Most these guys would be better off working at Taco Bell then trying to make 2 handles on the ES everyday. Shit, what makes you think any of these guys could ever even land an interview at one of these places. Hell, Don Bright probably wouldn't even return the phone call. LOL. I just love it how guys on here play hypothetical like should I work at Goldman or make 100 million a year trading FX in my boxer shorts? How about, you're NEVER going to get the interview even if you wanted it and you're NOT going to make a living in your boxer shorts drawing straight lines. LOL. Shit, Picaso couldn't even make a living drawing lines, he died penniless.
$335,000 for entry-level hedge fund analyst
- Thread starter blakpacman
- Start date
Most these guys would be better off working at Taco Bell then trying to make 2 handles on the ES everyday. Shit, what makes you think any of these guys could ever even land an interview at one of these places. Hell, Don Bright probably wouldn't even return the phone call. LOL. I just love it how guys on here play hypothetical like should I work at Goldman or make 100 million a year trading FX in my boxer shorts? How about, you're NEVER going to get the interview even if you wanted it and you're NOT going to make a living in your boxer shorts drawing straight lines. LOL. Shit, Picaso couldn't even make a living drawing lines, he died penniless.
You think these guys have undergrad degrees? LOL.
LOL... let's see. "Should I drive the Lambo or go with the eco-friendly, socially conscious Tesla today? Nah, I'll just ride my private jet to Virgin Tortola, then boat off to Necker Island" while I make a bunch of pips in Forex and sipping pina coladas with Kate Beckinsale. Heck, Joe Lewis did it! (I don't know how the heck he did it though ... a person like him is one in many millions)
Whoa, you're full of piss and vinegar tonight.
I socialize with some guys at some well known nyc firms who are far from entry level.
Let's just say they are starving in the current environment. I have one buddy at citi who thought the 500k years would never stop... Now he's in a perfect storm with new house and kid on way. He's in trouble and i know five more guys who made a ton not doing it now. Now they envy a guy who trades his own money.
And regarding et guys here mav, most are young and some may just make it imo.. Typical percentages of course.
Not at all, I never took the thread seriously. These posts where guys talking about taking out 2 handles a day and playing golf in the afternoon are written by people who don't trade. That is their "perception" of what trading is or what trading should be. You and I both know that is NOT what trading is which is why the whole "why work for the man 80 hours a week when you can work two hours every morning and call it a day" comment is silly. I don't work for the man and I put in 80 hours a week. I don't know any trader worth their salt that doesn't put in the hours and NOBODY, takes out "x" per day. Trading doesn't work that way. That is like saying Tom Brady goes out every weekend and passes for 300 yards like clockwork. No he doesn't. He might throw 3 picks this week and only 150 yards and next week he might pass for 400 with 4 TD's and no interceptions. Usually it's a tell when people talk like that because it means they do NOT trade or they would understand this.
And the point about your buddy from Citi struggling has nothing to do with how hard it was for him to get that job in the first place. I found it humorous that the OP spoke about it like it was being "offered" to him. It's like me saying, Should I call up George Soros and offer him my services or trade FX at 2am? Like it's an either or. Anyway, since the comments on the thread were a little "off the reservation" I gave proportional responses.
I'm trying to determine if I should ring up Kate tonight or hit the local dive bar. You think Kate will answer?
I really dig British chics so she should really take that into consideration. 300k is barely enough to support a middle class lifestyle in Manhattan for a family of three. It's the reality - a shitty 2-bedroom (900 square feet) would ding you 4k a month in rent or a whopping $1.2 million to buy. Everything else scales accordingly.
Obviously, hot young guns can share an apartment in Bed-Sty five ways or move out further to the burbs. It's cheaper, but you are going spend two hours a day commuting and never get laid ("Seriously, we have to take an hour train ride to you place?!!").
Overall, trading as an occupation is overrated - it's a nasty, neurotic job that produces zero value for the society. In many cases, it's glorified legal gambling. To make a living trading your own money you need to have enough money in the first place. I would say 15ish percent return is what realistic (with an occasional draw-down year), so to bring home 150k, you need a buck plus some cash reserves - that money has to come from somewhere.
While I keep hearing about the people that managed to "compound" their portfolio, i have yet to meet one. On the other hand, if you have the right skills and attitude, you can easily stay employed in financial industry (there are plenty of non-trading jobs in finance that pay fine, like risk management).
To repeat myself "You can live well if you're rich and you can live well if you're poor. But if you're poor, it's much cheaper".