salaries in the financial market

A

ADX_trader

I never work in the financial sector, so I really have no idea about the wages of people working there.

How much would a trader, stockbroker and analyst expect? I know it can vary from time to time and from where they are, but I want to get a rough idea of their income so I can compare my own result with them.

Thank for any comment.
 
for a first year investment banker at a big bulge bank:
10k signing bonus
60k base salary
20k average end of year bonus



jc
 
i doubt that BB will be giving out 10k signing bonuses at a time when they're laying everyone off.

Most BB offer a base pay (for first year corporate finance analysts) 50-55 (although most are offering 55 at the SECOND YEAR LEVEL - from my understanding a lot the banks froze salaries for analysts and did not give raises at the end of the year)

You're probably right for bonuses ... we paid first years 20-28, second years 30-38, and third years 42-58
 
I have heard through the grapevine that Echo is giving salaries to their backed traders in San Francisco. Don't know how much though.

I would imagine that any salaries in this business must stink right now. The big wirehouses like Smith Barney, Bear Stearns, Schwab have all laid off so many people that getting a financial job is competitive.
 
Originally posted by traderman
i doubt that BB will be giving out 10k signing bonuses at a time when they're laying everyone off.

Most BB offer a base pay (for first year corporate finance analysts) 50-55 (although most are offering 55 at the SECOND YEAR LEVEL - from my understanding a lot the banks froze salaries for analysts and did not give raises at the end of the year)

You're probably right for bonuses ... we paid first years 20-28, second years 30-38, and third years 42-58
More...

Last year my friends got a 10k singing bonus. This year they DID have a salary freeze. SUx, especially with the hours they put in. its not worth it for THEM and they know that.
 
Originally posted by traderman
i doubt that BB will be giving out 10k signing bonuses at a time when they're laying everyone off.

Most BB offer a base pay (for first year corporate finance analysts) 50-55 (although most are offering 55 at the SECOND YEAR LEVEL - from my understanding a lot the banks froze salaries for analysts and did not give raises at the end of the year)

You're probably right for bonuses ... we paid first years 20-28, second years 30-38, and third years 42-58
More...

This is true only for people working in investment banking. Salaries in Sales and Trading are still strong, especially in Fixed Income divisions. Of course, people in equities are getting cut left and right, except for equity derivatives.

I would say first year salaries for Sales and Trading include a $10k signing bonus, $55k base salary, and a $5-20k bonus, which is VERY dependent on one's performance.
 
You have a base salary, usually very low. The rest are commisions and bonuses. If you have to choose, become a trader. Brokers know nothing about the stock market. All they know are the rules and regulations. Look at the Series 7 test. BTW, traders also have to take this test now, but that's just a way of showing the world you're a licensed trader. You won't use anything from that book when you scalp BRCM or trade the gap.
 
Originally posted by TraderJimR
I have heard through the grapevine that Echo is giving salaries to their backed traders in San Francisco. Don't know how much though.

I would imagine that any salaries in this business must stink right now. The big wirehouses like Smith Barney, Bear Stearns, Schwab have all laid off so many people that getting a financial job is competitive.
More...

"backed traders?" What is that?

I don't think Echo would be giving out any salaries.
 
If you are making 80K US dollars per year - profit after all expenses and before any personal or corporate taxes (excluding trading related taxes) then you are doing moderately well and are matching those with few years experience in many of the positions. More senior people make considerably more but they also have less job security and generally are moving through several firms over time.

On the street this year is not a great one for workers: many are getting layed off and most salaries are frozen (no raises). The business is getting more competitive (IB, broker etc) since there are fewer deals with more companies chasing those that exist - things will probably be this way for a while until things finish shaking out from the excess of the last couple of years. However for those that are not let go there is still the possibility of a decent bonus along the lines of the levels previously stated.
 
Originally posted by ADX_trader
I never work in the financial sector, so I really have no idea about the wages of people working there.

How much would a trader, stockbroker and analyst expect? I know it can vary from time to time and from where they are, but I want to get a rough idea of their income so I can compare my own result with them.

Thank for any comment.
More...

stockbrokers = financial planners now. Your pay is directly correlated to your assets under administration.(.025% to 2% annual fees on assets).

Some of the largest brokers make 5-10 mil a year. Takes years though to build that type of book. Typical salary is closer to 250-500k for an average producer. Rookies are lucky to make 75k.
 
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