How about a $19,000-per-month internship this summer?

TrAndy2022 said:
And how they are living ? With tuition fees you still cannot rent a flat and many more study related cost, etc. So there are more cost involved. Second, I also mentioned the time spent for useless studies. Better you invest your 5 years for fulltime trading purposes. You return on investment might be much higher.
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Most traders wash out and your 100k debt is not reality. With your scenario of 5 years and high rate of failure you are then unemployable for jobs that require a college degree.
 
ETJ said:
How about a $19,000-per-month internship this summer? That's what the biggest hedge fund in the world is paying as Wall Street returns to the office
Chloe Berger - Fortune
Chad from Murray Hill works hard for the money, he works hard for the money, so you better treat him right. Or maybe just pay him right. That's certainly the case at Citadel and Citadel Securities, where summer interns are reportedly making about $120 an hour this year, a 25% jump from intern pay last year, Bloomberg's Paulina Cachero reported. That translates to $19,200 a month pre-tax for the typical 40-hour workweek and more than four times what the typical U.S. worker makes a month-$4,400. While these interns will only see that kind of paycheck for the summer months, it's equivalent to a $230,400 annual salary.
/jlne.ws/46v0HYs
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It can be a kind of employment opportunity. Is this truly an internship?
 
newwurldmn said:
billions in tax savings helped.

Plus the ability to remake the skyline of the city.
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Florida is a swamp, every year the hurricane comes in and the insurance goes up. Tampa got flooded last year. Miami few years back, too much housework if live down there.
 
TrAndy2022 said:
At a first glance it looks very attractive. But noone who is serious obtaining a full job later in this company will only work 40 hours per week. Maybe 80 to 100 hours per week is probably here, so in the end "only" $50 per hour. Second, there are also lot of study fees in the USA so they pay 6-figure on their tuition. And the worst they do not learn meaningful things like how to trade or any important stuff related to trading when they study at the university. So in the end they need to pay back study fees from their first jobs. That is the (education) business in the US. If they are not good reading the market and at trading they will not survive any longer in that or any trading related job when they got it for fulltime. So the question is, if they really make it net after the tuition fees. Lot of people do not get those interns and jobs too because they are too rare to the numbers of students, but they, the students, all need to pay the tuition fees, so that is sad thing, when they sit on 6-figure debts, finished with their studies and just started to work. Trading with debts is too challenging for own psychology, you do not have a free mind, which causes many mistakes because of that too. Time would be better invested just trading without paying lot of tuition fees. What you can make from any jobs is also ridiculous to serious trading income. Fact. So in the end this intern and route/path is not really attractive.
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%%
NOT sure student debt is that low/
average student debt term = /20 years:caution::caution: Maybe more for those that got snookerd into stop paying loans this year/LOL:D:D
Citadel, just checked , thier Survey Monkey , what region Us [NY,chicago, FLA[2,3,4] Singapore, Australia,UK
5-7,8]
Quant Analyst, Trading, Software engineer.
Looks about 111% better than WFC or BAC
Best but lower start pay trade + invest with a good business or brief job.
Thats the way Ken G did it .
 
TrAndy2022 said:
At a first glance it looks very attractive. But noone who is serious obtaining a full job later in this company will only work 40 hours per week. Maybe 80 to 100 hours per week is probably here, so in the end "only" $50 per hour. Second, there are also lot of study fees in the USA so they pay 6-figure on their tuition. And the worst they do not learn meaningful things like how to trade or any important stuff related to trading when they study at the university. So in the end they need to pay back study fees from their first jobs. That is the (education) business in the US. If they are not good reading the market and at trading they will not survive any longer in that or any trading related job when they got it for fulltime. So the question is, if they really make it net after the tuition fees. Lot of people do not get those interns and jobs too because they are too rare to the numbers of students, but they, the students, all need to pay the tuition fees, so that is sad thing, when they sit on 6-figure debts, finished with their studies and just started to work. Trading with debts is too challenging for own psychology, you do not have a free mind, which causes many mistakes because of that too. Time would be better invested just trading without paying lot of tuition fees. What you can make from any jobs is also ridiculous to serious trading income. Fact. So in the end this intern and route/path is not really attractive.
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You're making a lot of assumptions on hours, tuition, what this internship entails, what real world trading is, ...
 
mervyn said:
Florida is a swamp, every year the hurricane comes in and the insurance goes up. Tampa got flooded last year. Miami few years back, too much housework if live down there.
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none of that clearly affected his motivations.
 
kmiklas said:
God only knows the hours they're making these kids put in.
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For $235K a year, they better put in the hours. LOL At least they get paid to learn how to trade. We not only got paid nothing to learn how to trade but actually had to pay to learn via our losses. They should consider themselves very lucky.
 
mervyn said:
Why Bloomberg is writing a 40 hours workweek? If they are putting in less than 100 then they are lazy, no coming back.

A friend’s kid got an offer from Citadel during the pandemic but he joined its competitor in NYC instead. Chicago winter is cold.
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So is winter in NY.
 
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