It's too risky for a young person to take prop trader route. His life will be ruined for good. He needs to study hard & go for GS or JPMorgan, it's more secure and more promising career aspiration. He can retire at the age of 35. If he wants to retire and be a parttime investors/trader then, no problem. I'll NEVER advise young people to waste their youth and be a trader. 99% don't make it. And he can't waste his youth; it's dangerous as Wall ST don't hire old people with no degrees like MBA, CFA, CA/and no real experience in respectable Wall ST firms ...ect.He needs to study hard now & get all of these degrees & head for real Wall ST firms like GS/JPMorgan who gives average salary & bonus of $500,000.These two are the best in terms of $$$. Thus, his study/career needs to be planned now because time is critical. After you are above 25 with no respectable education, it's very hard to get an intern job; if you are older than 25, you need LEGIT working experience in financial field of 3-5 years, and tons of degrees in order to work for GS/JPMorgan.
Balancing It All
- Thread starter rgilbert93
- Start date
Not everyone is driven by $$$$. You think GSCO IB guys work 9 - 5? Guess again; they have no life (outside of work) and are under tremendous pressure. Some people prefer 'quality of life' with balance a part of it. $$$$ doesn't buy happiness. And not everyone wants to retire at 35.
As a trader (since 1996) I'll gladly take my trading income and the freedom I have over any GSCO employee. I'm my own boss. I don't answer to anyone else. I don't have a boss telling me I have to work until midnight to meet a deadline. Only to wake up the next day with more of the same pressures.
But that's just me. Some people opt for chasing $$$$. Many wind up unhappy when they realize all the $$$ made doesn't make them all that happy.
-Never say working at GS/JPMorgan is easy. It's highly competitive to get in. You need good health/youth as they require long hours of working. But there is opportunity to make enough income to retire at early age. Nothing is easy in life. The point is, young people needs to study hard in order to go anywhere in Wall ST career & should start early. Don't give young people lazy advice & ruin their precious youth years. If they waste their time & not study hard; it's impossible to start a high paying career in Wall ST.
did I not tell the guy to first finish school and I even told him that he can't do trading and school at the same time
grades will suffer, trading will suffer
what's wrong with finish school first then give 3 years to try trading
nothing wrong with my original advice and I stand by it
You have too much respect for Goldman Sachs and JP morgan. Cancer of US society.
I HOPE HE NEVER GETS A JOB WITH THOSE morally bankrupt individuals that cheat people on high frequency trading
and bet against their clients
you should apologize to me kitty
Dataa: I understand what you are saying. I am sorry if you think I said something wrong in regard to your ideas. In my own experience, I've learned very quickly that wasting time during youth years is big mistake. Three years-degree is not good enough to work for high pay-Wall ST firm nowadays. It's very competitive...
As for respect of GS & JPMorgan, there is no loyalty in Wall ST nowadays, everyone just want to work there to make quick bucks in a few years then retire. That's it! It's just a means to wealth & early retirement.
Wasting time at prop firms when one is young will be a big mistake because Wall ST only wants to hire young candidates with more than just a Bachelor degree; he needs a MBA/CFA/and CA or Business Law degree to get a high paying position. These degrees needs time ....so he has no time to waste at prop firms.
The risk of wasting time at prop firms is very high since AGE &higher level of education, (besides just a bachelor degree) is everything nowadays! Wall ST wants to hire YOUNG highly educated people at early 20 who has health & youth to work hard, teachable & aggressive/hungry for money.
As for respect of GS & JPMorgan, there is no loyalty in Wall ST nowadays, everyone just want to work there to make quick bucks in a few years then retire. That's it! It's just a means to wealth & early retirement.
Wasting time at prop firms when one is young will be a big mistake because Wall ST only wants to hire young candidates with more than just a Bachelor degree; he needs a MBA/CFA/and CA or Business Law degree to get a high paying position. These degrees needs time ....so he has no time to waste at prop firms.
The risk of wasting time at prop firms is very high since AGE &higher level of education, (besides just a bachelor degree) is everything nowadays! Wall ST wants to hire YOUNG highly educated people at early 20 who has health & youth to work hard, teachable & aggressive/hungry for money.
Quote from Dataa:
did I not tell the guy to first finish school and I even told him that he can't do trading and school at the same time
grades will suffer, trading will suffer
what's wrong with finish school first then give 3 years to try trading
nothing wrong with my original advice and I stand by it
You have too much respect for Goldman Sachs and JP morgan. Cancer of US society.
I HOPE HE NEVER GETS A JOB WITH THOSE morally bankrupt individuals that cheat people on high frequency trading
and bet against their clients
you should apologize to me kitty
The mantra I have is:
"If you do what everyone won't do for a short time, you can do what everyone else can't do for a lifetime."
Everyone else is buying surfboards and wasting their time while I'm saving and investing a little bit of time now for smooth sailing later
I thought I was smart......if I can go back in time, I'll try rocket science this time LOL