Short Answer
Before becoming a financier, Epstein worked as a teacher at the elite Dalton School in Manhattan, where he instructed mathematics and physics. Connections he made there, particularly with Bear Stearns executive Alan Greenberg’s son, helped him get hired at Bear Stearns in 1976, where he eventually became a partner before leaving in 1981.
In Detail
The Dalton School
Epstein grew up in Brooklyn and attended public schools, earning a scholarship to attend the Cooper Union before transferring to New York University. He dropped out of NYU before completing his degree. Despite lacking a college degree, he was hired by the Dalton School in the early 1970s to teach mathematics and physics to high school students. Dalton was one of New York City’s most prestigious private schools, attended by the children of the wealthy elite.
Bear Stearns Connections
While at Dalton, Epstein reportedly cultivated relationships with parents of students, including Alan “Ace” Greenberg, the chairman of Bear Stearns. Through these connections, Epstein was able to obtain a position at Bear Stearns in 1976, despite his lack of a college degree and formal financial training. He rose quickly through the firm, eventually becoming a limited partner.
Bear Stearns Departure
Epstein’s time at Bear Stearns ended in 1981 under disputed circumstances. Reports suggested he departed voluntarily, while other accounts suggested he was pressured to leave. The exact reason has never been definitively established, though Epstein himself later gave inconsistent accounts of his departure.
Reinvention as a Money Manager
After Bear Stearns, Epstein reinvented himself as a financial adviser to ultra-high-net-worth individuals, eventually claiming to only work with clients with assets over $1 billion. His relationship with Les Wexner became the centerpiece of this identity and provided access to the resources that fueled his network and lifestyle.