learning the profession and being good at it can not only earn you a good living. Also, it will give you lots of respect and precious contacts. This long-standing profession is very old money.
Luxury sales agent
Affluent people love to invest their money in valuable goods like real estate or boats. Where there is lots of money, there are many people trying to earn some of the cake.
There is hardly any other profession where you rely on contacts as much as as a luxury sales agent. If you a great at your job, you may receive some great money though.
Luxury salesman
Rooting from former merchants, selling valuable goods like watches or art is a profession earning you good money and lots of precious contacts.
With some old money families having huge stores and pursuing this career path for a long time, this profession will work if you are good at it.
Antiquitarian
Relicts from past time are not only very valuable but also need a certain level of expertise and knowledge to be preserved and solf properly.
Therefore, the craft of an antiquitarian is a profession gaining you lots of respect and great connections.
Also, buying art and antiques is an activity, old money loves to pursue.
Final thoughts on old money jobs
As you can see from this article, old money jobs come in a variety of fields. All have in common though, that they exist for a long time and earn a fair amount of respect if you are good at them.
The importance of classic education and a degree is way more popular with old money professions than with others. Therefore, you can make good living, like old money does, pursuing a career in any of these jobs.
FAQ
What are the jobs with the highest social status
The old money jobs of doctor, lawyer, and financial advisor are the ones with the highest social status.
What are the best old money jobs?
Being a doctor, lawyer, Entrepreneur, and Notary are the best old money jobs.
What are the highest paying old money jobs?
It may vary in certain regions, but Entrepreneur, CEO, Judge, Doctor, and financial advisor are the best-paying old money jobs.
