Investor Ace Warren Buffet built his fortune through investing and asset management. He started with Berkshire Hathaway, a failing New England textile company, which he transformed into one of the most valuable companies in the world.
For this 91-year-old CEO and chairman of Berkshire Hathaway, work doesn’t really look like “work.” And that’s what he advises students to look for in a job — something that meets a deeper need than just monetary and tax gains.
That’s what Buffed reiterated in its annual letter to Berkshire Hathaway shareholders.
“I insisted that they (the students) seek employment in the field and with the kind of people they would choose, if they didn’t need the money,” Buffet wrote.
Prior to Berkshire Hathway, Buffet did all sorts of jobs, including working part-time with Charlie Munger, vice president of Berkshire Hathaway, at Buffet’s grandfather’s grocery store. Buffet then sold securities while Munger found a career in law. Despite their promising careers, the duo found no fulfillment before joining Berkshire Hathaway.
Since then, the two have tried to ensure the company is filled with like-minded people and individuals they would like to work with.
“It’s a joy to live to join managers like Paul Andrews or the Berkshire families that I told you about last year. In our home office, we employ decent, talented people – no jerks. The average turnover, maybe, one person a year,” Buffet said.
While Buffet has followed this mantra for decades, having taught it to his students at the University of Nebraska-Omaha until 2018, it is only recently that companies have understood the importance of job satisfaction for the overall effectiveness, growth and life cycle of an organization through research.