Quote from Zelemont:
I am 17 and in high school and I am trying to figure out what I am going to do for a career.
I read about traders on the princeton review here:
http://www.princetonreview.com/cte/search/careerResults.asp?search=trader&view=career
On the site it says traders make this much money on average
Average starting salary: $90,000
Average salary after 5 years: $500,000
Average salary after 10 to 15 years: $1,000,000
Is this true?
Also, how competitive are banks when hiring traders? I have been told that investment bankers that are hired by the big firms for big money are usually ivy-league graduates or highschool valedictorians. Is this the same for traders?
Also, does anybody know if this is true for foreign exchange traders?
Average hours per week: 45
Average starting salary: $80,000
Average salary after 5 years: $500,000
Average salary after 10 to 15 years: $1,100,000
Do you have to speak another language to be a foreign exchange trader?
Im sorry about the great amount of questions, im just very curious. One more----What is the best major for traders?
Thanks in advance
-Matt
There are many definitions of a "trader".
1)speculator
2)some order taker on a retail/institutional desk.
3)market maker on an institutional desk
4)proprietary trader
5)hedge fund manager
etc. etc.
Study the field and get a better idea of what it is that captures your imagination.