hahaha, don bright, you said you were tring to pevent showboating???????????? Try saving face. And doing a piss poor job at it. Tring to reflect the heat off of you to hitman is in poor judgement. Illegal to post profits? Where did you get your legal advice? Or did you just make that up? How much did you make last year? Illegal to say? lol. give me a break.
Compensation for traders at top firms?
- Thread starter sammybea
- Start date
nitro are you don in disguise? do you also think its illegal to post profits?
LOL LOL LOL. NO.
Hmm, do I think it is illegal to post profits? Not for me, but Don runs a _HIGHLY_ censored/regulated business. Further, for crying out loud, the question was what was the highest few profitable traders. You gotta be kidding if you don't think that, with 250+ traders, he can't scoop up, oh let's say, 10 7 figure traders, and that's leaving Bob Bright out at 8+ figures?
If it helps you any, I was visting the Chicago office (to see if Bright was right for me) a few times. Every time I was there, there was this guy that was pulling in $40,000/day.
THINK MAN BEFORE YOU TALK.
nitro
Don's probably not going to share numbers. I wonder if anybody from Echo would do the same. Or Lieber and Weismann. It's a well known fact that the Goldmans of the world attract so many applicants because of rumor and urban legends about salaries. It's a gold rush phenomenon. If Bright actively posted high numbers for its top traders (net commissions), I'm sure they would have double or triple the number of customers they have now. Same w/ any professional firm. There is no better advertisement than the shot at becoming a millionaire!
I will not speculate as to why more firms aren't profiling their top traders.
I think using Worldco figures is probably an excellent benchmark for the pro firms. 2 million is nothing to sneeze at. And supposedly, as Hitman says, Worldco's hedge fund traders can pull in much more. So I guess the sky is the limit and as long as it's a quality firm, the name doesn't matter. One last thought. Profiling and actively showcasing pro trading's "stars" might boost daytrading's image. Most people don't know what it is or think about that guy in Atlanta who went nuts and went on a killing spree.
I will not speculate as to why more firms aren't profiling their top traders.
I think using Worldco figures is probably an excellent benchmark for the pro firms. 2 million is nothing to sneeze at. And supposedly, as Hitman says, Worldco's hedge fund traders can pull in much more. So I guess the sky is the limit and as long as it's a quality firm, the name doesn't matter. One last thought. Profiling and actively showcasing pro trading's "stars" might boost daytrading's image. Most people don't know what it is or think about that guy in Atlanta who went nuts and went on a killing spree.
Arb,
those numbers are pretty accurate. I went to a top school and here's the typical salary range for my school for Wall St firms recruiting on campus:
1) Bachelors 60K-90K depending of firms and how good you are
2) MBAs - 135K +bonus package.
People with b.s. start out as "analyst" no matter where you are in the ibank - investment banking, M&A, research, or TRADING. It's just a generic title. Even at GS where I was recruited, the commodities division might be nice and give a new undergrad "trader" title. But you don't really get to trade size or do any proprietary stuff right away(none of this 3 weeks running a book bullshit!). And the at Morgan Stanley, I got the proprietary trading position, but that's extremely quantitative - ex. phds in physics from Cambridge etc interviewed me. Wall St. definition of "proprietary" trading is VERY different from what's used on this board. They usually hire a bunch of really bright phds like (DE Shaw) to build complex models and hire bright traders to execute or even have computer programs execute them.
so, don't have any illusions of grandeur. It takes a lot of hard work to climb up the corporate ladder. Well, dud, to be succesful in ANYTHING in life takes skill, hard work, and some luck.
But I'm not saying that daytraders/prop traders can't make millions. They definitely can! It just that you have to eb able to move size or hold longer time frames to get a better part of a big move. Else scalping for nickels and losing 30-40-50cents on a false move is a very hard way to make a living..
good luck all!
trader99
trader99
In London a lot of BA's and MBA's are on almost equal salary in first year alhtoughatthe major banks UBS, Lehman, Goldman there is the analyst and associate division and slight divison on pay. Mant traders in Lonon especially in foreign exchange are undergrads they dont have post grad degrees. I speak only for foreign exchange I dont know shit bout equities I do know that a lot of bond traders and obviously over the counter derivatives do have post grads. Where I am gonna work the chief dealer does not have a degree, end of story! I'm gonna stop commenting because this really is an equity trading site I ate equities and don't knwo anything about them so it is ignorant to the extreme to make comments!
Did anyone mention location as a factor
Seems like top traders are in NYC..Why the hell would I want to live in NYC...I am happy in as as independent trader in sunny Florida..Ill let you big shots wrestle over the subway, smog, stress and heart attack environment
Seems like top traders are in NYC..Why the hell would I want to live in NYC...I am happy in as as independent trader in sunny Florida..Ill let you big shots wrestle over the subway, smog, stress and heart attack environment