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How Lucrative Are Wall Street Jobs?
- Thread starter Banjo
- Start date
lol... I wish.. first off, that does look like front office only... and depends which desks... further, back office will be half of that... and the top tier (mostly Dirs) will make the high end of that half... AVP/VP's wont go pass $200K at best... if they were talking about funds, then maybe... and that is a huge maybe...
Quote from Maverick74:
Right, once you factor in variance and compare it to the public sector, Wall Street people don't make shit. You have to calculate the expected value of lifetime of work plus benefits and adjust for variance.
In other words, if Wall Street people had a sharpe ratio it would be under 1. Where as many in the public sector would have sharpes over 3.
Good post.
I think Ivy league business school professors would have the highest sharpe ratio on average. Once you get tenure and are working in a public univ like the Cal system, quality of life/life long easy and guaranteed income adjusted for risks etc. blows away even the directors in investment banks.
The Custodian at the CBOT floor makes like 130K a year I heard.
Quote from gmst:
Good post.
I think Ivy league business school professors would have the highest sharpe ratio on average. Once you get tenure and are working in a public univ like the Cal system, quality of life/life long easy and guaranteed income adjusted for risks etc. blows away even the directors in investment banks.
They make about 280 to 350k on average but are required to publish in top tier journals ( not easy ) etc. surf
Quote from ChkitOut:
the vast amount of jobs on wallstreet and im talking probably about 80% if i had to guess are support roll jobs. back office stuff.
ok, the average salary is probably like 40 grand with a 3k bonus and dont even bother asking for more.
so these asinine inflated numbers are just looking at the most prestigious jobs on wallstreet.
its like saying hospital employees make on average 350k. but they only included surgeons and forgot about the associate degree nurse that is mopping up shit.
Wow is it really that low? Do others agree? That's less than I made at my last outside sales job and that job was the lowest I ever made in sales.
Do these people have to have all the licenses too?
Seriously, you people are idiots.
Here is a math problem. If any office of people has 10 employees, 9 of the employees make 50k a year 1 makes 100 million what is the average pay in this office?
OMG THAT OFFICE MAKES ON AVERAGE $10,045,000. OMG OMG OMG OMG!!!!
It's an average it's the dumbest way to ever measure something like that.
Here is a math problem. If any office of people has 10 employees, 9 of the employees make 50k a year 1 makes 100 million what is the average pay in this office?
OMG THAT OFFICE MAKES ON AVERAGE $10,045,000. OMG OMG OMG OMG!!!!
It's an average it's the dumbest way to ever measure something like that.
Clear example of pros and cons depending on which side of the table you are on taken from a math forum.
why do we use mean instead of median
Hi Jill,
Probably the easiest way to see the difference is to consider some
data with an outlier. For example, suppose there are 7 people who
graduate from some university with degrees in communications. They all
get jobs, and their salaries are
$27,000
$29,000
$33,000
$34,000
$35,000
$39,000
$5,000,000
The last guy got a job playing basketball in the NBA! Now, the median
is the middle value, or $34,000. But the mean is about $750,000.
The $5 million salary is what we call an "outlier". :^D
So, if you were trying to tell prospective communications majors what
they could expect to earn after graduation, which number would give
them a more accurate picture--the median, or the mean?
On the other hand, if you were just trying to get people to come to
your university, which number would attract more students?
This is why it's important to understand when someone reports an
"average" value, he might be talking about the mean, the median, or
the mode (another "middle" value), depending on what kind of
impression he wants to make. It's up to _you_ to ask, in each case,
_which_ average he's talking about.
http://mathforum.org/library/drmath/view/65606.html
why do we use mean instead of median
Hi Jill,
Probably the easiest way to see the difference is to consider some
data with an outlier. For example, suppose there are 7 people who
graduate from some university with degrees in communications. They all
get jobs, and their salaries are
$27,000
$29,000
$33,000
$34,000
$35,000
$39,000
$5,000,000
The last guy got a job playing basketball in the NBA! Now, the median
is the middle value, or $34,000. But the mean is about $750,000.
The $5 million salary is what we call an "outlier". :^D
So, if you were trying to tell prospective communications majors what
they could expect to earn after graduation, which number would give
them a more accurate picture--the median, or the mean?
On the other hand, if you were just trying to get people to come to
your university, which number would attract more students?
This is why it's important to understand when someone reports an
"average" value, he might be talking about the mean, the median, or
the mode (another "middle" value), depending on what kind of
impression he wants to make. It's up to _you_ to ask, in each case,
_which_ average he's talking about.
http://mathforum.org/library/drmath/view/65606.html